Ted Lerner Net Worth: Recently deceased Washington Nationals owner's wealth explored

Ted Lerner, the owner of the Washington Nationals, has died at the age of 97. Lerner was the first and most private owner that the team has ever known since they moved to Washington DC in 2005.

Lerner was born in Washington DC in 1925 to a working class immigrant Jewish family. From a young age, he had an abiding entrepreneurial spirit and often considered the steps needed to build a business.

On Feb. 12, Ted Lerner died peacefully at his home in Chevy Chase, Maryland. He was about nine months away from his 98th birthday. At the time of his death, it is estimated that his net worth was anywhere from $5.5 billion to $7 billion.

After working as a typist for the US Army throughout World War II, Lerner finally had the chance that he was looking for. With a $250 loan, Lerner acquired his first commercial property and established Lerner Enterprises, a real estate company, in 1952.

Lerner spent the next five decades expanding his operations and clientele. By the mid-1980s, Lerner was operating a property empire that included some key commercial premises as well as thousands of residential properties in places like New York City and Washington DC.

By the early 2000s, it became clear that the Montreal Expos were failing. Attendance was in a nosedive and their stadium was in a dismal state, repelling players and fans alike.

"Today in #Nats history. May 3rd, 2006 - MLB agrees to sell the Nationals to a group led by Ted Lerner for $450 million. In 2002, the 29 other MLB owners collectively bought the Montreal Expos for $120 million and then moved the failing franchise to DC in 2005" - The District Dugout

The team moved to DC in 2005, and was purchased by Ted Lerner in 2006. Lerner served as managing principal owner and brought on Stan Kasten as team president. Kasten was the president of the Atlanta Braves during their period of dominance in the late 1990s.

Lerner stepped away from the organization at the age of 93 in 2018. The following year, the Washington Nationals defeated the Houston Astros in a seven-game World Series in 2019.

"Ryan Zimmerman’s tribute to Ted Lerner. Classy as always." - Washington DC Sports News

Ted Lerner's son will take over an organization amid a rebuild

Ted's son, Mark, will be the principal owner of the team next season. Since winning the World Series, the team has not made it back to the postseason. They also dealt one of the best players they saw in a generation, Juan Soto, in 2022. This clearly shows the team is rebuilding, and it will be some time before they are able to compete against the league's best again.