Quick Facts: Orlando Magic (NBA)
| Owner | DeVos Family (RDV Sports, Inc.) |
| Chairman | Dan DeVos |
| Original Owner | Richard DeVos (acquired 1991, d. 2018) |
| Acquisition Price | $85 million (1991) |
| Ownership Type | Private (family-owned) |
| League | NBA (Eastern Conference, Southeast Division) |
| Home Arena | Kia Center (formerly Amway Center), Orlando, Florida |
| Founded | 1989 |
| Publicly Traded | No |
Who Owns the Orlando Magic?
The Orlando Magic are owned by the DeVos family, one of America’s wealthiest and most philanthropically active business dynasties, through their holding entity RDV Sports, Inc. Dan DeVos serves as Chairman of the Orlando Magic. The family acquired the team in 1991 when co-founder of Amway Corporation Richard DeVos purchased the franchise for $85 million. Richard DeVos passed away in September 2018, and the team has since been led by the DeVos family under Dan DeVos’s chairmanship. The Magic play home games at Kia Center (formerly Amway Center) in Orlando, Florida. The franchise is privately held and is not listed on any stock exchange.
About the DeVos Family
The DeVos family built their fortune through Amway (now Amway Global), the direct-selling consumer goods company that Richard DeVos co-founded with Jay Van Andel in 1959 in Ada, Michigan. Amway grew into one of the largest direct-sales companies in the world, generating tens of billions in annual revenue. The DeVos family is well-known for extensive philanthropy, including major gifts to education, medical research, and arts institutions in Michigan and Florida. The family’s political engagement has also been prominent — Richard DeVos’s daughter-in-law, Betsy DeVos, served as US Secretary of Education from 2017 to 2021 under President Donald Trump. Dan DeVos, who leads the Magic, is Richard DeVos’s son.
Key Ownership Highlights
- The Orlando Magic are owned by the DeVos family through RDV Sports, Inc. Dan DeVos serves as Chairman.
- Richard DeVos (co-founder of Amway) purchased the Magic in 1991 for $85 million. Forbes valued the franchise at approximately $3.2 billion as of recent estimates.
- Richard DeVos passed away in September 2018. The DeVos family has continued ownership under Dan DeVos’s leadership.
- The Magic play home games at Kia Center (renamed from Amway Center) in downtown Orlando, Florida.
- The franchise is entirely privately held — no shares are publicly traded.
Frequently Asked Questions
Who owns the Orlando Magic?
The Orlando Magic are owned by the DeVos family through their entity RDV Sports, Inc. Dan DeVos serves as Chairman. The family acquired the team in 1991 when Richard DeVos (co-founder of Amway) purchased it for $85 million.
Is the Orlando Magic publicly traded?
No. The Orlando Magic is a privately held NBA franchise owned by the DeVos family. It is not listed on any stock exchange.
Who is Dan DeVos?
Dan DeVos is the son of Richard DeVos (Amway co-founder) and serves as Chairman of the Orlando Magic. He leads the DeVos family’s ownership of the team following his father’s passing in 2018.
What arena do the Orlando Magic play in?
The Orlando Magic play home games at Kia Center (formerly Amway Center) in downtown Orlando, Florida. The arena opened in 2010 and was renamed Kia Center in 2023.