How Did the Maloof Family Make Their Money?
Real Housewives of Beverly Hills fans knows businesswoman Adrienne Maloof has money — her lavish wardrobe and massive backyard parties are testament enough to that — but where did all the petite fashionista’s cash come from? We’ve got all the dish on the Maloof family fortune!
The Maloofs have been involved in various businesses over 100 years, and it’s long been a group effort. The Maloof family includes Adrienne’s parents — the late George Maloof Sr. and her mother, Colleen — and her four brothers Joe, Gavin, George Jr., and Phil.
The son of Lebanese immigrants who owned a general store in New Mexico in 1892, George Maloof Sr. took over the family’s Albuquerque beer-distributing business, Quality Imports, after his father had a heart attack. He eventually became New Mexico’s Coors beer distributor. In 1979, Maloof Sr. bought the Houston Rockets basketball team but died a year later. The Maloofs sold the team in 1982 but continued to expand its other businesses.
Now, Maloof Sr.’s children are carrying on the sporting tradition: Joe and Gavin have owned NBA team the Sacramento Kings since 1998. That same year, the Maloofs acquired its WNBA sister team, the Sacramento Monarchs, which they owned until the team folded in 2009. The two brothers also founded the Maloof Money Cup in 2008, a professional and amateur skateboarding competition held annually in Orange County, New York, and South Africa.
This wealthy brood isn’t just into sports: they are also in the hospitality business. In 1994, the Maloofs built the Fiesta Casino Hotel for $10 million in North Las Vegas. In 2000, they sold the operating interest for $185 million. Now the Maloofs own the illustrious Palms Hotel and Casino in Las Vegas (which they acquired in 2001); they also have two entertainment business ventures, Maloof Productions and Maloof Music. Maloof Productions focuses on TV and film and produced E!’s Living Lohan and Spike TV’s Bullrun. Maloof Music is a joint venture between Interscope/Geffen Records/A&M Records and Maloof Productions.
In addition to their sports and entertainment properties, the Maloofs have a gaming business, are one of the largest single shareholders in Wells Fargo Bank, and once had sole proprietorship distribution rights for Boston Beer Company, Coors, Corona, Guinness, Heineken, Miller, Red Bull, and Tecate products in New Mexico.
The Maloofs have also appeared in music videos (Lil Wayne’s “Lollipop” and Ludacris’ “What Them Girls Like”) and had stints on TV shows such as Las Vegas and, of course, the Real Housewives of Beverly Hills.
Now Adrienne can add her ‘Maloof Hoof’ shoe line to her own list of business ventures. What will they think of next?