Robert Kraft's House

Robert Kraft owns this beautiful Palm Beach ocean side home, which is pictured under renovation. Kraft is an entrepreneur and owner of the New England Patriots NFL and New England Revolution MLS teams. Kraft is well known as a billionaire businessman, and currently serves as chairman and CEO of the Kraft Group, a diversified holding company with assets in paper and packaging, sports and entertainment, real estate development and a private equity portfolio. Krafts success even allowed him to purchase Gillette Stadium, where both of his teams play. He also owns the Boston Uprising, the first eSports team in New England, but they haven’t quite earned the notoriety that his other two sports ventures have.

Robert Kraft is estimated to have a net worth between $6.35 billion and $6.9 billion. Much of this wealth comes from the New England Patriots football team, which is a franchise with an estimated worth of $4.1 billion.

Kraft got his start in business working for his father-in-law, Jacob Hiatt. At the time Hiatt ran a company that manufactured paper packaging called Rand-Whitney. Just three years after graduating from college, Kraft purchased his father-in-law's share of Rand-Whitney, giving him a controlling stake in the company. By 1972 Kraft had bought out the remaining owners and assumed full control, from here Kraft launched his investment firm, and through consistent successes became one of the wealthiest men in the world. After assuming full control of Rand-Whitney, Kraft formed a company called International Forest Products. This firm trades in paper, pulp and other physical paper commodities. Kraft grew the two companies, Rand-Whitney and IFP, into the largest combined source of paper/cardboard packaging and packaging materials in the world.

Thanks to a keen investment acumen, Kraft expanded early in his career beyond the packaging industry that made his initial fortune. In 1975, as part of a partnership, he bought an interest in a tennis team called the Boston Lobsters, acquired control of the television station WNAC-TV, and founded a soccer team called the New England Revolution, well before the MLS craze of the later 2000s.