Marc Stad's $4.5 Billion NBA Franchise Acquisition: The Investor's Next Move

Marc Stad, founder of Dragoneer Investment Group—a $37 billion venture capital firm known for backing giants like OpenAI and Uber—has become the controlling owner of the Minnesota Timberwolves and Lynx basketball franchises in a $4.5 billion deal. This acquisition elevates Stad, a 46-year-old with a net worth exceeding $5 billion, into the NBA and WNBA elite. He secured the majority stake from former owner Marc Lore, purchasing over 15% of the teams. Forbes recently valued the Timberwolves at $3.6 billion and the Lynx at $320 million. Stad, a Stanford MBA graduate who previously worked at McKinsey & Co. and TPG, launched Dragoneer in 2012 with $1 million. The firm has invested in high-profile tech winners like DoorDash and Airbnb, and participated in OpenAI's $8.3 billion funding round in 2025 with a $2.8 billion check. Stad, who settled a legal dispute with former owner Glen Taylor in 2025, now shares governance with wife Elisa and former Yankees star Alex Rodriguez. The acquisition follows billionaire Josh Kushner and Bob Iger's $12.5 billion purchase of the Los Angeles Lakers last week. Stad, a philanthropist, donated to Kamala Harris' 2020 campaign and pledged $3 million to UCSF's pediatric pain center.