Philip Anschutz

Early life

Anschutz was born on December 28, 1939, in Russell, Kansas. He grew up in a family that owned a prosperous oil drilling business in Colorado. After completing high school, Anschutz attended the University of Kansas, where he earned a degree in business.

Philip Frederick Anschutz, born on December 28, 1939, is a wealthy American entrepreneur who has ownership or control over a diverse range of businesses in the energy, railroads, real estate, sports, entertainment, and media sectors. Anschutz acquired the parent company of the Journal Newspapers in 2004, which he transformed into a conservative editorial newspaper called the Washington Examiner.

Career

After college, Anschutz started working for his father’s oil drilling business.

In 1961, Philip Anschutz acquired Circle A Drilling, his father’s oil drilling company, and gained significant profits from his investments in Wyoming. He expanded his business ventures to include stocks, real estate, and railroads. Later on, he diversified his investments in sports and entertainment companies and was instrumental in co-founding the Major League Soccer, an American association football/soccer league, as well as multiple soccer teams such as the Los Angeles Galaxy, Colorado Rapids, Houston Dynamo, and more.

In 1970, Anschutz purchased Baughman Farms, a farming corporation that spanned over 250,000 acres (1,000 km²) in Liberal, Kansas, for a price of $10 million. The next year, he expanded his business by acquiring an additional 9 million acres (36,000 km²) of land along the Utah-Wyoming border, which brought him his first fortune in the oil industry. The Anschutz Ranch, which had a billion-barrel (160,000,000 m³) oil deposit, became the biggest oil field discovery in the United States since Alaska’s Prudhoe Bay in 1968 during the early 1980s. In 1982, Anschutz sold a portion of the ranch to Mobil Oil for a staggering sum of $500 million.

In 1982, he acquired a controlling stake in the Southern Pacific Railroad, which he then sold to Union Pacific Railroad in 1996 for $5.4 billion, earning him a significant profit.

Anschutz also founded Qwest Communications, a telecommunications company, in 1996, which grew to become the third-largest long-distance provider in the United States. He sold his stake in Qwest in 2006 for over $1 billion.

Anschutz’s business interests are vast and varied, ranging from sports to entertainment. He owns the Anschutz Entertainment Group, which operates a range of sports teams, including the Los Angeles Kings hockey team and the LA Galaxy soccer team. He also owns a controlling stake in Regal Entertainment Group, the largest chain of movie theaters in the United States.

The Anschutz Entertainment Group (AEG) is a subsidiary of The Anschutz Corporation, which presents sporting and music entertainment events. It is the largest owner of sports teams, sports events, and sports venues worldwide, and also owns entertainment venues. AEG Live, a subsidiary of AEG, is the second-largest presenter of live music and entertainment events after Live Nation. The company also owns the Coachella Valley Music and Arts Festival.

On September 18, 2012, Anschutz announced that AEG was up for sale, but later decided not to accept any of the bids. On March 14, 2013, he withdrew AEG from the market. In the field of sports, Anschutz was named the fifth most influential person in sports business in SportsBusiness Journal’s annual survey of the “50 Most Influential People in Sports Business” in 2012.

Anschutz is the primary owner of the Los Angeles Kings of the National Hockey League and a minority owner of the Los Angeles Lakers of the National Basketball Association. He also possesses stakes in prominent performance venues, including The O2 in London, the Dignity Health Sports Park, and the Staples Center. Through his ownership of Walden Media, he invested in the creation of movies such as Ray, The Chronicles of Narnia, and Joshua. Additionally, Anschutz controls the Coachella Valley Music and Arts Festival and Sea Island Resorts, as well as the Broadmoor hotel in Colorado through AEG Live.

In 2021, Forbes named him as the 66th wealthiest individual in the United States, with an estimated net worth of $10.1 billion.

Net Worth

As of 2021, Philip Anschutz’s net worth is estimated to be $15.2 billion, according to Forbes.

Achievement

Anschutz has received numerous awards and recognition for his philanthropy and business acumen. In 2002, he was awarded the Woodrow Wilson Award for Corporate Citizenship, and in 2012, he was inducted into the American Business Hall of Fame. In addition, he has made significant contributions to the arts and culture, including donating $90 million to the Colorado Symphony Orchestra and $50 million to the Museum of Contemporary Art in Los Angeles.

Successfully acquired his father's oil drilling company and expanded it to generate significant returns in Wyoming.

Diversified his investments into various industries, including energy, railroads, real estate, sports, media, and entertainment.

Co-founded the Major League Soccer and owned multiple soccer teams, including the Los Angeles Galaxy, Colorado Rapids, and Houston Dynamo.

Is the principal owner of the Los Angeles Kings of the National Hockey League and a minority owner of the Los Angeles Lakers of the National Basketball Association.

Possesses stakes in prominent performance venues such as The O2 in London, the Dignity Health Sports Park, and the Staples Center.

Invested in the creation of movies such as Ray, The Chronicles of Narnia, and Joshua through Walden Media.

Controls the Coachella Valley Music and Arts Festival, Sea Island Resorts, and the Broadmoor hotel in Colorado through AEG Live.

Named as the 66th wealthiest individual in the United States by Forbes in 2021, with an estimated net worth of $10.1 billion.

Namesake of CU Anschutz, the medical campus of the University of Colorado.