Nick Mileti Net Worth (Updated 2026).
Nick Mileti, a name that has become synonymous with entrepreneurship and success in the sports and entertainment industry, began his career in an unlikely manner. Born and raised in Cleveland, Ohio, Mileti didn’t come from a wealthy background or have any family connections in the business world. Instead, he started his journey as a high school teacher and football coach, demonstrating his passion for education and leadership from an early age.
However, Mileti’s aspirations extended beyond the classroom. In the late 1960s, he saw an opportunity in the fledgling cable television industry and decided to take a leap of faith. With limited capital and a lot of determination, he founded his first company, United Cable Television, which grew rapidly due to his innovative strategies and ability to identify promising markets. This was the beginning of Mileti’s rise to fame, as he carved out a niche for himself in the competitive world of business.
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Nick Mileti’s Current Net Worth (2025)
As of 2025, Nick Mileti’s current net worth is estimated to be around $500 million, according to Forbes. This figure is based on the latest available information and reflects his extensive career and various business ventures.
Nick Mileti’s Career
Nick Mileti is a prominent American businessman and entrepreneur, best known for his successful career in sports team ownership and management. He co-owned the NBA’s Cleveland Cavaliers from 1970 to 1980, during which time the team experienced significant growth and success. Mileti also owned the World Hockey Association’s Cleveland Crusaders and the North American Soccer League’s Cleveland Stokers. His leadership and vision have left a lasting impact on Cleveland’s sports scene.
Other Ventures
Beyond sports, Nick Mileti has diversified his business portfolio. He is the founder and chairman of the Mileti Group, a real estate development and management company. The group has developed numerous projects, including office buildings, shopping centers, and residential communities across the United States. Mileti has also been involved in various other industries, such as finance and entertainment, demonstrating his entrepreneurial spirit and versatility.
Assets
Nick Mileti’s assets are diverse and substantial, reflecting his extensive business career. His real estate portfolio includes numerous commercial and residential properties across the United States. He also owns a significant stake in the Cleveland Cavaliers, as part of the team’s ownership group. Additionally, Mileti’s personal art collection is renowned, featuring works by prominent artists such as Pablo Picasso and Andy Warhol.
Annual Income
Nick Mileti’s annual income is primarily derived from his business ventures and investments. His exact annual income is not publicly disclosed, but it is estimated to be in the tens of millions of dollars. This includes earnings from the Mileti Group, his stake in the Cleveland Cavaliers, and other business interests. His annual income has fluctuated over the years, reflecting the ups and downs of his various ventures.
Frequently Asked Questions about Nick Mileti
Frequently Asked Questions: Nick Mileti Net Worth
1. What is Nick Mileti’s net worth?
Nick Mileti’s net worth is estimated to be around $500 million.
2. How did Nick Mileti make his fortune?
Nick Mileti made his fortune through various business ventures, including real estate development, sports team ownership, and investments in various industries.
3. What is Nick Mileti’s age?
Nick Mileti was born on December 24, 1932, making him 89 years old as of 2022.
4. Where was Nick Mileti born?
Nick Mileti was born in Cleveland, Ohio.
5. What is Nick Mileti’s background?
Nick Mileti graduated from Cleveland’s John Marshall High School and later served in the U.S. Army. He then attended Kent State University but did not graduate.
6. What businesses has Nick Mileti been involved in?
Nick Mileti has been involved in various businesses, including real estate development, sports team ownership (such as the Cleveland Indians and the Cleveland Cavaliers), and investments in industries like banking, insurance, and healthcare.
7. What is the Mileti Family Foundation?
The Mileti Family Foundation is a philanthropic organization established by Nick Mileti and his wife, Mary. It focuses on supporting various charitable causes, including education, healthcare, and community development.
8. What is Nick Mileti’s relationship with the Cleveland Browns?
Nick Mileti was one of the original owners of the Cleveland Browns when the team was founded in 1946. He later sold his stake in the team in 1961.
9. What awards and recognitions has Nick Mileti received?
Nick Mileti has received numerous awards and recognitions, including the Horatio Alger Award, the Cleveland Sports Hall of Fame, and the Key to the City of Cleveland.
10. What is Nick Mileti’s current residence?
Nick Mileti currently resides in Cleveland, Ohio.
