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The 55-year-old billionaire built his fortune as the founder of marketing firm Snyder Communications. Snyder took the firm public in 1996 and became the youngest-ever CEO of a company listed on the New York Stock Exchange.
Snyder purchased the Redskins for a then-record price of $800 million in 1999. He sold Snyder Communications to communications giant Havas in 2000 for $2.1 billion in stock.
Snyder has a personal net worth of $2.6 billion as of June 2020, according to Forbes. The Redskins are now worth an estimated $3.4 billion and rank among the NFL’s most valuable franchises.
The longtime NFL team owner drew national scrutiny in recent years over his refusal to change the Redskins team name despite allegations that it is racist. Various Native American groups have staged protests and called on Snyder to discontinue the use of the name and logo.
NFL Commissioner Roger Goodell said in January 2018 that the franchise was unlikely to change its name in the future.
“I don’t see them changing that perspective,” Goodell said at the time.