Jerry Jones owns the Dallas Cowboys, the most valuable franchise in sports. He could probably get $10 billion if he put it on the market tomorrow, and there would likely be a bidding war.
By the way, he spent $150 million on the team back in 1989. That makes the Cowboys his most lucrative investment ever, but one that came to light this week is not far behind.
Jones has what’s called the “Midas touch,” and his $1.1 billion investment in Comstock Resources has more than doubled to $2.6 billion, according to a report in the Wall Street Journal.
The invasion of Ukraine by Russia caused a worldwide oil and gas crisis, which means the stock price for Comstock Resources has shot through the moon, up 81% since the end of February.
Here’s a note from the Fort Worth Telegram showing Jones’s risk-reward with this investment. For every $1 the stock price goes up or down, Jones will gain or lose roughly $182 million.
In other words, a $1 movement in the stock price affects Jones’ personal net worth more than the cost of the Dallas Cowboys 33 years ago.