Philip Anschutz Net Worth & Biography

Philip Anschutz is an American businessman who owns or manages companies and business ventures in a variety of industries, including sports, energy, entertainment, railroads, real estate, and newspapers. He purchased the parent company of the Journal Newspapers back in 2004, and under his direction, it became the American editorial newspaper Washington Examiner. This billionaire was born to Fred Anschutz and his wife Marian Pfister, whose memorial donations founded the Anschutz Family Foundation, which has, to date, distributed more than $50 million to various charitable causes. In 1961, Philip bought out Circle A Drilling, an oil drilling company that belonged to his father, and earned large returns in Wyoming. He invested in railroads, real estate, and stocks, and subsequently expanded his investments to media and sports companies, co-founding the American association football (soccer) league Major League Soccer (MLS) as well as multiple football (soccer) teams, including the New York/New Jersey MetroStars, San Jose Earthquakes, Houston Dynamo, Colorado Rapids, Chicago Fire, and the Los Angeles Galaxy. He owns a minority stake in the National Basketball Association’s Los Angeles Lakers and owns a majority stake in the Los Angeles Kings of the National Hockey League. His other investments include significant stakes in performance venues like the Dignity Health Sports Park, The O2, London, and the Staples Center. Through his ownership of Walden Media, Philip has invested in films like Joshua, Ray, and The Chronicles of Narnia. He also owns The Broadmoor hotel in Colorado, Sea Island Resorts and the Coachella Valley Music and Arts Festival through AEG Live. The University of Colorado’s medical campus, CU Anschutz, has been named after him. All the aforementioned business establishments and investments are some of the reasons why he was ranked the 66th richest person in the United States by Forbes magazine in January 2022.

Early Life: Childhood, Education

He was born Philip Frederick Anschutz on December 28, 1939 in Russell, Kansas, United States, to Marian and Frederick Benjamin Anschutz. Philip’s father was an oil magnate and land investor who made notable investments in ranches in Wyoming, Colorado, and Utah, and eventually ventured into the oil-drilling business. His grandfather, Carl Anschutz, was a German Immigrant who entered the United States from Russia and established the Farmers State Bank in Russell.

Philip was raised in Russell, Wichita, and Hays, Kansas. He attended Wichita High School East and left for the University of Kansas in 1957, where he earned a bachelor’s degree in business in 1961.

Professional Life: Entrepreneurial Career

Nine years after graduating from the University of Kansas, Philip Anschutz purchased the Baughman Farms in Liberal, Kansas. It was one of the country’s largest farming establishments. The next year, he acquired roughly 9 million acres along the Utah Wyoming border, and this led to his breakthrough in the oil business.

He entered the railroad business in 1984 when he acquired the Rio Grande Industries. A few years later, the Rio Grande railroad acquired the Southern Pacific Railroad under his leadership.

With the merger of the Union Pacific Corporation and Southern Pacific in 1996, he became the vice-chairperson of Union Pacific. Before the merger, he served as the director of Southern Pacific from 1988 to 1996.

In 1993, he became the director and chairman of the Board of Qwest. He also served as the director of Forest Oil Corporation in 1995. Also, he has been a director for Pacific Energy Partners.

He was Colorado’s only billionaire for many years during which he became one of the 50 largest landholders in America. Up next in his career, he ventured into railroads and telecommunications before moving into the entertainment industry. His other investments include stakes in the Los Angeles Kings, the Los Angeles Lakers, and venues such as the Home Depot Center and the O2 Arena.

Personal Life: Philanthropy, Private Interests

This intelligent investor and man of affairs is also a known humanitarian. His donation of over a hundred million dollars helped in the establishment of the Anschutz Medical Campus at the University of Colorado.

Despite all he owns and the magnitude of his prosperity, Philip Anschutz, who lives in Denver, is a man that is intensely private and does very little to publicize his lifestyle and his ownership of A.E.G. or any of his business activities for that matter.

He is married with three children.

Philip Anschutz Net Worth: Salary, Income Sources, Assets

As of this writing, Philip Anschutz’s net worth is estimated at $11 billion. This American entrepreneur who founded Quest Communications and was the former owner of the Union Pacific Railroad has been named as the 66^th richest man in the United States by Forbes magazine. He made his fortune by investing in numerous industries including sports, energy, entertainment, railroads, real estate, and newspapers. His media empire includes the Anschutz Film Group, the cinema chain Regal Entertainment Group, the newspaper company Clarity Media Group, and Bristol Bay Productions.

His empire of more than 150 companies is worldwide. As the owner of multiple football (soccer) teams, including the New York/New Jersey MetroStars, San Jose Earthquakes, Houston Dynamo, Colorado Rapids, Chicago Fire, and the Los Angeles Galaxy, his wealth makes him one of the wealthiest sports team owners on the planet. He spends some of his money on expensive purchases which includes his real estate in Colorado. He resides in his beautiful home in Denver, Colorado, and strictly maintains a very quiet and humble lifestyle.