Most people know Ryan Smith as the guy who turned a basement tech startup into an $8 billion exit before buying the Utah Jazz. It’s a classic Silicon Valley story, except it happened in Provo. But if you look closer at the front row of the Delta Center or the press conferences for the new Utah Hockey Club, you'll see Ashley Smith right there. She isn't just "the wife" in the background. She is the co-owner of the Smith Entertainment Group (SEG) and, honestly, the person Ryan credits for keeping their family of five from spinning out of orbit while they try to revitalize an entire state’s sports culture.
Why Ryan Smith and Wife Ashley Are Far From a Typical Corporate Duo
You've probably seen the headlines. Billionaire buys NBA team. Billionaire brings NHL to Salt Lake City. But the dynamic between Ryan and Ashley Smith is built on a "nothing there" foundation that most people forget.
When they met in an accounting class at Brigham Young University, Ryan wasn't a billionaire. He was a college student with a wild idea. For years, as Ryan built Qualtrics alongside his father and brother, there was no paycheck. No glitz. Just a basement and a lot of grit. Ashley has talked openly about those early years, noting that she never questioned why he was turning down "real" jobs to pursue a dream that took nearly two decades to become an "overnight" success.
That kind of belief isn't just sweet; it's a business asset.
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The Move to Pro Sports Ownership
When the Smiths bought the Utah Jazz from the Miller family in 2020 for roughly $1.66 billion, it was a seismic shift for Utah. Ashley didn't just sign the papers; she became an active co-owner. She’s often the only woman in the room during high-stakes league meetings, like the 2025 NBA Draft Lottery where she represented the Jazz on stage.
- The Utah Jazz: Their first major entry into the "Big Four" leagues.
- Utah Hockey Club (formerly Arizona Coyotes): A $1.2 billion acquisition in 2024.
- Real Salt Lake & Utah Royals: Expanding their footprint into MLS and NWSL.
Balancing Five Kids and a $2.6 Billion Empire
How do you raise five children while managing an NHL expansion and an NBA roster? Ashley Smith is pretty blunt about it: you have to be "all in." She is an entrepreneur in her own right, running a dance studio with hundreds of students and over a dozen employees. She’s also the one who calls Ryan out when he isn’t "present" at home.
It’s easy to look at a $2.6 billion net worth and assume life is a breeze. But the Smiths have been vocal about the "uphill" climb. They’ve integrated their family into their work, often bringing their kids to the arena or involving them in philanthropic decisions.
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5 For The Fight and Real Impact
Philanthropy isn't a tax write-off for them; it’s deeply personal. Ryan and Ashley co-founded "5 For The Fight," a global campaign that asks people to donate just $5 to cancer research.
They made history by putting the charity's logo on the Utah Jazz jersey—the first time a North American pro sports team used that space for a cause rather than a corporate sponsor. In 2022, their foundation gave $20 million to Intermountain Primary Children’s Hospital to fund pediatric cancer research. They didn't just write a check; they established family centers where parents can find a moment of peace while their kids fight for their lives.
What Most People Get Wrong About the "Smith Era"
There’s a misconception that Ryan and Ashley are just trying to build a personal playground in Salt Lake City. If you listen to their plans for the $3 billion sports and entertainment district downtown, it’s actually about urban survival.
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They want to make Salt Lake a "tech and sports mecca." This involves reimagining the Delta Center to accommodate both ice and hardwood, and essentially turning the city center into a walkable, high-energy hub. Ashley’s vision often leans toward the "experience" side—making sure the arena feels like a community living room rather than just a place to watch a game.
Staying Grounded in Utah
Unlike many tech moguls who flee to the coasts once they hit it big, the Smiths stayed. They are members of The Church of Jesus Christ of Latter-day Saints and frequently speak about how their faith guides their "all in" philosophy. Ryan spent two years as a missionary in Mexico, and that perspective on global service seems to stick. They aren't just owners; they act like stewards of a legacy they inherited from Gail Miller.
Actionable Insights from the Smith Playbook
If you're looking at Ryan and Ashley Smith as a blueprint for success or partnership, here’s what actually matters:
- Trust the "Year Two" Grind: Ashley stayed supportive when Qualtrics was making $0. Success is rarely a straight line; it's a long period of "nothing" followed by a sudden "everything."
- Philanthropy as Identity: Don't wait until you're a billionaire to give. They started the $5 campaign because it’s accessible. Integrate your values into your brand early.
- The "All In" Rule: Whether it's a dance studio, a tech firm, or a family dinner, half-measures lead to burnout. If you're there, be all there.
- Co-Ownership is Partnership: In business and marriage, having a partner who can "call you out" and keep you grounded is the only way to survive the pressure of high-stakes growth.
The Smith era in Utah is just beginning. With the NHL's Utah Hockey Club (set to become the Mammoth) and the massive downtown redevelopment projects on the horizon, Ryan Smith and wife Ashley aren't just owning teams—they're trying to build a new version of the American West. It’s a gamble, but they’ve never been the type to take the easy path.
To better understand their community impact, you can track the progress of the Salt Lake City Downtown Entertainment District plans or look into the "5 For The Fight" research grants being awarded to local Utah scientists.