Phoenix, AZ

The Phoenix man who became a billionaire this year

Ash Jurberg

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Each year Forbes releases a list of all the billionaires in the world.

In 2022, there are 2,668 billionaires around the world. This year, a new billionaire in Phoenix joined this prestigious list.

So let's take a look at the Phoenix man who became a billionaire this year.

The newest billionaire in Phoenix

Ken Kendrick has a net worth of $1 billion.

Kendrick earned a Bachelor of Science in Business Administration from West Virginia University in 1965 before commencing his career with IBM. Three years later, he founded Datatel, which has become the worldwide leader in developing computer software for the management of infrastructure technology for colleges, universities, and foundations.

However, Phoenix sports fans will know him best as the managing general partner and largest shareholder of the Arizona Diamondbacks baseball team. Kendrick helped bring the major league baseball team to Arizona in 1995, and they made their MLB debut in March 1998.

Kendrick also owns one of the world's most valuable baseball card collections, including a card that ESPN has called the most valuable in the world.

Last year Kendrick joined a group of investors, including sporting stars Kevin Durant and Arizona Cardinals wide receiver Larry Fitzgerald, to buy memorabilia authenticator Collectors for $853 million.

Philanthropy

Kendrick is using his fortune to help organizations in Phoenix and throughout Arizona.

Kendrick has helped turn the Arizona Diamondbacks "into one of the top philanthropic entities in the state." Under Kendrick's leadership, the Diamondback Foundation has passed the "$75-million mark in combined charitable giving since its inception, including more than $50 million in the last nine years."

Kendrick is a prostate cancer survivor and has contributed millions of dollars to fund research into prostate cancer. Kendrick has also funded Project Excellence, an educational program for inner-city youth at Phoenix Country Day School (PCDS), whose "mission is to enrich, engage and empower first-generation students (the first in their families to prepare for higher education) from local public schools."

Readers, are you glad to see another Phoenix-area resident join the billionaires club. Are you happy with how Kendrick runs the Diamondbacks? Do you think he does enough to support the local communities?

Please leave your comments below.

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