Table of Contents
What is Philip Anschutz’s Net Worth?
Philip Anschutz, a prominent American businessman and entrepreneur, has an estimated net worth of $15.3 billion. Anschutz’s wealth is primarily derived from his ownership of the Anschutz Corporation, which controls a vast array of businesses across various industries.
The crown jewel of his empire is the Anschutz Entertainment Group (AEG), a global sports and entertainment company that owns and operates numerous venues, sports teams, and music festivals. AEG’s portfolio includes high-profile assets such as the Los Angeles Kings NHL team, a stake in the Los Angeles Lakers NBA team (which he sold in 2021), and the world-renowned Coachella Valley Music and Arts Festival.
Anschutz has built his fortune through strategic investments in energy, railroads, real estate, and media. His business acumen has led to successful ventures and lucrative sales, including the sale of a controlling stake in Regal Entertainment Group and billions of dollars in energy asset divestitures.
Here’s the breakdown of Philip Anschutz’s net worth:
Name: | Philip Anschutz |
Net Worth: | $15.3 Billion |
Date of Birth: | December 28, 1939 |
Profession: | Businessperson, Financier, Entrepreneur |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Philip Frederick Anschutz was born on December 28, 1939, in Russell, Kansas, to Fred and Marian Anschutz. His father was an oil tycoon and land investor, which influenced Philip’s early exposure to the business world.
The family later moved to Wichita, Kansas, where Philip attended Wichita High School East. He went on to earn a bachelor’s degree in business from the University of Kansas in 1961, graduating with honors.
Initially planning to attend law school at the University of Virginia, Anschutz instead took over the family business, Circle A Drilling, due to his father’s health issues and the company’s financial difficulties.
Land Acquisitions
Anschutz’s business acumen became evident early in his career through strategic land acquisitions. In the early 1970s, he purchased a property on the Wyoming-Utah border known as Anschutz Ranch East. This investment paid off significantly when Amoco Corporation discovered a massive oil and natural gas reservoir adjacent to his land in 1978.
Instead of selling his mineral rights to Amoco, Anschutz expanded his holdings in the Overthrust Belt, acquiring leases on ten million acres. In 1982, he sold a half-interest in these mineral rights to Mobil Corporation for $500 million, a move that solidified his status as a billionaire.
Railroads and Oil
Anschutz’s ventures into the railroad and oil industries were pivotal in building his fortune. After stabilizing and growing Circle A Drilling, he diversified into railroads by purchasing the Denver & Rio Grande Western Railroad in 1984 for $90 million. He later acquired the Southern Pacific Railroad in 1988, merging it with the Rio Grande.
In 1996, he sold the combined entity to Union Pacific Railroad for $5.4 billion, netting a significant profit. His strategic use of railroad rights-of-way to lay fiber-optic cables led to the creation of Qwest Communications, further boosting his wealth.
Telecommunications
Anschutz’s foray into telecommunications began with the establishment of Qwest Communications in 1988. Leveraging the rights-of-way from his railroad holdings, he laid fiber-optic cables across the United States, creating a high-speed network that became the backbone for early internet traffic.
Qwest went public in 1997, with an initial public offering that valued the company at $2 billion. Anschutz’s stake in Qwest, which he retained at 84%, was worth $4.9 billion by the end of that year.
Sports and Entertainment
Anschutz’s impact on the sports and entertainment industries is substantial. He co-founded Major League Soccer (MLS) in 1996 and became the investor/operator of the Colorado Rapids.
His company, Anschutz Entertainment Group (AEG), owns and operates numerous sports teams and venues, including the Los Angeles Kings (NHL) and the LA Galaxy (MLS). AEG also manages high-profile events like the Coachella Valley Music and Arts Festival.
In 1999, AEG opened the Staples Center in Los Angeles, a premier venue for sports and entertainment events. Anschutz’s investments in this sector have made AEG a global leader in live entertainment.
Other Business Interests
Beyond his primary ventures, Anschutz has diversified his investments into various other sectors. He owns Xanterra Travel Collection, which operates lodges and concessions in national parks, and The Broadmoor-Sea Island Company, which manages luxury resorts.
His media holdings include Clarity Media Group, which owns the Washington Examiner and other publications. Anschutz has also invested in film production through Walden Media, known for producing family-friendly films like The Chronicles of Narnia.
His ability to identify and capitalize on opportunities across different industries has been a key factor in his sustained financial success.
Political Activity
Philip Anschutz is a significant figure in American conservative politics, known for his substantial financial contributions to Republican candidates and conservative causes.
Over the years, he has donated millions to various political campaigns and organizations. For instance, between 2010 and 2017, Anschutz funded groups such as the Alliance Defending Freedom, the National Christian Foundation, and the Family Research Council, which are known for their conservative stances on social issues.
His political influence extends beyond donations; he has also been involved in lobbying efforts. In 2006, a lawyer for Anschutz recommended Neil Gorsuch for a seat on the U.S. Court of Appeals for the Tenth Circuit, a move that eventually led to Gorsuch’s nomination and confirmation.
Anschutz’s political activities are not limited to national politics. He has also played a significant role in Colorado’s political landscape. Despite being a member of the Colorado Republican Party, he has shown a willingness to engage in bipartisan dealings to protect his business interests.
For example, he reportedly made a deal with Colorado Governor Jared Polis, agreeing not to support Polis’s Republican opponent in exchange for favorable treatment of his business ventures.
Personal Life and Philanthropy
Philip Anschutz leads a relatively private life, despite his immense wealth and influence. He is a conservative Christian and a member of the Evangelical Presbyterian Church.
He and his wife, Nancy, whom he met in high school, have three children. Anschutz is known for his reserved nature, having granted only a handful of formal interviews since 1979. He is also an avid runner, having completed 15 marathons, which speaks to his disciplined and determined character.
Anschutz’s philanthropic efforts are extensive and varied. He heads the Anschutz Foundation, which has donated over $2 billion to various causes since its inception in 1984.
The foundation’s contributions have significantly impacted the University of Colorado Anschutz Medical Campus, to which the Anschutzes have donated nearly $300 million since 2000. Their support has helped develop state-of-the-art medical facilities and research programs. In addition, they have contributed to educational institutions, public and charter schools, and numerous other nonprofit organizations.
The Anschutzes’ philanthropy extends to the arts and social causes as well. In 2018, Philip Anschutz donated $1 million to the Elton John AIDS Foundation, reflecting a commitment to addressing public health issues.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
