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Lewis Wolff
American real estate developer (born 1935)
American real estate developer (born 1935)
| Field | Value |
|---|---|
| name | Lewis N. Wolff |
| caption | Lew Wolff in 2008 |
| birth_date | |
| birth_place | St. Louis, Missouri |
| nationality | American |
| alma_mater | University of Wisconsin (B.A.) |
| Washington University in St. Louis (M.B.A.) | |
| occupation | Investor |
| spouse | Jean Wolff |
| children | 3 |
| known for | Former owner and current chairman emeritus for the Oakland Athletics |
| Former owner of the San Jose Earthquakes |
Washington University in St. Louis (M.B.A.) Former owner of the San Jose Earthquakes Lewis N. Wolff (born December 13, 1935) is an American real estate developer. Wolff had been co-chairman of the Board of Sunstone Investors, Inc. from October 2004 to April 2014. Wolff owned sports franchises. He was most well known for his ownership of the Oakland Athletics and as the co-owner of the San Jose Earthquakes of Major League Soccer. However, in November 2016, Wolff sold his share in the Oakland Athletics to John J. Fisher, and currently serves as the team's Chairman Emeritus. Wolff is credited with the redevelopment and revitalization of downtown San Jose, California where he was the largest developer of offices, hotels, and parking for many years.
Early life and education
Lewis "Lew" Wolff was born on December 13, 1935 to a Jewish family in St. Louis and was raised in the middle-class suburbs of University City, Missouri. Wolff graduated from the University of Wisconsin-Madison and a fraternity brother of former MLB Commissioner Bud Selig and US Senator Herb Kohl. In 1961, he earned an MBA from the Olin Business School at Washington University in St. Louis.
Career
In 1958, Wolff took a job as a real estate appraiser in St. Louis. In 1961, his company sent him to Los Angeles to open a regional office and in 1963, he co-founded a real estate consulting firm. In the 1960s, he was very successful developing the booming San Jose market and earned a solid reputation in the industry. In the 1970s, he accepted a position with 20th Century Fox tasked with managing its worldwide real estate investments. Wolff's approach was to find partners willing to fund the majority of the investment then take a more passive role, which would allow Wolff to directly manage the investment himself.
In 1994, Wolff founded Maritz, Wolff & Co with Philip Maritz in St. Louis, Missouri. The company owned interest in eighteen hotel and resort properties around the world, including the Fairmont San Jose Hotel, the Fairmont San Francisco, the Carlyle Hotel in New York, the Four Seasons Hotel Nevis, the Four Seasons Hotel Toronto, and the Park Hyatt Sydney. In 2011 Wolff and his partner, Philip Maritz, orchestrated the $800 million sale of five hotels, including The Carlyle and the Rosewood Management Company to New World, a Hong Kong-based real estate and hotel company.
In the past, he has been a co-owner of the St. Louis Blues of the National Hockey League and the Golden State Warriors of the National Basketball Association. On April 1, 2005, Wolff and an ownership group led by The Gap heir, John J. Fisher, purchased the Oakland Athletics baseball team for $180 million from Stephen Schott and Ken Hofmann. In 2006, the A's ownership group purchased an option to revive the San Jose Earthquakes franchise of Major League Soccer. At the 2007 MLS All Star Game, it was announced that Wolff had exercised the option, and the Earthquakes began play during the 2008 MLS season.
Oakland A's
Wolff was the Managing Partner of the Oakland A’s from 2005 -2015. Wolff and his partner, John Fisher invested $100 million and assumed $80 million in debt to acquire the team. During Wolff’s tenure, the team reached the play-offs 40% of the time, (Wolff credits Billy Beane with the team’s performance), never had a capital call and returned $58,400,000 of the initial $100 million investment.
Philanthropy
Under Wolff's ownership, the Oakland Athletics were community-minded. In 2011, Sony Pictures complied with Wolff's wishes in staging the motion picture premiere of Moneyball in Oakland, including a charity component that raised $370,000 for the Children's Hospital and Research Center Oakland and Stand Up To Cancer. Wolff is also an active participant in the A's Home Run Readers program.
The San Jose Mercury-News ranked Wolff first in its annual listing of the Bay Area's 25 Most Powerful Sports Figures in both 2006 and 2007. In September, 2008, the Silicon Valley Leadership Group also presented Wolff with its prestigious "Community Cornerstone Award," given to "a Silicon Valley leader who has displayed a lifetime of impeccable ethics, business achievement and community engagement." Wolff's Family Foundation supports numerous causes with emphasis on Stand-Up to Cancer, KIPP Charter schools, Planned Parenthood, Yavneh Day School, Los Gatos, California. The most recent activity is a personal campaign to research and address the impact of Narcissistic Personality Disorder (NPD) in the field of family law and children of divorce.
Stadium efforts
In 2015, Wolff claimed that the A's are "looking to stay in Oakland. ... We have not been looking at venues in other places in the Bay Area," he said. "And we are not planning to look." In 2014, the A's signed a 10-year lease to stay in the Oakland Coliseum. Shortly thereafter, the A's invested $10 million in new video boards at the Coliseum as part of the lease agreement.
Personal life
Wolff is married to Jean Wolff and has three children and four grandchildren. They live in the Westwood neighborhood of Los Angeles.
References
References
- "Lewis Wolff - Forbes". forbes.com.
- Ozanian, Mike. (November 18, 2016). "Fisher Family Buys Remaining Stake Of Oakland Athletics From Wolff". Forbes.
- "Oakland A's".
- [https://www.bloomberg.com/news/2011-04-06/oakland-a-s-owner-wolff-seeks-1-8-billion-return-on-hotel-deals.html Bloomberg: "Oakland A's Owner Wolff Seeks $1.8 Billion From Hotels as Sales Considered" By Nadja Brandt] {{Webarchive. link. (2015-01-14 Apr 6, 2011)
- [http://www.jweekly.com/article/full/61759/oakland-as-ready-for-their-first-jewish-heritage-game/ JWeekly: "Oakland A’s Ready for Their First Jewish Heritage Game" by Andy Altman-Ohr] {{Webarchive. link. (2013-07-28 May 11, 2012)
- [http://www.sfgate.com/sports/shea/article/A-s-NEW-ERA-LEWIS-WOLFF-A-fan-since-childhood-2689051.php#ixzz2Ogn2dscK San Francisco Gate: "A's NEW ERA / LEWIS WOLFF / A fan since childhood finally gets to own a team" by John Shea] {{Webarchive. link. (2013-06-18 March 31, 2005)
- where he was a member of the [[Pi Lambda Phi]] fraternity,2011 Pi Lambda Phi Membership Guide
- Tyler Kepner. (September 22, 2012). "Relocation of A's Has All the Plans but No Permit". [[The New York Times]].
- "Corporate profile: History". Maritz, Wolff & Co..
- "Portfolio". Maritz, Wolff & Co..
- "Executive profile: Lewis N. Wolff". Maritz, Wolff & Co..
- "Lewis Wolff". [[Oakland Athletics]].
- Michelle Smith. (May 25, 2006). "A's gain rights to revive Quakes". [[San Francisco Chronicle]].
- (2007-07-18). "Earthquakes return to San Jose in 2008". [[USA Today]].
- "Executive Bio".
- (21 June 2015). "A's co-owner Wolff not interested in sharing Coliseum site with Raiders".
- "A's lease settled after Lew Wolff accepts Oakland's changes".
- (September 2025). "A's upgrading Coliseum with new video boards".
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