Ted Lerner

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Ted Lerner
BornTheodore Nathan Lerner
15 10, 1925
BirthplaceWashington, D.C., U.S.
DiedTemplate:Death date and age
Chevy Chase, Maryland, U.S.
NationalityAmerican
OccupationReal estate developer, sports team owner
Known forFounder of Lerner Enterprises; managing principal owner of the Washington Nationals
EducationGeorge Washington University (AA, LLB)
Children3, including Mark Lerner
AwardsGolden Plate Award (Academy of Achievement)

Theodore Nathan Lerner (October 15, 1925 – February 12, 2023) was an American real estate developer and the managing principal owner of the Washington Nationals of Major League Baseball (MLB). Born and raised in Washington, D.C., Lerner built one of the most prominent real estate empires in the mid-Atlantic region from modest beginnings — a $250 loan from his wife, Annette, in 1952 — ultimately founding Lerner Enterprises, which grew to become the largest private landowner in the Washington metropolitan area.[1][2] His portfolio encompassed commercial, retail, residential, and hotel properties throughout the region, as well as Chelsea Piers in New York City. In 2006, Lerner led a family group that purchased the Washington Nationals, a franchise that had relocated from Montreal two years earlier and was struggling to establish itself in the nation's capital. Under his ownership, the Nationals developed into a competitive franchise, culminating in the team's first World Series championship in 2019.[3] A World War II veteran who served in the United States Army from 1944 to 1946, Lerner was a self-made billionaire whose career spanned seven decades of development in and around the American capital.

Early Life

Theodore Nathan Lerner was born on October 15, 1925, in Washington, D.C.[3] He grew up in the Washington area during the Great Depression and came of age during World War II. At the age of 18, Lerner enlisted in the United States Army in 1944 and served during the final years of the war, remaining in service until 1946.[3]

Details of Lerner's family background indicate that he was raised in modest circumstances in the nation's capital. His upbringing in Washington would prove significant for his later career, as his intimate knowledge of the city and its surrounding communities informed decades of real estate development. Lerner had a brother, Larry, though the two later became estranged, a situation that resulted in a legal dispute.[4]

After completing his military service, Lerner returned to Washington, D.C., and pursued higher education, enrolling at George Washington University.[3]

Education

Lerner attended George Washington University in Washington, D.C., where he earned an associate's degree (AA). He continued his studies at the university's law school, earning a Bachelor of Laws (LLB) degree.[3] His legal training provided a foundation for his subsequent career in real estate, equipping him with knowledge of contracts, property law, and negotiation that would prove essential as he built his business empire across the Washington metropolitan area.

Career

Early Real Estate Career

In 1952, at the age of 26, Ted Lerner entered the real estate business with a $250 loan from his wife, Annette.[2] He initially worked as a home salesman, selling properties on behalf of developers in the rapidly growing suburbs surrounding Washington, D.C.[2] The post-World War II period was one of significant suburban expansion in the Washington metropolitan area, driven by the growth of the federal government and the broader national trend of suburbanization. Lerner positioned himself to capitalize on this growth.

From these modest beginnings, Lerner transitioned from selling homes for other developers to developing properties himself. He founded Lerner Enterprises, which would grow over the following decades into one of the largest and most influential real estate companies in the mid-Atlantic region.[5]

Lerner Enterprises

Under Lerner's leadership, Lerner Enterprises grew to become the largest private landowner in the Washington metropolitan area.[3] The company's portfolio was extensive and diversified, encompassing commercial office buildings, retail shopping centers, residential developments, and hotel properties throughout the region.[3] The company also expanded beyond the Washington area, acquiring ownership of Chelsea Piers, the prominent sports and entertainment complex on the waterfront of Manhattan, New York City.[3]

Lerner operated his business with a notable degree of privacy. A 2006 Washington Post profile described how he had built his empire "behind a wall of silence," reflecting his preference for operating out of the public eye despite the enormous scale of his holdings.[5] The company remained a private, family-run enterprise throughout Lerner's lifetime, with members of his family holding key positions within the organization. This approach allowed Lerner to make long-term investment decisions without the pressures of public shareholders or quarterly earnings reports.

