You’ve likely heard the name Maloof and immediately thought of the bright lights of the Palms or maybe a sideline seat at a Sacramento Kings game. But when it comes to Phil Maloof net worth, the numbers floating around the internet are often a confusing mix of family totals and outdated real estate listings. Honestly, trying to pin down a single figure for Phil is like trying to catch smoke.
Phil isn't just "one of the brothers." He’s a former New Mexico State Senator, a music producer, and a guy who once owned a penthouse so massive it had its own helipad. While the Maloof family fortune has been estimated at over $1 billion, Phil’s personal slice of that pie is a more nuanced story of high-stakes divestment and unique personal investments.
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The Foundation of the Maloof Fortune
To understand where Phil’s money comes from, you have to look at the family roots in New Mexico. It all started with Coors. Back in 1937, the family secured the distribution rights for Coors beer in the Southwest. That’s the kind of "forever money" most people dream of.
They didn't just stop at beer. The Maloofs moved into banking, trucking, and eventually, the gambling mecca of Las Vegas.
Breaking Down the Major Assets
- The Palms Casino Resort: This was the family’s crown jewel. Phil and his brothers—George Jr., Gavin, and Joe—along with their sister Adrienne and mother Colleen, built the Palms into a celebrity magnet. However, the 2008 recession hit the luxury sector hard. By 2011, the family sold a 98% stake to private equity firms, though they retained a small piece and George stayed on to manage it for a while.
- The Sacramento Kings: The family owned the Kings from 1998 to 2013. When they finally sold their 65% stake to Vivek Ranadivé, the deal valued the team at roughly $534 million. Phil’s share of that sale was a significant contributor to his liquidity.
- Maloof Music & Productions: Phil took a lead role here. He’s always been more of the "creative" brother. He wasn't just sitting in boardrooms; he was producing records and working with artists like the Hinder and L.P.
Phil Maloof Net Worth: Real Estate and the Penthouse Factor
If you want to see where Phil’s wealth is visible, look at the "Founder’s Penthouse." For years, this was the ultimate flex in Las Vegas real estate.
It occupied the entire 59th floor of the Palms Place tower. We’re talking 27,000 square feet of indoor and outdoor space. It had a 20-person Jacuzzi, 30-foot ceilings, and views that would make a billionaire blush.
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Phil originally listed the place for a staggering $38 million.
Did he get it? Kinda. The market for a penthouse that can host 500 people is pretty small. He eventually sold it in 2019 for around $12.5 million. Even though it was a price cut, it still stands as one of the most expensive high-rise sales in Vegas history. That’s a massive chunk of change to add to your personal ledger.
Dealing with Misinformation and Family Loss
There is a bit of confusion online regarding Phil Maloof’s status. In early 2020, "Uncle Phil" Maloof—the brother of George Sr. and Phil’s uncle—passed away. Some news aggregators got the two Phils mixed up, leading to rumors that the younger Phil had died.
To be clear: the Phil Maloof we're talking about, the former senator and music mogul, is very much around.
When you look at his sister Adrienne Maloof, who has a reported net worth of about $60 million from her share of the family business and her Real Housewives fame, you can start to triangulate Phil’s position. Most experts suggest Phil Maloof's net worth sits comfortably in the $50 million to $100 million range, depending on how much of his capital is tied up in private equity versus liquid cash from those big team and casino sales.
Why the Number Varies
Wealth at this level isn't a bank balance you can see at an ATM. It’s a complex web of:
- Inherited Trusts: The Maloof Companies are a private entity. We don't see their tax returns.
- Minority Stakes: The family still holds interests in things like the Vegas Golden Knights (NHL).
- Passive Income: Distribution rights in New Mexico continue to churn out cash.
Phil has always been a bit of an outlier. He served in the New Mexico Senate in the late 90s, showing an interest in public service that his brothers didn't share. He also owns a rare Barton organ from the old Chicago Stadium—one of the largest of its kind. That’s not a "business asset" in the traditional sense, but it’s a priceless piece of history that shows where his interests (and money) actually go.
How to Track Wealth Like the Pros
If you’re trying to keep tabs on high-net-worth individuals like the Maloofs, stop looking at "net worth" websites that use the same template for everyone. Instead, follow the SEC filings for any public companies they might be involved with and keep an eye on Clark County property records.
Real wealth is often hidden in LLCs. For Phil, his transition from the "casino guy" to a private investor and music enthusiast means his footprint is smaller than it was in the mid-2000s, but his bank account likely hasn't suffered much.
Next Steps for Researching Phil Maloof:
- Check recent Las Vegas property transfers under Maloof-linked LLCs to see his current real estate moves.
- Look into the Maloof Companies' current holdings in New Mexico distribution to gauge the "floor" of the family income.
- Monitor NHL minority ownership news regarding the Vegas Golden Knights for updates on the family's sports portfolio.