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Daniel Snyder
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Daniel Snyder

Owner of Washington Redskins,
Chairman of Six Flags Inc. 
Washington Redskins, Six Flags Inc., Snyder Communications Inc.

United States

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About Daniel Snyder

Daniel Snyder is an American billionaire who has featured on the Forbes list and his fortune is derived mainly from the media and entertainment industry. He has a wife, Tanya Snyder, and three children who study in Maryland.

Daniel Snyder – A Natural Entrepreneur

Daniel Snyder was born in Maryland, USA in 1965. He did his schooling in Maryland and by the age of fourteen, he was already working at a bookstore. Snyder showed his entrepreneurial streak very early in life. At the age of seventeen, he assisted his father in selling bus-trip packages to fans of the Washington Capitals, a hockey team. However, they did not meet with much success. He dropped out of University of Maryland and when he was twenty, he began a small but profitable business of leasing jets for college students to fly out of the country during spring vacations. Snyder also worked with a real estate entrepreneur, Mortimer Zuckerman and published a magazine for college students called Campus USA. However, the venture was not doing well, so after three years, they stopped publishing the magazine.

Snyder Communications Inc., a marketing services outsourcer, was another venture Snyder started in 1988, this time with his sister, Michelle Snyder. The company grew rapidly by acquiring other firms. However, Snyder, put up Snyder Communications for sale in 1999 since he wished to concentrate in his football franchise business.

Daniel Snyder’s team - Washington Redskins

In 1999, Snyder’s passion for professional football led him to buy the Washington Redskins team franchise for $800 million. The franchise originally belonged to the Jack Kent Cooke Foundation named after the original owner Jack Kent Cooke who passed away in 1997. Since his family could not raise sufficient funds to purchase it, the valuable franchise was ultimately sold to Snyder. After the Washington Redskins team was sold to Snyder, its value climbed to new heights and is currently the most valuable professional football team after the Dallas Cowboys. Initially, the team did quite well but soon, the team’s popularity declined and it lost much of its fan following due to internal problems. On the other hand, in 2001, Washington Redskins established the Redskins Relief Fund to support families of the victims of the Pentagon attack.

Other Ventures of Daniel Snyder

Six Flags Inc. is a chain of amusement parks that was taken over by Snyder, a stake-holder, in a bid to gain control over its activities. He became the Chairman of Six Flags Inc. but he was unable to do much as the company was undergoing huge losses. Sadly, in the recent years, the company faced major financial turmoil in the recession and hence, filed for bankruptcy in 2009. Snyder has also bought the production and entertainment house named Dick Clark Productions in 2007 which has produced many television shows.

Daniel Snyder is a go-getter known for his impulsive decisions. The performance of his football team, Washington Redskins has been inconsistent recently. Hence, he has often been criticized by the media for his erratic decisions of firing and hiring employees; coaches, to be more specific. Despite all this, there’s no denying that his entrepreneurial abilities are commendable, leading him to the Forbes list of billionaires.

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