In 2013, the Sacramento Kings faced uncertain times. Years of neglect and poor performance had left them at the bottom of the NBA, and ownership was considering selling the team to a group planning to relocate it to Seattle. Sacramento’s community rallied to keep the Kings in the city.

A rival group, led by Vivek Ranadive, stepped in to purchase the team, ending relocation talks and renewing hope for the franchise. This positivity paid off in 2022-23 when the Kings broke their 17-year playoff drought with a strong 48-34 season record.

As Ranadivé expressed after the Kings’ impressive achievement, “This is a city [Sacramento] that’s built on basketball. It’s got the best fan base in sports. And I so badly wanted this for our fans that when it finally happened.” His words highlighted his appreciation for the fans, making it clear this milestone was for Sacramento as much as it was for him.

Last season, the Kings had another strong performance, narrowly missing the Playoffs but securing a spot in the Play-In. As they set their sights on the playoffs again, it’s evident none of this would have been possible without Ranadivé and his team, who revitalized the organization and brought it back into playoff contention. Let’s take a closer look at Vivek Ranadivé and learn more about the man behind the Kings’ resurgence.

What is Vivek Ranadive’s net worth in 2024?

Boasting master’s degrees from both MIT and Harvard, Vivek Ranadive is a businessman, engineer, and founder of TIBCO Software. He currently serves as the chairman and CEO of the multi-billion dollar company. He is estimated to be worth around $700 million, according to Celebrity Net Worth.

Vivek Ranadive’s family and what faith does the Sacramento Kings owner follow?

Vivek Ranadive was born in Mumbai, India, and is the youngest of three children in the family. He moved to America at a young age to pursue his studies. His Instagram profile states that he’s an Indian-American entrepreneur. A Hindu by birth, he prefers to envision a world in which shared values take precedence over individual religions. He was married to his former wife Deborah Addicott, and the couple have three children together Aneel, Andre, and Anjali.

What percent of the Sacramento Kings does Vivek Ranadive own? Did the 67-year-old own the Golden States Warriors previously?

Before taking over the Sacramento Kings, Ranadive wrote his name in the history books by becoming the first person of Indian descent to become a co-owner of an NBA franchise with the Golden State Warriors. He became the Warriors co-owner in 2010 and also the vice chairman. Later, an opportunity arose and he became the owner of the Sacramento Kings after joining a few others in 2013.

But, for this to happen he had to cut his ties with the Warriors and sell his stake in the organization which he did before buying his current team. He purchased a 65% stake in the Kings, which was part of a deal worth around $348 million.

Who are the minority owners of the Sacramento Kings?

We are all aware that Vivek Ranadive is the owner of the Kings but, he was a part of a group that took over the organization and included minority owners Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller, and Kevin Nagle. These were the minority owners who helped Ranadive take charge in Sacramento.

However, this group sold their minority shares to Vivek Ranadive and Arctos Sports Partners back in 2021. Ranadive thanked the individuals for their help saying, “We are tremendously thankful to Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller, and Kevin Nagle for their transformational investment in our franchise,” he spoke in the media and added, “They have been instrumental in our vision for the organization and their commitment made it possible for the team to stay where it belongs – in Sacramento.” as he appreciated their contribution in keeping the team in the city where it belonged.