Spurs add billionaire Airbnb co-founder as minority owner

SAN ANTONIO – Joe Gebbia, the billionaire co-founder and chairman of Airbnb, has been added as a minority owner of the San Antonio Spurs.

The team announced on Tuesday that Gebbia would be its new strategic partner, and the move has been approved by the NBA Board of Governors.

“Joe Gebbia has taken his passion from giving back to every corner of the world – from helping Afghan refugees find housing to working to end homelessness in the United States,” Peter J. Holt said in a statement. “His philanthropic and artistic vision combined with his keen business acumen align with our values ​​of building leaders and legacies within our communities. We are delighted to welcome Joe to the Spurs family.

Gebbia joins Michael Dell, the founder of Dell Technologies, and investment firm Sixth Street as recent investors in the organization. The Holt family remains the largest shareholder in Spurs. Peter J. Holt has been Managing Partner since June 2021.

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Gebbia grew up in Atlanta and has been a lifelong basketball fan. He co-founded Airbnb in 2008, then launched airbnb.org in 2012. The nonprofit organization helps people find shelter in times of crisis or natural disaster.

According to a Spurs press release, Gebbia has also been working throughout the pandemic to find temporary housing for frontline workers, as well as Afghan refugees seeking asylum in the United States in 2021.

“I’ve always loved basketball and always dreamed of being on a team – ever since I was a ball boy for my hometown Atlanta Hawks. I’m so grateful to be doing part of the legendary San Antonio Spurs organization, which has long reflected a commitment to social good within and through their community that rivals the success they have had on the field,” Gebbia said in a statement. “I look forward to being a part of this tradition and working alongside the team, management and partners to create a more inclusive, engaged and sustainable future for our fans and the wider Spurs community. “

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The addition of Gebbia continues the trend of big news off the pitch for the organization. The Spurs recently opened their new $500 million Human Performance Campus on the Northwest Side. The campus is called “The Rock at La Cantera”.

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