Leslie Alexander (businessman)

Leslie Lee Alexander[1] (born June 30, 1943)[1] is an American attorney, businessman and financier. He is a former bond trader from New Jersey. He formerly owned the National Basketball Association (NBA) team Houston Rockets for 24 years, from 1993 to 2017.[3]

Leslie Alexander
Born
Leslie Lee Alexander

(1943-06-30) June 30, 1943
New York City, New York, U.S.[1]
EducationNew York University (BS)
Thomas Jefferson School of Law (JD)
OccupationBusinessman
Investor
Attorney
Known forFormer owner of the Houston Rockets
Net worth$2.1 billion (November 2018)[2]
Political partyDemocratic
Spouse(s)Nanci Shnapier Alexander (divorced)
Children1

Early life

He was born in 1943, to a Jewish family in New York City. In 1965, he graduated from New York University with a bachelor's degree in economics and later earned his juris doctor from the San Diego campus of Western State University College of Law, now known as Thomas Jefferson School of Law.[4][5]

Career

Alexander began his career as an attorney. From 1978 to 2009, he was a member of the California 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 the Houston Rockets for $85 million. The Rockets won the NBA championship the next two years: one in the '93-94 season and another in the '94-95 season.[8] In 2008, he was listed by Forbes magazine as the best owner in the NBA.[9]

In 1998, Alexander attempted to purchase and relocate the National Hockey League's Edmonton Oilers franchise, but a grassroots bid by local businessmen successfully prevented the sale.[10]

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

Leslie Alexander launched a joint-venture with the Chinese businessman Kenneth 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 businessman Tilman 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 player James Harden's contract with a record-breaking $228 million, 4-year deal that will last until the end of the 2022-23 NBA season.[3][16] He also retained the two Larry O'Brien Championship Trophies won 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

He owns a vineyard on Long Island and 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

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

Alexander was raised Jewish, and now identifies as Agnostic.[20] He is a vegetarian and an advocate of animal rights. He is a supporter of the Democratic Party and has donated $15,000 in the past 20 years to Democratic candidates.[21] He purchased the duplex penthouse of 18 Gramercy Park in 2012, reportedly for $42 million.[22]

Alexander's net worth is an estimated $1.54 billion as of Q1-2016, placing him at #401 on the list of richest people in the United States.[23]

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.[24] He also pledged $10 million in relief efforts in wake of Hurricane Harvey, which ravaged the city in August 2017.[25]

Alexander is also a supporter of the Hampton Bays center which aims to rescue animals.[26][27] In 1998, his ex-wife and himself were recognized the largest individual donors to the People for the Ethical Treatment of Animals (PETA).[28]

References
  1. Who'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. ISBN 9780837908359.
  2. "Leslie Alexander". Retrieved 2020-09-14.
  3. Blinebury, Fran. "After 24 years, Houston Rockets owner Leslie Alexander selling team". NBA.com. Retrieved 2018-07-13.
  4. Rockets: Leslie Alexander Biography
  5. Leslie L. Alexander Archived 2011-08-19 at the Wayback Machine (Houston Comets)
  6. "Leslie Lee Alexander - #79581". State Bar of California. Retrieved June 27, 2011.
  7. Tamman, Mark Maremont, John Hechinger and Maurice (2008-11-20). "Before the Bust, These CEOs Took Money Off the Table". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-09-14.
  8. NBA.com (Feb 2, 2018). "Former Houston Rockets owner Leslie Alexander kept title trophies after selling team | NBA.com". Around the League. Retrieved 2018-07-13.
  9. Riper, Tom Van. "The NBA's Best Owners". Forbes. Retrieved 2020-09-14.
  10. "Oilers Deal Collapses". Orlando Sentinel. November 5, 1997.
  11. WNBA disbands women's pro basketball team in Houston | Reuters
  12. Tania Branigan, Kenneth Huang's rise from badminton ace to prospective Liverpool owner, Theguardian.com, 2 August 2010 (accessed 21 April 2019)
  13. David Barboza, Michael S. Schmidt, Cavaliers Sell a Stake to Chinese Investors, Nytimes.com, 25 May 2009 (accessed 21 April 2019)
  15. "Source: Fertitta buys Rockets for record $2.2B". ESPN.com. Retrieved 2017-09-05.
  16. "James Harden agrees to extension worth $228 million, NBA's richest". USA TODAY. Retrieved 2018-07-13.
  17. Feigen, Jonathan (20 September 2018). "Rockets receive replicas of championship trophies". Houston Chronicle. Retrieved 21 September 2018.
  18. Jack Flemming, Former Rockets owner Leslie Alexander seeks $3.7 million for Houston home, Latimes.com, 13 March 2019 (accessed 21 April 2019)
  19. Service, Cox News (2006-09-29). "Rockets owner's 2003 divorce ordered unsealed". Houston Chronicle. Retrieved 2020-09-14.
  20. "The 400 Richest Americans: #322 Leslie Alexander". Forbes.com. Retrieved March 30, 2011.
  21. Real GM: "Follow The Money: Political Contributions Of NBA Owners" By Christopher Reina November 03, 2011
  22. Velsey, Kim (October 22, 2012). "18 Gramercy Park Is Having the Best Fall Ever". The New York Observer. Retrieved October 21, 2015.
  23. "Leslie Alexander". Forbes. Retrieved 2016-03-02.
  24. "Rockets' Leslie Alexander names charities that will receive parts of $10 million donation". Houston Chronicle. Retrieved 2017-08-29.
  25. "Rockets owner reportedly ups aid as help grows". ESPN.com. Retrieved 2017-11-09.
  26. Tim Gannon , Wildlife Rescue Center seeks expansion into Aquebogue, Timesreview.com, 23 March 2019 (accessed 21 April 2019)
  27. Hampton Bays Wildlife Center Looks To Expand To Aquebogue, 27east.com, 29 March 2019 (accessed 21 April 2019)
  28. Meet the Animal Rights Movement’s Rich Aunt, Consumerfreedom.com, 22 October 2009 (accessed 21 April 2019)
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