Jeffrey Loria is a famous American art dealer. He has been in the art industry since the early 1960s. Moreover, the dealer has a sharp eye for good paintings and artworks. He is also an excellent negotiator, having sold many of his art collections at a high price. Additionally, the collector has written several art-related books.
The art lover is also a businessman at heart. He is a former owner of Montreal Expos, a Canadian professional baseball team based in Montreal. Furthermore, alongside baseball, the Loria has ventured into many other areas, earning himself abundant wealth along the way.
So, let's go through Jeffrey Loria's career and personal details in this biography.
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Early Life And Family
The business mogul was born Jeffrey Harold Loria on November 20, 1940, in New York City. He was raised in Manhattan by his parents. Moreover, Jeffrey Loria's father, Walter J. Loria, was a lawyer and an inventor of electronic devices. Likewise, Jeffrey Loria's mother, Ruth Ost Loria, mostly raised him in his childhood.
The art dealer also had a lovely sister. But, sadly, Jeffrey Loria's sister died in a plane crash in 1994.
Jeffrey Loria's family has always supported his both art and business career. Photo Source: Social Media.
The entrepreneur completed his formal education at Stuyvesant High School. He became interested in baseball during his school years. Moreover, Loria enrolled at Yale University, where he initially took pre-med courses. After graduation, he was admitted to Columbia Business School. Additionally, Jeffrey received his degree in 1968 and went to start his business career.
Jeffrey Loria Net Worth And Career
The dealer is one of the wealthiest businessmen in America. He has had a long successful career that most could only wish for in their life. So, Jeffrey Loria's fortune mainly comprises his earnings from his business ventures. However, it also includes his shares, salaries, and other monetary values. Besides that, the art lover also makes money from his painting sales.
The businessperson has made many investments in many fields. As a result, many sources benefit his income. Thus, according to Celebrity Net Worth, Jeffrey Loria's net worth amounts to $500 million. He has certainly earned a lot of money to spend his old age in comfort.
Earnings From Art Career
Aforementioned, Jeffrey Loria began his art career right after his graduation. Vincent Price initially introduced him to work for Sears in their newly opened art-buying program. However, the art lover was determined to create his own business. As a result, his private company Jeffrey H. Loria & Co. was established in 1965 in Manhattan.
The art enthusiast primarily focused on the 20th Century painters and bought their paintings. His collections include works of Pablo Picasso, Henry Moore, Joan Miro, Fernand Léger, etc. Furthermore, Loria's motive was to be a private dealer rather than have a gallery. Additionally, he rarely launched art shows during his art career.
Jeffrey Loria has made an abundant wealth from his art dealing business. Photo Source: Social Media.
The businessman is also an excellent negotiator with an impressive trade record to boast. He earned $32.6 million from the sale of a 1954 painting by Alberto Giacometti at a Christie's Art Auction. It set a new sales record in 2013.
The dealer has made numerous sales throughout his career. As such, Jeffrey Loria's net worth must have increased over the years. In addition, he kept a private life during his initial art business. Loria rose to popularity after buying a Major League Baseball Team.
Income From Montreal Expos
For Jeffrey Loria, having a successful art dealing business was merely a dime in dozen. Additionally, it couldn't limit his business potential. So, the art dealer decided to invest in a sports team. He initially bought the Oklahoma City 89ers in 1989. Moreover, the team won the 1992 American Association Championship. However, the owner sold the group in 1993 and started bidding for Major League Team.
Jeffrey then became the owner of Montreal Expos in 1999. He initially bought a 24% stake for $12 million but eventually ended up with 94% in the team. As a result, Loria later became the owner of the Canadian baseball team. Unfortunately, he made lots of changes in the group, which caused him lots of backlashes.
Jeffrey Loria was called the reason behind the downfall of Montreal Expos. Photo Source: Social Media.
The American socialite initially increased the payrolls, which made the employees happy. He also promised a new stadium as the old Olympic Stadium was in the worst condition. Moreover, although, initially hesitant the provincial government later funded the project. Finally, however, Loria demanded more funds for the project. Montreal city then canceled the plans of building Labatt Park.
The business mogul increased the broadcast rights' fees of the Montreal Expos. As a result, they couldn't land a television and English-speaking radio deal for the Expos in 2000. Furthermore, these failed attempts made Jeffrey Loria the most hated person in the Baseball world. He then sold the team for $120 million in 2002.
Despite being the worst figure among baseball fans, Jeffrey Loria's total worth certainly benefitted from his time with Montreal Expos.
Earnings From Miami Marlins
After leaving the Canadian team, the businessperson switched to the American Baseball team Miami Marlins. John W. Henry sold the group for $158.5 million on February 12, 2002. Moreover, Jeffrey Loria quickly reaped the success after Marlins got a victory in the 2003 World Series by beating New York Yankees.
The former Montreal Expos owner began a new stadium plan for the league called Marlins Park. He asked for funding from the local government to share profits if he sold the team in the future. Thankfully, the second time, Jeffrey completed the project and opened the Marlins Park in 2012.
Still, the businessman's reputation continued to lower down in the baseball industry. He was heavily criticized for violating baseball protocol by switching Jose Fernandez and Ricky Nolasco in 2013. Additionally, the former baseball pro Tino Martinez accused Loria of assaulting players during his resignation from the Marlins.
Amidst all the accusations, the Marlins' owner eventually sold the baseball team to Derek Jeter for $1.2 billion. It is a hefty amount considering the initial investment by Loria. However, Jeffrey Loria denies getting any profit from the sale. He had to reimburse Miami's local government $4.2 million. We can tell the art dealer didn't suffer any loss despite his claim.
Jeffrey Loria Has Married Twice
The media personality's personal life went through many ups and downs similar to his career. He was married to Sivia Samson in 1980. The latter is a divorcee of attorney Allen Samson. Moreover, Sivia always took her husband's side despite having a bad image in the sports industry.
The businessperson also has stepchildren Nancy Samson and David Samson from his first marriage. The latter served as the president of Miami Marlins from 2002 to 2017.
The couple had a strong marriage for twenty-five years. But, suddenly, Jeffrey Loria's wife, Sivia Samson, filed for divorce in late 2005. Moreover, the reason behind the separation isn't revealed. Although there is no mention of alimony, the art dealer must have paid a considerable divorce settlement.
Moving On With New Partner
The divorcee soon moved on from his ex-beau and met his current partner Julie Lavin Loria. The latter is a Leominster native and an author. Furthermore, Jeffrey Loria's wife, Julie Lavin Loria, is a huge baseball fan with a passion for cooking. She combines both her interests and writes books about them.
Jeffrey Loria is currently enjoying a comfortable life with his second wife Julie Lavin Loria. Photo Source: Social Media.
The duo also has a loving daughter. Jeffrey Loria's daughter, Samantha Gabrielle Loria, is a graduate of Yale. Additionally, she received her master's degree in child psychology from Yeshiva University. Moreover, Samantha has tied the knot with Jeffrey Neal Mizrahi.
Trivia And Facts
- Jeffrey Loria has co-written a book titled Silent Cities with his second-wife.
- He donated 900 bobbleheads of his collection to the Baseball Hall Of Fame in New York.
- He has bought a carriage house on Southampton for $6 million and 7.4 acres of land for $16.5 million.
