Moreno, Arturo “Arte,” was born in the United States on August 14, 1946. He bought the Anaheim Angels baseball team from the Walt Disney Company on May 15, 2003, making history as the first Mexican-American to own a major sports team in the United States.
| Net Worth: | $3.5 Billion |
| Date of Birth: | Aug, 1946 (76 years old) |
| Gender: | Male |
| Profession: | Businessperson |
| Nationality: | United States of America |
Early Life
Moreno is the eldest of 11 children born to Mexican immigrants Maria and Arturo Moreno, and he was born in the Mexican American community of Tucson, Arizona.
Both his father and grandparents were involved in the printing industry in Tucson; his father managed a small print business, and his grandfather founded the city’s first Spanish-language newspaper.
His high school career ended in 1965, and in 1966 he was drafted into the U.S. Army to serve in Vietnam.
He returned to civilian life in 1968 and, in the following years, attended the University of Arizona, where he earned a marketing degree in 1973.
Career
He was hired by Eller Outdoor, an advertising firm, immediately after finishing his education. Over the next seven years, he traveled all over the country multiple times until returning to Phoenix, Arizona in 1984 and landing a job with billboard business Outdoor System
In 1984, Moreno and his friend Wally Kelly tried to buy the company from owner William S. Levine, but they were unsuccessful.
Following the cooperation between Moreno, Kelly, and Levine, Moreno assumed the role of president and CEO. Moreno made Outdoor Systems public in 1996.
The stock price of Outdoor Systems skyrocketed, and the company was acquired by Infinity Broadcasting for $8 billion in 1998.
Ownership in baseball As baseball is one of Moreno’s favorite sports, he invested in the minor league Salt Lake Trappers in 1986 together with 16 other people. Until 1992, the group controlled the team, and their investment paid off handsomely.
In 2001, Moreno had ambitions of one day being the owner of an MLB franchise. He tried to buy the Arizona Diamondbacks, a professional baseball team in his native state, but the deal fell through.
He never gave up on his dream of owning a Major League Baseball franchise, and he quickly set his sights on the 2002 World Series champion Anaheim Angels.
Moreno and The Walt Disney Company announced the sale of the franchise to Moreno for $180 million in April of 2003.
The sale of the Angels to Moreno was officially sanctioned by Major League Baseball commissioner Bud Selig on May 15, 2003.
Diamondbacks owner Jerry Colangelo, who is also a personal friend of Moreno’s, was among the first to congratulate Moreno after the news broke.
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Networth
Arturo Moreno American businessman Arturo Moreno has a net worth of $3.5 billion. He made history by being the first Mexican American to buy a major American sports team.
From the Walt Disney Company, he acquired the Anaheim Angels in 2003. The squad was renamed Los Angeles Angeles after his decision. He began his career in outdoor advertising in the early 1980s after serving in Vietnam and was hired by Eller Outdoor.
He relocated to Arizona in 1984 and began working for Outdoor Systems. In 1996 Arte was both CEO and a significant stakeholder, and he decided to take the company public.
The initial public offering was wildly successful. For $8 billion in equity, Infinity Broadcasting bought Outdoor Systems in 1998.
Arte had previously owned a team in a lower league, but he started saving his money in 2001 in order to purchase a team in the main leagues. Finally hitting the jackpot in 2003, he purchased the Anaheim Angels from Walt Disney for $180 million.
Arte signed a lucrative contract to broadcast games with Fox Sports before the 2006 season began. Word on the street has it that the ten-year agreement was for well over a billion dollars.
In the same year, only three years after acquiring the team, the Angels’ market worth had increased to $380 million. As of the year 2020, the squad was worth $2 billion.
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Personal Life
Moreno has gone through two marriages. He’s a father of three. Moreno and his wife started a foundation in 1997 to help kids and educational organizations.
It has also helped the University of Arizona’s sports teams. In addition to this, Moreno is extremely careful to protect his personal information.
He usually declines interviews and stays mum about his private life. In the same vein, his loved ones are reluctant to discuss his private life in public.
However, they are quick to describe him as “unabashed in his support of Republican politics” and “especially loyal to his family” in off-the-record conversations.
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