Walk into the Kia Center in Orlando, Florida on any Magic game night and you can feel the energy — the crowd, the lights, the young talent on the floor. But behind every timeout, every trade, and every front office decision sits one of the most quietly powerful families in American sports: the DeVos family. They have owned the Orlando Magic for over three decades, and they show no signs of letting go.
So who exactly owns the Orlando Magic? The answer starts with an $85 million bet made in 1991, runs through one of the most successful business empires in American history, and continues today under the second generation of a billionaire dynasty.
Who Owns the Orlando Magic Right Now in 2026?
The direct answer is simple. The DeVos family owns the Magic through RDV Sports, Inc. The late Richard DeVos bought the franchise from William duPont III for $85 million in September 1991.
Dan DeVos serves as Chairman of the Orlando Magic and a member of the NBA Board of Governors. In this role, he focuses on long-term strategic planning for the organization and new business initiatives. He also represents ownership in business and public relations activities while working closely with the Magic’s CEO regarding business and basketball operations.
RDV Sports, Inc. is a Michigan-based corporation set up by Richard DeVos to purchase the NBA franchise. Established in 1991, its assets have included the Orlando Magic, the Orlando Solar Bears of the ECHL, and the RDV Sportsplex.
According to Forbes, the Orlando Magic is valued at $3.2 billion. That is an extraordinary return on an $85 million investment made just over 30 years ago.
Ownership and Key Stakeholders Details
| Owner / Party | Role | Stake / Detail | Key Fact |
|---|---|---|---|
| DeVos Family | Controlling Owners | 100% via RDV Sports, Inc. | Own team since September 1991; bought for $85 million |
| RDV Sports, Inc. | Ownership Vehicle | Holding company for all DeVos sports assets | Michigan-based corporation founded by Richard DeVos in 1991 |
| Dan DeVos | Chairman & NBA Governor | Active leadership since 2011 | Son of founder Richard DeVos; also leads DP Fox Ventures |
| Richard DeVos Sr. | Original Owner (deceased) | Purchased team in 1991 | Co-founder of Amway; passed away September 6, 2018 |
| Dick & Betsy DeVos | Family Shareholders | ~25% stake reported | Dick DeVos is Richard’s son; Betsy DeVos is former U.S. Secretary of Education |
| Cheri & Doug DeVos | Family Shareholders | Minority family stakes | Children of Richard DeVos Sr.; part of broader family ownership |
| Orlando Magic (Team) | NBA Franchise | Valued at ~$3.2 billion (Forbes) | Founded 1989; plays in Eastern Conference Southeast Division |
The Origin Story: Richard DeVos and the $85 Million Bet
The story of Orlando Magic ownership begins not in Florida but in a small town in Michigan — and with a business that changed the face of direct sales forever.
Richard Marvin DeVos Sr. (March 4, 1926 – September 6, 2018) was an American billionaire businessman and co-founder of Amway with Jay Van Andel.
DeVos and his school friend Jay Van Andel founded Amway in 1959 as a multi-level marketing business to distribute cleaning products. What started as two friends selling soap out of Michigan became one of the largest direct-selling companies in the world, generating billions in annual revenue and making the DeVos family one of the wealthiest dynasties in America.
Richard DeVos was the owner of the NBA team Orlando Magic, having bought the team in 1991 for $85 million. He became interested in the team after an unsuccessful effort to acquire a Major League Baseball expansion franchise for Orlando.
The purchase made the DeVos family one of the few private families in America to own an NBA franchise outright — no corporate sponsors, no investment groups, just one wealthy family buying a sports team and committing to a city.
How the Orlando Magic Was Born
Before the DeVos family ever entered the picture, the Orlando Magic was the dream of a local businessman and a city that had no business asking for an NBA team.
In the mid-1980s, Orlando businessperson Jim Hewitt decided to take a proactive approach to bringing an expansion franchise to Central Florida. Even before the NBA announced its future expansion plans, Hewitt lured away Philadelphia 76ers general manager Pat Williams to join the Orlando effort and began the process of selecting a team name.
On July 27, 1986, it was announced that the committee chose the Magic to be the new name of the Orlando franchise in the NBA. The name “Magic” alludes to the area’s biggest tourist attraction and economic engine Walt Disney World, along with its Magic Kingdom.
The NBA had originally planned on creating three new franchises in 1987, with one of the teams located in Florida. However, both Miami’s and Orlando’s bids were received so well that the league decided to award a franchise to both cities. Hewitt’s group paid $32.5 million for a team that would begin play in the 1989–1990 season.
The original ownership group included real estate developers and local investors — but it was the DeVos family who took over in 1991 and transformed the franchise into a legitimate NBA powerhouse.
Richard DeVos: The Man Behind the Magic
Richard DeVos was the 60th wealthiest person in the United States as of 2012, with an estimated net worth of $5.1 billion. By the mid-2010s, that figure had grown to $6 billion. He was not just a wealthy man who bought a sports team — he was one of the most influential figures in American business and conservative politics for over five decades.
