Billionaire owns £500m mega-ranch bigger than New York, LA combined

Billionaire owns £500m mega-ranch bigger than New York, LA combined

- Stan Kroenke owns a ranch worth £500m

- The 72-year-old and his wife Ann purchased the 535 000 acres estate which can swallow New York and Los Angeles in 2016

- Apart from Arsenal, the American billionaire also owns several sports outfits as well as other properties

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American billionaire Stan Kroenke has been valued at staggering $10 billion with tons of property portfolio to match.

The 72-year-old sports businessman and his wife Ann Walton acquired the largest ranch in the United States - big enough to swallow New York and Los Angeles combined in 2016.

Kroenke paid a whopping £500 million to purchase the 535 000 acres estate from W.T Waggoner four years back.

The news of the deal enraged the Gunners fans when they heard about it especially when they needed to buy players but the club refused to release funds enough to sign quality stars.

According to SunSport, the ranch includes thousands of cattle, hundreds of horses and oil wells, and 30 000 acres of farmland.

Apart from the north London club, Kroenke Sports and Entertainment company also owns NBA franchise Denver Nuggets and others including NFL side LA Rams, NHL franchise Colorado Avalanche and MLS side Colorado Rapids.

The publication further reveals that the billionaire has commenced the construction of a 70 000 seat SoFI Stadium in Inglewood, California - home to the Rams and fellow NFL side LA Chargers.

His statement after acquiring the property in 2016 reads: "This is an incredible opportunity and an even greater responsibility.

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“We are honoured to assume ownership of the Waggoner – a true Texas and American landmark – and are deeply committed to continuing the proud legacy of W.T. “Tom” Waggoner, his family and his descendants."
Our gratitude to them and to the many parties involved in this process is immense. We will continue to preserve and protect this uniquely American treasure.”

Meanwhile, Arsenal fans are not happy with the 72-year-old after accusing him of using the club as an investment vehicle.

Kroenke's wealth came under heavy scrutiny once more following Mesut Ozil's refusal to take a pay cut amid the coronavirus crisis.

It was about the same time that his fortune had risen by £323m in the opening months of 2020 after some of the squad had agreed to pay reduction.

There are suggestions that the billionaire is planning to pump money into his Premier League team and help them ease the financial impact of COVID-19 on the club.

Kroenke bought 124,000-acre Broken O Ranch in Montana in 2012, and also owns ranches in Wyoming, Arizona, and British Columbia.

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Source: Briefly.co.za

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