Edward Malcolm Snider was born on 6 January 1933, in Washington, DC, USA, of Jewish descent. Ed was the chairman of sports and entertainment company Comcast Spectacor, which owned the Wells Fargo Center, Comcast SportsNest, and the National Hockey League (NHL) team, the Philadelphia Flyers. All of his efforts helped put his net worth to where it was prior to his passing in early 2016.
How rich was Ed Snider? As of late-2016, sources inform us of a net worth that was at $2.5 billion, mostly earned through his success in the sports and entertainment industry. He was the former owner of the National Basketball Association (NBA) team, the Philadelphia 76ers, and also the part-owner of the National Football League (NFL) team, the Philadelphia Eagles. All of his achievements ensured the position of his wealth.
Ed Snider Net Worth $2.5 billion
Snider attended the University of Maryland ,and after graduating, became a partner in the record company Edge Ltd. The company would soon be sold, and he would then join Earl Foreman to buy the Philadelphia Eagles in 1964, becoming the treasurer and vice president of the team. After learning that the NHL was planning to expand, he helped plan and build the arena called Spectrum to host the 76ers, as well as a hockey team, which led the NHL to give them a conditional franchise that would become the Philadelphia Flyers. In 1971, he assumed control of the Spectrum and would create Spectacor as a holding company for the two sports teams. After three years, the Flyers would win the Stanley Cup and would be repeat champions in 1975. His continued success and acquisitions helped increase his net worth.
Spectacor would then acquire several businesses, including the cable channel PRISM and the sports radio station WIP. Snider then went on with creating the CoreStates Center which would eventually become the Wells Fargo Center. In 1996, he sold a 66% stake in Spectacor which led to the company Comcast Spectacor, but he retained the chairman’s position. Soon, the combined company would create Comcast SportsNet, and they would also buy the 76ers team. He also won an expansion franchise in the AHL, solidifying his status as a major player in the sports sector. His net worth was also increasing at a fast pace during this time, and continued when in 2005, Ed became an investor in a Foxwoods slots casino which would be built next to Philadelphia’s Chinatown community.
For his achievements, Ed was inducted into the Hockey Hall of Fame in 1988. He also became part of the Philadelphia Jewish Sports Hall of Fame in 1997. Eight years later, he was inducted into the Philadelphia Sports Hall of Fame, and was also inducted to the United States Hockey Hall of Fame in 2011.
For his personal life, Ed was married four times, firstly to Myrna Gordon which ended in 1981. In 1983, he married model Martha McGeary which also ended in divorce. In 2004, he married former singer Christine Decroix and their marriage lasted until 2009. His last marriage was to Lin Spivak in 2013. it is known that Snider had six children and 15 grandchildren at the time of his death. His son Jay Snider would become the president of the Philadelphia Flyers from 1983 to 1994. In 2014, Snider was diagnosed with bladder cancer and though initial treatments were successful, the disease returned. He passed away in April 2016 due to this sickness. The Flyers wore a patch in memory of him during the 2016 season.
