Meet Herb Simon, the billionaire owner of the Indiana Pacers: What is his net worth?

After nearly 50 years in the NBA, the Indiana Pacers have a chance at a first NBA championship in team history.

The Pacers’ three historic championships - in 1970, 1972 and 1973 - all came in the ABA, and they were beaten NBA finalists in 2000. Since 1983 the team has been owned by Herbert Simon, who bought the Pacers with brother Mel.

Mel died in 2009, leaving Herb Simon, now aged 90, as the team’s majority owner.

Herb made his money in real estate development and is now the chairman emeritus of the shopping mall developer, Simon Property Group. The group is now one of the world’s largest real estate investment trusts and boasts an astonishing 215 properties around the world.

His highly lucrative career in real estate has allowed him to build up an incredible personal wealth, currently valued by Forbes at $5 billion.

Much of that comes from his shrewd purchase of the Pacers in the early 1980s. The team is now thought to be worth around $3 billion and Herb Simon owns an 80% stake.

Although the Pacers have struggled for success through that time, Simon has tried to build sustainably in Indiana and they are now just three wins away from a first-ever NBA championship. During a 2021 interview, Simon said that his top skill in management was delegating.

“I’ve always felt as a non-basketball person — theoretically, I mean I love basketball but technique or the details are not in my style — that’s why you hire professionals,” Simon explained. “Even in my other businesses, you hire professionals. You hire attorneys, you hire architects, people who know what they’re doing and why interfere with them?”

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