Patriots owner Bob Kraft was just charged with soliciting prostitution. Here's how he made his $4.3 billion fortune, from working at his father-in-law's packaging company to buying the NFL team for $172 million

Katie WarrenFeb 23, 2019, 00:53 IST

Brad Penner/AP

Robert Kraft, the billionaire owner of the New England Patriots who was just charged with soliciting prostitution, is worth at least $4.36 billion.
He made his fortune in paper manufacturing as the owner of paper companies Rand-Whitney, International Forest Products, and half of New-Indy.
The 77-year-old billionaire bought the Patriots for $172 million in 1994, a team now valued at $3.5 billion.

Robert Kraft, the billionaire owner of the New England Patriots, was charged with two counts of soliciting prostitution on Friday.

Kraft, who owns two-and-a-half paper companies, a shopping mall and office park, and a soccer team in addition to the NFL team, is worth at least $4.36 billion, although another estimate puts his net worth at $6.6 billion.

Here's a look at the wealth, career, and life of the Patriots owner.

See Patriots owner Bob Kraft was just charged with soliciting prostitution. Here's how he made his $4.3 billion fortune, from working at his father-in-law's packaging company to buying the NFL team for $172 million >>

Robert Kraft, the billionaire owner of NFL team the New England Patriots, is worth an estimated $4.36 billion, according to Bloomberg. Forbes, however, estimates a higher net worth of $6.6 billion.

Source: Bloomberg, Forbes

The Patriots owner was charged with two counts of soliciting prostitution on February 22, 2019.

Source: Business Insider

Kraft made his fortune in paper manufacturing.

Source: Forbes via Business Insider

The son of a textile worker and synagogue leader, Kraft attended Columbia University and later Harvard Business School.

Source: Bloomberg

It was during his time at Harvard that Kraft started going to Patriots games, then the Boston Patriots of the American Football League.

Source: Bloomberg

In 1963, Kraft married Myra Hiatt, who he had met in a deli in Boston.

Source: Bloomberg

After graduating from Harvard, Kraft got a job at Rand-Whitney Group, a packaging company owned by his wife's father. Three years later, he acquired a majority stake in the company. Kraft went on to expand in the paper and packaging industries, starting International Paper Products in 1972.

Source: Bloomberg

Before buying the Patriots in 1994, Kraft was a 23-year season ticket holder. He bought the team's Sullivan Stadium in Foxboro, Massachusetts out of bankruptcy court, in 1988.

Source: Patriots.com via Business Insider

Six years later, he bought the Patriots for $172 million, a then-record.

Source: Bloomberg

Kraft was reportedly offered a lucrative buyout to allow the Patriots to terminate their lease with their stadium and move out of New England, but he refused and opted to to buy the team instead.

Source: Patriots.com via Business Insider

Under Kraft's ownership, the Patriots have gone on to win six Super Bowls since 2001.

Source: Business Insider

The team is one of the most valuable in the NFL, valued at an estimated $3.5 billion.

Source: Bloomberg

In 2011, Myra, Kraft's wife of nearly 50 nears, died of ovarian cancer.

Source: Business Insider, Bloomberg

The couple shared four sons: Jonathan, Daniel, Joshua, and David, three of whom are heavily involved in Kraft's business.

Source: The Kraft Group via Business Insider

In 2012, Kraft started dating actress Ricki Noel Lander.

Source: Business Insider

The pair is frequently seen together at sporting events such as Celtics games and the U.S. Open.

In 2017, Lander gave birth to a daughter, of which Kraft has said he is not the biological father. He did, however, reportedly buy Lander a mansion in L.A. and is invested in the upbringing of the child.

Source: Sporting News via Business Insider

Kraft donated to Barack Obama's re-election campaign.

He has also praised Donald Trump in public interviews and described the president as a "close friend."

Source: Boston.com

In 2005, Kraft reportedly "accidentally" gave a Super Bowl ring to Russian President Vladimir Putin while on a business trip to Russia. Kraft said he showed his 2004 Super Bowl ring to Putin, who apparently tried it on and never gave it back.

Source: Business Insider

In addition to his ownership of the Patriots, Kraft owns the New England Revolution soccer team, one of the 10 original MLS clubs.

Source: Business Insider

He's still very involved in the paper business as owner of paper companies Rand-Whitney, International Forest Products, and half of New-Indy.

Source: Bloomberg

Kraft lives in Brookline, Massachusetts, about six miles from Boston.

Source: Bloomberg, Google Maps

He's active on the boards of the Dana-Farber Cancer Institute, Boston College and the Massachusetts Competitive Partnership.

Source: Bloomberg

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Patriots owner Bob Kraft was just charged with soliciting prostitution. Here's how he made his $4.3 billion fortune, from working at his father-in-law's packaging company to buying the NFL team for $172 million

Robert Kraft, the billionaire owner of NFL team the New England Patriots, is worth an estimated $4.36 billion, according to Bloomberg. Forbes, however, estimates a higher net worth of $6.6 billion.

The Patriots owner was charged with two counts of soliciting prostitution on February 22, 2019.

Kraft made his fortune in paper manufacturing.

The son of a textile worker and synagogue leader, Kraft attended Columbia University and later Harvard Business School.

It was during his time at Harvard that Kraft started going to Patriots games, then the Boston Patriots of the American Football League.

In 1963, Kraft married Myra Hiatt, who he had met in a deli in Boston.

After graduating from Harvard, Kraft got a job at Rand-Whitney Group, a packaging company owned by his wife's father. Three years later, he acquired a majority stake in the company. Kraft went on to expand in the paper and packaging industries, starting International Paper Products in 1972.

Before buying the Patriots in 1994, Kraft was a 23-year season ticket holder. He bought the team's Sullivan Stadium in Foxboro, Massachusetts out of bankruptcy court, in 1988.

Six years later, he bought the Patriots for $172 million, a then-record.

Kraft was reportedly offered a lucrative buyout to allow the Patriots to terminate their lease with their stadium and move out of New England, but he refused and opted to to buy the team instead.

Under Kraft's ownership, the Patriots have gone on to win six Super Bowls since 2001.

The team is one of the most valuable in the NFL, valued at an estimated $3.5 billion.

In 2011, Myra, Kraft's wife of nearly 50 nears, died of ovarian cancer.

The couple shared four sons: Jonathan, Daniel, Joshua, and David, three of whom are heavily involved in Kraft's business.

In 2012, Kraft started dating actress Ricki Noel Lander.

The pair is frequently seen together at sporting events such as Celtics games and the U.S. Open.

In 2017, Lander gave birth to a daughter, of which Kraft has said he is not the biological father. He did, however, reportedly buy Lander a mansion in L.A. and is invested in the upbringing of the child.

Kraft donated to Barack Obama's re-election campaign.

He has also praised Donald Trump in public interviews and described the president as a "close friend."

In 2005, Kraft reportedly "accidentally" gave a Super Bowl ring to Russian President Vladimir Putin while on a business trip to Russia. Kraft said he showed his 2004 Super Bowl ring to Putin, who apparently tried it on and never gave it back.

In addition to his ownership of the Patriots, Kraft owns the New England Revolution soccer team, one of the 10 original MLS clubs.

He's still very involved in the paper business as owner of paper companies Rand-Whitney, International Forest Products, and half of New-Indy.

Kraft lives in Brookline, Massachusetts, about six miles from Boston.

He's active on the boards of the Dana-Farber Cancer Institute, Boston College and the Massachusetts Competitive Partnership.