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Leslie Alexander (businessman)

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Leslie Alexander
Born
Leslie Lee Alexander

(1943-06-30)June 30, 1943(age 80)
New York City,U.S.[1]
EducationNew York University(BS)
Thomas Jefferson School of Law(JD)
Occupation(s)Businessman
Investor
Attorney
Known forFormer owner of theHouston Rockets
Political partyDemocratic
SpouseNanci Shnapier (divorced)
Children1

Leslie Lee Alexander[1](born June 30, 1943)[1]is an American attorney, businessman and financier. He is a former bond trader fromNew Jersey.He formerly owned theNational Basketball Association(NBA) teamHouston Rocketsfor 24 years, from 1993 to 2017.[2]

Early life

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He was born in 1943, to aJewish familyin New York City. In 1965, he graduated fromNew York Universitywith a bachelor's degree in economics. He dropped out ofBrooklyn Law Schoolafter the death of his father, when he began working to support his mother.[3]He later earned his juris doctor from the San Diego campus ofWestern State University College of Law,now known asThomas Jefferson School of Law.[4][5]

Career

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Alexander began his career as an attorney. From 1978 to 2009, he was a member of theCalifornia State Bar.[6]His first job was trading options and bonds for the Wall Street firm, Lawrence Kotkin Associates. In 1980, he left to form his own investment company, The Alexander Group. He also owns an 18.5% stake in First Marblehead, a private student loan company.[7]

In the July before the 1993-94 NBA season, Alexander bought theHouston Rocketsfor $85 million. The Rockets won theNBAchampionship the next two years: one in the'93-94 seasonand another in the'94-95 season.[8]In 2008, he was listed byForbesmagazine as the best owner in the NBA.[9]

In 1998, Alexander attempted to purchase and relocate theNational Hockey League'sEdmonton Oilersfranchise, but a grassroots bid by local businessmen successfully prevented the sale.[10]

From 1997 until early 2007, Alexander was the owner of theWNBA'sHouston Comets.The Comets won the league's first 4 WNBA championships from 1997 to 2000. He sold the team toHilton Kochin January 2007, one year before The Comets folded.[11]

Leslie Alexander launched a joint-venture with the Chinese businessmanKenneth Huang(founder of Sportscorp in China), which invests in many companies in Asia.[12]In 2006, a group of investors led by Kenneth Huang bought a minority share in the Rockets from Leslie Alexander.[13]

On July 17, 2017, it was announced that the Rockets were for sale.[14]On September 5, 2017, he reached an agreement to sell the Rockets to fellow Texas businessmanTilman Fertitta,pending league approval, for a worldwide professional sports record of $2.2 billion.[15]Before his departure, Alexander gave the Rockets' General Manager,Daryl Morey,a new contract and extended playerJames Harden's contract with a record-breaking $228 million, 4-year deal that will last until the end of the 2022-23 NBA season.[2][16]He also retained the twoLarry O'Brien Championship Trophieswon by the team in 1993–94 and 1994–95 as mementos of his ownership, and the team commissioned replica trophy replacements for the team upon its sale.[17]

Real estate

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He owns a vineyard onLong Islandand the related company Leslie Wine, launched in 2008. He also has a residence in Houston.[4]

In March 2019, he put up for sale a $3.7 million French manor-style house in Houston.[18]

Personal life

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Alexander divorced his wife Nanci (née Shnapier) in 2003, paying a $150 million settlement.[19]They have one child and two grandchildren.

Alexander was raisedJewishbut identifies asAgnostic.[20]He is a supporter of theDemocratic Partyand has donated $15,000 in the past 20 years to Democratic candidates.[21]He purchased the duplex penthouse of18 Gramercy Parkin 2012, reportedly for $42 million.[22]

Forbesestimated Alexander's net worth was approximately $1.9 billion in 2024, placing him at #1710 on the magazine's list of richest people in the United States.[3]

On March 27, 2017, Alexander pledged $10 million to 20 Houston charities, including the Houston Area Women's Center, Houston Public Library Foundation, Healthcare for the Homeless – Houston, and Citizens for Animal Protection.[23]He also pledged $10 million in relief efforts in wake ofHurricane Harvey,which ravaged the city in August 2017.[24]

