Quick Facts: Baltimore Orioles
| Owner | David Rubenstein (controlling owner, since 2024) |
| CEO / Managing Partner | David Rubenstein |
| Founded | 1901 (Milwaukee Brewers); Baltimore since 1954 |
| Headquarters | Baltimore, Maryland, USA |
| Ownership Type | Private |
| Stock Ticker | N/A |
| Publicly Traded | No |
Who Owns the Baltimore Orioles?
The Baltimore Orioles are owned by David Rubenstein, the co-founder of The Carlyle Group, one of the world’s largest private equity firms. Rubenstein completed his acquisition of a controlling interest in the Baltimore Orioles in 2024 in a landmark deal valued at approximately $1.725 billion, making it one of the largest transactions in the history of Major League Baseball. The purchase ended the long and turbulent ownership era of the Angelos family, which had controlled the franchise since Peter Angelos purchased it in 1993. Rubenstein, a Baltimore native with deep roots in the city, has spoken emotionally about the personal significance of owning the team he grew up watching.
The sale from the Angelos family had been years in the making. Peter Angelos — a legendary Maryland trial lawyer who made a fortune suing asbestos manufacturers — had been one of the most controversial owners in recent MLB history, known for both his fierce advocacy for the Orioles and his feuds with executives, managers, and eventually his own sons over the team’s direction. John Angelos, Peter’s son, had effectively taken operational control of the franchise in the years before the sale. David Rubenstein emerged as the winning bidder, and Major League Baseball approved the transaction in 2024.
David Rubenstein is a co-founder of The Carlyle Group, which he established in Washington, D.C. in 1987 with William Conway and Daniel D’Aniello. The firm grew into one of the most powerful private equity firms in the world, with hundreds of billions of dollars in assets under management. Rubenstein is known as a passionate American patriot and has made multiple high-profile philanthropic gestures, including donating to restore the Washington Monument, the Lincoln Memorial, and buying and publicly displaying original copies of the Magna Carta. He also hosts interview programs on Bloomberg Television and PBS, making him one of the most publicly visible figures in American finance.
About David Rubenstein
David Rubenstein was born in Baltimore, Maryland in 1949, grew up attending Orioles games, and built one of the most successful careers in American private equity. He co-founded The Carlyle Group in 1987 and turned it into a global investment powerhouse with offices on six continents and investments spanning defense, technology, health care, real estate, and consumer products. He has stepped back from day-to-day Carlyle management in recent years while remaining a key figure in the firm. His net worth is estimated at over $4 billion. Rubenstein’s acquisition of the Orioles represents a return to his hometown and a fulfillment of what he has described as a lifelong dream.
Key Ownership Highlights
- David Rubenstein completed the Orioles purchase in 2024: Rubenstein’s acquisition of the Baltimore Orioles for approximately $1.725 billion was finalized in 2024, one of the largest sales in MLB history. Rubenstein, a Baltimore native and co-founder of The Carlyle Group, has described the purchase as deeply personal.
- The Angelos family owned the Orioles from 1993 to 2024: Maryland trial lawyer Peter Angelos purchased the Orioles in 1993 for approximately $173 million. His tenure was marked by both competitive periods (the franchise’s last playoff appearances in the late 1990s) and prolonged rebuilding phases, including one of the longest losing streaks in baseball history.
- The Orioles made a dramatic return to contention: Under executive VP and GM Mike Elias (hired in 2018), the Orioles rebuilt their system from the ground up after several historically bad seasons, producing a wave of elite young talent including Adley Rutschman, Gunnar Henderson, and Jackson Holliday that made Baltimore a genuine contender by 2023-2024.
- Camden Yards is an iconic ballpark: The Orioles play at Oriole Park at Camden Yards, which opened in 1992 and is widely credited with launching the retro-ballpark movement in Major League Baseball. Its warehouse backdrop, intimate dimensions, and downtown Baltimore setting make it one of baseball’s most beloved venues.
- David Rubenstein is a major American philanthropist: Beyond his business success, Rubenstein has made iconic philanthropic contributions, donating to restore national landmarks including the Washington Monument, the Lincoln Memorial charters, and the Iwo Jima Memorial, cementing his reputation as one of the most prominent American civic philanthropists.
Frequently Asked Questions
Who owns the Baltimore Orioles?
The Baltimore Orioles are owned by David Rubenstein, co-founder of The Carlyle Group private equity firm, who completed his approximately $1.725 billion acquisition of the franchise in 2024. Rubenstein is a Baltimore native who grew up attending Orioles games.
Are the Baltimore Orioles publicly traded?
No. The Baltimore Orioles are a privately held franchise and are not listed on any public stock exchange.
Who owned the Orioles before David Rubenstein?
The Orioles were owned by the Angelos family, led by Maryland trial attorney Peter Angelos, who purchased the franchise in 1993 for approximately $173 million. Peter Angelos’s son John Angelos had effective operational control in the years before the sale to Rubenstein was completed in 2024.
What is David Rubenstein known for beyond the Orioles?
David Rubenstein is co-founder of The Carlyle Group, one of the world’s largest private equity firms, which he established in Washington, D.C. in 1987. He is also known for philanthropic donations to restore major American landmarks and for hosting interview programs on Bloomberg Television and PBS.
