Ted Leonsis

Ted Leonsis is an American businessman with ventures in technology, media, and sports. He is the founder, chairman, and CEO of Monumental Sports & Entertainment, overseeing professional sports franchises such as the Washington Wizards, Washington Capitals, Washington Mystics, and Capital City Go-Go. His net worth is estimated at $2.8 billion, making him one of the wealthiest individuals in the Washington, D.C., area. Before founding Monumental Sports & Entertainment, Leonsis had a successful career at America Online (AOL), holding various executive positions including President and Vice-Chairman. He also co-founded Snagfilms, a leading site for online documentary films, and Revolution Money, an early player in the digital payments space. Leonsis is credited with coining the term "new media" during his time at Redgate Communications. Aside from his business pursuits, Leonsis has been recognized as Washington's Businessman of the Year and one of the top 20 most influential people in sports. He serves on several boards, including American Express and Groupon, and holds positions within the NBA and NHL governance structures. Leonsis is known for securing public subsidies for his teams' operations. In 2023, he negotiated a $1.35 billion deal with Virginia taxpayers to fund a new stadium, marking the largest public stadium subsidy of its kind. His philanthropic efforts include supporting charities through the Leonsis Foundation and serving as chairman of DC-CAP, which encourages college enrollment among District of Columbia high school students.