How Did The Lamar Hunt Family Make Their Money

Jerry Jones, who is worth $10.2 billion, has both football and business baked into his DNA. He originally made his money as a successful oil wildcatter, but before that, he served as co-captain of the University of Arkansas' 1964 national championship football team. All of this happened under the unprecedented stewardship of Jones, who revolutionized the modern NFL and changed how it's marketed, sold, merchandized and contracted to the media. The trophy that Clark Hunt was holding while he praised God in his post game speech is named the Lamar Hunt Trophy and it given to the AFC Champion. Lamar Hunt is Clark Hunt's father and also one of the biggest figures in the history of American sports.

Lamar Hunt is the principal founder of the AFL and MLS . He is the founder and owner of the Kansas City Chiefs as well as the Kansas City Wizards . At the time of his death in 2006 at the age of 74, he owned the Chiefs, Columbus Crew and FC Dallas. After his death, ownership of the Chiefs was divided among his children including his son Clark. Kansas City Chiefs owner Clark Hunt is sitting pretty, especially now that his beloved team, led by star QB Patrick Mahomes, has made its way to the Super Bowl. In fact, the Hunt family was fundamental in shaping the National Football League into what it is today.

You see, Hunt's father, Lamar Hunt, founded the Chiefs in 1959, but back then they were called the Dallas Texans, and were, obviously, not in Kansas City, per PF. Thanks to his own wealthy father, oil tycoon H.L. Hunter, Lamar had money to burn and tried to buy an NFL team.

When that didn't pan out, he just founded his own franchise, and ultimately, his own league, the American Football League, which later merged with the NFL in 1970. Before joining forces, the Texans were based in Dallas and won four AFL Championships in addition to one Super Bowl win in 1969 — at that time, they had already relocated from Dallas to Missouri. The Chiefs wouldn't win another Super Bowl until 2020, breaking a 50-year drought. Dan Snyder made his money through his marketing firm Snyder Communications, which he formed after dropping out of college. He took the company public in 1996 and then sold it to a French company in 2000 — the year after he bought the storied franchise — for $750 million. In late June, his wife, Tanya Snyder, was named co-CEO and took over day-to-day team operations "for at least the next several months," The Washington Post said.

The shift came after an NFL investigation found that the culture of the club was "toxic" under Dan Snyder's leadership and fined the franchise $10 million. Today, Dan Snyder's net worth today is estimated at $4 billion. The Hunts, who have owned the Chiefs since Lamar Hunt founded the team six decades ago, are one of America's richest families, worth an estimated $15.3 billion.

They own oil and gas companies around the world, a massive underground business park and stakes in NFL, NBA and MLS sports teams. In response, Hunt approached several other businessmen who had also unsuccessfully sought NFL franchises, including fellow Texan and oilman K. "Bud" Adams of Houston, about forming a new football league, and the American Football League was established in August 1959. The group of the eight founders of the AFL teams was referred to as the "Foolish Club".

Hunt's goal was to bring professional football to Texas and to acquire an NFL team for the Hunt family. Hunt became an owner of the Dallas Texans and hired future hall-of-Famer Hank Stram as the team's first head coach. When Forbes published its inaugural Forbes 400 list of the richest Americans in 1982, eight years after H.L.'s death, 11 of his heirs made the list.

How Did Lamar Hunt Make His Money Son Ray Lee Hunt followed him into the oil business. Daughter Caroline Rose Hunt founded and later sold Rosewood Hotels and Resorts. Son Lamar Hunt, meanwhile, turned his attention to sports. The Hunts, who have owned the Chiefs since Lamar Hunt founded the team six decades ago, are one of America's richest families, worth an estimated $15.3 billion. Iconic Broncos owner Pat Bowlen was a successful lawyer and real estate developer before he bought the franchise in 1984.

During his 35-year tenure, Denver won 60% of its games — a winning percentage topped only by the Patriots. Bowlen died at the age of 75 in June 2019, and future ownership of the team has been up in the air since. It appears the franchise will be sold, but to whom is the question. The estate of the man from whom Bowlen bought the team claims it has the right of first refusal in any sale, so a judge must settle that issue before Bowlen's children can court prospective buyers. Since NFL teams don't come for sale very often, interest will be high among prospective ownership groups. Upon Hunt's death, his son Clark was named the chairman of the Kansas City Chiefs and FC Dallas, having been elected by Hunt's other children, Lamar Hunt Jr., Sharron Munson, and Daniel Hunt.

