As of 2022, the Maloof family has an estimated net worth of $1 billion. Originally from New Mexico, the family previously owned Sacramento Kings and currently owns a casino, multiple entertainment productions, and a skateboarding franchise. Additionally, the Maloof family is not related to Sammy Maloof from Netflix's 'Drive Hard: The Maloof Way'.
The fascinating reality series Drive Hard: The Maloof Way on Netflix centers on the Maloof family and shows how they use their knowledge to prepare cars for profitable races. Sammy Maloof and his daughters are well-known racers, but they also pull off the craziest antics that will make your jaw drop. This series has everything to satisfy even the most ardent auto lovers, including fast automobiles, competitive racetrack action, and dramatic stunts.
As we all know Sammy isn't the only famous Maloof as George J. Maloof Sr. came to the limelight a long time before the Netflix star. Often regarded as the Maloof family, George and his children have set up a benchmark in the business industry and are very familiar among many of us.
As soon as the show arrived on Netflix, many viewers were curious to know if Sammy and the Maloof family were related to each other. Well, they're not. Similarly, many viewers want to know more about the family and their combined net worth. Well, we've got you covered.
Previously, we touched on Hannah Maloof.
Maloof Family’s Net Worth: Originally From New Mexico, the Family Is Worth $1 Billion in 2022; Sacramento Kings, Casino & Other Properties!
The Maloof family, who has an estimated net worth of $1 billion in 2022, is a notable American family based in Las Vegas, Nevada, who control a number of commercial properties in the Western United States. The family's paternal grandfather is a Lebanese immigrant.
George J. Maloof Sr., Adrienne Maloof (@adriennemaloof), and George J. Maloof Jr. are prominent members of the family. The family's fame began in 1937 when they were granted distribution rights for Coors Beer in the US's Southwest region. They were originally from New Mexico.
From 1998 through 2013, the Sacramento Kings of the NBA were owned by the family. In 1998, the Maloofs bought a small stake in the Kings before increasing their ownership the following year, with Joe and Gavin running the team. The Sacramento Monarchs, the team's WNBA sister franchise, was also purchased together with the Kings.
Up until 2009, the Maloofs were the Monarchs' owners. However, the WNBA was unable to locate a replacement, and the franchise was forced to disband. The family sold its 65% ownership to a Sacramento company run by Vivek Ranadive in 2013 for $347 million.
From 1979 to 1982, the Maloof family also held ownership of the Houston Rockets, who won the NBA Finals in 1981 before being sold to Charlie Thomas in 1982. The NHL's Vegas Golden Knights, who advanced to the Stanley Cup Final in their first season, are another team that the Maloofs have a small stake in.
Similarly, the Fiesta Rancho hotel-casino in North Las Vegas was founded by the Maloof family in 1994. It was sold to another company for more than $185 million in 2000. The funds were used to build the Palms Casino Resort hotel and casino.
In a failed attempt to salvage the Palms and Palms Towers, the Maloofs sold their beer distribution business. A restructuring in 2011 reduced the Maloofs' ownership to 2% and granted private equity companies TPG Capital and Leonard Green & Partners each a 49% stake.
The establishment of Maloof Productions marks the Maloofs' expansion into the entertainment industry. They produced the reality series Bullrun for Spike TV in 2007, Speed Channel in 2009, and Living Lohan for E! in 2008 through their television company, Maloof Television. The movie subsidiary, Maloof Motion Pictures, produced the 2005 movie Feast and was now working on Pierce Brosnan's The Big Bizarro.
Additionally, The Maloof Money Cup was a skateboarding competition that was started in 2008 by brothers Joe and Gavin Maloof. The US Pro Men's and Women's Street Championships, the US Pro Vert Championships, and the Maloof Money Cup AM Championships are among the events that make up the competition series' dates in Orange County, US.