While other owners splurge on art, beachfront properties and European soccer teams, Irsay has spent $100 million building a collection of music, sports and other memorabilia of pop culture.
His passion for music and musical instruments makes him one of the few billionaires who spends fortunes and collects items used by major rock stars.
The story of Jim Irsay, the billionaire who likes to collect guitars from big rock stars
Irsay was 12 years old when his father, Robert Irsay, acquired the Baltimore Coltsafter initially purchasing the Los Angeles Rams for $12 million and immediately swapping franchises with Colts owner Carroll Rosenbloom. He spent time with the team as a youngster, even He served as a ball boy on the field and worked in the ticket office helping to answer phones.
After graduating from SMU in 1982, he joined the Colts’ professional staff.He initially received an orientation in all facets of the Colts’ football and administrative operations before being added to the personnel department prior to the 1983 season.
He was appointed Vice President and General Manager at the beginning of 1984, immediately after the Colts moved from Baltimore to Indianapolis. At 24, he was the youngest person to hold the title of NFL General Manager.
After his father suffered a stroke in 1995, Jim He assumed day-to-day management of the club, with the modified title of “Senior Executive Vice President, General Manager and Chief Operating Officer.”When his father died in 1997, Jim became involved in a legal battle with his stepmother over ownership of the team and later became the youngest NFL team owner at age 37.
Outside of American football, Irsay has made significant investments in music and memorabiliaIn 2021, Guitar Magazine characterized Irsay as the owner of “the largest guitar collection on Earth”. From Elvis Presley, George Harrison, John Lennon, Paul McCartney, Jerry Garcia (“Tiger”), Prince, Les Paul’s Black Beauty from 1954 and other notable artists.
His purchases have broken records:
- In 2014 he bought the electric guitar that Bob Dylan played in Newport for just under $1 million.
- In 2017, he paid $2.2 million for a Ludwig drum kit belonging to Ringo Starr.
- On June 20, 2019, he shelled out a record $3.975 million for a guitar, known as The Black Strat, formerly owned by Pink Floyd guitarist David Gilmour.
- On May 23, 2022, he spent $4.6 million for the 1969 Fender Mustang used by Nirvana’s Kurt Cobain in the music video for “Smells Like Teen Spirit”.
How much is Jim Irsay’s fortune, according to Forbes
The 65-year-old Indianapolis Colts CEO owns an original manuscript of Jack Kerouac’s novel “On the Road,” as well as the aforementioned guitars of several rock legends, including Prince, Bob Dylan and Jerry Garcia. His net worth is $4.4 billion, according to Forbes.
Source: Ambito