Though Hunt's wife and children share legal ownership of the Chiefs, Clark represents the team at all league owner meetings and handles the day-to-day responsibilities of the team. When the NFL didn't allow Lamar Hunt, one of the children of Texas oil tycoon H.L. The American Football League began play in 1960 after Lamar Hunt convinced seven other men — they called themselves the "Foolish Club" — to each pay a $25,000 franchise fee. The two leagues merged in 1966, and soon to follow was the Super Bowl — a name created by Hunt — between the newly named American and National football conferences. Hunt died of prostate cancer in 2006, and his son, Clark Hunt, now is the CEO and chairman of the Kansas City Chiefs – originally the Dallas Texans when the AFL was founded. Nelson Bunker Hunt is said to feel betrayed, and that's putting it mildly.

He negotiated Hunt Oil's vast holdings there, wined and dined the inauguration of the new empire, and had high friends all over the Arab World. But then, because of his coun­try's friendship toward Israel and their own growing nationalism, the Arabs turned against him. And then, two days after the burial of his father, he learned that the old man had bequeathed him a stunner.

The will gave Mrs. Hunt 100 per cent of the patriarch's stock in Hunt Oil, distributing to Nelson Bunker and the other nine children and their families the rest of the estate. True to his fash­ion, the old man kept it all in the family, with Ruth's offspring seemingly getting the upper hand. Ray Hunt, the oldest son of the second set, was named as sole executor. Stipulated that any bene­ficiary who challenged the will in any form would be cut off without a cent. Hunt Southwest was founded in 2015, but its first project began in 2016, Herold said. It's part of the portfolio of real estate, sports, energy and investment companies owned by the Lamar Hunt family.

That includes ownership of the NFL's Kansas City Chiefs, Major League Soccer's FC Dallas team, and minority ownership in the NBA's Chicago Bulls. The Hunt Petroleum Corporation, also owned by the Hunt children, is a small oil exploration and production company. It has a production of 2,000 to 3,000 barrels a day and is run by Thomas M. Hunt, a cousin. The Penrod Drilling Company owns 25 drilling rigs used by the Hunt companies and others.

The Hunt International Petroleum Corporation is owned by three of H. L. Hunt's sons, with Bunker Hunt controlling more than half. This company has a 50 per cent interest in a Lybian oil field that has an estimated six billion barrels of reserves and drilling is expected to begin there in a couple of years.

The company is doing geophysical work prior to drilling on a 50 million to 100 million‐acre lease in western Australia. The company hit unmarketable gas in a Pakistan venture and lost a Kuwait concession to the Japanese. To exploit this new field, the Hunt Oil Company was founded in 1936.

First headquartered in Tyler, Texas, it later moved to Dallas where it grew to become the largest independent oil producer in the United States. During World War II the amount of oil Hunt sold to the Allies exceeded the total German output. He also supplied 85 percent of the natural gas piped into the eastern United States in 1946 to help relieve the critical fuel shortage of that year. It was during these years that Hunt began to develop large holdings in real estate, and at one time he was also the largest pecan grower in the country. In later years he began getting involved in the production of canned goods, health products, and cosmetics, all of which were placed under the umbrellas of HLH Products of Dallas. By the time of his death in 1974 Hunt's fortune was estimated at between $2 and $3 billion, and he was earning about $1 million a week.

Had 14 children and he shared his wealth and knowledge with them. Three of his sons, Nelson Bunker Hunt, Ray Lee Hunt, and William Herbert Hunt entered the oil business under their father. Lamar decided to focus on the sports and entertainment industries.

According to Forbes, 11 of H.L.'s children made the 1982 Forbes 400 list of the richest Americans. Currently, the Hunt family has a net worth of approximately $15.3 billion. Lamar Hunt, the late owner and founder of the Kansas City Chiefs, is one of the wealthiest families in the U.S. with a net worth of $15 billion. A 1936 oil investment made Haroldson Lafayette Hunt's father a big time investor. During the 1970s and early 1980s, brothers Nelson Bunker Hunt and William Herbert Hunt attempted to corner the silver market. By the end of 1979, their ownership of one-third of the silver market[which?

] caused the price to rise from $11 an ounce in September 1979 to $50 an ounce in January 1980. In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion. However, on March 27, 1980, subsequently referred to within the precious-metals industry as Silver Thursday, the price collapsed. In September 1988, the Hunt brothers filed for bankruptcy under the United States Bankruptcy Code Chapter 11.

In 1966, the NFL and AFL agreed to merge, with a championship game between the two leagues to be played after that season. Real estate powerbroker Stanley Kroenke is worth $10.7 billion, much of which can be credited to the 30 million square feet of mostly commercial real estate in his bulging portfolio. Kroenke boasts a title coveted by the elite since the founding of America — landowner.

He personally owns nearly 1.4 million acres of ranches in the U.S. and Canada. A major sports mogul, his holdings are not limited to the Rams. He also owns the Colorado Avalanche, Denver Nuggets, Colorado Rapids and Arsenal soccer club in Britain. Robert Irsay bought the Colts for $14 million in 1972, and his son, Jim, spent his childhood with the team, living with them in the summer and traveling with them on the team bus as a kid. A college football player himself, Jim Irsay worked various jobs for the Colts for his entire life, including ticket sales and public relations.