Alexander is a supporter of theHampton Bayscenter which aims to rescue animals.[25][26]

In 1998, he and his now ex-wife, Nanci Shnapier, were recognized as the largest individual donors to thePeople for the Ethical Treatment of Animals(PETA).[27]He also supports a horse sanctuary inMiddleburg, Virginia.[3]

References

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  1. ^abcWho's Who, Marquis (December 2004).Who's Who In The South And Southwest 2005 (who's Who In The South & Southwest).Marquis Who's Who.ISBN9780837908359.
  2. ^abBlinebury, Fran."After 24 years, Houston Rockets owner Leslie Alexander selling team".NBA.com.RetrievedJuly 13,2018.
  3. ^abc"Leslie Alexander".Forbes.RetrievedApril 5,2024.
  4. ^abRockets: Leslie Alexander Biography,nba.com. Accessed June 4, 2024.
  5. ^Leslie L. AlexanderArchived2011-08-19 at theWayback Machine(Houston Comets)
  6. ^"Leslie Lee Alexander - #79581".State Bar of California.RetrievedJune 27,2011.
  7. ^Tamman, Mark Maremont, John Hechinger and Maurice (November 20, 2008)."Before the Bust, These CEOs Took Money Off the Table".Wall Street Journal.ISSN0099-9660.RetrievedSeptember 14,2020.{{cite news}}:CS1 maint: multiple names: authors list (link)
  8. ^NBA.com (February 2, 2018)."Former Houston Rockets owner Leslie Alexander kept title trophies after selling team | NBA.com".Around the League.RetrievedJuly 13,2018.
  9. ^Riper, Tom Van."The NBA's Best Owners".Forbes.RetrievedSeptember 14,2020.
  10. ^"Oilers Deal Collapses".Orlando Sentinel.November 5, 1997.
  11. ^WNBA disbands women's pro basketball team in Houston,Reuters.com. Accessed June 4, 2024.
  12. ^Tania Branigan,Kenneth Huang's rise from badminton ace to prospective Liverpool owner,Theguardian.com, August 2, 2010. Accessed April 21, 2019.
  13. ^David Barboza, Michael S. Schmidt,Cavaliers Sell a Stake to Chinese Investors,nytimes.com, May 25, 2009. Accessed April 21, 2019.
  14. ^"Houston Rockets are for sale, team president announces".July 17, 2017.
  15. ^"Source: Fertitta buys Rockets for record $2.2B".ESPN.com.RetrievedSeptember 5,2017.
  16. ^"James Harden agrees to extension worth $228 million, NBA's richest".USA TODAY.RetrievedJuly 13,2018.
  17. ^Feigen, Jonathan (September 20, 2018)."Rockets receive replicas of championship trophies".Houston Chronicle.RetrievedSeptember 21,2018.
  18. ^Jack Flemming,Former Rockets owner Leslie Alexander seeks $3.7 million for Houston home,Latimes.com, March 13, 2019. Accessed April 21, 2019.
  19. ^Service, Cox News (September 29, 2006)."Rockets owner's 2003 divorce ordered unsealed".Houston Chronicle.RetrievedSeptember 14,2020.
  20. ^"The 400 Richest Americans: #322 Leslie Alexander".Forbes.com.RetrievedMarch 30,2011.
  21. ^Christopher Reina,Real GM: "Follow The Money: Political Contributions Of NBA Owners",November 3, 2011.
  22. ^Velsey, Kim (October 22, 2012)."18 Gramercy Park Is Having the Best Fall Ever".The New York Observer.RetrievedOctober 21,2015.
  23. ^"Rockets' Leslie Alexander names charities that will receive parts of $10 million donation".Houston Chronicle.RetrievedAugust 29,2017.
  24. ^"Rockets owner reportedly ups aid as help grows".ESPN.com.RetrievedNovember 9,2017.
  25. ^Tim Gannon,Wildlife Rescue Center seeks expansion into Aquebogue,Timesreview.com, March 23, 2019. Accessed April 21, 2019.
  26. ^Hampton Bays Wildlife Center Looks To Expand To Aquebogue,27east.com, March 29, 2019. Accessed April 21, 2019.
  27. ^Meet the Animal Rights Movement's Rich Aunt,consumerfreedom.com, October 22, 2009. Accessed April 21, 2019.
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