How a college dropout turned a family startup into a Utah sports empire
In short: Ryan Smith left Brigham Young University as a junior to build Qualtrics, an experience management firm. Today, the billionaire businessman is the architect of a massive professional sports portfolio in Salt Lake City, controlling major franchises across the NBA and NHL while reshaping the regional landscape of American professional athletics.
Born in Eugene, Oregon, in 1978, Smith grew up in a family deeply connected to the Church of Jesus Christ of Latter-day Saints. His academic path at Brigham Young University was interrupted when he co-founded Qualtrics alongside his father, Scott, and brother, Jared. Although he initially left his studies to focus on the venture, he returned to finish his degree in 2016, the same year he earned a spot on Fortune's 40 Under 40 list.
Smith's transition into professional sports ownership began in 2020 when he acquired a majority stake in the NBA's Utah Jazz from Gail Miller. This deal, valued for its inclusion of the Delta Center and G League assets, signaled his intent to anchor his business interests in Salt Lake City. By 2022, he expanded his reach by purchasing Major League Soccer's Real Salt Lake and re-establishing the Utah Royals, though he later divested these soccer interests to Miller Sports + Entertainment in 2025.
His most ambitious move involved the National Hockey League. After formally requesting an expansion franchise in early 2024, Smith secured a team by purchasing the assets of the Arizona Coyotes for $1.2 billion. This maneuver allowed him to bypass a traditional expansion draft and launch the Utah Mammoth. As of September 2026, Forbes estimates his net worth at $3.3 billion, cementing his status as a central figure in the global business community and a dominant force in Utah's professional sports scene.
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- Summary by Intellect · source: Ryan Smith (businessman)
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