Patriots owner Robert Kraft makes his stance clear on his $6.7 billion-worth 'unique asset' 

Robert Kraft has helped turn the New England Patriots’ fortunes around. Since purchasing the team in 1994, they’ve missed the playoffs only seven times. They also made it to 14 AFC Championship games, including eight straight from 2011 to 2018.

But while the franchise has won six Super Bowl titles during their glory days, they’ve fallen on hard times lately. They’ve won only one of their first five games in the 2023 season, Bill Belichick’s 24th season as head coach. Even then, Kraft will hold on to the team with a multi-billion-dollar valuation.

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Robert Kraft won’t sell the $6.7 billion-worth New England Patriots

Sportico estimates the New England Patriots’ 2023 valuation at $6.7 billion, making it the fourth most-expensive NFL franchise. That value is also a 14 percent year-over-year increase. An asset with that price tag might entice some ownership groups to make an offer, hoping to take control.

However, as Bloomberg’s Francesca Maglione reporter, Robert Kraft isn’t interested in selling the Patriots. He said in an interview for The Dave Rubenstein Show: Peer to Peer Conversations:

“Never in my lifetime. And I hope my children keep it going as well because it’s such a unique asset.”

Kraft purchased the Patriots from James Busch Orthwein in January 1994 for $172 million. It was the highest price paid for an NFL franchise at that time. Six years earlier, he collaborated with Orthwein to purchase Foxboro Stadium from Stadium Management Corporation. After Foxboro Stadium was demolished in 2002, the Patriots called Gillette Stadium home.

Meanwhile, Robert Kraft’s valuation increased as the Patriots became more expensive. The Kraft Group CEO and Chairman has an $8.2 billion net worth, according to the Bloomberg Billionaire Index. But beyond the wealth from owning an NFL franchise, the love for the game enticed Kraft to get into football.

He couldn’t participate in high school football games because they observed the Jewish Sabbath. That changed in college when he played for Columbia College while on an academic scholarship.

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How many children does Robert Kraft have?

The 82-year-old multi-billionaire hopes his children will inherit his passion for the sport. His son Jonathan is the president of the Kraft Group and the Patriots. Jonathan is the oldest of Robert Kraft’s four children.

His younger children are Daniel A. Kraft, Joshua M. Kraft, and David H. Kraft. Daniel and Joshua are also involved in the Kraft Group. Daniel is the President of International Forest Products, LLC, while Joshua is the New England Patriots Foundation president.

Jonathan, Daniel, Joshua, and David are Robert’s sons with Myra Nathalie Hiatt, whom he married in June 1963. She passed away in July 2011 at 68. The Patriots wore MHK patches during the 2011 season to honor her legacy.

The Kraft patriarch re-married in October 2022 with Dana Blumberg. Tommy Hilfiger announced their engagement at the Foundation for AIDS Research Gala seven months earlier.

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Robert Kraft investments and businesses explored

Robert Kraft founded Kraft Group, LLC in 1998. It is a holding company of their family’s business interests, including sports and entertainment, paper and packaging, real estate development, and private equity investments.

Aside from the Patriots, the company also owns Major League Soccer’s New England Revolution, Gilette Stadium, and the multi-million lifestyle and entertainment center Patriot Place. They also invested in the Call of Duty League team Boston Breach and the Overwatch League franchise Boston Uprising.

They also own Rand-Whitney Group, LLC, founded in 1857 and once owned by Kraft’s former father-in-law, Jacob Hiatt. The group controls Rand-Whiteney Container, Rand-Whitney Containerboard, and Rand-Whitney Waste.

The Kraft Group also controls Kraft Analytics Group and invests in Ampal Enterprises, Ltd., American-Israeli Paper Mills, Ltd., and Carmel Container Systems, Ltd.

Aside from being a successful businessman, Robert Kraft is also a philanthropist. In 2014, he established a grant program that awarded $100,000 to non-profit organizations in New England.

They also operate the Kraft Center for Community Health and the Kraft Center at Columbia/Barnard Hillel for cultural and social activities.