What is Wyc Grousbeck’s Net Worth?
Wyc Grousbeck is an entrepreneur and venture capitalist who has a net worth of $1 billion. Wyc Grousbeck became famous as the majority owner and governor of the NBA’s Boston Celtics. He purchased the team in 2002 for $360 million through Boston Basketball Partners LLC. In June 2023, a few weeks after the Celtics won the NBA Championship, Grousbeck announced he was putting the Celtics up for sale. At the time the team sale was announced, the estimated potential value was $5 billion.
Among his other ventures, he co-founded the growth equity partnership Causeway Media Partners, which has invested in such sports media companies as Zwift, SeatGeek, and FloSports. Elsewhere, Grousbeck served as the chairman of the research and clinical hospital Massachusetts Eye and Ear.
Early Life and Education
Wycliffe Grousbeck was born on June 13, 1961 in Worcester, Massachusetts to Sukey and entrepreneur Irving. Growing up, he and his siblings were taken by their father to many Boston Celtics and Red Sox games, instilling in him a love for sport. Grousbeck was educated at the Noble and Greenough School in Dedham, Massachusetts before he enrolled at Princeton University. At Princeton, he rowed on the undefeated 1983 lightweight crew team that captured the Ivy League and national rowing championships. After graduating with his Bachelor of Arts degree in history, Grousbeck went to law school at the University of Michigan, earning his Juris Doctor in 1986. He went on to obtain his Master of Business Administration degree from Stanford University in 1992.
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Business Career
Grousbeck began his business career at the venture capital firm Highland Capital Partners, where he was a managing partner during his seven-year tenure. After that, in 2002, he co-founded the private investment group Boston Basketball Partners in order to purchase the NBA’s Boston Celtics with his father. The transaction was completed for around $360 million. Grousbeck became the majority owner and governor of the team, with other prominent owners including Stephen Pagliuca, Robert Epstein, and David Bonderman. The Celtics went on to win their 17th NBA championship in 2008, and their 18th in 2024. In the summer of the latter year, Boston Basketball Partners announced its intention to sell the franchise.
Among his other business activities, Grousbeck became the chairman of Massachusetts Eye and Ear in 2010. For the research and clinical hospital, which specializes in blindness and deafness research, he spearheaded a major capital campaign that raised $250 million. This resulted in MEE joining the Mass General Brigham health care system. Elsewhere, Grousbeck co-founded the growth equity partnership Causeway Media Partners in 2013. The firm manages over $300 million in assets, investing in such sports media companies as Zwift, FloSports, and SeatGeek.
Personal Life
While attending law school at the University of Michigan, Grousbeck met fellow student Corinne, whom he married in 1986. The couple had a daughter named Kelsey and a son named Campbell, and resided in California. Campbell was born with a rare genetic eye disease that caused blindness, so the family eventually moved to the Boston area so he could attend the renowned Perkins School for the Blind. Due to his son’s condition, Grousbeck has been significantly involved in charitable work to help those with eye diseases.
After 28 years of marriage, Grousbeck and his first wife divorced in 2014. He subsequently began dating businesswoman Emilia Fazzalari, whom he married in early 2017. With the help of some fellow NBA owners, the two went on to launch the company Cincoro Tequila in 2019. Fazzalari became the CEO of the company.
Extended Family
Feeling that his family life could be turned into the premise for a television sitcom, Grousbeck pitched the idea to his friend Tom Werner, a television producer, in 2023. The result was the NBC sitcom “Extended Family,” starring Jon Cryer, Donald Faison, Abigail Spencer, Sofia Capanna, and Finn Sweeney. Grousbeck, his wife Emilia Fazzalari, and her ex-husband George Geyer were all involved in the show’s casting, scripts, set design, and costumes. “Extended Family” was ultimately short-lived, running for 13 episodes before it was canceled in the spring of 2024.
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