How did Robert Kraft make his money? All you need to know about popular Patriots owner's business

Robert Kraft purchased the New England Patriots for $172 million in 1994. Today, the franchise is valued at around $6 billion and boasts six Super Bowl championships.

The previous owner of the Patriots sought to relocate the team to St. Louis and rename them the Stallions. Robert Kraft purchased the team from that owner.

When he acquired the Patriots, Kraft stated that his goal was to "help deliver a championship to New England." A franchise that produced fewer than seven victories per year and hadn't previously succeeded in the Super Bowl was acquired by Robert Kraft for $172 million. At the time, that was a league record.

With superstar QB Tom Brady and head coach Bill Belichick, the Patriots have captured the Super Bowl six times since Kraft acquired the organization. The group has been one of the most accomplished in pro sports history.

As a young boy in Boston, Kraft's earliest job was selling newspapers just outside the former Braves Stadium.

After earning his MBA from Harvard Business School in 1965, Kraft started working for his father-in-law's paper and packaging business, the Rand-Whitney Group.

Kraft used a leveraged buyout to gain control of the business in 1968. He established International Forest Products in 1972, a company that trades products made from trees, such as paper and containerboard.

Robert Kraft expanded his paper and packaging firm to rank among North America's top exporters.

The Boston Lobsters of the WTT league were Kraft's first foray into the world of sports. In 1975, he and several partners purchased the Lobsters, but the tennis team disbanded in 1978.

Seven years later, he acquired a sizeable plot of property in the Foxborough area around Sullivan Stadium, the New England Patriots' home, with the possibility of buying it. He acquired the stadium in 1988 along with a collaborator, whose stake he eventually bought out.

In January 1994, Kraft eventually paid James Busch Orthwein for the franchise. When Orthwein purchased the Patriots in 1992, he planned to relocate the club to St. Louis. However, his plans were stymied when Kraft declined to let him purchase the club out of its stadium contract.

The 1994 season marked a significant improvement for the Patriots, who made the postseason for the first time in eight seasons. For the second time in its existence, New England participated in the Championship Game in 1996. After Kraft's hiring of Bill Belichick as head coach in 2000, the team became one of the league's elite units.

What is Robert Kraft's net worth?

Robert Kraft's enormous net worth as of 2024 is $11.1 billion. According to Forbes, he was the 62nd wealthiest person in the United States of America in 2023.

New England Patriots president Robert Kraft is primarily recognized in that capacity. He did, however, amass his wealth through a variety of commercial endeavors. The Kraft Group is involved in several distinct sectors, from packaging to equities management.

The Kraft family has contributed millions of dollars to charitable groups supporting children, women, education, youth sports, healthcare, and American and Israeli causes.