Philip Anschutz
Philip Anschutz | |
|---|---|
| Born | December 28, 1939 Russell, Kansas, U.S. |
| Occupation(s) | Entrepreneur, investor |
| Known for | Founder of Major League Soccer; owner of multiple sports teams and entertainment venues; extensive investments in energy, railroads, real estate, sports, media, travel, entertainment, and music sectors |
| Notable work | Founder of Major League Soccer; owner of Los Angeles Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes, New York/New Jersey MetroStars; majority owner of NHL's Los Angeles Kings; former minority owner of NBA's Los Angeles Lakers; owner of Anschutz Entertainment Group (AEG) |
Philip Frederick Anschutz (born December 28, 1939) is an American billionaire entrepreneur with extensive investments spanning energy, railroads, real estate, sports, media, travel, entertainment, and music sectors. In 2004, he purchased the parent organization of the Journal Newspapers and transformed it into the conservative-leaning publication Washington Examiner. Anschutz is the son of oil magnate Fred Anschutz.
He assumed control of his father’s oil drilling company, Circle A Drilling, in 1961, achieving substantial profits in Wyoming. Anschutz then diversified into equities, property development, and railroads before venturing into the sports and entertainment industries. As a co-founder of Major League Soccer, he owns several teams including the Los Angeles Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes, and New York/New Jersey MetroStars. He is the majority owner of the NHL’s Los Angeles Kings and maintained a minority interest in the NBA’s Los Angeles Lakers until 2021. His holdings extend to venues such as Crypto.com Arena, The O2 Arena, and Dignity Health Sports Park. Through Walden Media, he has financed films like The Chronicles of Narnia, Ray, and Joshua. Via AEG Live, Anschutz owns events and properties including the Coachella Valley Music and Arts Festival, Sea Island Resorts, and The Broadmoor hotel. The medical campus at the University of Colorado bears his name as CU Anschutz.
As reported by Forbes in May 2025, he ranks as the world’s 130th wealthiest individual with an estimated net worth of $16.9 billion.
Early life
Philip Anschutz was born on December 28, 1939, in Russell, Kansas, to Marian (née Pfister) and Frederick Benjamin Anschutz. His father was a prominent oil businessman and land investor with operations in Colorado, Utah, and Wyoming. His grandfather, Carl Anschutz, was a German-Russian immigrant who established Farmers State Bank in Russell. Growing up primarily in Russell alongside peers such as Bob Dole, Anschutz also spent time living in Wichita and Hays, Kansas. He later became a supporter of Dole’s political efforts.
He completed his secondary education at Wichita East High School in 1957 and earned a bachelor's degree in business from the University of Kansas in 1961, where he was affiliated with the Sigma Chi fraternity.
Land ownership
In 1970, Anschutz purchased Baughman Farms near Liberal, Kansas—a vast property covering 250,000 acres—for $10 million. The next year, he acquired approximately 9 million acres straddling the Utah-Wyoming border, marking his initial accumulation of wealth through oil ventures. During the early 1980s, his ranch contained an oil reserve estimated at one billion barrels—the largest discovery on U.S. soil since Prudhoe Bay in 1968. In 1982, he sold a stake to Mobil for $500 million.
Through strategic acquisitions across Western states, Anschutz became Colorado’s only billionaire and ranked among the top 100 landowners nationwide.
Subsequently, he broadened his interests into railroads and telecommunications before expanding into entertainment. In 1999, Fortune magazine likened him to J.P. Morgan due to his influential presence across multiple industries and significant economic contributions.
Rail and petroleum ventures
Anschutz ventured into the railroad industry in 1984 by acquiring Rio Grande Industries, which later took over Southern Pacific in 1988. After Southern Pacific merged with Union Pacific in 1996, Anschutz assumed the role of vice-chairman at Union Pacific. His tenure included serving as a director of Southern Pacific from 1988 to 1996 and as non-executive chairman between 1993 and 1996. Additionally, he held board positions at Forest Oil Corporation starting in 1995, chaired Qwest beginning in 1993 before stepping down as co-chairman in 2002, and was involved with Pacific Energy Partners. Anschutz also contributed to the American Petroleum Institute and National Petroleum Council as a board member.
In 2001, despite resistance from Native American groups and conservation advocates, the Bush administration affirmed Anschutz’s drilling rights for an exploratory well in Montana. By 2002, Anschutz Exploration Corporation ceased its drilling efforts and transferred the leases to the National Trust for Historic Preservation, which agreed to let them lapse. For these preservation actions, the Trust honored Anschutz Exploration with its President's Award.
In 2003, New York Attorney General Eliot Spitzer resolved a civil complaint alleging Anschutz’s involvement in IPO share spinning connected to Qwest’s investment banking activities. Although Anschutz denied any misconduct, he contributed $4.4 million to charities of his choosing, leading Spitzer to drop the case. Investigations by both the SEC and the Department of Justice concluded there was no basis for legal action against Anschutz or members of Qwest’s board.
