Billionaire Dan Friedkin has seen his net worth increase significantly over the past 12 months
Prospective Everton owner Dan Friedkin has seen his net worth increase by some £2.5bn ($3.16bn) over the past 12 months. His company, The Friedkin Group, are expected to complete a takeover of the Toffees in the coming weeks.
Friedkin, 59, will add to the list of American owners currently in the Premier League, with half of English football’s top flight either majority owned or having some element of ownership from the US. The Friedkin Group bid for the club, accepted by current owner Farhad Moshiri several weeks ago, is currently working its way towards gaining regulatory approval from the Premier League, FA, and Financial Conduct Authority.
A change of ownership signals a new dawn for Everton, who will take residence in their new 52,888-seater stadium on the banks of the River Mersey at Bramley-Moore Dock from the start of next season, with The Friedkin Group’s return to the table to take control coming on the back of a collapsed bid from the long-doomed 777 Partners, and interest from US billionaire John Textor.
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The Friedkin Group had initially stepped back from talks over concerns around debt to 777 Partners that lay on the club’s balance sheet but returned after finding a workaround the issue.
In Friedkin, Everton will also have one of the wealthiest owners in the Premier League, with the California-born billionaire having amassed a £9.6bn ($12.2bn) fortune that has increased by 26% over the past 12 months alone, according to the Bloomberg Billionaire Index.
Friedkin, who also has Italian side AS Roma as part of his portfolio, is chairman and chief executive of The Friedkin Group, owner of Gulf States Toyota, a firm his father started. The Houston-based distributor of Toyota cars and trucks serves more than 150 dealerships across five US states, while The Friedkin Group also has entertainment and hospitality businesses, including Imperative Entertainment.
According to 2023 financial figures, Gulf States Toyota was the largest contributor to the $13.3bn in annual revenue that The Friedkin Group made, accounting for 82%, according to Bloomberg figures.
