Just like the Ambanis, different billionaires put their cash in sports activities groups, too. Roman Abramovich, the most important proprietor of Russia’s second-largest steelmaker, purchased London’s Chelsea soccer membership out of near-bankruptcy in 2003 for about $223 million on the time. Steve Ballmer, the previous Microsoft Corp. chief govt officer, paid $2 billion for the Los Angeles Clippers basketball group in 2014. 4 years later, hedge-fund titan David Tepper agreed to amass the Carolina Panthers soccer group for $2.3 billion.
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