Bloomberg Billionaires Index

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# 230 Rocco Commisso $7.18B

Random fact: Bought Italian soccer team Fiorentina in June 2019.

Overview

Commisso is founder, chairman and chief executive of Mediacom Communications, the fifth-largest cable television provider in the U.S. The company operates mainly across midwestern and southern states, and reported revenue of $2 billion in 2018. He also owns ACF Fiorentina and the New York Cosmos soccer teams.

As of :
Last change +$7.08M ( +0.1%)
YTD change +$3.22B ( +81.3%)
Industry Media & Telecom
Biggest asset Mediacom
Citizenship United States
Age 69
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Rocco Commisso's net worth of $7.18B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Commisso's fortune is derived from Mediacom Communications, the fifth-largest cable television provider in the U.S., according to an October 2019 press release. A 2015 company filing states that the billionaire is its sole shareholder.

The company is valued using its 2018 financial results and the enterprise value-to-Ebitda (earnings before interest, taxes, depreciation and amortization) multiple of three publicly traded peer companies: Comcast, Cable One and Charter Communications. Cable One replaced Dish Network as a peer on Nov. 26, 2018.

Commisso isn't credited with any other assets. Mediacom is his primary source of his net worth, according to Mediacom spokesman Tom Larsen in October 2017. His majority ownership of the New York Cosmos soccer team is unlikely to have any value because the Brooklyn-based team operates at a loss and the future of the league it plays in is uncertain, according to a discussion with Sarbjit Sab Singh, who chairs Farmingdale State College's Sport Management department. Commisso bought Italian soccer club Fiorentina in June 2019 for an undisclosed amount, according to a press release.

Commisso declined to comment on his net worth, according to Larsen.

Biography

Birthdate: 11/25/1949
Family: Married, 2 children
Education: Columbia University, Columbia University

Commisso was born in Calabria, Italy on Nov. 25, 1949, according to researcher Relationship Science. He moved to the U.S. at age 12 and grew up in the Bronx. He secured a soccer scholarship to Columbia University where he studied engineering and graduated from its business school in 1975, according to Mediacom's website.

After working in banking for a decade, he joined Cablevision Industries in 1986 where he was chief financial officer until 1995, when the company was sold. He parlayed his savings into cable company Mediacom that focused on markets in Midwestern and Southern states. The company listed on the Nasdaq in 2000 and Commisso took it private eleven years later at an enterprise value of $3.9 billion, according to data compiled by Bloomberg.

Mediacom is now the fifth-largest cable television provider in the U.S., according to the company's website. The billionaire, who lives in New Jersey, is married.

Milestones
  • 1949 Rocco Commisso is born in Calabria, Italy.
  • 1962 Emigrates to the U.S.
  • 1971 Graduates from Columbia University's engineering school.
  • 1975 Graduates from Columbia University's business school.
  • 1986 Joins Cablevision Industries as chief financial officer.
  • 1995 Founds Mediacom after Cablevision Industries is sold to Time Warner.
  • 2000 Lists Mediacom on the Nasdaq.
  • 2011 Takes Mediacom private.
  • 2017 Takes ownership of soccer team New York Cosmos.
  • 2019 Takes ownership of Italian soccer team ACF Fiorentina.