In the world of professional sports and high-stakes technology, few names carry as much weight in the Beehive State as Ryan Smith. As the driving force behind the Smith Entertainment Group, Ryan Smith has transitioned from a scrappy tech entrepreneur to a titan of industry.
But the question on everyone’s mind—from the tech corridors of Silicon Valley to the hardwood floors of the Delta Center—is: What is Ryan Smith’s net worth, and how exactly did he build such a massive fortune?
As of 2024, Ryan Smith’s net worth is estimated at $2.2 billion. While many billionaires are synonymous with inheritance or Wall Street speculation, Smith’s path to the "Three Comma Club" is a masterclass in patience, family collaboration, and a deep-seated passion for his community.
The Foundation: Starting Qualtrics in a Provo Basement
To understand the current Ryan Smith net worth, you have to look back to 2002. Long before he was rubbing shoulders with NBA stars, Ryan was a student at the Marriott School of Business at Brigham Young University (BYU).
While most college students were focused on exams, Ryan, along with his father Scott, his brother Jared, and friend Stuart Orgill, was building the foundation of what would become a global tech powerhouse: Qualtrics.
The company didn't start in a glass-walled office in San Francisco; it started in a basement in Provo, Utah.
The Early Struggle and Pivot
Initially, Qualtrics faced significant rejection from the corporate world. However, Smith and his team didn't give up.
They pivoted their strategy to target academic institutions and organizations that required custom web survey software.
- 2006 Milestone: By 2006, Qualtrics had grown to 15 employees and hit its first $1 million in revenue.
- Corporate Success: With proof of concept in the academic world, Smith took the software back to corporations. This time, the reception was far warmer, leading to rapid scaling.
The $8 Billion Turning Point: The SAP Acquisition
The defining moment for Ryan Smith’s net worth occurred in 2018. Just days before Qualtrics was set to go public, the German software giant SAP acquired the company for a staggering $8 billion.
This deal was a watershed moment for the Utah tech scene, often referred to as "Silicon Slopes." The acquisition turned the Smith family into instant billionaires.
When SAP later spun Qualtrics out as a stand-alone public company in January 2021, Ryan doubled down on his belief in the product, purchasing an additional $120 million in stock.
All That Jazz: Expanding into Professional Sports
Once his billionaire status was solidified, Ryan Smith turned his attention to his lifelong passion: sports. Smith is known for being "all-in" and hands-on, a trait that has defined his tenure as an owner.
The Utah Jazz
In October 2020, through the Smith Entertainment Group, Ryan and his wife Ashley purchased a majority stake in the Utah Jazz.
The $1.66 billion deal was comprehensive, including:
- The Utah Jazz (NBA)
- The Salt Lake City Stars (NBA G League)
- Vivint Arena (now the Delta Center)
- Management of the Salt Lake Bees (Minor League Baseball)
Since Smith took over, the valuation of the Utah Jazz has soared. Under his leadership, the franchise's value increased by 30% in just one year, reaching an estimated $2.25 billion.
MLS and the NHL
Smith didn't stop with basketball. In January 2022, he became the majority owner of Real Salt Lake (MLS). More recently, his portfolio expanded even further into the world of professional hockey with the Utah Hockey Club. His vision is clear: turning Utah into a premier destination for professional sports.
Personal Roots: The Oregon and BYU Connection
While Ryan Smith is a Utah icon, his story began in Eugene, Oregon, on January 19, 1978. Interestingly, he was born in the same hospital as NBA legend Danny Ainge.
His father, Scott, was a professor at the University of Oregon before the family moved to Utah for a professorship at BYU.
Smith’s loyalty to BYU is deeply personal. He often credits the university for supporting his family during their most difficult times. When his father was battling stage four throat cancer, BYU’s support allowed him to continue working while the family launched Qualtrics from home.
Today, you can often find Ryan and his family in the "Hollywood floor seats" at the Marriott Center, supporting BYU athletics. For Smith, donating to universities is more than just a tax write-off; it’s a way to ensure the institutions that helped him thrive continue to support the next generation.
A Portfolio of Success: Breaking Down the Assets
While the $8 billion sale of Qualtrics is the primary driver of Ryan Smith’s net worth, his wealth is diversified across several high-value assets:
- Qualtrics Stock: After the sale, Smith maintained a significant stake, including his $120 million purchase in 2021.
- NBA/MLS/NHL Ownership: Majority stakes in three major professional sports franchises.
- Real Estate: A notable $35 million home in Newport Beach, California.
- Smith Entertainment Group: The umbrella organization for his various business and sports ventures.
Philanthropy: Giving Back to the Community
Ryan Smith’s impact isn't just measured in dollars; it's measured in lives changed.
He and his wife Ashley are deeply committed to charitable causes through The Ryan and Ashley Smith Foundation.
- 5 For The Fight: This initiative has raised over $27 million for cancer research.
- Primary Children’s Hospital: Smith made a $20 million donation to support pediatric healthcare.
- Education for All: In 2021, Smith announced that for every Utah Jazz win, the organization would provide a four-year college scholarship to an underrepresented or minority student.
- Community Support: He is a frequent contributor to the Utah Food Bank, the Huntsman Cancer Foundation, and the Boys & Girls Clubs of America.
Conclusion
Ryan Smith’s net worth journey is a testament to the power of the "long game." He didn't chase a quick exit; he built a company in a basement for over a decade before finding global success. Today, he is using that success to reshape the cultural and athletic landscape of Utah.
From his roots in Oregon to the heights of the NBA, Ryan Smith remains a "hands-on" leader who prioritizes community, family, and innovation.
As he continues to expand his empire into the NHL and beyond, his influence on both tech and sports is only set to grow.
Frequently Asked Questions (FAQs)
How much is Ryan Smith's net worth?
As of 2024, Ryan Smith’s net worth is estimated to be $2.2 billion. This wealth was primarily generated through the sale of Qualtrics to SAP for $8 billion and his subsequent investments in professional sports teams.
How did Ryan Smith become a billionaire?
Ryan Smith became a billionaire after co-founding Qualtrics in 2002. The company specialized in experience management software and was sold to SAP in 2018 for $8 billion.
What sports teams does Ryan Smith own?
Ryan Smith is the majority owner of the Utah Jazz (NBA), Real Salt Lake (MLS), and the Utah Hockey Club (NHL). His sports holdings are managed through the Smith Entertainment Group.
What is the valuation of the Utah Jazz?
Under Ryan Smith's leadership, the Utah Jazz's valuation has increased to approximately $2.25 billion, a 30% rise from the previous year.