By 2006, Anschutz stepped down from his roles on the boards of Qwest, Union Pacific, and Regal Entertainment Group to concentrate on other ventures.
On June 24, 2008, Anschutz acquired Xanterra Parks and Resorts, which had owned the Grand Canyon Railway since 2007. In 2011, he expanded his holdings by purchasing Oklahoma Publishing Company along with assets such as The Broadmoor hotel and the Manitou and Pike's Peak Railway located in Colorado Springs and Manitou Springs.
Effective August 1, 2010, Xanterra further broadened its hospitality portfolio by acquiring Kingsmill Resort from Busch Properties.
Anschutz Entertainment Group
The Anschutz Entertainment Group (AEG), a subsidiary under The Anschutz Corporation umbrella, stands as the largest global proprietor of sports franchises, events, and venues. It also manages entertainment facilities and operates AEG Live, which ranks as the world’s second-largest promoter of live music events after Live Nation. Notably, AEG Live owns the renowned Coachella Valley Music and Arts Festival.
On September 18, 2012, Anschutz revealed intentions to sell AEG; however, after rejecting all offers, he withdrew the company from sale on March 14, 2013.
Sports
In the year 2012, SportsBusiness Journal placed Anschutz fifth among the most influential figures within the sports business sector.
Soccer
Anschutz is among four honorees awarded the National Soccer Hall of Fame's Medal of Honor for his contributions to advancing soccer in America. In 2006, SportsBusiness Journal recognized him as the leading influencer in U.S. soccer. As a founding figure of Major League Soccer (MLS), Anschutz owned several teams including Los Angeles Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes, D.C. United, and New York/New Jersey MetroStars. He also maintains an interest in Dignity Health Sports Park—the home stadium for LA Galaxy and previously Chivas USA.
During MLS’s formative challenges, Anschutz simultaneously owned six franchises and absorbed considerable financial losses, earning acclaim as the savior of MLS. Commissioner Don Garber remarked in 2006 that "without Phil Anschutz, there's no MLS today."
| MLS Teams Owned | |||
|---|---|---|---|
| Team | Years | MLS Cups | Fate |
| Colorado Rapids | 1996–2003 | 1 loss (1997) | sold to Kroenke Sports & Entertainment |
| LA Galaxy | 1996–present | 6 wins (2002, 2005, 2011*, 2012*, 2014, 2024), 4 losses (1996, 1999, 2001, 2009) | still owned by Anschutz |
| Chicago Fire | 1998–2007 | 1 win (1998), 2 losses (2000, 2003*) | sold to Andell Holdings |
| D.C. United | 2001–2007 | 1 win (2004) | sold to D.C. United Holdings |
| New York/New Jersey MetroStars | 2001–2006 | none | sold to Red Bull GmbH |
| San Jose Earthquakes/Houston Dynamo | 2002–2015 | 3 wins (2003*, 2006, 2007), 2 losses (2011*, 2012*) | relocated after 2005 season; sold to Brener International Group |
| * indicates years when two Anschutz-owned teams met in the MLS Cup | |||
Anschutz played a pivotal role in shaping MLS’s growth by advocating for soccer-specific stadium construction to enhance revenue streams and manage expenses effectively. He was also instrumental in establishing Soccer United Marketing—the league’s dedicated sales and marketing entity. Since then, he has divested ownership stakes in all MLS teams except for LA Galaxy.
Additional Sports Interests
Anschutz serves as the primary owner of the Los Angeles Kings and previously held a minority stake in the Los Angeles Lakers until divesting his shares to Todd Boehly and Mark Walter in 2021. Via ASM Global (previously known as AEG), he maintains ownership interests in prominent arenas such as Crypto.com Arena and London's O2 Arena.
Diverse Business Holdings
His business holdings extend to Forest Oil, Pacific Energy Group, and a 6% ownership in Union Pacific, positioning him as the largest shareholder. Anschutz oversees the Regal Entertainment Group, recognized as the world's second-largest cinema chain with approximately 7,000 screens, controlling over half of the company. His media assets include Denver-based Clarity Media Group, which manages newspapers like Oklahoma’s largest daily, The Oklahoman; formerly The San Francisco Examiner (2004–2011); The Washington Examiner; and The Gazette, Colorado’s second-largest daily with a circulation of 74,172. He holds trademarks for "Examiner" across more than 60 cities.
In December 2018, after failing to secure a buyer, Anschutz ceased publication of The Weekly Standard, offering subscribers either refunds or subscriptions to the Washington Examiner.
His investments also encompass Oil & Gas Asset Clearinghouse and NRC Broadcasting, which operates multiple radio stations in Colorado. In 2008, Anschutz Investment Company acquired LightEdge Solutions, a business-to-business provider specializing in networking services, VoIP, hosted Microsoft applications, and business continuity solutions.
