Arte Moreno American Businessman Bio, Age, Networth & Family
Arte Moreno: A Saga of Business Success
Arte Moreno stands as a testament to the American dream. Born Arturo Moreno on August 14, 1946, in Tucson, Arizona, he has grown to become one of the most recognized and influential figures in the world of sports and business. As of 2021, at the age of 75, Moreno boasts an impressive résumé that spans various industries, but he is perhaps best known as the owner of Major League Baseball’s Los Angeles Angels.
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Net worth
$1-5 million
Spouse
Carole Moreno (m. 1986)
Parents
Arturo Ricardo Moreno, Mary Moreno
Nationality
American
Education
B.S. University of Arizona
Children
Nikki Moreno, Bryan Moreno, Rico Moreno
Occupation
businessman
The foundation of Moreno’s work ethic can be traced back to his early years. Born to Mexican immigrant parents, he witnessed the values of hard work and determination firsthand. After serving in the Vietnam War with the U.S. Army, Moreno returned home to embark on his entrepreneurial journey.
In the world of advertising, Moreno found his initial success. In 1984, he co-founded Outdoor Systems, an advertising company that specialized in billboards. With a keen sense for business and a knack for understanding market dynamics, Moreno expanded the company. By 1996, Outdoor Systems went public, and in 1998, it was acquired by Infinity Broadcasting for a staggering $8.7 billion.
However, it was Moreno’s foray into the realm of sports that made headlines. In 2003, he acquired the Anaheim Angels baseball team, later renaming them the Los Angeles Angels of Anaheim, and recently simplifying to the Los Angeles Angels. With this acquisition, Moreno became the first Mexican-American to own a major sports team in the United States. Under his leadership, the Angels have seen both successes on the field and substantial growth in their valuation.
Speaking of valuation, Arte Moreno’s net worth, as of 2021, is estimated to be around $3.3 billion, making him one of the wealthiest figures in the world of sports. This wealth is a combination of his ventures in advertising, his ownership of the Angels, and various other investments over the years.
On the personal front, Moreno is a family man. He’s been married to Carole Moreno, and the couple has three children. Known for being private about his personal life, Moreno’s actions speak louder than words when it comes to his commitment to family, community, and philanthropy. He and his wife have been involved in various charitable causes, especially those focusing on education and healthcare.
Arturo Moreno’s 5 Surprising Facts
- Arturo Moreno owns the Los Angeles Angels baseball team, which he purchased for $184 million in 2003. It is now worth approximately $2 billion.
- Moreno’s first wealth came from the sale of his billboard advertising company, Outdoor Systems, to Infinity Broadcasting in 1999 for $8.7 billion.
- He owns stock in other billboard advertising companies as well as commercial real estate in Phoenix.
- Moreno’s $325 million plan to build a new Angels baseball stadium was rejected by Anaheim’s City Council in May 2022.
- A few months later, Moreno declared that he would sell the Angels to the highest bidder.
In conclusion, Arte Moreno’s life and career represent a blend of passion, business acumen, and a commitment to giving back. From his humble beginnings in Tucson to the boardrooms of billion-dollar enterprises and the owner’s box at Angel Stadium, Moreno’s journey is a story of perseverance, vision, and the relentless pursuit of success. As he continues to shape the future of the Los Angeles Angels and influence Major League Baseball, Moreno’s legacy as an American businessman and philanthropist is firmly cemented.
