Marc Lore

The businesses in detail

How the main business makes money. Wonder owns small kitchens that each cook many restaurant menus. Customers pay for meals delivered, collected or eaten in. Wonder also earns from Blue Apron meal kits and Grubhub's delivery commissions. In July 2026 Lore said Wonder would be ready to list on the stock market early in 2027; he had earlier aimed for 2028.

Biggest deals.

• 2011 and 2016: sold Quidsi to Amazon for $545M, then Jet.com to Walmart for $3.3B.
• 2023-2025: Wonder bought Blue Apron for $103M, Grubhub for $650M and Sweetgreen's robotic kitchen technology for $186M.
• Wonder funding: $700M in March 2024, $600M in May 2025 and more than $650M at a $9B valuation in July 2026. By February 2025 he had put in about $300M himself.
• 2021-2025: bought the Timberwolves and Lynx with Alex Rodriguez at a $1.5B valuation.
• 21 August 2026: agreed to sell most of his stake at a $4.5B valuation, pending NBA approval.

Career path

1. 1993

   Starts in banking at Bankers Trust

2. 1999-2001

   Co-founds The Pit, an online market for sports cards; sells it to Topps for $5.7M

3. 2005

   Co-founds Quidsi, first named 1800DIAPERS; sells it to Amazon in 2011

4. 2014-2016

   Founds Jet.com and sells it to Walmart

5. 2016-2021

   Runs Walmart's US online business; founds Wonder in 2018

6. 2021

   Signs to buy the Timberwolves and Lynx; announces Telosa

7. 2025

   NBA approves the purchase on 24 June; becomes governor

8. 2026

   Agrees on 21 August to sell control to Marc Stad

Teams and sports assets

Owns now 5

• teamMinnesota TimberwolvesNBA · basketball · USSince 2021 · about 25% (Forbes estimate, Feb 2025); agreed Aug 2026 to sell most of it to Marc Stad, pending NBA approval · $1.5B valuation with the Lynx; agreed sale at a $4.5B valuation
• teamMinnesota LynxWNBA · basketball · USSince 2021 · not disclosed · Included in the $1.5B valuation
• teamIowa WolvesG League · basketball · USSince 2021 · not disclosed · Included in the $1.5B valuation
• sports businessT-Wolves Gamingesports · USSince 2021 · not disclosed · Included in the $1.5B valuation
• sports businessJumpticketing software · USSince 2025 · co-founder with Alex Rodriguez · Raised $23M in August 2025

Owned before 1

• sports businessThe Pitsports-card marketplace · USSince 1999 to 2001 · co-founder · Sold to Topps for $5.7M

Other investments and assets

• Companies and funds: Archer Aviation, an electric air-taxi maker: lead early investor, with a further $10M in February 2021. VCP, a venture firm started with Rodriguez in 2021 with $50M of their own money.
• Property: Telosa, his proposal for a new desert city of 5 million people by 2050. No site purchase is reported.
• Family in the business: None reported.

Giving and politics

• Took part in the Run Rich Run fundraiser for St. Jude Children's Research Hospital; the 2021 event raised over $1.7M.
• Forbes gives him a philanthropy score of 1, its lowest band.
• Political donations or party affiliation: not found.

How they run their teams

• He and Rodriguez bought from Glen Taylor in stages; the NBA approved on 24 June 2025 after arbitration. See the Minnesota Timberwolves page.
• He spent heavily: Forbes shows a $41M operating loss for 2024-25. He said he paid about $100M in one season in luxury tax, the league's charge on high payrolls.
• By his account, he and Rodriguez took big decisions jointly.
• His stated reason for selling control is to concentrate on taking Wonder public. He would keep a limited share.

What they have said

• He argues that owning the kitchen, the cooking and the delivery makes Wonder hard to copy.
• Having sold to Amazon and Walmart, he will not sell Wonder at any price and wants to list it instead.
• He said he and Rodriguez paid the seller's asking price and had no plans to sell. He agreed to sell control in August 2026.
• He runs the team like a start-up founder; new owners have a clean slate to rethink it.
• With Stad and Rodriguez, he said the August deal develops an existing partnership and that titles remain the priority.

Little-known facts

• He qualified for the US national bobsled team in 1996 but stayed in banking.
• A Bloomberg headline cited on Wikipedia put his 2017 Walmart pay at $244M.
• Wonder's 2023 switch from delivery vans to shopfronts cost about $80M and briefly cut revenue to almost nothing.