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Billionaires often make extravagant purchases - like buying their own sports team.
CEOWORLD magazine recently ranked the 20 wealthiest owners of major league sports teams around the world.
Some billionaire owners own more than one team - like Paul Allen, who owns the Portland Trail Blazers and the Seattle Seahawks.
Billionaires have a lot of cash to drop. Some are known to spend it on mansions. Others, private planes and luxury cars. And others still? They just buy their own sports team.
CEOWORLD magazine recently ranked the 20 wealthiest owners of major league sports teams using Forbes' World's Billionaires ranking. They found that of the 62 billionaire team owners around the world, their collected net worth is $375 billion. And for some, one team isn't enough - together, they own 78 teams.
In fact, three among the top five richest billionaire sports team owners own multiple teams, Microsoft cofounder Paul Allen among them. Dietrich Mateschitz and Stanley Kroenke own the most teams on the list, with three and four each, respectively. Only one woman makes the list: Marian Ilitch, the cofounder of Little Caesars Pizza.
From football to basketball, here's a look at the 20 richest owners of major sports league teams.
