Michael and Marian Ilitch Net WorthReal Name: Michael and Marian Ilitch
Date of Birth: 07/20/1929
Place of Birth: Detroit, Michigan
2017 Net Worth: $4.8 Billion
Profession: Founders of Little Caesar’s Pizza chain, owners of Detroit Tigers and Detroit Red Wings, owner of Olympia Entertainment
Michael and Marian Ilitch Biography
Michael Ilitch was born in Detroit, Michigan in 1929. After graduating from high school, he joined the United States Marine Corps for four years. When he completed his service, the Detroit Tigers offered him a contract to play baseball for $3,000. Ilitch played in the minor leagues for four years between 1952 and 1955 and was forced to retire from playing due to a knee injury.
Ilitch and his wife Marian knew that they needed to secure some sort of income so they started a pizza business, called Little Caesar’s Pizza, in Garden City, Michigan, in 1959. Their pizza chain has now expanded and become an international success. In fact, this couple’s pizza business was so successful that it enabled them to expand their interests. In 1982, the couple purchased the Detroit Red Wings Hockey Club for $8 million, as well as Olympia Entertainment, Inc. Michael Ilitch purchased the Detroit Tigers in 1992 from the founder of Domino’s Pizza, Tom Monaghan. Ilitch firmly believed that the Tigers needed to move to a new ballpark. He financed about 60 percent of the $350 million facility and the team moved to the new ballpark, named Comerica Park, in 2000.
Marian Ilitch divested any personal interest in the Detroit Tigers in 1998 so that she could pursue her interest in Motor City Casino. She purchased sole, controlling interest in the casino in 2005 and continues to pursue other gambling interests.
Ilitch was entered into the Hockey Hall of Fame in 2003, then in the United States Hockey Hall of Fame the following year. In the history of the Stanley Cup, only 12 women have had the privilege of having their names engraved on the trophy, Ilitch’s wife, Marian, and their three daughters have their names on the Stanley Cup since they are part owners of the Red Wings.
Although this dynamic duo has passed on the Little Caesar’s Pizza part of the family business to their children, they are still active in their sports team and casinos. Michael and Marian Ilitch have a net worth of $ 4.8 billion.