- Name: Arte Moreno
- Current Age: 75
- Occupation(s): Businessman, Owner of Los Angeles Angels
- Date of Birth: August 14, 1946
- Place of Birth: Tucson, Arizona, USA
- Nationality: American
- Parents: Mexican immigrant parents
- Spouse: Carole Moreno
- Children: Three daughters
- Net Worth (2024): Estimated at $3.5 billion
- Source of Wealth: Sports team ownership, investments
- Ventures: Owner of Outdoor Systems, Inc., and Los Angeles Angels
- Ethnicity: Mexican-American
- Height: 5’7"
- Weight: N/A
- Notable Works: Revitalizing the Los Angeles Angels franchise
Early Life and Education
Arturo "Arte" Moreno was born on August 14, 1946, in Tucson, Arizona, to Mexican American parents. He is the oldest of 11 children. His father ran a small print shop, and his grandfather owned Tucson’s first Spanish-language newspaper. Moreno graduated from high school in 1965 and then served in the United States Army during the Vietnam War. After returning to civilian life in 1968, he attended the University of Arizona, graduating in 1973 with a degree in marketing.
Career in Business
After completing his education, Moreno worked in the advertising industry, eventually becoming the president and CEO of Outdoor Systems. In 1996, he took the company public, and in 1998, it was acquired by Infinity Broadcasting for $8 billion. Moreno’s success in the business world allowed him to pursue his passion for baseball.
Ownership of the Anaheim Angels
In 2003, Moreno made history by becoming the first Mexican-American to own a major sports team in the United States when he purchased the Anaheim Angels from the Walt Disney Company for $180 million. Under his ownership, the team experienced both success and controversy, including a name change from the Anaheim Angels to the Los Angeles Angels of Anaheim, which sparked backlash from fans and city officials.
Success and Challenges as Owner
During Moreno’s tenure, the Angels achieved several winning seasons and division championships. However, the team struggled to make significant postseason runs, despite high-profile player acquisitions. Moreno also faced criticism for the team’s performance and decisions, such as the failed Albert Pujols signing. The Angels’ inability to reach the playoffs for several consecutive seasons led to scrutiny of Moreno’s leadership.
Business Ventures and Philanthropy
In addition to his sports ownership, Moreno has invested in radio broadcasting, purchasing Radio 830 KMXE and later rebranding it as AM830 KLAA. He has also been involved in philanthropic efforts through the Moreno Family Foundation, supporting youth and education initiatives. Moreno is known for his dedication to his family and his support of Republican politics, as well as his commitment to maintaining privacy in his personal life.
Recent Developments
In August 2022, Moreno announced his intention to explore selling the Angels franchise, citing "unfinished business." However, he later decided to retain ownership of the team. Despite facing challenges and criticism, Moreno remains committed to leading the Angels and shaping the future of the organization.
Financial Insights:
Arte Moreno’s net worth is estimated to be around $3.5 billion in 2024. The majority of his wealth comes from his ownership of the Los Angeles Angels, which has appreciated significantly in value since he acquired the team. Additionally, Moreno’s investments in various industries have contributed to his financial success.
Factors Contributing to Wealth:
- Sports Team Ownership: Moreno’s ownership of the Los Angeles Angels has been a major source of his wealth. The team’s success on the field, combined with lucrative broadcasting deals and sponsorships, has boosted the franchise’s value.
- Investments: In addition to his sports ventures, Moreno has made strategic investments in diverse industries, further growing his wealth. His keen business sense and ability to identify profitable opportunities have been key factors in his financial success.
Expert Opinions and Citations:
According to sports business analysts, Arte Moreno’s impact on the Los Angeles Angels franchise goes beyond financial success. His commitment to building a winning team and engaging with the community has solidified the Angels’ position as a beloved sports entity in Southern California.
