Charles Dolan Net Worth
Charles Dolan is an American billionaire with a net worth of $5 billion. He made his fortune as the founder of Cablevision, which was sold in 2016 for $17 billion. Dolan’s family also controls The Madison Square Garden Company, which owns the New York Knicks, New York Rangers, MSG arena, and related television networks.
Dolan began his career by syndicating sports clips with his wife Helen. He later founded Sterling Cable, which operated cable companies in the New York area. He sold his Manhattan Cable division to Time Inc in the early 1970s and renamed his Long Island division Cablevision Systems. Around this same time, Dolan founded Home Box Office, which he later sold to Time Life. By the early 2000s, Cablevision had millions of subscribers across the US.
In 1994, Cablevision bought 50% of the Madison Square Garden company from Viacom. In 1997, the company acquired the remaining 50% to gain full ownership of MSG. In 2010, Cablevision spun off MSG’s assets, including ownership of the Knicks, Rangers, Liberty, and the arena itself, into a new company called The Madison Square Garden Company.
Charles Dolan sold Cablevision in 2016 for $17.7 billion.
