Find out who owns the Cleveland Cavaliers, owners of the source of wealth and ownership history of the franchise.
The Cleveland Cavaliers, often called the Cavs, is a household franchise in the NBA. Based in Cleveland, Ohio, they are part of the Eastern Conference Central Division.
Who owns the Cleveland Cavaliers?
The Cleveland Cavaliers is owned by Dan Gilbert, who has been the majority owner since 2005. The minority owners include Gary Gilbert, Usher Raymond and Myles Garrett.
Cleveland Cavaliers ownership structure
Dan Gilbert (majority)
Gary Gilbert (minority)
Usher Raymond (minority)
Myles Garrett (minority)
Dan Gilbert
Dan Gilbert is an American businessman and the co-founder of Rocket Mortgage. He also owns Rock Ventures, known for its operations in real estate and sports franchises. His net worth is estimated to be $26.7 billion.
Gary Gilbert
Gary Gilbert is an American film producer and businessman. He is the founder of Gilbert Films and co-founder of Rocket Mortgage. His net worth is estimated to be around $400 million.
Usher Raymond
Usher is an American singer, songwriter, dancer, and actor. He is one of the best contemporary R&B and pop music artists globally. His net worth is around $180 million.
Myles Garrett
Myles Garrett is an American pro football defensive end for the Cleveland Browns. His purchase of a minority stake in the Cleveland Cavaliers was announced on October 25, 2023.
Garrett was the NFL's Defensive Player of the Year in 2023. His net worth is around $60 million.
Club Net Worth & Valuation
According to figures from Forbes, the Cleveland Cavaliers are valued at $3.95 billion.
Club Ownership History
The Cavaliers franchise was founded in 1970. It was originally owned by Nick Mileti. Dan Gilbert purchased the franchise in 2005 and has been the majority owner ever since.
Trophies and Achievements
The Cleveland Cavaliers won their first NBA championship in 2016.