Ted Leonsis is an American multi-faceted businessman who has tasted success in various fields such as business, writing, filmmaking, and politics. He is the founder and CEO of Monumental Sports & Entertainment and is an investor and founding member of the Revolution Growth Fund. He ventured into films by producing the critically acclaimed documentary Nanking through his SnagFilms. Continue reading to know more about the life, career, and net worth of Ted Leonsis in 2018.
Early Life & Biography
Theodore John Leonsis was born on 8th January in the year 1957, in Brooklyn, New York, the United States to Greek immigrant parents. Leonsis attended the Brooklyn Technical High School and later the Lowell High School. He used to mow lawns for extra money during his high school days and on one such lawn mowing day, he impressed Jim Shannon, a wealthy stockbroker who helped Leonsis to enroll into the Georgetown University. He finished with top of the class in American Studies in graduation and went on to work at Wang Laboratories and Harris Corp.
Ted Leonsis married Lynn in August 1987. The couple has since been together as is blessed with a son and a daughter. Leonsis is a very much interested in music and sports.
Career, Awards & Nominations
Leonsis left Harris Corp in 1981 and founded the magazine LIST in 1982. The magazine focused on the computing industry, and its first issue sold $50,000 worth copies becoming an instant success. He sold the magazine to Thomson Reuters in 1984 for $40 million and established a marketing communications company Redgate Communications Corporation in 1987.
He sold the company to AOL in 1994 and joined them as their senior executive. His tenure increased its annual revenue from $100 million to $1.5 billion. He founded the Monumental Sports & Entertainment which owns many professional sports teams such as Washington Capitals, Washington Wizards, Washington Mystics, and Baltimore Brigade.
Leonsis is the founder and major shareholder of SnagFilms, a film producing and technology company through which he produced the documentary Nanking in 2007. The film won the 2009 News & Documentary Emmy Award and the 2008 Peabody Award. Kicking It, A Fighting Chance, and Lost for Life are some of his other productions.
He is the founder of Revolution Money and also a co-founder of Revolution Growth Fund II. He co-invested in the board game Only in New York and has authored books such as Blue Magic and The Business of Happiness.
Net Worth & Earnings
Through the sources mentioned above, he has amassed a very huge amount of wealth which puts him in the list of billionaires. He owns properties in most of the United States, and one such is his $25 million worth 13-acre estate in Maryland. His average annual income exceeds $2 billion and his net worth is $1.5 billion.
Ted Leonsis is also an active philanthropist who helps numerous children through his Leonsis Foundation. He has served more than 400 charities in the past 12 months through his establishments.