The Baltimore Orioles are a professional Major League Baseball (MLB) franchise based in Baltimore, Maryland, USA. They compete in the American League (AL) East Division and play their home games at Oriole Park at Camden Yards. The team has a rich history, tracing its roots back to the Milwaukee Brewers in 1901 before becoming the St. Louis Browns and eventually relocating to Baltimore in 1954.
The Orioles are known for their passionate fan base, historic ballpark, and a competitive record in recent seasons, including multiple AL East division titles. As of the 2026 season, the club continues to build on its success.
Ownership Status of the Baltimore Orioles
The Baltimore Orioles are privately owned and are not publicly traded. Control of the franchise lies with a group of investors led by David Rubenstein, a billionaire private equity executive and Baltimore native.
Current Ownership Group
| Owner / Entity | Role | Notes |
|---|---|---|
| David Rubenstein | Principal Owner & CEO | Leads the ownership group; Baltimore native and co-founder of Carlyle Group. |
| Michael Arougheti | Co-Owner | CEO & co-founder of Ares Management. |
| Mitch Goldstein | Co-Owner | Co-Head of Ares Management Credit Group. |
| Michael Smith | Co-Owner | Co-Head of Ares Management Credit Group. |
Note: The Orioles ownership includes a broader group of investors and partners, some of whom also participate in team activities and local community efforts.
How Ownership Changed
For much of the past three decades, the Angelos family—particularly Peter Angelos—owned the Orioles. Peter Angelos purchased the team in 1993 and maintained majority control for over 30 years. His son, John P. Angelos, managed day-to-day operations in later years.
In early 2024, a major sale was agreed upon that transferred control of the Orioles to David Rubenstein and his investment group. The deal was officially approved by Major League Baseball owners in March 2024, marking one of the most significant ownership transitions in team history.
Initially, Rubenstein’s group acquired a 40% controlling stake, with plans to purchase additional shares from the Angelos family and other minority stakeholders. By August 2024, Rubenstein’s consortium completed the acquisition of the remaining shares, giving them full ownership of the Orioles franchise.
About David Rubenstein
David Mark Rubenstein (born August 11, 1949) is an American lawyer, businessman, and philanthropist. He is best known as the co-founder and co-chairman of The Carlyle Group, a major private equity firm based in Washington, D.C.
Rubenstein grew up in Baltimore, making his ownership of the Orioles a meaningful homecoming. His purchase of the team in 2024, valued at approximately $1.7 billion, made him one of the newest principal owners in MLB.
In addition to his business achievements, Rubenstein has been active in philanthropy and civic endeavors, serving in leadership roles with institutions such as the Council on Foreign Relations and the National Gallery of Art.
David Rubenstein Net Worth
As of 2026, David Rubenstein has an estimated net worth of around $4 billion. He built his wealth as the co-founder and co-chairman of The Carlyle Group, one of the world’s largest private equity firms, which manages hundreds of billions of dollars in assets globally. In addition to his investment earnings, Rubenstein is well known for his philanthropy, having donated hundreds of millions of dollars to historic landmarks, museums, universities, and public institutions across the United States. His financial strength played a key role in his ability to acquire the Baltimore Orioles in 2024, making him one of the wealthier owners in Major League Baseball.
FAQs
1. Who currently owns the Baltimore Orioles?
The Baltimore Orioles are owned by a group led by David Rubenstein, who serves as the principal owner and CEO.
2. Is the Orioles team publicly traded?
No, the Orioles are privately held and not traded on any public stock exchange.
3. When did David Rubenstein become the owner?
Rubenstein’s group assumed control in March 2024, with full ownership completed by August 2024.
4. Who owned the Orioles before Rubenstein?
The Angelos family, led by Peter Angelos, owned the team from 1993 until the sale in 2024.
Baltimore Orioles Official Site
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