Joe Lacob
Encyclopedia
Joseph "Joe" Lacob is a partner at Kleiner Perkins Caufield & Byers and the majority owner of the Golden State Warriors
of the National Basketball Association
(NBA).
. His father worked at a paper products company, his mother at a local supermarket. Lacob became a fan of the Boston Celtics
. When Lacob was 14, the company that employed his father was sold, firing everyone except his dad, and Lacob's family relocated to Anaheim, California
. Lacob subsequently became a fan of the Los Angeles Lakers
and the Los Angeles Angels of Anaheim
.
Lacob received a Bachelor's in Biological Sciences from the University of California, Irvine
(UCI), a Master's in Public Health (epidemiology) from University of California, Los Angeles
(UCLA) and an M.B.A. from the Stanford Graduate School of Business
"I was a very poor kid," Lacob said. "Had nothing. I paid every dime of my education through college. Every single dime. I was the first person to graduate from college in the history of my family. Ever. I came from nothing."
, Invisalign
and NuVasive
. Prior to joining Kleiner Perkins Mr. Lacob was an executive with Cetus Corporation
(now Chiron), FHP International, a health maintenance organization, and the management consulting firm of Booz, Allen & Hamilton. In interviews he has mentioned his epidemiology degree as giving him a background in statistics that has also related to an interest in statistics in sports.
Lacob was a primary investor in the American Basketball League, a professional women's basketball league that eventually folded against its rival, the Women's National Basketball Association
(WNBA). In January, 2006, Lacob became a part owner of the Celtics, where he became a co-investor with H. Irving Grousbeck
, an entrepreneur and professor at the Stanford Graduate School of Business
. On July 15, 2010, Lacob and a group of investors agreed to buy the Warriors from Chris Cohan for $450 million which will require him to sell his minority interest in the Celtics. There were a dozen other bidders for the Warriors, including Oracle
chief executive officer Larry Ellison
, 24-Hour Fitness
founder Mark Mastrov and Texas billionaire financier David Bonderman
. Lacob was a Warriors season-ticket-holder for about a decade. Lacob has extensive experience with the operations of an NBA team as a part owner of the Boston Celtics and he also has mentioned his friendships with Billy Beane
of the Oakland Athletics
and Jeff Moorad
of the San Diego Padres
who have both proven that winning records are not solely related to the size of the team payroll. While the sale of the Warriors was pending league approval, Lacob was involved with personnel decision with Cohan's blessing. He approved the acquisitions of David Lee
and undrafted rookie guard Jeremy Lin
, a hometown favorite. He also fired coach Don Nelson
and replaced him with assistant Keith Smart
. The sale was unanimously approved by the NBA league's board of governors on November 12, 2010. Lacob and Peter Guber
are the chief owners, while Lacob will handle the day-to-day operations.
Golden State Warriors
The Golden State Warriors are an American professional basketball team based in Oakland, California. They are part of the Pacific Division of the Western Conference in the National Basketball Association...
of the National Basketball Association
National Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
(NBA).
Early life
Lacob grew up in New Bedford, MassachusettsNew Bedford, Massachusetts
New Bedford is a city in Bristol County, Massachusetts, United States, located south of Boston, southeast of Providence, Rhode Island, and about east of Fall River. As of the 2010 census, the city had a total population of 95,072, making it the sixth-largest city in Massachusetts...
. His father worked at a paper products company, his mother at a local supermarket. Lacob became a fan of the Boston Celtics
Boston Celtics
The Boston Celtics are a National Basketball Association team based in Boston, Massachusetts. They play in the Atlantic Division of the Eastern Conference. Founded in 1946, the team is currently owned by Boston Basketball Partners LLC. The Celtics play their home games at the TD Garden, which...
. When Lacob was 14, the company that employed his father was sold, firing everyone except his dad, and Lacob's family relocated to Anaheim, California
Anaheim, California
Anaheim is a city in Orange County, California. As of the 2010 United States Census, the city population was about 365,463, making it the most populated city in Orange County, the 10th most-populated city in California, and ranked 54th in the United States...
. Lacob subsequently became a fan of the Los Angeles Lakers
Los Angeles Lakers
The Los Angeles Lakers are an American professional basketball team based in Los Angeles, California. They play in the Pacific Division of the Western Conference in the National Basketball Association...
and the Los Angeles Angels of Anaheim
Los Angeles Angels of Anaheim
The Los Angeles Angels of Anaheim are a professional baseball team based in Anaheim, California, United States. The Angels are a member of the Western Division of Major League Baseball's American League. The "Angels" name originates from the city in which the team started, Los Angeles...
.
Lacob received a Bachelor's in Biological Sciences from the University of California, Irvine
University of California, Irvine
The University of California, Irvine , founded in 1965, is one of the ten campuses of the University of California, located in Irvine, California, USA...
(UCI), a Master's in Public Health (epidemiology) from University of California, Los Angeles
University of California, Los Angeles
The University of California, Los Angeles is a public research university located in the Westwood neighborhood of Los Angeles, California, USA. It was founded in 1919 as the "Southern Branch" of the University of California and is the second oldest of the ten campuses...
(UCLA) and an M.B.A. from the Stanford Graduate School of Business
Stanford Graduate School of Business
The Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
"I was a very poor kid," Lacob said. "Had nothing. I paid every dime of my education through college. Every single dime. I was the first person to graduate from college in the history of my family. Ever. I came from nothing."
Professional career
Lacob has been a partner at Kleiner Perkins, a venture capital investment firm, since 1987. He has led investments in companies in life sciences, medical technologies, Internet and energy. He has fronted investments in AutoTrader.comAutoTrader.com
AutoTrader.com is an American automotive classified Web site operated by AutoTrader.com L.L.C.; Cox Enterprises owns 75% of the company, Providence Equity Partners owns the rest. It was founded in August of 1997 and is the largest classified automotive site in the United States...
