Family: Married Ann Walton Kroenke – daughter of Walmart co-founder Bud Walton – in 1974; two adult children, Josh Kroenke and Whitney Kroenke Burditt. Stan and Ann met on a skiing trip in Colorado in 1971, and Stan was reportedly close with Sam and Bud Walton.
Age: 66 (born July 29, 1947)
Residence: Columbia, MO. According to the Boone County Assessor’s office (Missouri), the 12,000-square foot house is worth $2.5 million. The home has five bedrooms, six full baths and two half baths. The Kroenkes also own four other parcels of land in the county, valued at $70,330.
Kroenke also owns a seven-bedroom Tuscan villa on the Pacific Coast Highway in Malibu that was formerly owned by Dodi Fayed, companion to Princess Diana. Princess Di had voiced an interest in moving to the home before her death. Before that, the home was owned by actress Julie Andrews. Kroenke paid $9 million for the beach-front property in 1998.
In November 2011, Kroenke and his wife purchased a home in Aspen, Colorado for $20.75 million. According to Aspen Journalism, it was the “most expensive real estate purchase of 2011” in the ritzy ski resort town.
When he is in Colorado, Kroenke stays in a two-story, 12,000-square- foot penthouse suite in the Pepsi Center, home of the Denver Nuggets.
In December 2011, Kroenke obtained a restraining order against a former property manager after the property manager allegedly stole a gun from Kroenke’s Malibu mansion and subsequently tried to shoot himself in the head.
Kroenke is notoriously media-shy, earning him the nickname of “Silent Stanley.”
Kroenke has an estimated net worth of $5.6 billion as of March 2014. His wife Ann Walton Kroenke has an estimated net worth of $4.8 billion as of March 2014. 2001 was the last year he disclosed his ownership of Walmart shares; he was required to disclose his ownership because he was on the board of directors until that year. At that time, he owned 1,081,827 shares individually as well as 61,781,928 indirectly (i.e., with shared voting and investment power). If Stan still owned these combined 62,863,755 shares today, they would be equal to a 1.91% stake in the company.
Educational and professional background
Kroenke received a Bachelor’s degree in 1971 and an MBA in 1973 from the Trulaske College of Business at the University of Missouri-Columbia. He attended law school at University of Missouri for a short time in the 1970s.
Kroenke, a former member of the Walmart board of directors, is a real estate developer and owner of professional sports teams, vineyards and resorts, and four cattle ranches. Kroenke made his initial fortune building developments for Walmart stores; between 1994 and 2006, Kroenke’s THF Realty received $117 million in tax breaks from local governments to build 10 shopping centers, of which $54 million went toward the building of Walmart stores.
Kroenke served on Walmart’s board of directors from 1995 to 2000.
Kroenke Sports Enterprises LLC/Kroenke Sports& Entertainment LLC (1999-present): A large portion of Kroenke’s business is conducted through Kroenke Sports & Entertainment, LLC (KSE), which also does business as Kroenke Sports Enterprises, LLC. Stan Kroenke owns the company, which in turn owns the Denver Nuggets (National Basketball Association), the Colorado Avalanche (National Hockey League), the Colorado Mammoth (National Lacrosse League), and the Colorado Rapids (Major League Soccer). The Nuggets are the 20th most valuable NBA team, worth an estimated $495 million by Forbes in January 2014. The Avalanche is worth an estimated $337 million (as of November 2013).
Because of NFL cross-ownership rules, when Kroenke took over the St. Louis Rams in 2010, he was required to pass on-the-ground control of the Nuggets and the Avalanche to his son Josh Kroenke, and he is required to give up his controlling stake in the teams by 2014.
KSE owns many subsidiaries, including:
- Altitude Sports & Entertainment, created by Kroenke in 2004, a 24-hour regional sports TV network in Colorado that provides coverage of Kroenke’s Colorado teams.
- Altitude Authentics, the official retail provider for KSE teams, selling team-branded gear for the Nuggets, Avalanche, Mammoth and Rapids.
- Tickethorse, the official ticket vendor for KSE teams and venues.
Properties owned by KSE include the Pepsi Center (Denver; home to the Nuggets, Avalanche and Mammoth), Dick’s Sporting Goods Park (Commerce City, CO; home to the Rapids); and Paramount Theatre, an historic venue in downtown Denver.
St. Louis Rams (1995-present): Kroenke is the sole owner of the National Football League’s St. Louis Rams. He purchased a 40% stake when the team moved to St. Louis in 1995, after having reportedly been involved in convincing the team to move to the city from Los Angeles, and gained control in 2010, when he paid $450 million to the children of Georgia Frontiere (deceased), former 60% owner of the team, for their shares as well as lease of the stadium. The team is worth an estimated $875 million as of August 2013.