Under his ownership, the Magic built some of the most exciting rosters in NBA history. The Shaquille O’Neal era delivered the franchise’s first NBA Finals appearance in 1995. The Dwight Howard era brought another Finals run in 2009. The team won five division championships and recorded seven 50-plus win seasons under the DeVos family’s stewardship.
On September 6, 2018, team owner Richard DeVos died aged 92 from complications from an infection. His passing marked the end of an era — but not the end of family ownership.
Dan DeVos: The Second Generation Takes Over
When Richard DeVos passed away in 2018, the family did not sell. Dan DeVos, Richard’s son, had already been serving as Chairman since 2011 — so the transition was seamless.
Dan DeVos is Chairman of RDV Sports which, in addition to the Orlando Magic, includes the Orlando Solar Bears of the ECHL, the Osceola Magic of the NBA G League, and Magic Gaming of the NBA 2K League.
In business beyond sports, Dan DeVos is Chairman and CEO of DP Fox Ventures, LLC, a diversified business development and management company with interests in real estate, fashion, transportation, sports, and entertainment. He is also a partner of CWD Real Estate Investment, co-owner and governor of the Grand Rapids Griffins of the American Hockey League, and President and CEO of Cape Eleuthera Resort and Marina in the Bahamas.
Dan DeVos represents a rare type of NBA ownership — a hands-on family steward who genuinely cares about the franchise’s long-term health rather than a distant investor watching quarterly returns.
The Broader DeVos Family Stake
The DeVos family ownership of the Magic is not held by one person — it is spread across the children of Richard DeVos Sr.
Dick DeVos (Richard’s son) and his wife Betsy DeVos, former U.S. Secretary of Education under President Donald Trump, reportedly hold approximately 25% of the Orlando Magic, worth an estimated $300 million at current valuations. Their wealth is managed through RDV Corporation, which handles the family’s broader financial empire, and Windquest Group, which oversees their personal ventures.
Together, the four children of Richard DeVos Sr. — Dan, Dick, Cheri, and Doug — maintain collective family ownership of the franchise through RDV Sports, Inc., with Dan serving as the active chairman and public face of the organization.
The Magic Today: A Young Team on the Rise
The Orlando Magic in 2026 are one of the most exciting young teams in the NBA. Built around Paolo Banchero — the 2023 NBA Rookie of the Year and a first-time All-Star — the team has shed its rebuilding label and returned to genuine playoff contention.
Under the DeVos family’s ownership, the Magic have won five division championships (1995, 1996, 2008, 2009, 2010), recorded seven 50-plus win seasons, and captured the Eastern Conference title in 1995 and 2009.
The team plays its home games at Kia Center in Orlando — previously known as Amway Center, a nod to the DeVos family’s founding business, before a naming rights change. The arena holds approximately 19,000 fans and serves as one of the premier venues in the NBA.
Frequently Asked Questions (FAQs)
Q1. Who owns the Orlando Magic in 2026?
The Orlando Magic are owned by the DeVos family through their holding company RDV Sports, Inc., with Dan DeVos serving as active Chairman since 2011.
Q2. Who originally bought the Orlando Magic?
Richard DeVos Sr., co-founder of Amway, purchased the Magic for $85 million in September 1991.
Q3. How much is the Orlando Magic worth in 2026?
Forbes values the Orlando Magic at approximately $3.2 billion.
Q4. Who is Dan DeVos?
Dan DeVos is the son of founder Richard DeVos Sr. and has served as Chairman of the Orlando Magic and a member of the NBA Board of Governors since 2011.
Q5. Does Amway own the Orlando Magic?
No. The Magic are owned by the DeVos family personally through RDV Sports, Inc. — the family founded Amway, but Amway itself does not own the team.
Q6. Does Disney own the Orlando Magic?
No. Disney is the team’s jersey sponsor but has no ownership stake in the franchise.
Q7. When were the Orlando Magic founded?
The Orlando Magic were founded in 1987 as an NBA expansion franchise and began playing in the 1989–1990 season.
Q8. What is RDV Sports, Inc.?
RDV Sports, Inc. is a Michigan-based holding company created by Richard DeVos in 1991 to own the Orlando Magic and related sports assets including the Orlando Solar Bears and Osceola Magic.
The Orlando Magic are owned by the DeVos family through their holding company RDV Sports, Inc. — the same family that co-founded Amway and turned a Michigan soap business into a global empire. Richard DeVos Sr. purchased the franchise for $85 million in September 1991. After his passing in September 2018, his son Dan DeVos took over as Chairman, continuing a family ownership that now spans more than three decades.
Forbes values the Orlando Magic at $3.2 billion — a return of nearly 38 times the original purchase price. No outside investors. No corporate parent. Just one American family that bought an NBA team, committed to a city, and built something that has become a genuine institution in Central Florida.