, Invisalign
Invisalign
Invisalign is a series of clear, removable teeth aligners that both orthodontists and dentists use as an alternative to traditional metal dental braces. As of April 2008, more than 730,000 patients have completed or are currently in treatment....
and NuVasive
NuVasive
NuVasive, Inc. based in San Diego, California, is a medical device company focused on the design, development, and marketing of products for the surgical treatment of spine disorders. NuVasive is a publicly traded company and is listed on the NASDAQ under the symbol NUVA.NuVasive’s product...
. Prior to joining Kleiner Perkins Mr. Lacob was an executive with Cetus Corporation
Cetus Corporation
Cetus Corporation was one of the first biotechnology companies. It was established in Berkeley, California in 1971, but conducted most of its operations in nearby Emeryville. Before merging with another company in 1991, it developed several significant pharmaceutical drugs as well as a...
(now Chiron), FHP International, a health maintenance organization, and the management consulting firm of Booz, Allen & Hamilton. In interviews he has mentioned his epidemiology degree as giving him a background in statistics that has also related to an interest in statistics in sports.
Lacob was a primary investor in the American Basketball League, a professional women's basketball league that eventually folded against its rival, the Women's National Basketball Association
Women's National Basketball Association
The Women's National Basketball Association is a women's professional basketball league in the United States. It currently is composed of twelve teams. The league was founded on April 24, 1996 as the women's counterpart to the National Basketball Association...
(WNBA). In January, 2006, Lacob became a part owner of the Celtics, where he became a co-investor with H. Irving Grousbeck
H. Irving Grousbeck
Harold Irving "Irv" Grousbeck is an entrepreneur, professor at Stanford Business School and co-owner of the National Basketball Association basketball team the Boston Celtics....
, an entrepreneur and professor at the Stanford Graduate School of Business
Stanford Graduate School of Business
The Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
. On July 15, 2010, Lacob and a group of investors agreed to buy the Warriors from Chris Cohan for $450 million which will require him to sell his minority interest in the Celtics. There were a dozen other bidders for the Warriors, including Oracle
Oracle Corporation
Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
chief executive officer Larry Ellison
Larry Ellison
Lawrence Joseph "Larry" Ellison is the co-founder and chief executive officer of Oracle Corporation, one of the world's leading enterprise software companies. As of 2011, he is the third wealthiest American citizen, with an estimated worth of $33 billion.- Early life :Larry Ellison was born in the...
, 24-Hour Fitness
24-Hour Fitness
24 Hour Fitness is the world's largest privately owned and operated fitness center chain, and third in number of clubs behind Gold's Gym and Fitness First of the UK. It currently has 425 clubs and over 20,000 employees in the U.S.A. The company has its corporate office located in San Ramon,...
founder Mark Mastrov and Texas billionaire financier David Bonderman
David Bonderman
David Bonderman is a founding partner of TPG Capital and its Asian affiliate, Newbridge Capital...
. Lacob was a Warriors season-ticket-holder for about a decade. Lacob has extensive experience with the operations of an NBA team as a part owner of the Boston Celtics and he also has mentioned his friendships with Billy Beane
Billy Beane
William Lamar "Billy" Beane III is a former Major League Baseball player and the current general manager and minority owner of the Oakland Athletics...
of the Oakland Athletics
Oakland Athletics
The Oakland Athletics are a Major League Baseball team based in Oakland, California. The Athletics are a member of the Western Division of Major League Baseball's American League. From to the present, the Athletics have played in the O.co Coliseum....
and Jeff Moorad
Jeff Moorad
Jeff Moorad is a former sports agent and is currently lead owner of the San Diego Padres and part-owner of the Arizona Diamondbacks baseball team.He is an Assyrian American...
of the San Diego Padres
San Diego Padres
The San Diego Padres are a Major League Baseball team based in San Diego, California. They play in the National League Western Division. Founded in 1969, the Padres have won the National League Pennant twice, in 1984 and 1998, losing in the World Series both times...
who have both proven that winning records are not solely related to the size of the team payroll. While the sale of the Warriors was pending league approval, Lacob was involved with personnel decision with Cohan's blessing. He approved the acquisitions of David Lee
David Lee (basketball)
David Lee is an American professional basketball player who is a power forward and center for the Golden State Warriors of the National Basketball Association . He played college basketball for the University of Florida and was selected by the New York Knicks in the first round of the 2005 NBA...
and undrafted rookie guard Jeremy Lin
Jeremy Lin
Jeremy Shu-How Lin is an American professional basketball player for the Golden State Warriors of the National Basketball Association...
, a hometown favorite. He also fired coach Don Nelson
Don Nelson
Donald Arvid "Don" Nelson is a former NBA player and head coach. He coached the Milwaukee Bucks, the New York Knicks, the Dallas Mavericks, and the Golden State Warriors....
and replaced him with assistant Keith Smart
Keith Smart
Jonathan Keith Smart is a retired American basketball player and current assistant coach for the Sacramento Kings of the NBA. He is best remembered for hitting the game-winning shot in the 1987 NCAA championship game. The shot gave the Indiana Hoosiers a 74–73 victory over the Syracuse Orangemen...
. The sale was unanimously approved by the NBA league's board of governors on November 12, 2010. Lacob and Peter Guber
Peter Guber
Howard Peter Guber is an American film producer and executive and Chairman and CEO of Mandalay Entertainment...
are the chief owners, while Lacob will handle the day-to-day operations.