James Dolan Net Worth 2024: Business Ventures, Mansions, Cars and More About 69-Year-Old Knicks’ Owner

“Though the Knicks and Rangers are near and dear to my heart … I don’t really like owning teams,” James Dolan once remarked, as revealed in a 2017 New York Times report. A statement like this might make fans wonder: Why does James Dolan even own the New York Knicks?

The answer lies not in a lifelong dream to own a basketball team but rather in a strategic acquisition. Back in 1994, when Cablevision — the company founded by his father, Charles Dolan — purchased stakes in Madison Square Garden from Viacom, James Dolan’s association with the Knicks came as part of the package. With MSG, he also became linked to the WNBA’s New York Liberty, AHL’s Hartford Wolf Pack, and NHL’s New York Rangers.

Despite his ambivalence toward owning the Knicks, the franchise has certainly been lucrative for him. Alongside his other business ventures, the revenue generated from the Knicks has contributed significantly to his wealth. Just how high that number is? Let’s dive into the details of Dolan’s financial success.

What is James Dolan’s net worth?

At 69, James Dolan holds a personal net worth of around $2 billion, while the Dolan family collectively reaches $5 billion. Yet, Dolan still falls short of the NBA’s wealthiest franchise owners. Former Microsoft CEO Steve Ballmer, with an astonishing $121.4 billion net worth, leads the pack by a wide margin.

Dolan’s journey to success was not straightforward. Initially reluctant to join the family business, he tried to establish himself in the music industry. After limited success there, he shifted his focus to communications, eventually dedicating his career to Cablevision, where he took on various roles. By 1995, at just over 40, he became CEO, marking the beginning of a career that would see him build a diverse portfolio and establish the wealth and influence he holds today.

How much does James Dolan make from the New York Knicks and Madison Square Garden?

A year before James Dolan took on the CEO role, Cablevision acquired a 50% stake in Madison Square Garden Company, the entity overseeing New York’s famed arena and its resident sports teams. By 1997, Cablevision gained full ownership of MSG. Two decades later, Cablevision was sold, and Dolan shifted his focus to the MSG Company and Madison Square Garden Entertainment, the division responsible for non-sporting events like music concerts and graduations. Recently, this same company permitted Republican presidential candidate Donald Trump to hold a rally at the Garden.

According to a June 2024 report by the Wall Street Journal, James Dolan receives a minimum base salary of $1.5 million every year, thanks to his association with Madison Square Garden Entertainment. His contract, which won’t expire until June 2027, also promises him “an annual target bonus equal to no less than 200% of his base salary.” Additionally, James also additionally makes $8.6 million at least, in long-term awards, per year.

Being the owner of both the New York Knicks and the Madison Square Garden due to his role with MSG Sports and MSG Entertainment, Dolan was reported to be making $25.6 million annually back in January 2022. The compensation committees for both companies reportedly review James’s salary every year to ensure that the owner is “paid consistently with the market for other similarly situated executives as well as external peers.”

The Knicks collected $504 million in revenue and $169 million in operating income back in 2022. Therefore, the billionaire may have certainly benefited from the same. Due to this, Dolan has been one of the most vocal critics of the recent 11-year, $76 billion Media Rights Deal that the NBA and league commissioner Adam Silver proposed. After all, he believed, as reported by Front Office Sports, that the league office “would take a much larger portion of overall revenue sharing than it currently does.” For him, such a move lacked explanation.

What other business ventures is James Dolan a part of?

If you’ve ever scrolled through social media or visited Las Vegas in person, you might have seen the massive, eye-catching sphere lighting up the Vegas Strip with vivid LED displays. That spectacle is none other than the MSG Sphere, an ambitious project by Madison Square Garden Company, with James Dolan himself playing a pivotal role in bringing it to life. Designed to capture attention, this innovative arena has quickly become a must-see landmark in Vegas, showcasing Dolan’s vision for immersive entertainment on a grand scale.

Along with MSG, Dolan’s company also owns two other renowned entertainment venues in Manhattan itself: the Radio City Music Hall and the Beacon Theatre. Since 2008, he has also been owning the Chicago Theatre. Even for one person, so much can be overwhelming. Then again, having been in the business for decades, Dolan may know the best way to be efficient in handling his businesses while also launching new ones.

How many mansions does James Dolan own?

James Dolan, given his strong ties to Madison Square Garden, prefers to keep his primary residence close to New York City. He owns a sprawling 10,000-square-foot Colonial mansion in Oyster Bay, just a 55-minute drive from the city. The home offers plenty of room, featuring multiple bedrooms and four and a half bathrooms, comfortably accommodating Dolan, his second wife, and his five children.

In 2021, Dolan’s son, Ryan, made headlines with a significant real estate purchase of his own. He bought an $8.025 million home in California with a rich celebrity history. Previous owners included John Krasinski and Emily Blunt, with Kendall Jenner also having lived there for a period. The house was eventually sold to Ryan by Dalton Gomez, who was then married to Ariana Grande.

Does James Dolan possess his very own car collection?

Being a billionaire with certainly a taste for the finer things, one would certainly expect James Dolan to have his own car collection. If he does, however, he keeps any information about the same pretty tight-lipped.

Through his involvement with the New York Knicks, and projects like the Las Vegas Sphere, James Dolan continues occupying a prominent position in the public spotlight. The billionaire has made it clear that he has no intention of selling the NBA franchise. Therefore, his name is sure to come up in many stories involving the Knicks in the future.