This St. Louis native just missed buying LA Clippers
\ Send this story to a friend May 30, 2014, 8:59am CDT Updated: May 30, 2014, 9:13am CDT Michael Tipton, cc-licensed https://flic.kr/p/eXHfjc Donald Sterling has been banned for life from the NBA for racial comments he made. He's not quite a feminist, either. Joe Dwyer[1] Managing Editor- St. Louis Business Journal Email[2] | Twitter[3] | Facebook[4] | LinkedIn[5] In a frenetic bidding war, Steve Ballmer[6], former CEO of Microsoft[7], put in a winning bid of $2 billion for the NBA’s[8] Los Angeles Clippers[9]. Ballmer’s bid bested offers by investors Bruce Karsh[10] and Tony Ressler[11] and a group that included David Geffen[12] and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers[13], reports the Los Angeles Times[14]. Karsh is a former St. Louisan who now lives in Los Angeles. He is a partner in Oaktree Capital Management[15], an asset management firm specializing in alternative investment strategies. His Clayton St. Louis Property LLC bought the Ritz-Carlton hotel in Clayton for $56 million in 2012. Forbes estimated Karsh’s net worth at $1.9 billion. Karsh and Ressler submitted an offer of $1.2 billion, according to the Times. The Geffen group reportedly offered $1.6 billion. Ballmer left Microsoft earlier this year. He has an estimated net worth of $20 billion, according to Forbes. Research reports, Stocks References^ Joe Dwyer (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Facebook (www.facebook.com)^ LinkedIn (www.linkedin.com)^ Steve Ballmer (feeds.bizjournals.com)^ Microsoft (www.bizjournals.com)^ NBA’s (www.bizjournals.com)^ Los Angeles Clippers (www.bizjournals.com)^ Bruce Karsh (feeds.bizjournals.com)^ Tony Ressler (feeds.bizjournals.com)^ David Geffen (feeds.bizjournals.com)^ Los Angeles Dodgers (www.bizjournals.com)^ reports the Los Angeles Times (www.latimes.com)^ Oaktree Capital Management (www.bizjournals.com)...
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