Daniel Marc Snyder was born on 23 November 1964, in Silver Spring, Maryland USA, to Jewish parents Arlette and Gerald Snyder. He is an entrepreneur and most notably the owner of the American Football team the Washington Redskins.
So just how wealthy is Dan Snyder now? Sources estimate that Snyder’s net worth is as high as $1.7 billion, as of early 2016, which makes him one of the richest owners in sports. Snyder’s wealth has been established through his various successful business endeavors.
Daniel Snyder Net Worth $2.1 Billion
Snyder attended Hillandale Elementary School in his hometown. When his family moved to Henley-on-Thames in the UK when Snyder was 12, he attended the town’s private school. At 14, he moved back to USA to live with his grandmother in Queens. After matriculating from Charles W. Woodward High School in Rockville, Maryland, he enrolled at the University of Maryland, College Park and also found a job at B. Dalton bookstore. He also started to sell bus-trip packages with his father, which later proved an unsuccessful venture. Snyder dropped out of college at the age of 20 and started his own business leasing jets to fly college students to Fort Lauderdale and Caribbean spring breaks. Entrepreneur Mortimer Zuckerman financed Snyder’s release of a magazine aimed at college students Campus USA, by investing $3 million in it. However, the business failed and was closed two years later.
In 1989, Snyder and his sister Michelle started the company Snyder Communications LP, based on wallboard advertising. The company started as being focused on doctor’s offices and colleges. When the business became successful, the company expanded to various other marketing areas, and later to telemarketing. It soon grew into a global organization offering marketing services to the most powerful clients. In 1993 its annual revenues were as high as $9 million, but the company was expanding, and in 1998 its revenues were $1 billion. Snyder’s wealth was boosted and he became the youngest CEO of New York Stock Exchange company. The company was later sold to the French advertising company Havas. This was the biggest advertising transaction ever, valued at $2 billion.
In 1999 Snyder bought the Washington Redskins, his favorite football team, as well as then-named Jack Kent Cooke Stadium for $800 million. In order to settle the team’s debts, he sold 35% of the team, but remaining its major owner. Since then, the Redskins have become the third highest grossing team, with its annual revenues being around $245 million, which has significantly added to Snyder’s wealth. The team secured the most powerful sponsors, such as FedEx, with whom Snyder made a $207 million deal to sell naming rights to the team’s stadium, which was subsequently renamed to FedExField. Since the purchase, Snyder has invested more than $100 million in improvements to the stadium.
Snyder also owns the Red Zebra Broadcasting, a sports marketing company which operates several radio stations whose programming is centered on covering the Redskins games. In 2000 he expanded the company by purchasing several new stations. The following year Snyder financed Tom Cruise’s production company, and was given the role of an executive producer of the 2008 Tom Cruise movie “Valkyrie”. The same year he purchased the popular dinner chain Johnny Rockets but sold it in 2013. He also bought Dick Clark Productions company which he later sold for $175 million. In 2005, through his private equity company Red Zone Capital, Snyder purchased a 12% share of Six Flags, the biggest amusement park operator in the world, but it proved to be a failed investment. Reportedly, Snyder has been interested in purchasing the London soccer club Tottenham Hotspur F.C., which is presently valued at $725 million.
To talk about the personal life of the successful businessman, since 1994 Snyder has been married to former Atlanta fashion model Tanya Snyder, who is now a spokesperson for Breast Cancer Awareness. The couple has three children.
Snyder is a devoted philanthropist who founded the Washington Redskins Charitable Foundation, focused on the youth development in the aspects of education, health and wellness. Since its launch in 2000, the foundation has spent over $15 million in reaching its goals. Following the 11 September attacks, Snyder gave $1 million to provide the aid to the victims. He also provided financial support to the victims of Indonesian and Thai tsunami in 2004, and gave $600, 000 to help the victims of the 2005 Hurricane Katrina. Additionally Snyder has provided support to the Children’s Hospital in Washington and the National Center for Missing and Exploited Children.
In 2014, he founded the Washington Redskins Original Americans Foundation, which provides help to the Native Americans of various Tribal communities.
