Seattle Kraken founding owner David Bonderman dies at 82

David Bonderman, the founding owner of the Seattle Kraken, died Wednesday at the age of 82, the team has announced.

Bonderman was a lawyer and investor who managed money for one of the richest families in Texas, co-founded global alternative asset management firm TPG, and also was a minority owner of the NBA’s Boston Celtics.

Born in Los Angeles, Bonderman attended the University of Washington in Seattle in the 1960s, a time in which he “developed both a love for the city and a curiosity about the world,” according to a release from the Kraken.

It is with great sadness that we announce the passing of David Bonderman, founding owner of the Seattle Kraken. A visionary leader, David helped bring the NHL’s 32nd franchise to Seattle. His contributions to business, conservation, music & sports will long be remembered. →… pic.twitter.com/U0Tqutg7yd

— Seattle Kraken (@SeattleKraken) December 11, 2024

During Bonderman’s time as a student at UW, he worked as a security guard at the Space Needle, which is on the same Seattle Center campus as the current Climate Pledge Arena, which he went on to play a vital role in developing and bringing an NHL hockey expansion franchise to as a primary tenant.

“David had a love for the Pacific Northwest, and a passion for sports and music that came together when he founded the NHL’s 32nd franchise, the Seattle Kraken and rebuilt Climate Pledge Arena, alongside his partners at OVG,” Seattle Kraken CEO Tod Leiweke said in a statement. “… We are honored to have had the opportunity to live and learn alongside him.”

Bonderman’s daughter, Samantha Holloway, joined him as a Seattle Kraken co-owner and replaced him as the team’s executive chair in 2022.

“We are all grateful for having experienced his wisdom, wit, generosity, and love,” Bonderman’s children said in a statement. “His zest for life, and his passions, especially sports and music, were infectious. He was always there for his friends and family, and we will miss him greatly.”

For much of his career, Bonderman kept a low profile in public, rarely granting interviews with news organizations. He concentrated on corporate takeovers and other investments, many of which were highly profitable.

Forbes magazine estimated his wealth at $6.5 billion in March 2023.

“Rarely the loudest person in the room, but often the smartest, David remained humble, once saying that his personal strength was ‘Not knowing a lot about something but knowing enough to make a decent decision,’” a statement from his family and companies said.

After a stint teaching law at Tulane University, he joined the U.S. Justice Department in the late 1960s, then in 1971 became a partner and expert in corporate and securities law at Arnold & Porter, a high-powered Washington, D.C., law firm.

In 1983, he went to work for the Robert M. Bass Group investment company in Fort Worth, Texas. With money from the Bass family, which traced its wealth to the exploits of Texas oil wildcatter Sid Richardson, Bonderman and partner Jim Coulter made several leveraged buyouts in the 1980s, including a hugely profitable investment in Continental Airlines.

Bonderman and Coulter started Texas Pacific Group in 1992. According to its website, the private-equity firm now known as TPG manages $239 billion in assets and has invested in industries that include health care, technology and business services. The firm was a major early investor in short-term rental site Airbnb and music streaming service Spotify.

With his wealth from TPG, Bonderman purchased a minority stake in the Boston Celtics and was a member of the group holding a majority interest in the Seattle Kraken.

Bonderman also threw lavish birthday parties. The Rolling Stones played at his 60th birthday bash, and former Beatle Paul McCartney headlined his 70th birthday soiree. Both events were in Las Vegas.

His survivors include five children and three grandchildren.

This post includes contributions from The Associated Press.