Josh Kroenke

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joshQuick facts

Family: Josh is the grandson of Bud Walton, who co-founded Walmart with his brother Sam, and the son of Stan and Ann Walton Kroenke. He also has one sister, Whitney Kroenke.

Age: 33 (born May 7, 1980)

Residence: Denver, CO. Kroenke purchased a 1,885-square foot condo for $1.4 million in 2007.[1] Prior to his move to Denver, Kroenke lived in a New York City condo that he and his sister Whitney purchased for $2.7 million in 2005. They sold it in 2007 for $2.55 million—below both the listed price of $2.9 million and their purchase price.

While in college, Kroenke found himself involved in a scandal which led to the resignation of Larry Eustachy, the coach of the Iowa State basketball team.  In 2003, Eustachy, a friend of Josh’s father Stan Kroenke, attended a student party with Josh in Columbia, Missouri. Photos of Eustachy drinking with college students at the party later surfaced and led to his resignation from his position at Iowa State.

Wealth

Josh Kroenke’s personal wealth has not been publicly disclosed.  However, ownership rules in the National Football League prohibiting cross-ownership of sports teams required his father, Stan Kroenke, to divest his ownership in the Denver Nuggets and the Colorado Avalanche, and as result he transferred his ownership to his sonForbes values the Nuggets at an estimated $427 million and the Avalanche at an estimated $210 million.

Kroenke’s father, Stan, has an estimated net worth of $5.3 billion as of September 2013, while his mother, Ann, has an estimated net worth of $4.7 billion.

Educational and professional background

Education

Kroenke attended the University of Missouri, in his hometown of Columbia, MO, on a basketball scholarship. According to the basketball team’s website, he studied Consumer and Family Economics. His official Denver Nuggets biography states that he earned a degree in financial management.

Professional life

After his graduation from Missouri, Kroenke moved to New York for an internship with the National Basketball Association. He then joined Lehman Brothers as an underwriter in its global real estate department.

In 2007, Kroenke relocated to Denver and went to work for his father’s two Denver sports franchises, the Nuggets and Avalanche. After working in a variety of positions he was appointed to the top leadership positions of both organizations in 2010 – President and Governor of the Nuggets and Governor of the Avalanche. In December 2013, Kroenke joined the board of Arsenal, the English Premier League soccer team in which his father holds a controlling stake.

Community connections

Kroenke’s Denver Nuggets biography states that he is an active supporter of charitable organizations, including the Todd Peglow Memorial Scholarship fund at the University of Missouri and the Playing for Change Foundation, of which his sister, Whitney Kroenke, is the executive director.

 

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