Haslam and his family owned Pilot Flying J, the largest operator of travel centers in North America. The Knoxville-based company was sold to Berkshire Hathaway between 2017 and 2024 for more than $10 billion. The billionaire owns the NFL's Cleveland Browns, a MLS team and has a stake in the NBA's Milwaukee Bucks.
The majority of Haslam's fortune is derived from proceeds associated with the sale of Pilot Flying J, the closely held truck stock operator founded by his father. It's the largest operator of travel centers in North America, according to its website.
The family sold stakes in the company to Berkshire Hathaway paying them $2.8 billion in 2017 and $8.2 billion in 2023, according to a Bloomberg News report. The remaining 20% stake was sold in January 2024 for a price that was not immediately disclosed. It was calculated here using the $8.2 billion Berkshire paid for 41.4% of the company in January 2023. Prior to disposal of the company, Jimmy was attributed 40% of the family's stake and the others 20% each based on Jimmy's long-time roles as chief executive officer and chairman of the board.
Haslam is also the owner of National Football League franchise the Cleveland Browns and Major League Soccer team Columbus Crew. They're valued using the most recent valuations calculated by sports media firm Sportico. In 2023, he purchased a 25% stake in the Milwaukee Bucks NBA franchise, which is valued at cost.
Haslam's cash and other assets reflects his share of the proceeds of Pilot's sale to Berkshire, less the cost of investing in his sports franchises and adjusted for the impact of taxes and market performance.
Liz Cohen, a representative of the Haslam family, declined to comment on the net worth calculation in December 2023.
James Haslam III was born in Knoxville, Tennessee to Jim and Cynthia Haslam in 1954 and graduated from the University of Tennessee.
He was 20 when his mother died, according to a series on the family published by the Knoxville News Sentinel. Soon after he took his mother's seat on the board at Pilot Flying J, the travel center group founded by his father, and started full-time work at the family business, according to the report.
His father, known as "Big Jim" Haslam, started Pilot with a single gas station he bought for $6,000 in 1958, according to the Wall Street Journal. He merged the company with Flying J in 2001.
Haslam bought the Cleveland Browns for $1 billion in October 2012. Investments were later made in NBA and MLS teams.
Most of Pilot Flying J was sold to Berkshire Hathaway in 2017 and 2023.