The MIT grad parlayed his finance technology startup into profitable ownership of the Sacramento Kings.
The fortune Vivek Ranadivé built pioneering technology to revolutionize Wall Street trading gave him the means to become an NBA franchise owner.
In 2013 The NBA’s Board of Governors approved a $534 million bid for the Sacramento Kings from Ranadivé’s ownership group. The acquisition made Ranadivé the first Indian American majority owner of an NBA franchise.
Today that franchise is worth $4.5 billion, over 8 times the purchase price. His bid also put an end to the previous owner’s relocation effort and brought a new arena to Sacramento in 2016.
Ranadivé first entered the NBA in 2010 as co-owner and vice chairman of the Golden State Warriors. That stake had to be sold before he could become the Kings’ owner.
In 2022 Ranadivé expanded into baseball by paying $90 million for the San Francisco Giants’ Triple-A affiliate Sacramento River Cats.
Today, at age 67, his net worth is estimated at $700 million.
Ranadivé began building his fortune by founding Teknekron Software Systems in 1985 with $250,000 in seed money to develop trading software for financial markets. Nine years later he sold Teknekron to Reuters for $125 million.
In 1997 Ranadivé launched TIBCO Software to develop infrastructure software. Its 1999 IPO raised $110 million. Ranadivé was its CEO until 2014 when it was acquired by Vista Equity Partners for $4.2 billion. Ranadivé grew up in Mumbai. He immigrated to the United States in 1975 at the age of 18. His intensive studies in electrical engineering at MIT earned him simultaneous bachelor’s and master’s degrees in 1979. Four years later he earned an MBA from Harvard.
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