Chris Cohan's Net Worth and Business Ventures
Chris Cohan is an American businessman with a net worth of $350 million USD. He is best known as the former owner of the NBA's Golden State Warriors.
Founding Sonic Communications
In 1977, Chris Cohan founded Sonic Communications, a company that would eventually become one of the largest independent cable outlets in the United States. His commercial success led him to sell the company in 1998.
Ownership of the Golden State Warriors
In 1994, Cohan acquired majority control of the Golden State Warriors by paying $130 million. Under his ownership, he invested in renovating what is now known as the Oracle Arena. Despite these efforts, the team saw limited success, tallying only two winning seasons and making the playoffs just once during his tenure.
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Controversies and Legal Issues
In 2007, Cohan faced charges of $160 million in tax evasion related to the sale of Sonic Communications. This controversy significantly impacted his reputation, and by 2009, he was ranked as the 4th worst NBA owner by Sports Illustrated.
Selling the Golden State Warriors
In July 2010, Cohan sold the Warriors to a group of investors led by Peter Guber and Joe Lacob for a record-breaking $450 million. A decade later, the Warriors had won multiple NBA Championships and were valued at $6 billion.
