How Did Arte Moreno Make His Money? A Look At The Angels Owner’S Fortune

Arte Moreno’s journey to wealth began with Outdoor Systems, a billboard company he co-founded in the early 1980s. He served as CEO, guiding the company’s growth and success. In 2000, Moreno sold Outdoor Systems in a landmark deal worth $8.3 billion, a combination of $6.5 billion in stock and the assumption of $1.8 billion in company debt. This sale marked a turning point in Moreno’s life, paving the way for his subsequent ventures.

The success of Outdoor Systems stemmed from Moreno’s innovative approach to the billboard industry. He recognized the potential of digital billboards and invested heavily in their development and deployment. This foresight transformed Outdoor Systems into a dominant player in the market, attracting the attention of major media conglomerates. The sale of Outdoor Systems not only made Moreno a wealthy man but also established him as a shrewd businessman with a knack for identifying and capitalizing on emerging trends. This financial foundation allowed him to pursue other ambitious endeavors, including his ownership of the Anaheim Angels baseball team.