Early Life and Education
Frank H. McCourt Jr. was born on August 14, 1953, in Boston, Massachusetts. He earned a degree in economics from Georgetown University in 1975. McCourt's family had a long history in the construction and real estate business, which influenced his career path. He began developing commercial real estate in Boston in 1977, founding The McCourt Company.
Rise to Success
McCourt's career took a significant turn in 2004 when he purchased the Los Angeles Dodgers for $430 million. He later sold the team in 2012 for a record $2.15 billion. This success in baseball significantly contributed to his net worth. McCourt then invested in real estate, sports, and technology through McCourt Global. In 2016, he acquired the French football club Olympique de Marseille.
Key Business Strategies
McCourt's business strategy is characterized by diversification and a focus on long-term investments. His early focus on real estate laid the foundation for his success. Later, his acquisition of the Los Angeles Dodgers showcased his ability to identify and capitalize on opportunities. Furthermore, his purchase of Olympique de Marseille expanded his sports empire internationally. More recently, McCourt has focused on technology and media through Project Liberty.
Philanthropy
Frank McCourt is known for his philanthropic efforts. He established the McCourt School of Public Policy at Georgetown University with a $100 million donation in 2013, and made a second $100 million gift in 2021. He also founded ThinkCure! to fight cancer. He has also donated the Los Angeles Marathon to The McCourt Foundation.