Owners/Investment firms
Rick Schnall
Rick Schnall, 56 or 57, is co-president of Clayton, Dubilier & Rice, a private-equity firm whose latest completed main fund is $26B. He has co-controlled the Charlotte Hornets with Gabe Plotkin since August 2023; no net worth estimate exists.
The businesses in detail
| Company | What it does | Size | Role and stake |
|---|---|---|---|
| Clayton, Dubilier & Rice (private) | Raises funds from big investors to buy, improve and sell companies | Fund XII is $26B (2022); Fund X closed at $10B (2017); another $26B fund was being prepared in January 2026 | Joined 1996; co-president; leads healthcare, financial services and technology; stake not published |
| Hornets Sports & Entertainment | Runs the Hornets, the Greensboro Swarm and Spectrum Center | Forbes team value $4.4B (Oct 2026); revenue $367M, operating income $90M (2025-26) | Co-chairman since 3 August 2023; stake not published |
How the main business makes money. The firm, known as CD&R, raises multi-year funds from pension funds and other large investors. It uses that money, often with borrowed money on top, to buy whole companies or units carved out of bigger groups. It works on their operations and sells them years later. CD&R keeps a yearly management fee and a share of the gains. Schnall owns no company outright; his wealth is his partnership interest in CD&R and its funds.
Biggest deals.
- Sources do not say which of these CD&R deals he led personally.
- 2005: Hertz, bought with partners for $15B.
- August 2023: Focus Financial Partners, $7B.
- November 2024: R1 RCM, bought with TowerBrook for $8.9B.
- February 2025: agreed to buy 50% of Opella, the consumer-health unit of Sanofi.
- November 2025: agreed to buy Sealed Air at a value of $10.3B including debt.
Career path
- Before 1996
Investment banker at Smith Barney and at Donaldson, Lufkin & Jenrette
- 1996
Joins CD&R
- 2003
Launches the CD&R healthcare practice, which he still oversees
- 2015
Becomes an Atlanta Hawks minority owner and alternate governor in the group led by Tony Ressler
- 2017
Sits on the Hawks panel that hires general manager Travis Schlenk
- June 2023
Deal to buy Hornets control from Michael Jordan is announced on 16 June
- Summer 2023
Sells his Hawks stake to a group that includes existing Hawks owners
- 3 August 2023
Hornets deal closes at about $3B; he becomes co-chairman and governor
- 26 March 2025
Breaks ground on a new Hornets practice centre in Uptown Charlotte
Teams and sports assets
Owns now 4
- teamCharlotte HornetsNBA · Basketball · USSince 2023 · co-controlling with Gabe Plotkin; size not published · control bought at about a $3B valuation
- teamGreensboro SwarmNBA G League · Basketball · USSince 2023 · through Hornets Sports & Entertainment · came with the Hornets
- teamHornets Venom GTNBA 2K League · Esports · USSince 2023 · through Hornets Sports & Entertainment · came with the Hornets
- arenaSpectrum Center operating rightsNBA · Basketball · USSince 2023 · operator; arena owned by the City of Charlotte · came with the Hornets
Owned before 1
- teamAtlanta HawksNBA · Basketball · USSince 2015 to 2023 · minority; size undisclosed
Other investments and assets
- Companies and funds: Nothing was found beyond his interest in CD&R and its funds.
- Property: The Hornets are building the Novant Health Performance Center, a six-storey practice centre of more than 160,000 sq ft. It is due to open during the 2026-27 season.
- Family in the business: No family members active in the Hornets were found.
Giving and politics
- He sits on the board of the Michael J. Fox Foundation for Parkinson's Research.
- He sits on the CD&R Foundation board.
- At closing, the new owners named community giving as one of five priorities for the Hornets.
How they run their teams
- He and Plotkin share control. The NBA governor's seat rotates every five years, and Schnall took the first turn.
- They kept the coach and general manager at first, promising a full review.
- Later Mitch Kupchak moved to an advisory role and president Fred Whitfield stepped down.
- More than 20 investors hold stakes, and the owners said they wanted local voices on the board.
- He hosted a team dinner at the 2024 Summer League.
What they have said
- The single goal is to build the leading franchise in the NBA.
- A stand-alone practice facility is essential for the team.
- He wants a team that contends every year, a view shaped by eight years inside Hawks ownership.
- Jordan told them about a year before closing that he saw them as basketball people who should buy the team.
- The owners intend to keep the Hornets consistently profitable and to preserve community ties while building a winner.
Little-known facts
- Wikipedia says he is a nephew of activist investor Carl Icahn.
- NBA owners approved the Hornets sale 29-1. The only no vote came from James Dolan of the Knicks.
- His co-investors include rapper J. Cole and country singer Eric Church.
- The owners toured about six other NBA practice facilities before designing their own.
Quick answers
What is Rick Schnall's net worth?
There is no published Forbes or Bloomberg estimate of Rick Schnall's net worth.
What NBA team does Rick Schnall own?
He has co-controlled the Charlotte Hornets with Gabe Plotkin since August 2023. Forbes values the Charlotte Hornets at $4.4B (October 2026).
Where does Rick Schnall's money come from?
Rick Schnall, 56 or 57, is co-president of Clayton, Dubilier & Rice, a private-equity firm whose latest completed main fund is $26B.
How old is Rick Schnall?
Rick Schnall is 56.
Open questions
- His net worth, his Hornets stake and his share of CD&R were not found.
- CD&R assets under management and staff numbers were not found.
- The size and price of the Hawks stake he sold in 2023 are undisclosed.
- The arena renovation is $275M per Wikipedia and $245M per Forbes.
- Forbes lists Chris Shumway as a third owner; his role was not found.
- His political donations were not found.