A 2007 profile in Washingtonian magazine examined Lerner's transition from real estate magnate to sports team owner, describing the intersection of his business acumen and his new public role in professional baseball.[6]

By the time of his death in 2023, Lerner had amassed a fortune that placed him among the wealthiest individuals in the United States. Forbes ranked him at number 143 on the Forbes 400 list in 2022, and he was tied as the richest resident of Maryland, with a net worth estimated at $6.4 billion.[1][7] CNBC also listed Lerner among the ten richest MLB owners.[8]

Acquisition of the Washington Nationals

In 2006, Lerner led a family ownership group in purchasing the Washington Nationals, a Major League Baseball franchise that had relocated from Montreal (where it had been known as the Montreal Expos) to Washington, D.C. in 2005.[9] The sale marked the return of locally based ownership to Washington's baseball franchise after years of operation under Major League Baseball's direct control during the team's transition from Montreal.

At the time of the purchase, Lerner was already 80 years old. The acquisition was structured as a family venture, with Lerner serving as the managing principal owner while his son Mark Lerner and other family members held roles within the ownership group.[9] A Washington Post profile published around the time of the sale examined Lerner's background and business methods as the new face of baseball ownership in the nation's capital.[10]

Building the Nationals

Under Lerner's ownership, the Washington Nationals underwent a significant transformation. The team, which had been one of the weakest franchises in Major League Baseball during its final years in Montreal and its initial seasons in Washington, gradually built a competitive roster through a combination of player development and strategic acquisitions.[3]

The crowning achievement of Lerner's tenure as owner came in October 2019, when the Washington Nationals won the 2019 World Series, defeating the Houston Astros in seven games. For Lerner, then 94 years old, the championship represented the fulfillment of a long-held ambition. The Washington Post described the World Series berth as a "family celebration" for the Lerner family, emphasizing the personal significance of the achievement for the aging patriarch who had invested heavily in building the franchise.[11]

Transition of Control

In June 2018, at the age of 92, Lerner ceded day-to-day control of the Washington Nationals to his son, Mark Lerner, who assumed the role of managing principal owner.[12] While Ted Lerner retained his status as a principal owner, the transition marked a generational shift in the franchise's leadership. The move was not unexpected given Lerner's advanced age, and it formalized an arrangement that had been evolving for some time as the elder Lerner stepped back from active management.

In April 2022, reports emerged that the Lerner family was exploring a potential sale of the Washington Nationals. The Washington Post reported on the family's consideration of selling the team, a move that would end the Lerner family's ownership of the franchise that had begun with Ted Lerner's purchase in 2006.[13]

Post-Lerner Ownership Challenges

Following Ted Lerner's death in February 2023, the Nationals organization under Lerner family ownership faced scrutiny regarding the direction of the franchise. In July 2025, Washington Post columnist Barry Svrluga wrote that the family patriarch "knew success requires investment, and it won a World Series," questioning whether his heirs were willing to make the same financial commitment to the team.[14] Additional reporting characterized the post-Ted Lerner ownership as "inefficient" and "directionless."[15] The Washington Post further urged that the Lerner family needed to undertake substantive organizational changes rather than superficial reshuffling.[16] These challenges underscored the difficulty of sustaining the organizational vision that Ted Lerner had established during his years at the helm.

Personal Life

Ted Lerner married Annette Lerner, who was a central figure in both his personal and professional life. The couple's partnership extended to business: in 1952, Annette provided the $250 loan that Ted used to launch his real estate career.[2] Together, they had three children, including son Mark Lerner, who would eventually succeed his father as managing principal owner of the Washington Nationals.[12]

Lerner resided in Chevy Chase, Maryland, an affluent community in Montgomery County adjacent to Washington, D.C.[3] He maintained a relatively private personal life despite his considerable wealth and public profile as a sports team owner.

Ted Lerner had an estranged relationship with his brother, Larry Lerner, which culminated in a legal battle that drew public attention in 2016. The dispute, reported by Washingtonian magazine, shed light on family tensions that had developed over the years.[4]

Lerner died on February 12, 2023, in Chevy Chase, Maryland, at the age of 97.[3][17][18][19] His death was mourned across the sports world and the Washington business community. John Angelos, chairman and CEO of the Baltimore Orioles, issued a statement extending "deepest sympathies to the family of Ted Lerner on the loss of their patriarch."[20]

Recognition

Throughout his career, Ted Lerner received recognition for his achievements in business and civic life. He was a recipient of the Golden Plate Award from the Academy of Achievement, an honor recognizing distinguished individuals across various fields.[21]

In 2015, Lerner received a lifetime achievement award, though the recognition generated some debate. The Washingtonian's Washington Post columnist explored the complexities surrounding the honor, noting tensions between Lerner's undeniable business accomplishments and questions about some of his business practices.[22]

