Meet The 11 Black NBA Owners (Not All Of Them Are Celebrities)

Whether someone is a minority owner or a majority owner of an NBA franchise, owning a piece of a sports team is a huge accomplishment and financial investment. It is also a huge responsibility. According to the Bleacher Report, “the fate of every NBA franchise is tied more strongly to ownership than anything else. Success (and failure) really does start at the top.” So, which Black business owners signed up for this exciting undertaking?

Here are the 11 Black NBA owners:

1) Jermaine Lamarr Cole aka J. Cole, owner of the Charlotte Hornets

J Cole fans aren’t surprised by his investment since he has had a passion for basketball for as long as he had a passion for music. J. Cole played basketball in high school and tried out as a walk-on for the St. John’s University basketball team, in which he nearly made the cut.

He also joined the Rwanda Patriots Basketball Club, which was part of the newly formed Basketball Africa League, and played with the Scarborough Shooting Stars in Canada for the 2021-2022 season.

2) Damian Mills, owner of the Charlotte Hornets

Damian Mills is the President and CEO of Mills Auto Group. He owns over a dozen car dealerships in multiple states, BlackBusiness.com reported that Mills got his start as an entrepreneur in 2004 when he used his life savings to purchase a Ford dealership in Smithfield, NC. Two years later, he purchased a Chrysler dealership in Fort Mills, SC. By the year 2009, he already had several profitable dealerships that were generating almost $100 million in annual revenue.

3) Dwyane Wade, owner of Utah Jazz 

Dwayne Wade, former NBA player of the Miami Heat (as well as the Bulls and Cavaliers) and Gabrielle Union’s husband, has been a minority owner since 2021 according to Sportingnews.com.

He never had any connection to the franchise during his career on the court, but he’s used his relationship with team owner and businessman Ryan Smith to embark on a new journey as an executive in Utah. Talk about making a pivot.

4) David Robinson, owner of the San Antonio Spurs

David Robinson is a former NBA player of the San Antonio Spurs. Prior to his legendary status in basketball, he earned national attention as a basketball star at the United States Naval Academy as reported by Sportscasting.com. Although he had a lucrative career while on the court, he had made even more money off the court. According to Celebrity Net Worth, Robinson’s private equity fund, Admiral Capital, raised $115 million after its 2007 launch. He later acquired $350 million worth of real estate assets. As a way to expand his portfolio, sportscasting.com also reported that Robinson purchased a 1.88 percent equity stake in the Spurs in 2004.

5) Grant Hill, owner of the Atlanta Hawks

Grant Hill was a star player at Duke University and in the NBA prior to co-owning the Atlanta Hawks. He played for the LA Clippers, Phoenix Sun, Orlando Magic and the Detroit Pistons. Since retiring as a player at the end of the 2012-13 season, he has been involved in media and business interests as reported in the Atlanta Journal Constitution. Recently, he and his wife, singer Tamia, have announced a limited ownership in the Orlando City Soccer Club and the National Women’s Soccer League‘s Orlando Pride.

6) Valerie Daniels Carter, owner of the Milwaukee Bucks

“Valerie Daniels Carter grew up at 44th and Hampton on Milwaukee’s north side”, according to WTMJ-TV Milwaukee. “She went on to found her own company called V&J Holding Companies in Milwaukee and become one of the country’s most successful fast-food franchisers. Daniels-Carter helped form Partners for Community Impact, a group of diverse community investors that purchased a minority stake in the Bucks in 2014… She also sits on the board of directors for the Green Bay Packers.”

7) Myles Garrett, owner of the Cleveland Cavaliers

Myles Garrett is a defensive player on the Brown’s NFL team. Although he has made his career in football, he played in the NBA’s All-Star Celebrity Game in 2022. According to the NBA, “Garrett finalized a deal to purchase a minority ownership stake in the Cleveland Cavaliers, the team announced. Garrett’s share of the team is not immediately known, but the Cavaliers said he also will serve as an official ‘brand ambassador’.”

8) Usher Raymond, owner of the Cleveland Cavaliers

Unless you live under a rock, you know exactly who U-S-H-E-R-R-A-Y-M-O-N-D is and where he was at 7 o clock. Cosmopolitan reported that Usher acquired a stake in the Cavs in 2005, investing $9 million in the team, which Forbes said would have given him about a 1 percent stake. He is also an original co-owner of Tidal and this year’s Super bowl Halftime Performer.

9) Shelia Johnson, owner of the Washington Wizards

Shelia Johnson is the former co-founder of BET along with her ex-husband Bob Johnson. Today, Johnson is a very successful businesswoman, part owner of three sports teams (the Washington Mystics, Washington Wizards, and Washington Capitals), and the first Black woman to make it into the very exclusive, very white, and very male billionaire’s club, according to CBS News. She is also the author of the book, “Walk Through Fire: A Memoir of Love, Loss, and Triumph”,  which is the name of her impressive collection of five-star luxury resorts.

10 & 11) Will Smith and Jada P, owners of the Philadelphia 76ers

The Bleacher Report reported that “after years of promoting the city of Brotherly Love and its NBA team, actor/musician Will Smith and wife Jada now have a minority stake in the Philadelphia 76ers. Will Smith, one of the most powerful and influential actors in Hollywood, will now likely play the role that Nets owner Jay-Z is playing: promote the team and make it ‘cool’ to like the 76ers.” While the couple’s separation and relationship drama have been the main topics of conversation in the media, it’s great to know they’re able to co-own a team despite their differences.

Black Majority NBA Ownership