By 2011, Anschutz announced intentions to independently acquire all assets of the Oklahoma Publishing Company (OPUBCO). In 2012, he showed interest in acquiring Rangers. Additionally, he invested in Power Company of Wyoming LLC, formed to develop the Chokecherry and Sierra Madre Wind Energy Project, a wind farm project featuring up to 1,000 turbines with a capacity of 3,000 megawatts over 229,077 acres in Carbon County, Wyoming. The Bureau of Land Management has identified this as the largest proposed commercial wind generation facility within the United States. Construction is underway with an anticipated expenditure of $5 billion.
Engagement in Political and Social Causes
Anschutz has been a supporter of the Parents Television Council, an organization opposing television content considered inappropriate. Through his film production entities and ownership of Regal, Edwards, and United Artists theater chains, he has funded and distributed Christian-themed movies to wide audiences, including titles like Amazing Grace and The Chronicles of Narnia: The Lion, the Witch and the Wardrobe. He also provided financial backing for The Foundation for a Better Life. In 2009, Anschutz acquired the conservative publication The Weekly Standard from Rupert Murdoch's News Corporation. A year later, he financed the pro-charter school documentary Waiting for Superman.
Through his Anschutz Foundation, he has supported conservative policy organizations such as the American Enterprise Institute, the Federalist Society, and the Heritage Foundation. During the 2016 U.S. election cycle, Anschutz contributed $1 million to conservative causes and provided $200,000 to Republican candidates and political action committees in 2017.
In 2006, Anschutz’s attorney recommended Neil Gorsuch for a judicial vacancy on the United States Court of Appeals for the Tenth Circuit, thereby influencing federal judicial appointments. Following the Supreme Court’s decision in Dobbs v. Jackson Women's Health Organization, Anschutz Corporation clarified that Philip F. Anschutz personally supports a woman’s right to choose and did not endorse overturning Roe v. Wade.
Philanthropy
Anschutz is deeply engaged in philanthropic efforts and serves as the head of the Anschutz Foundation. By October 2019, Forbes listed him as the 41st wealthiest individual in the United States, with an estimated net worth of $11.5 billion.
Together with his wife, Anschutz has contributed more than $100 million to the University of Colorado School of Medicine located in Aurora, Colorado. This campus now bears the Anschutz name. Their donations supported the development of advanced medical research facilities and the construction of a University Hospital on grounds that were once part of the Fitzsimons Army Medical Center. Additionally, they have been benefactors to their alma mater, the University of Kansas, which honors them with an Anschutz Library and Sports Pavilion. The couple was honored with the William E. Simon Prize for Philanthropic Leadership in 2009.
In 2018, Anschutz made a $1 million gift to the Elton John AIDS Foundation.
Personal life
Anschutz identifies as a conservative Christian and is a member of the Evangelical Presbyterian Church. He met his wife Nancy at age 16, and together they have three children. His business accomplishments earned him induction into the Kansas Business Hall of Fame in 2000 and subsequently into the U.S. Business Hall of Fame in 2002.
Known for valuing his privacy, Anschutz has participated in only three formal interviews since 1979, with a notable gap from the 1980s until 2015. He ended this period of silence during Major League Soccer’s 20th anniversary events in December 2015.
He has completed fifteen marathons over time. His first cousin was Wendall Anschutz, who was a well-known news anchor based in Russell, Kansas.
Awards and honors
- 1985 – Golden Plate Award from the American Academy of Achievement
- 2000 – Induction into the Kansas Business Hall of Fame
- 2017 – Named "Kansan of the Year" by Native Sons and Daughters of Kansas
Books
- Out Where the West Begins: Creating & Civilizing the American West, Cloud Camp Press, 2017
External links
- "The Man Behind the Curtain", Forbes, November 8, 2010
- "Philip Anschutz, Chairman and CEO, The Anschutz Corporation, Denver, CO", The Horatio Alger Association of Distinguished Americans
- Bruck, Connie, "The Man Who Owns LA", The New Yorker, January 16, 2012
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- American business executives
- American investors
- 1939 births
- Living people
- Anschutz Corporation
- American billionaires
- American energy industry businesspeople
- American entertainment industry businesspeople
- American newspaper publishers (people)
- American philanthropists
- American Presbyterians
- American people of German-Russian descent
- American railway entrepreneurs
- American businesspeople in real estate
- American soccer chairmen and investors
- Chairmen and investors of soccer clubs in the United States
- American stock traders
- Chicago Fire FC
- Colorado Rapids owners
- Colorado Republicans
- Houston Dynamo FC
- Los Angeles Kings owners
- Major League Soccer executives
- New York Red Bulls
- National Soccer Hall of Fame members
- People from Russell, Kansas
- San Francisco Examiner people
- San Jose Earthquakes
- Southern Pacific Railroad people
- University of Kansas alumni
- Women's National Basketball Association executives
- American railroaders
- Stanley Cup champions
- Businesspeople from Wichita, Kansas
- People from Hays, Kansas
- Kansas Business Hall of Fame inductees