yes, but it goes beyond revenue. I know we are 22nd in revenue vs payroll, but guess what, its worse than that.
Someone like henry , a legacy owner vs a new owner. Forget revenue for jsut one sec (please), Henry has a 6x growth on valuation during his tenure as principal owner. This has nothing to do with income (profit/cash into his pocket), its purely buy red sox for 700m, they are worth 4b today. Which means he could (and has) sell lets say 10% (or give it in an asset trade, which same thing) and get 400m back in assets/cash. Thats selling 10% of his investment for more than 50% of his money back.
The money that Henry has made. The obscene wealth that he has amassed. Its more from just revenue. And we're not even getting into the opportunities that the red sox have blessed him with. For example, are you aware that JH made 900m (profit) this week?
He bought the penguins for 900m 4 years ago, and sold them THIS week for 1.8b. How did he come up with the 900m originally (which he doubled up on). Well, when one of your assets appreciates in value from 700m to 4b you now have 6x the collateral to borrow against. You can sell a measly 10% of your stake to generate 400m. The Red Sox have given JH more than he has given us, and thats okay.
My only point here is that the revenue to payroll comparisons dont tell a fraction of the story. Hes made multiple billions in valuaion increases alone and that exclues any salary/profit-share hes withdrawn, which im sure is at least another billion
And Im sorry but I reject that hes smart. WEll, I reject that this is an example of intelligence, Im sure JH is smart. But this is more of an example of how easy it is to make money when you already have money