About Robert Kraft
Robert Kraft owns the New England Patriots, a team he bought in 1994 for US$175 million. The Patriots are one of three teams to win six Super Bowls and the only original AFL team to have accomplished that feat. Robert Kraft has an estimated net worth of $4.2 billion.
The Early Years
Kraft was born in Brookline, Massachusetts, in 1941 and attended Middlesex School. He later went on to study at Columbia University. He received his Bachelor’s degree in Economics in 1963 and his Juris Doctorate from the University of Michigan Law School in 1966, where he was a member of the Alpha Delta Phi fraternity and the Columbus Law Review.
After graduating from law school, Kraft spent a year working in the New England Confectionery Company family business. In 1967 he joined Salomon Brothers, an investment banking and securities firm. He left in 1970.
The Businessman Becomes a Football Owner
In July 1970, Kraft began buying stocks in the Boston Patriots of the newly formed American Football League (AFL). In 1973 he bought out his father’s share of the team for US$5 million and became the majority owner. The team won the AFL Championship in 1974 but was defeated by the Minnesota Vikings in two games in a Super Bowl played at Tulane University the following year. They won another championship in 1985.
Over the years, Robert Kraft has continually expanded his business interests and investments, turning his family’s candy business into a large global conglomerate with interests ranging from food and retail to real estate development, finance, and technology. This included the acquisition of the New England Revolution, which he bought in 1994.
In 2001, Robert Kraft was arrested at the Palm Beach International Airport in Florida when he set off a metal detector and had to be frisked. He was not charged with any crime but had to pay a US$25 fine for the inconvenience.
Kraft is married to Myra Hiatt Kraft, whom he met while studying at Columbia University. They have three children: Jonathan, Joshua, and Daniel. His son Jonathan Kraft is president of The Kraft Group and the New England Revolution.
In August 2017, Robert and Myra Kraft pledged to donate all proceeds from their $5 million donation to the Trump inaugural committee to the newly renamed anti-hate group, the “Southern Poverty Law Center,” for monitoring hate crimes in America. See related link to learn more.
More about Kraft on https://www.forbes.com/profile/robert-kraft/