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CLEVELAND (WJW) — The owner of the Cleveland Cavaliers is among the richest sports team owners on the planet, Forbes recently revealed in a new list.

That’s right, Dan Gilbert, who resides in Michigan, is the third richest sports owner in the world out of a list of 20, the publication confirmed.

Forbes also highlighted the fact that Gilbert, who co-founded Quicken Loans, is the person on the list who’s gained the most money over one year’s time — much occurring during the coronavirus pandemic.

“He’s worth an estimated $51.9 billion, a nearly 700% increase from last year thanks to the company he cofounded in 1985, Quicken Loans,” Forbes said. “Now the largest mortgage lender in the United States, Quicken went public as Rocket Companies at a massive $36 billion valuation in August 2020, catapulting Gilbert up the ranks of the world’s richest billionaires.”

Mukesh Ambani from India, who owns the cricket team Mumbai Indians, is the richest sports team owner with $85.4 billion.

Read the full World’s Richest Sports Team Owners 2021 list right here. The net worth’s on the Forbes list is compiled from March 2021. The owners of the other professional Cleveland sports teams did not make the list.

The Cleveland Cavaliers basketball team finished this year’s season winning 22 games.