Forbes.com came out with its list of the world’s billionaires and UFC owners Frank and Lorenzo Fertitta made the list at 1057 and 1140 respectively. The Fertittas made their money in the casino business prior to investing in the UFC.
Frank’s worth is $1.1 billion and Lorenzo comes in at $1 billion. Although their empire is based out of the casino business, the recent financial success of the UFC helped.
H/t: MMA Mania
In addition to making the big money list on Forbes, Lorenzo spoke at his alma mater, the University of San Diego, last month. Lorenzo spoke to USD business students. During his talk, Lorenzo spoke about the rise of UFC and how they tried to develop a business model different than boxing.
Via USD press:
“The boxing industry didn’t have a viable business model,” said Fertitta. “There was no brand in professional boxing, and the promoters were fragmented and often times corrupt.” Fertitta saw this broken business model up close during his stint with the Nevada State Athletic Commission, and recognized it as an opportunity to turn the struggling UFC brand into a worldwide industry.
The UFC proudly occupies the number one spot in the 18-34 male demographic in several areas, including print magazine sales and TV ratings. Their events have consistently outpeformed Monday Night Football in the coveted 18-34 category, resulting in some key partnerships with huge advertising brands eager to reach that same audience.
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