Every billionaire can buy anything they want, but only 32 billionaires can buy an NFL team.
Owning a football team helps billionaires diversify their portfolio, allows them to be visible, and enables them to leave a mark on history.
These are the reasons Steve Bisciotti bought the Baltimore Ravens. Forbes estimates Bisciotti's wealth to be $5.7B, making him the 188th richest person in the country. Bisciotti had a lot of money, and he wanted to use it to leave his mark on history.
Steve Bisciotti is married, has two kids, and lives in Millersville, Maryland.
Who is Steve Bisciotti?
Stephen (Steve) J. Bisciotti is an American business executive and the owner of the Baltimore Ravens of the NFL.
He was born on April 10, 1960, in Philadelphia, Pennsylvania. He grew up in a middle-class Italian-American family. His family moved to Maryland and settled in Severna Park, a few miles away from Baltimore.
His father died when he was 8, so he worked early to support himself.
His father was a successful construction salesman, so he could take his family to watch Baltimore Orioles and Colts games. When Stephen J. Bisciotti was eight years old, his dad died after struggling with Leukemia. When his father died, his maternal grandfather supported the family.
To support himself, Steve pumped gas, mowed lawns, and babysat at a young age. Then, in 1982, he graduated with a degree in liberal art from Salisbury State University in Maryland. One year later, he started a staffing company, Aerotek, with his cousin, Jim Davis.
He grew Aerotek from his basement and renamed it Allegis Group, which became the largest privately-owned staffing agency in the world. This rapid success allowed him to buy the Baltimore Ravens.
His business success motivated him to the Baltimore Ravens.
In 2000, Steve J. Bisciotti purchased 49% of the Baltimore Ravens and bought the other 51% three years later.
In the beginning, Bisciotti stayed hidden, trying to learn from Art Modell. However, even after Bisciotti took full control of the team in 2004, Modell maintained a constant presence at the games and the training facility.
Since then, the team has won two super bowls, and Steve Bisciotti built a state-of-the-art training and practice facility.
After opening the training facility, Brian Billick said, "A facility can't win a game for you, but what Steve built gives us an edge. Players spend more time here preparing to win because it's a good place to get work done and hang out with teammates and coaches."
He has a canny ability to find talented people.
Bisciotti admits he doesn't know much about football, but he uses his ability to find and hire people to help him run an elite organization.
His ability to identify talented individuals was clear when he hired a special-team coach, John Harbaugh, to replace Billick. Gary Williams, Maryland men's basketball coach, SteveJ. Bisciotti's friend said, "That is a big part of his decision-making. One of Steve's strengths is his ability to read people."
Steve and his wife love to give their community back.
Steve and Renee founded the Bisciotti Foundation in 2001. They focus on supporting educational causes and Roman Catholic organizations.
Last January, The Stephen and Renee Bisciotti Foundation donated $5 million to support Catholic Charities of Baltimore-affiliated programs in Baltimore and nine Maryland counties.
Bisciotti supported players' rights to protest.
Baltimore Ravens owner Steve Bisciotti supported his player's right to protest by kneeling during the national anthem.
"We respect their demonstration and support them 100 percent. All voices need to be heard. That's democracy in its highest form."
If you had his money, what causes would you support?