What was Bud Adams' Net Worth?
Bud Adams was an American billionaire businessman and who had a net worth of $1.1 billion at the time of his death in 2013. Bud Adams was best known for owning the NFL team The Tennessee Titans. Bud Adams made his first fortune in the oil business. He then helped form the American Football League (now part of the NFL) before earning another fortune with the rising value of the Tennessee Titans.
Early Life
Kenneth Stanley "Bud" Adams, Jr. was born on January 3, 1923, in Bartlesville, Oklahoma, to K.S. "Boots" Adams and Blanch Keeler Adams. His father succeeded founder Frank Phillips as president of Phillips Petroleum Company in 1939.
Bud Adams graduated from Culver Military Academy in 1940 and lettered in three sports. And after a brief stint at Menlo College, Adams moved on to the University of Kansas where he played for the varsity football team and earned an engineering degree.
Adams served in the United States Navy during World War II where he attained the rank of Lieutenant (Junior Grade). After his discharge in 1946, he was on a trip in which his plane became fogbound in Houston, Texas, and he liked the city so much he decided to settle there.
American Football League
Bud Adams showed an interest in purchasing an NFL team early on – back in 1959, he attempted to purchase the Chicago Cardinals for the purpose of moving them to his native Houston. After this attempt failed, he collaborated with fellow oil industry heavyweight Lamar Hunt to form their very own football league. That league eventually became the American Football League, which is now part of the National Football League.
Getty Images
Tennessee Titans
Adams was perhaps best known as the owner of the Tennessee Titans, which he brought to Tennessee as the Tennessee Oilers after purchasing the team from Houston. In 2005, he founded the Nashville Kats of the Arena Football League alongside partner Mark Bloom. His popularity went up and down in association with these teams largely for his tendency to micromanage and take an exceedingly hands-on approach to their day-to-day operations.
Other Business Ventures
Aside from football, he held other businesses in the Houston area. Bud Adams had initially accumulated his fortune in the petroleum business as a Chairman and CEO of Adams Resources & Energy Inc, a wholesale provider of oil and natural gas. Furthermore, he was the owner of several Lincoln-Mercury automobile franchises. Adams was also a founder and owner of the Houston Mavericks ABA basketball franchise from 1967-1969.
Personal Life
Bud Adams was married to his wife, Nancy Neville Adams, for 62 years until her death in February of 2009 at the age of 84. They had two daughters, Susan and Amy, and a son, Kenneth S. Adams III, together. Their son died in June of 1987 at 29 years old from apparent suicide.
Adams was an enrolled member of the Cherokee Nation by virtue of his maternal line. He served as a member of the executive committee of the Cherokee National Historical Society.
Kenneth Adams, Jr. remained active in all aspects of his life until October of 2013, when he died of natural causes at his Houston home at age of 90.
Read more: Bud Adams Net Worth
0 Comments