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Lerner Enterprises Founder And Washington Nationals Owner Ted Lerner Dies At 97



Lerner Enterprises Founder And Washington Nationals Owner Ted Lerner Dies At 97

Theodore Nathan Lerner prominently known as Ted Lerner passed away at the age of 97. He was the principal managing owner of the baseball team, Washington Nationals. Apart from this, he is also a billionaire real estate developer and founder of the real estate company Lerner Enterprises. 

The sudden demise of Lerner was quite shocking for all, but the team made the news official on Monday. A spokesperson of the team stated to the Associated Press that Lerner was diagnosed with pneumonia and died due to some complications from this at his home in Chevy Chase, Mary Land.  

Life Of Ted Lerner

Born on October 15, 1925, he belongs to an Orthodox Jewish family in Northwest Washington, D.C., U.S. After graduating from Roosevelt High School in 1944, he served in the U.S. Army as a typist during the initial part of World War II. Later, he attended George Washington University where he received a degree in Associate of Arts, and then took L.L.B. in 1949. During his days in Law school, he used to sell homes on weekends, and this paved the way for his real estate career.  

In late 2006, Lerner officially bought the ownership of the Washington Nationals, then known as the Montreal Expos, for around $450 million. The team moved from Montreal to the U.S. capital, and Lerner became the managing principal owner until 2018. Later this role was given to his son, Mark. The team’s performance under the guidance and ownership of Lerner was very poor and they even became one of baseball’s worst teams. 

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The statement released by the team announced the demise of their former owner with great sadness. It said, “The crowning achievement of his family business was bringing baseball back to the city he loved and with it, bringing a championship home for the first time since 1924.” They even added that Lerner was so happy to bring the game back to his hometown. In a Twitter post by the Washington Nationals, they captioned, “Ted Lerner is the reason baseball came back to DC after 33 years.” They even used the platform to thank Lerner for his effort in doing so and prayed for his soul to Rest in Peace. 

As of the reports given out by the media, it was said that the Lerners investigated the possibility of selling the team that is worth around $2 billion last year. And according to the estimate, it is believed that the family owns a net worth of $6.6 billion. It is believed that most of the fortune the family acquired was from their real estate business Lerner Enterprises, the largest private landowner in the Washington metropolitan area.  They own commercial, retail, residential, and hotel properties, and most importantly, the Chelsea Piers in New York City. 

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Rob Manfred, the MLB commissioner, mentioned Lerner as an extraordinary American success story in his statement. He even remembered to mention Learner’s role in bringing back baseball to prominence in the nation’s capital. Manfred added that he has great gratitude for Lerner’s influence on his hometown and the game he loved. He ended his message by saying that the Nationals have always stayed loyal to Lerner’s vision of harmony, benevolence, and civic pridefulness in Washington.

As most of you know, Lerner is a self-made billionaire who built his fame and fortune from his huge real estate business. And according to the latest estimate, he is the 378th richest person in the world. 

Ted Lerner And Wife Annette Lerner

On June 17, 1951, Lerner got married to Annette M. Lerner and the duo shared three children. Mark Lerner, his son, is the principal of the real estate company, Lerner Enterprises while his daughter Marla Lerner manages the company’s family foundation. 

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