Page 34 - Forbes - USA (December 2019)

hand signs. Neither the
Astros nor Crane would
New Billionaire
comment for this story.
There’s no need to cry for
GRAND SLAM Crane: The Astros’ value has

nearly quadrupled, to $1.8
billion, since the Houston
32 The Houston Astros are being investigated by Major League Baseball over entrepreneur led a group
the team’s conduct, but the sport has made owner Jim Crane a billionaire.
that acquired the club in
2011. His estimated 40%
R
E stake is worth $600 million,
N pushing his net worth to
N
U $1.3 billion. Baseball has
R
T been a staple in his life: At
N Central Missouri State, now
O
R known as the University
F
of Central Missouri, Crane
pitched and earned a
degree in industrial safety
in 1976. After a stint in
the insurance business, he
borrowed $10,000 from
his sister and launched an
air-freight logistics business,
EGL, in 1984. He pocketed
more than $300 million
(pretax) selling EGL to
Apollo Global Management
for $2 billion in 2007,
and soon after reportedly
took three unsuccessful
swings at buying a Major

League franchise. He finally
Jim Crane sat atop a nightmare: Houston not charged in 2018 and was connected in 2011, securing
the baseball world three only lost the World Series suspended by the league the Astros—“a dream come
months ago. His Houston in a heartbreaking Game for 75 games; the charges, true,” he said at the time.
Astros were the World 7 but also endured a pair which he denied, were Crane, 65, also owns the
Series favorite after racking of PR disasters. A team later dropped). Then, in Floridian National Golf
up an MLB-best 107 wins executive had reportedly November, MLB opened a Club and has launched a

during the regular season. taunted female journalists wide-ranging investigation new firm, Crane Worldwide
A second title in three years during the playoffs about triggered by a report that Logistics, which operates

would cement them as a the Astros’ acquisition of a the Astros had set up a in 30 countries and had

modern-day dynasty. player accused of domestic camera in center field to estimated revenue of $900
That dream turned into violence (he had been steal the opposing catcher’s million-plus last year.

Trend Lines
TOP OF THE POPS

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DE BLANCS CHAMPAGNE
Want to elevate your Champagne game
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