Jim Pallotta Biography & Net Worth
Jim Pallotta Biography & Net Worth
|Popular Name:||Jim Pallotta|
|Real Name:||James Joseph Pallotta|
|Birth Date:||March 13, 1958|
Boston, Massachusetts, United States
|Profession:||Businessman, Investor, Entrepreneur|
|Net Worth:||$1 Billion|
Jim Pallotta is the founder and a managing partner of The Raptor Group. He controlled a $10 billion portfolio as the Vice Chairman of Tudor Investment Corporation Prior to establishing The Raptor Group. Between 2012 and 2020, Jim served as the Chairman and President of Italian Serie A outfit AS Roma Football Club and was an Executive Board Member and Co-Owner of the Boston Celtics of the NBA between 2002 and 2020.
Throughout his career, Mr. Pallotta has actively invested in and across several stages of countless companies within the media, sports, healthcare, technology, consumer, and financial services industries. He currently serves as a member of the Northeastern University’s Board of Trustees as well as on the boards of the Buoniconti Fund, the Santa Fe Institute, and New Profit, Inc. Jim also serves on the External Advisory Committee for the MIT’s Center for Brains, Minds, and Machines, as well as the Advisory Council for Tulco and the MIT Media Lab.
Early Life: Childhood, Family, Education
The American billionaire businessman, James Joseph Pallotta, was born on March 13, 1958, in Boston, Massachusetts, United States. His father was from Calabria, Italy, while his mother hailed from Canosa di Puglia, Apulia.
Along with sisters Christine and Carla Pallotta, Jim was brought up in the Italian north-end neighborhood of Boston. His sisters own and manage a small business in Boston’s financial district known as NEBO Cucina & Enoteca.
For his education, Jim Pallotta attended the University of Massachusetts Amherst for his BA and later the Northeastern University for an MBA.
Professional Life: Business Career
The entrepreneur is known for founding the private investment company, Raptor Group, in 2009. The company currently focuses on various industries such as financial services, entertainment, media, technology, consumer, and sports. It has offices in Abu Dhabi, London, Boston, New York City, and Miami.
Prior to Raptor Group, Jim Pallotta served as a partner and vice chairman of Tudor Investment Corporation.
Along with three other American businessmen (Richard D’Amore, Michael Ruane, and Thomas R. DiBenedetto), he acquired AS. Roma Football Club in 2011. He became the chairman of the club in 2012, succeeding Thomas R. DiBenedetto as the 23rd chairman in the club’s history. In December 2019, he entered the final stages of negotiations to sell the Serie A team for $872 million, to American investor Dan Friedkin. Friedkin signed the preliminary contract in August 2020 to agree to pay $591 million to Jim Pallotta, the main shareholder of Roma.
Asides from his investments and relationships with the above-mentioned businesses/companies, Jim was/is also known for a couple of incentives. He is a member of the Northeastern University Board of Trustees, as well as a board of trustees member for the Santa Fe Institute. He serves on New Profit Incorporated’s Board of Directors as well as on Tulco LLC’s Board of Advisors. Furthermore, he holds a position on the External Advisory Committee for MIT’s Center for Brains, Minds, and Machines (CBMM), and is also part of MIT Media Lab’s Advisory Council.
Achievements: Awards & Honors
This businessman is considered a guru for his accomplishments on the business front. Born into a low-income family, there are not too many immigrants in the US who eventually turned out to achieve billionaire status just as this man has done. He founded his first company Raptor Group in 2009 as a private investment company after spending earlier years as the vice chairman at Tudor Investment Corporation. He later achieved prominence by becoming the majority owner of AS. Roma Football club before selling the Italian side in 2020. Another of his remarkable accomplishment is his ownership of esports franchise Fnatic, as well as his being the co-owner and executive board member of the Boston Celtics of the National Basketball Association. These positions and feats are definitely some of the main reasons he is famous in the media today, and may be the reasons his name will continue to reign for more years to come.
Jim Pallotta Net Worth: Income Sources, Salary, Shares, Assets
American businessman Jim Pallotta, who made his fortune from owning and managing Boston Celtics of the NBA and AS Roma of the Italian Serie A, is said to have a fortune of $1 billion according to a very recent evaluation. The University of Massachusetts Alumnus is also known for taking profits from his private investment company, the Raptor Group which he founded more than a decade ago in 2009. Another income-generating business for Jim is his co-ownership of the esports franchise Fnatic, as well as his various roles as chairman and board member of many organizations and companies.