Mark Richard Walter (born January 1, 1960) is an American businessman and the chief executive officer of Guggenheim Partners, a privately held global financial services firm with more than $325 billion in assets under management.
He is the primary owner and chairman of Major League Baseball's Los Angeles Dodgers, which have won two World Series under his leadership.
He is also the primary owner of auto racing organization Andretti Global, which operates the Cadillac Formula 1 team, and the Women's National Basketball Association's Los Angeles Sparks.
[4] In addition, in 2021, it was reported that Walter had purchased numerous commercial and historic buildings in Crested Butte, Colorado, where his family frequently vacations,[3] for an unknown purpose.
[26] According to Boehly, his investment business creates or buys cash-needy companies, which Security Benefit's cash flow helps grow.
Boehly earns money, in part, by buying stakes in the companies, which appreciate in value due to the investment from Security Benefit.
[27] Forbes noted that other investors, like Warren Buffett (whose Berkshire Hathaway company owns insurer GEICO), have used similar tactics to make investments and acquisitions, although it added that Buffett "prefers mundane businesses like truck stops and ketchup.
When Walter bought the Dodgers in 2012, The New York Times' Andrew Ross Sorkin wrote a critical column opining that insurance companies ordinarily do not invest in comparatively risky assets like sports franchises.
[28] After insurers reportedly contributed at least $300 million to the Dodgers bid, government regulators investigated the arrangement but declined to take further action.
[25] Following early qualms, Guggenheim's financial position was strengthened by high television rights fees, as "live sports programming has proven far more resistant to disruption from the likes of Netflix and Amazon than other entertainment fare such as TV series and films.
[37] However, journalist Molly Knight later revealed that Steven A. Cohen (who later bought the New York Mets) had already offered Dodgers owner Frank McCourt $2 billion.
[43] Aided by the TV deal, the Dodgers significantly increased their payroll, which had previously been constricted by McCourt's cash flow issues.
[24] Although the Dodgers have not always been the year's biggest spender,[44] Walter greenlighted spending sprees in 2012 (when the Dodgers "easily" set the MLB single-season payroll record for the next season),[45] 2023 (when the team signed $1.145 billion in contracts),[46] and 2024 (when the team added four nine-figure contracts in fewer than 12 months).
[47] Other members of the Guggenheim consortium include Peter Guber, Earvin “Magic” Johnson, Stan Kasten, Todd Boehly, Bobby Patton, Billie Jean King, Ilana Kloss, Alan Smolinisky, and Robert L.
[48][49][50] Walter owns one-sixth of the Los Angeles Sparks women's basketball team,[16] which a group of Dodgers partners bought in 2014.
[53] Beyond the Sparks, a Group 1001 subsidiary signed Caitlin Clark as a brand ambassador in March 2024, shortly before the 2024 WNBA draft.
[55] Walter had previously joined David Geffen, Oprah Winfrey, and Larry Ellison's unsuccessful 2014 bid for the Los Angeles Clippers,[56] which eventually went to Steve Ballmer.
[64] Walter and his wife were the primary financial backers of the 2018-19 PSA World Squash Championships; with their help, the event presented its largest winners' purses in history.