Boston Celtics Owner Net Worth (Updated 2026).
Welf Herdman, born in 1940, began his professional journey in the finance world, graduating from Harvard Business School and eventually becoming a successful investment banker. His passion for basketball, however, was always present, leading him to his first foray into the sports industry in the late 1970s when he joined the Boston Celtics’ ownership group.
In 1983, Herdman, along with a group of investors, purchased the struggling Celtics from the league for a reported $12 million. He became the team’s majority owner and chairman, a role that would catapult him to fame in the sports world. Under his leadership, the Celtics returned to their former glory, winning three NBA championships in the 1980s, a period often referred to as the “Celtic Dynasty.”
**Boston Celtics Owner’s Current Net Worth (2025)**
As of 2025, the current net worth of the Boston Celtics owner, **Wynn Resorts Ltd. CEO Matt Maddox**, is estimated to be around $1.2 billion, according to Forbes. This significant wealth is a testament to his successful leadership in the gaming and hospitality industry.
**Career**
Matt Maddox’s career spans over two decades in the gaming and hospitality sector. He joined Wynn Resorts in 2002 and held various executive positions before becoming the CEO in 2018. Under his leadership, Wynn Resorts has expanded its presence globally, with properties in Las Vegas, Macau, and Boston.
**Other Ventures**
Beyond Wynn Resorts, Maddox has invested in various other ventures. He is a co-owner of the Boston Celtics, acquiring a minority stake in 2021. He also serves on the board of directors for several companies, including Wynn Resorts and the Massachusetts Convention Center Authority.
**Assets**
Maddox’s assets include a substantial stake in Wynn Resorts, valued at over $800 million as of 2025. He also owns a luxury apartment in Boston and a private residence in Las Vegas. His collection of fine art and classic cars is renowned in the industry.
**Annual Income**
As the CEO of Wynn Resorts, Maddox’s annual income is significant. In 2021, his total compensation was $22.5 million, including salary, bonus, and stock awards. This figure reflects his substantial contribution to the company’s success.
Frequently Asked Questions about Boston Celtics Owner
**Frequently Asked Questions: Boston Celtics Owner Net Worth**
1. Who is the current owner of the Boston Celtics?
The current majority owner of the Boston Celtics is Wyc Grousbeck.
2. When did Wyc Grousbeck become the owner of the Boston Celtics?
Wyc Grousbeck, along with his partner Steve Pagliuca, purchased the Boston Celtics in 2002.
3. How much is the Boston Celtics worth?
As of the latest estimates, the Boston Celtics are worth approximately $3.1 billion.
4. What is Wyc Grousbeck’s net worth?
Wyc Grousbeck’s net worth is estimated to be around $1.2 billion.
5. How did Wyc Grousbeck make his fortune?
Wyc Grousbeck co-founded and served as the CEO of a successful medical device company, AGA Medical, before selling it to St. Jude Medical in 2010. He also has significant investments in various other businesses.
6. How much did Wyc Grousbeck pay for the Boston Celtics?
In 2002, Wyc Grousbeck and his partner Steve Pagliuca purchased the Boston Celtics for $360 million.
7. Who was the previous owner of the Boston Celtics?
The previous owner of the Boston Celtics was Paul DuPonte.
8. How many NBA championships have the Boston Celtics won under Wyc Grousbeck’s ownership?
The Boston Celtics have won one NBA championship under Wyc Grousbeck’s ownership, in 2008.
9. What is Wyc Grousbeck’s role in the Boston Celtics’ management?
Wyc Grousbeck serves as the Governor (owner and chairman) of the Boston Celtics. He is involved in various aspects of the team’s management, including strategic decisions and long-term planning.
10. How does Wyc Grousbeck’s net worth compare to other NBA team owners?
Wyc Grousbeck’s net worth places him among the wealthier NBA team owners. However, he is not the richest, with several other owners having net worths in excess of $2 billion.
