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Billionaire Julia Koch and her family are in talks to buy a 10% stake in the Brooklyn Nets. Her family, widely known in the United States, are a polarizing group due to their political contributions and business ventures.
Koch and her family are nearing a deal to buy a take in BSE Global, which owns the Brooklyn Nets. The group also owns the WNBA New York Liberty and the Barclays Center, where both teams play.
Julia Koch married the late billionaire businessman and political lobbyist David Koch. She would be investing in the Nets parent company alongside her three children.
Julia Koch’s money mostly comes from her late husband’s Koch Industries business conglomerate. Koch Industries is not involved in the investment in the Nets. Also, Joe Tsai will retain majority control of the team.
The deal is still in the works. Both Koch and BSE Global could not be reached for public comment to this point, according to Sportico.
Depending on the team's current evaluation, the 10% stake would be sold at an undisclosed amount. Sportico values the Brooklyn Nets at $3.98 billion, the 13th highest in the NBA.
More details about Julia Koch and her family
Julia Koch became one of the wealthiest people in the world after the death of her husband, David Koch. She ranks 24th on the list of most affluent billionaires in the world, according to Forbes.
According to Forbes, Koch and her family have a net worth of $60.6 billion.
Julia Koch, 61, inherited a 42% stake in Koch Industries after her husband died in August 2019 at age 79. They were married in 1996. She is also on the board of the company.
Koch is from Iowa. She moved to New York to pursue a career in fashion. She worked as an assistant to the designer Adolfo.
She worked with many high-profile clients throughout her career. She even designed clothes for First Lady Nancy Reagan.
Koch is also a philanthropist. She donated $10 million to Mount Sinai Medical Center and another $10 million to the Stanford Children’s Hospital. The donations were used in food allergy studies.
She earned her bachelor’s degree from the University of Central Arkansas. She currently resides in New York. She and her late husband have multiple properties in the city, including a $40.25 million townhouse in Manhattan, which is up for sale. She also spends time at her properties in Palm Beach, Florida, and Southampton, New York.
Julia has three children from her marriage to David Koch. She is a known socialite within the Manhattan community. She once co-chaired the Met Gala alongside Anna Wintour.
