Ryan Smith (businessman) explained

Ryan Smith
Birth Date:28 June 1978
Birth Place:Eugene, Oregon, U.S.
Alma Mater:Brigham Young University (BS)
Executive chairman, Qualtrics
Spouse:Ashley Smith
Children:5

S. Ryan Smith (born June 28, 1978) is an American billionaire businessman and chairman of Smith Entertainment Group. He is the executive chairman and co-founder of Qualtrics, an experience management company based in Provo, Utah.[1] [2] [3] Smith is also owner of the Utah Jazz of the National Basketball Association (NBA), the Utah Hockey Club of the National Hockey League (NHL) in Salt Lake City, and co-owner of Real Salt Lake of Major League Soccer (MLS) with sports investor David Blitzer.

Early life and education

Smith was born on June 28, 1978, in Eugene, Oregon.[4] His father, Scott Smith, worked as a university professor and his mother, Nancy Smith Hill, holds a PhD in information systems.[5] [6] While he was attending Brigham Young University's Marriott School of Business, he founded Qualtrics with his father, and his brother, Jared. During his junior year he dropped out of school to spend more time working on Qualtrics, though he returned to school and finished his degree in 2016.

Sports team ownership

Utah Jazz

On October 28, 2020, Smith bought a majority stake in the Utah Jazz of the National Basketball Association (NBA) from Gail Miller. The sale also included Delta Center, the Salt Lake City Stars of the NBA G League, and management of the Salt Lake Bees.[7] [8] [9] The sale was unanimously approved by the NBA on December 18, 2020.[10]

Real Salt Lake

In January 2022, Smith and investor David Blitzer purchased Real Salt Lake of Major League Soccer (MLS) and America First Field, which included affiliate Real Monarchs and Zions Bank Stadium, from Dell Loy Hansen.[11] [12] The pair also reestablished the Utah Royals of the National Women's Soccer League (NWSL) in 2023, with the original team becoming the Kansas City Current in 2020.[13]

Utah Hockey Club

As early as 2022, Smith and his Smith Entertainment Group (SEG) discussed moving a National Hockey League (NHL) team to Salt Lake City, either via expansion or relocation.[14] In January 2024, SEG issued a formal request for the NHL to open an expansion process, stating they were "ready to welcome the NHL" to Salt Lake City.[15] SEG officials also said that the team could play immediately at the Delta Center, and perhaps later in a new to-be-constructed arena in the Salt Lake City area.[16]

On April 18, 2024, Smith purchased the Arizona Coyotes assets (personnel, draft picks, roster) from Alex Meruelo for $1.2 billion. Meruelo retained the Coyotes brand, allowing Smith to establish a new franchise in Salt Lake City.[17]

Personal life

Smith lives in Provo, Utah, and is married with five children. He is a member of The Church of Jesus Christ of Latter-day Saints and spent two years in Mexico as a missionary.[18] In 2016, he was included in Fortune's "40 Under 40."[19] As of September 2021, Forbes estimated Smith's net worth at $1.6 billion.[20]