Arsenal (2007-present): Kroenke started buying shares of Arsenal, an English Premier League soccer team, in 2007, and acquired a controlling stake in 2011. He currently owns 66.82% of team, and under ownership rules, is required to make a mandatory cash offer for the remaining shares in the near future, though it is unlikely that the minority shareholder will accept the offer. The team is worth an estimated $1.3 billion (as of April 2013).
Real estate ventures
THF Realty (1990-present): In 1990, Kroenke co-founded THF (“To Have Fun”) Realty, a St. Louis-based real estate development company worth $2 billion, with friend Michael Staenberg. THF owns properties, primarily shopping developments, many of which are home to Walmart stores, in roughly half the states in the US. In 2007, a THF executive stated that 50-60% of the company’s developments had Walmart as a tenant. Kroenke and Staenberg are currently entangled in a legal battle over how to end their business partnership.
The Kroenke Group (1983-present): Kroenke formed this real estate development company on his own after his partnership with Raul Walters dissolved (see below). Has developed many shopping centers (often with Walmart as a tenant) and apartment complexes, and owns property throughout the country.
In December 2011, the Office of Community Development in Columbia, MO, decided not to fine the Kroenke Group for a zoning violation at a construction site; it could have fined the Kroenke Group up to $25,000.
Partnership with Raul Walters (1975-1984): Kroenke became involved in real estate in 1975, taking a job with Missouri real estate developer Raul Walters, who had built some of Walmart’s early stores. In 1979, Kroenke became a full partner with Walters, developing 20+ shopping developments across the Midwest. The partnership ended in 1984, and a ten-year legal battle ensued between Kroenke and Walters over how to split their holdings.
Kroenke also owns four cattle ranches, including:
- Douglas Lake Ranch: Canada’s largest privately held ranch, and largest working cattle ranch, with a cattle herd of 20,000, a herd of 300 horses, and more than half a million acres. Located NE of Vancouver, BC; acquired by Kroenke in 2004 for and estimated $68.5 million. Douglas Lake Ranch acquired nearby Alkali Lake Ranch, Canada’s oldest working cattle ranch, also located in British Columbia, in 2008. Alkali Lake Ranch is home to 1,600 cows. Kroenke has come under fire from locals near his Douglas Lake Ranch. Though Kroenke owns the surrounding land, lakes on his property, including Minnie Lake (one of the best lakes for trout fishing in North America) and Stoney Lake, are public property, and local residents have protested the Ranch’s restriction of use of the lakes to paying customers. The Nicola Valley Fish and Game Club is attempting to legally fight the Ranch’s monopolization of the lakes.
- Cedar Creek Ranch, Ennis, Montana
- PV Ranch, Hysham, Montana Q Creek Land & Livestock Company: Q Creek is the largest contiguous ranch in the Rocky Mountains, with over 570,000 acres near Mills, Wyoming. Q Creek is home to 12,000 cattle, 400 bison, 10,000 antelope, and 2,000 elk.
- Broken O Ranch: Kroenke purchased this 124,000-acre northwest Montana ranch in late 2012 for a reported $90 million.
After his purchase of Broken O, Kroenke reportedly controls 864,000 acres of land — land area roughly equal to four and a half times the size of New York City or three times the size of Los Angeles — and is the eighth-largest landowner in the U.S.
Vineyards and resorts
Kroenke, in partnership with Charles Banks, has invested in vineyards in California (Screaming Eagle Vineyard in Napa Valley; Jonata Vineyard in Santa Barbara; and Meadowood Vineyard and resort in St. Helena) and resorts in Hawaii and Mexico. The current status of these projects is unknown, though Charles Banks is reportedly not involved in the projects any longer.
Kroenke has been called a “staunch Republican.”
Since 2000, Stan Kroenke has made $292,000 in federal political donations, 95% of which has gone to Republican candidates or organizations.
In state elections, primarily in Missouri, Ann and Stan Kroenke donated a combined $9,550 between 1998 and 2008, of which $2,650 went to Democrats and $6,900 went to Republicans. Ann donated $4,900 ($1,500 to Democrats, $3,400 to Republicans) of this money on her own, $1,400 (all to Republicans) was donated in both Ann and Stan’s names, and Stan donated $3,250 ($1,150 to Democrats, $2,100 to Republicans) of it in his name alone.
University of Missouri: Alumni and an active supporter of the athletics program at the University of Missouri. In 2009, he was inducted into the Missouri Sports Hall of Fame.
According to his THF Realty biography, he is a member of St. Louis’ Civic Progress, and has served as a director or trustee (past or present) at Community Investments Partnership of St. Louis, the College of the Ozarks, Greater St. Louis Area Council – Boy Scouts of America, St. Louis Art Museum, and the Missouri Basketball Hall of Fame.