When the elder Irsay died in 1997, Jim Irsay became the sole owner and led Indy to a successful run that included a Super Bowl. Art Rooney founded the Steelers — known as the Pirates in their first seven years — in July 1933. It took nearly 40 years for the franchise to win anything until earning the AFC Central division title in 1972. By the end of the decade, the Steelers had won the first four of their overall six Super Bowl championships. In 1975, Art Rooney appointed his oldest son, Dan, to take over the day-to-day operations of the team.

The elder Rooney died in 1988, and Dan Rooney passed away in 2017. Art Rooney II, one of the nine children of Dan and Patricia Rooney, was named Steelers president in 2003. Other owners bought their teams after amassing enormous wealth on their own and paying huge money to enter one of the most exclusive clubs around. In a few rare cases, the family fortune is actually based on ownership of the team.

Team owners are ranked from least to most wealth, primarily based on data from Forbes. Grandpapa, who was known for his math genius, managed to turn his last $100 to $100,000 through gambling in 1912. Forty years later it was estimated he had a net worth of close to $700 million, which made him one of the richest men in the world in the 1950's. Hunt had 15 children by 3 different wives including his son Lamar, who was born in 1936. Today, his heirs own fortunes ranging from energy, real estate and sports; sons Ray Lee and W. Herbert own Hunt Oil and Petro-Hunt, respectively.

H.L.'s daughter Caroline founded and later sold Rosewood Hotels & Resorts; his late son, sports magnate Lamar, is said to have named the Super Bowl. Frustrated, Hunt turned to a fellow oilman, Bud Adams, and suggested they start their own league to compete with the NFL. By late in 1959, Hunt, Adams and a few others who had been interested in buying NFL teams had formed the American Football League.

That got the NFL's attention -- they hurriedly reversed course on expansion and put a team in Dallas. Publicly, three federal grand juries have returned indictments against nine men, including the two Hunt boys. Meanwhile, for almost a year, a fourth federal grand jury in Dallas has been investigating the three-year time lag in getting the wiretap indictments against the Hunt brothers. Hunt sources allege that President Nixon and his men prom­ised Nelson Bunker and his brother immunity from prosecution if the Hunts would give the FBI a list of Al Fatah agents in the United States. Nelson Bunker, because of his attempts to keep Hunt oil fields from being nationalized by Libya, felt himself a target for as­sassination, and therefore kept a close count of Al Fatah agents in this coun­try. Nelson Bunker and his father met President Nixon at the celebrated bar­becue at John Connally's Floresville ranch in the autumn of 1972.

Soon after, Nelson Bunker huddled with Richard Kleindienst, then the new boss of the Justice Department, at the plan­tation of Mississippi Senator James Eastland. Hunt sources claim Nelson Bunker came through for the FBI, and that the information helped foil a plot against Golda Meir when she visited New York in March of 1973. The in­dictments against Nelson Bunker and his brother went through anyway. The next month Libya's Colonel Qadhafi confiscated the Hunt holdings in the Arabian desert.

The day before the funeral I had walked to the Kentucky Fried Chickenstand and had ordered a box of No. They were selling copies of Colonel Harland Sanders' autobiography, so I bought one. My mind was on Hunt and his death, and it struck me, in an amused way, that he and the old bird-cook shared some similarities. The Colonel called his book Life As I Have Known It Has Been FINGER LICKIN' GOOD, and inside the jacket was a rundown of the Colonel's checkered career. The Colonel was 74 before someone paid him $2 million for his fried chicken franchise.

He went on to get religion and sue the people who bought him out something like 22 times, for various and sticky reasons. Founded by Lamar Hunt in 1952, the Chiefs are owned by the Hunts, one of America's richest families. The Hunts are often listed among the top 20 families in terms of wealth. A large underground business park, oil and gas companies around the world, and stakes in NFL, NBA, and MLS teams are all part of the portfolio. But for all their success in the business world, the Chiefs might be the family's best investment since H.L.

Hunt bought into the East Texas Oil Field nearly a century ago. The team, which they paid $25,000 to create in 1960, is worth $2.3 billion, including debt, today. Plus a couple of Super Bowl rings—something not even the Hunts' money can buy. As a child, Robert Kraft sold newspapers outside of the former Braves Stadium in Boston. The jewel in his crown, however, is the six-time Super Bowl champion New England Patriots, which was the greatest dynasty in football history before finally missing the playoffs in 2020. The 49ers are the No. 6 most valuable team in the NFL, and the family of Denise York owns 90% of it.