Forbes consistently recognized Lerner among the wealthiest Americans, placing him on the Forbes 400 list at number 143 in 2022.[1] CNBC included him among the ten richest owners in Major League Baseball.[8]

In March 2023, shortly after his death, the Washington Nationals held a tribute to honor Lerner's contributions to the franchise and the Washington baseball community.[23]

Legacy

Ted Lerner's legacy rests on two principal pillars: his transformation of the Washington-area real estate landscape over seven decades, and his role in establishing the Washington Nationals as a viable and eventually championship-winning Major League Baseball franchise. As the founder of Lerner Enterprises, he built the largest private real estate portfolio in the Washington metropolitan area, shaping the physical development of the region's commercial and residential corridors throughout the second half of the twentieth century and into the twenty-first.[5]

In baseball, Lerner's most enduring contribution was his stewardship of the Washington Nationals from a struggling relocated franchise into a World Series champion. The 2019 championship — achieved when Lerner was 94 years old — represented the culmination of more than a decade of investment and organizational development under his ownership.[11] The New York Times obituary noted that Lerner had "bought and built" the Nationals, emphasizing that his role extended beyond mere financial ownership to active involvement in the franchise's development.[3]

NBC4 Washington produced a retrospective examining Lerner's "life and legacy," noting his significance to both the business community and the sports landscape of the Washington region.[24]

The Times of Israel highlighted Lerner's role as "the real estate developer who returned baseball to Washington," framing his purchase of the Nationals as a civic contribution as much as a business venture.[25]

However, the post-Ted Lerner era also highlighted the challenges of succession in family-owned sports enterprises. Media coverage in 2025 raised questions about whether the Lerner family could sustain the competitive investment philosophy that had characterized Ted Lerner's tenure, with columnists suggesting the family should consider selling the team if they were unwilling to invest at the level the elder Lerner had.[14][15] These debates, while critical of the current ownership's direction, served to underscore Ted Lerner's own willingness to invest in winning — a quality that defined his approach to both real estate and baseball.

Lerner's story — from a $250 loan to a $6.4 billion fortune and a World Series championship — remained a notable example of entrepreneurial achievement in the American capital.