Notes and References

  1. Web site: Levy . Ari . Utah Jazz owner Ryan Smith made $153 million in Qualtrics IPO a day after his NBA team snagged first place . CNBC . January 28, 2021 . https://web.archive.org/web/20210128225114if_/https://www.cnbc.com/2021/01/28/utah-jazz-owner-ryan-smith-leads-qualtrics-ipo-as-team-moves-to-first.html . January 28, 2021 . en . January 28, 2021 . live.
  2. News: Semerad . Tony . Larsen . Andy . What you need to know about Ryan Smith, the new owner of the Utah Jazz . October 30, 2020 . . October 28, 2020 . https://web.archive.org/web/20201028200906/https://www.sltrib.com/news/2020/10/28/what-you-need-know-about/ . October 28, 2020 . en . live.
  3. Web site: Konrad . Alex . Utah Cloud Unicorn Qualtrics Files To Raise Up To $200M In IPO . . October 30, 2020 . https://web.archive.org/web/20190611055815/https://www.forbes.com/sites/alexkonrad/2018/10/19/utah-cloud-unicorn-qualtrics-files-to-raise-up-to-200m-in-ipo/ . June 11, 2019 . en . October 19, 2018 . live.
  4. Web site: Schoenfeld . Bruce . Ryan Smith: Utah's Jazzmaster . Sports Business Journal . June 7, 2021 . 2 August 2023.
  5. News: Raymond . Art . Qualtrics co-founder Ryan Smith honored as Entrepreneur of the Year . October 31, 2020 . . February 2, 2018 . https://web.archive.org/web/20201031221547if_/https://www.deseret.com/2018/2/2/20639390/qualtrics-co-founder-ryan-smith-honored-as-entrepreneur-of-the-year . October 31, 2020 . en.
  6. Web site: Lev-Ram . Michal . A Unicorn Founder's Big Life Hack . Fortune . October 30, 2020 . https://web.archive.org/web/20201014050022if_/https://fortune.com/longform/qualtrics-ryan-smith-40-under-40/ . October 14, 2020 . en . live.
  7. Gail Miller and Family Announce Agreement to Sell a Majority Interest in the Utah Jazz to Qualtrics Founder Ryan Smith. NBA Media Ventures, LLC. UtahJazz.com. October 28, 2020. December 21, 2020.
  8. Web site: Wojnarowski . Adrian . Sources: Jazz being sold in $1.66B agreement . . October 30, 2020 . Adrian Wojnarowski . https://web.archive.org/web/20201028215704/https://www.espn.com/nba/story/_/id/30210088/utah-jazz-sold-ryan-smith-ending-millers-three-decade-run-majority-owners . October 28, 2020 . en . October 28, 2020 . live.
  9. News: Stein . Marc . Marc Stein (reporter) . Utah Jazz to Sell Majority Stake to Tech Entrepreneur . October 31, 2020 . . October 28, 2020 . https://web.archive.org/web/20201029014347/https://www.nytimes.com/2020/10/28/sports/basketball/ryan-smith-jazz.html . October 29, 2020.
  10. Web site: NBA approves sale of Jazz to Utah technology entrepreneur . AP NEWS . January 28, 2021 . https://web.archive.org/web/20210128223039if_/https://apnews.com/article/technology-business-nba-baseball-adam-silver-68c2622d9b3b02669e75da9bb39fec94 . January 28, 2021 . December 18, 2020 . live.
  11. Web site: David Blitzer & Smith Entertainment Group to Purchase Real Salt Lake . . January 5, 2022 . rsl.com . February 1, 2022.
  12. News: McDonald . Ryan . January 6, 2022 . How the deal for Ryan Smith, David Blitzer to buy Real Salt Lake came together . Deseret News . March 2, 2022.
  13. Web site: Gonzalez . Roger . Utah Royals FC to return to NWSL under David Blitzer and Ryan Smith as owners; club will begin playing in 2024 . CBS Sports . March 12, 2023 . 30 July 2023.
  14. Web site: Fox . Derick . Utah sports mogul Ryan Smith submits bid to bring NHL to Salt Lake City . ABC4 . January 24, 2024 . January 27, 2024.
  15. Web site: Jazz's parent company initiates NHL expansion process. TSN. The Canadian Press. January 24, 2024.
  16. Web site: Salt Lake City group formally requests NHL to initiate expansion process. NHL.com. Dan. Rosen. January 24, 2024.
  17. News: Kaplan . Emily . NHL approves Coyotes sale, relocation to Salt Lake City . 19 April 2024 . ESPN . 18 April 2024.
  18. Web site: Watson . Carlos . Mormon Mad Men: Hold the Whiskey + Cigarettes . OZY . May 30, 2021 . https://web.archive.org/web/20210517181746if_/https://www.ozy.com/news-and-politics/mormon-mad-men-hold-the-whiskey-cigarettes/30106/ . May 17, 2021 . November 29, 2014 . live.
  19. Web site: Ryan Smith . Fortune . October 30, 2020 . https://web.archive.org/web/20170425000241if_/http://fortune.com/40-under-40/ryan-smith-12/ . April 25, 2017 . en . live.
  20. Web site: Ryan Smith Profile . Forbes . September 11, 2021 . https://web.archive.org/web/20210818120309/https://www.forbes.com/profile/ryan-smith/ . August 18, 2021 . en . live.

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