Peter Angelos, the majority owner of the Baltimore Orioles, has built an impressive fortune throughout his career.
Known not only for his legal expertise but also his savvy business investments, Peter Angelos net worth reflects his diverse sources of income.
This article will delve into his wealth, salary, financial achievements, and career milestones.
We’ll explore the key elements that contributed to Peter Angelos’ financial journey, from his legal victories to his investments in sports and racehorse breeding.
Let’s take a closer look at what makes Peter Angelos’ wealth so notable.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Peter Angelos |
| Popular Name | Peter Angelos |
| Gender | Male |
| Birth Date | July 4, 1929 |
| Age | 94 (Died: March 23, 2024) |
| Parents | Michael Angelos (Father), Georgia Angelos (Mother) |
| Siblings | N/A |
| Birthplace | Baltimore, Maryland, U.S. |
| Nationality | American |
| Ethnicity | Greek descent |
| Education | University of Baltimore School of Law, The University of Baltimore, Patterson High School |
| Marital Status | Married |
| Spouse | Lois Angelos |
| Children | 2 (Thomas Angelos, John Angelos) |
| Dating | N/A |
| Net Worth | Estimated at $2 billion (2024) |
| Source of Wealth | Law, Baltimore Orioles, Racehorse Breeding |
| Height | N/A |
What is the Net Worth of Peter Angelos in 2024?
Peter Angelos’ net worth in 2024 is estimated to be around $2 billion. His wealth primarily stems from his ownership of the Baltimore Orioles, a well-known Major League Baseball team.
He also earned substantial amounts through his successful law career, notably his role in the Maryland tobacco lawsuit.
Additionally, his investments in racehorses and his law firm contributed significantly to his wealth.
Compared to other notable figures in sports and law, Angelos’ fortune stands out among peers like:
- John Angelos
- Thomas Angelos
- Lois Angelos
- Peter Angelos
- Steve Cohen
- Jeffrey Lurie
- Bruce Sherman
- Dan Snyder
- David Tepper
- Terry Pegula
You can learn more about the richest figures in law at our article on the wealthiest lawyers.
Peter Angelos Wealth, Salary, and Finance Overview
Key Contributions to His Wealth and Income
Peter Angelos‘ wealth was shaped by a combination of legal success and smart business investments.
His first significant financial breakthrough came with his role as a trial lawyer, founding the Law Office of Peter Angelos in 1961.
The firm became well-known for handling high-profile cases, particularly in tobacco litigation. Angelos played a key role in representing Maryland in a multi-billion-dollar lawsuit against tobacco companies in the 1990s, a victory that significantly contributed to his financial standing.
The major catalyst for his wealth, however, was his acquisition of the Baltimore Orioles in 1993. The team became a major source of income, benefiting from Angelos’ leadership and decision-making.
While he initially faced challenges in ownership, over time the Orioles became one of the most valuable MLB teams under his stewardship, adding considerable value to Angelos’ fortune.
Achievements and Awards Contributing to His Financial Success
Throughout his career, Peter Angelos has received numerous accolades that have further cemented his place in the public eye.
In 1996, he received the Ellis Island Medal of Honor, recognizing his contributions to American society and his advocacy for Greek-American heritage.
This recognition not only boosted his reputation but also helped raise his profile, indirectly benefiting his business ventures.
Additionally, his recognition as Marylander of the Year in 1988 highlighted his significant community and legal work, opening up new avenues for business.
These achievements undoubtedly enhanced his financial reputation, making him a highly respected figure in both the legal and sports communities.
Career Highlights That Helped Shape His Wealth
Peter Angelos’ career as a lawyer and businessman has been marked by several key milestones.
After establishing his law firm, he continued to win cases that brought in substantial revenue. His role in the tobacco lawsuit was a particularly notable chapter in his career.
In 1996, when Maryland sued tobacco companies, Angelos’ firm earned a substantial settlement, which translated into further financial success for him personally.
In 1993, Angelos took on the Baltimore Orioles. His decision to purchase the team for $173 million has since paid off, as the Orioles’ value has skyrocketed under his ownership.
As a sports team owner, Angelos’ involvement with the Orioles has been both financially and personally rewarding.
Salary, Earnings, and Income from Key Sources
While the exact figures regarding his annual salary are not publicly available, it is clear that Peter Angelos earned significant income from his legal practice, sports ownership, and racehorse business.
As the principal owner of the Baltimore Orioles, he receives a portion of the team’s profits, which have grown over time.
Additionally, his income from legal settlements and racehorse breeding further bolstered his wealth.
Angelos’ financial dealings are not limited to his salary alone.
His racehorse breeding business, which has involved purchasing and breeding some of the finest horses in the world, continues to contribute to his wealth.
This venture, like his other investments, has played a key role in building his financial empire.
Family and Personal Life’s Influence on His Wealth
Peter Angelos’ family has played an important role in his wealth-building efforts.
His sons, John Angelos and Thomas Angelos, have become increasingly involved in managing the Orioles, signaling a multi-generational transfer of wealth and responsibility.
The family’s involvement in the team and other ventures will likely continue to influence their collective fortunes.
His wife, Lois Angelos, has been a supportive partner throughout his career. Although less publicly involved, her presence has provided stability, allowing Angelos to focus on his business ventures.
Other Key Financial Factors That Impact His Wealth
Angelos’ wealth is also tied to his role in politics. As a former member of the Baltimore City Council, his political ties have likely opened doors to new opportunities, both in the business and legal arenas.
His involvement in public service and his reputation in Maryland may have provided added leverage in his legal and business dealings.
FAQs About Peter Angelos
What is Peter Angelos’ source of wealth?
He has accumulated wealth from multiple sources, including his law career, ownership of the Baltimore Orioles, and racehorse breeding business. His investments and successful legal career have been the driving forces behind his financial success.
How did he make his money?
He made his money primarily through his career as a trial lawyer, the acquisition and ownership of the Baltimore Orioles, and investments in racehorse breeding.
Who are his children?
He has two children, Thomas Angelos and John Angelos, who have both been involved in managing the Baltimore Orioles.
What notable awards has Peter Angelos won?
He has received several significant awards, including the Ellis Island Medal of Honor (1996) and Marylander of the Year (1988), recognizing his contributions to the community and his legal work.
What businesses does he own?
He owns the Baltimore Orioles, one of the most valuable Major League Baseball teams, and he also runs a racehorse breeding business, which has contributed to his wealth.
Conclusion
Peter Angelos’ financial journey is a testament to his ability to navigate both the legal and business worlds. His wealth, built over decades, continues to grow, thanks to his diverse investments and strategic decisions.
For more insights into the finances of famous personalities like him, be sure to check out our other articles at pennbookcenter.com. Don’t forget to leave a comment or share your thoughts on this article!