References

  1. ↑ 1.0 1.1 1.2 "Ted Lerner & family".Forbes.https://www.forbes.com/profile/ted-lerner/.Retrieved 2026-02-24.
  2. ↑ 2.0 2.1 2.2 2.3 "Annette Lerner & family".Forbes.September 9, 2025.https://www.forbes.com/profile/annette-lerner/.Retrieved 2026-02-24.
  3. ↑ 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 3.11 GoldsteinRichardRichard"Ted Lerner, 97, Dies; Developer Bought and Built Washington Nationals".The New York Times.February 13, 2023.https://www.nytimes.com/2023/02/13/sports/football/ted-lerner-dead.html.Retrieved 2026-02-24.
  4. ↑ 5.0 5.1 5.2 "Behind a Wall of Silence, Lerner Has Built an Empire".The Washington Post.May 3, 2006.https://www.washingtonpost.com/archive/politics/2006/05/03/behind-a-wall-of-silence-lerner-has-built-an-empire/f78aac36-d8ac-4ea2-b002-e0a171b05fed/.Retrieved 2026-02-24.
  5. ↑ "Ted Lerner Plays Ball".Washingtonian.June 1, 2007.https://www.washingtonian.com/2007/06/01/ted-lerner-plays-ball/.Retrieved 2026-02-24.
  6. ↑ "Steve Bisciotti, Ted Lerner among 7 Maryland billionaires on Forbes 400 list".CBS News Baltimore.https://www.cbsnews.com/baltimore/news/steve-bisciotti-ted-lerner-7-maryland-billionares-richest-in-united-states-forbes-400/.Retrieved 2026-02-24.
  7. ↑ 8.0 8.1 "The 10 Richest MLB Owners".CNBC.https://web.archive.org/web/20150110215739/http://www.cnbc.com/id/46941774/The_10_Richest_MLB_Owners?slide=10.Retrieved 2026-02-24.
  8. ↑ 9.0 9.1 "Lerner Group Closes Deal on Nationals".The Washington Post.May 3, 2006.https://www.washingtonpost.com/wp-dyn/content/article/2006/05/03/AR2006050301121.html.Retrieved 2026-02-24.
  9. ↑ "Lerner Profile".The Washington Post.October 8, 2006.https://www.washingtonpost.com/wp-dyn/content/article/2006/10/08/AR2006100801064.html.Retrieved 2026-02-24.
  10. ↑ 11.0 11.1 "For owner Ted Lerner, Nationals World Series berth is a family celebration".The Washington Post.October 19, 2019.https://www.washingtonpost.com/sports/nationals/for-owner-ted-lerner-nationals-world-series-berth-is-a-family-celebration/2019/10/19/b8e8e694-f28c-11e9-8693-f487e46784aa_story.html.Retrieved 2026-02-24.
  11. ↑ 12.0 12.1 "Nationals owner Ted Lerner, 92, to cede control of club to son Mark".The Washington Post.June 14, 2018.https://www.washingtonpost.com/sports/nationals/nationals-owner-ted-lerner-92-to-cede-control-of-club-to-son-mark/2018/06/14/3902cb24-6f80-11e8-afd5-778aca903bbe_story.html.Retrieved 2026-02-24.
  12. ↑ "Washington Nationals Lerners potential sale".The Washington Post.April 11, 2022.https://www.washingtonpost.com/sports/2022/04/11/washington-nationals-lerners-potential-sale/.Retrieved 2026-02-24.
  13. ↑ 14.0 14.1 "If the Lerners won't run the Nationals properly, it's time to sell".The Washington Post.July 18, 2025.https://www.washingtonpost.com/sports/2025/07/18/washington-nationals-ownership-lerners/.Retrieved 2026-02-24.
  14. ↑ 15.0 15.1 "Report: Nationals Ownership Criticized As "Inefficient" And "Directionless"".MLB Trade Rumors.September 20, 2025.https://www.mlbtraderumors.com/2025/09/report-nationals-ownership-criticized-as-inefficient-and-directionless.html.Retrieved 2026-02-24.
  15. ↑ "The Lerners must make these firings a rethinking, not a reshuffling".The Washington Post.July 6, 2025.https://www.washingtonpost.com/sports/2025/07/06/lerners-washington-nationals-ownership/.Retrieved 2026-02-24.
  16. ↑ "Washington Nationals owner Ted Lerner dead".The Washington Post.February 13, 2023.https://www.washingtonpost.com/obituaries/2023/02/13/washington-nationals-owner-ted-lerner-dead/.Retrieved 2026-02-24.
  17. ↑ "Ted Lerner dies at 97".MLB.com.https://www.mlb.com/news/ted-lerner-dies-at-97.Retrieved 2026-02-24.
  18. ↑ "Ted Lerner, Washington Nationals Billionaire Owner, Dies at 97".Bloomberg.February 13, 2023.https://www.bloomberg.com/news/articles/2023-02-13/ted-lerner-washington-nationals-billionaire-owner-dies-at-97.Retrieved 2026-02-24.
  19. ↑ "A statement from Orioles chairman & CEO John Angelos on the passing of Ted Lerner".MASN.https://www.masnsports.com/blog/entry/a-statement-from-orioles-chairman-ceo-john-angelos-on-the-passing-of-ted-lerner/.Retrieved 2026-02-24.
  20. ↑ "Golden Plate Awards — Business".Academy of Achievement.https://achievement.org/our-history/golden-plate-awards/#business.Retrieved 2026-02-24.
  21. ↑ "The Problem with Ted Lerner's Lifetime Achievement Award".The Washington Post.November 10, 2015.https://www.washingtonpost.com/news/digger/wp/2015/11/10/the-problem-with-ted-lerners-lifetime-achievement-award/.Retrieved 2026-02-24.
  22. ↑ "Nationals honor Ted Lerner".The Washington Post.March 24, 2023.https://www.washingtonpost.com/sports/2023/03/24/nationals-honor-ted-lerner/.Retrieved 2026-02-24.
  23. ↑ "The Life and Legacy of Ted Lerner: The News4 Rundown".NBC4 Washington.July 26, 2025.https://www.nbcwashington.com/video/news/local/news4-rundown/the-life-and-legacy-of-ted-lerner-the-news4-rundown/3278673/.Retrieved 2026-02-24.
  24. ↑ "Ted Lerner, real estate developer who returned baseball to Washington, dies at 97".The Times of Israel.https://www.timesofisrael.com/ted-lerner-real-estate-developer-who-returned-baseball-to-washington-dies-at-97/.Retrieved 2026-02-24.

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