Bruce Levenson has reaped the profits of his $850 million sale of the Atlanta Hawks, a deal that was reached in 2015 to transfer ownership to Tony Ressler and Company. Levenson owned most of the Atlanta Hawks’ shares along with Atlanta Spirit, LLC from 2004 to 2015 and also served on the NBA’s Board of Governors. Though the sale went through, Levenson ran into difficulty with his former insurance company, AIG. He and the other former owners opted to buyout then General Manager Danny Ferry’s contract, and both parties had filed a claim with AIG to cover losses. But AIG has halted any payments and Levenson’s group has filed a lawsuit for bad faith insurance and are now involved in a lengthy court case.
Levenson not only formerly owned the Atlanta Hawks, he also build a mass communications company in United Communications Group (UCG). Levenson holds a bachelor’s degree in journalism from Washington University, and while taking courses at American University’s law school he started writing at the Washington Star. In 1977 he began his own newsletter with Ed Peskowitz titled Oil Express, and soon that newsletter grew into a major conglomerate covering developments in energy, technology, healthcare, banking and education. UCG founded technology research company TechTarget, which soon became a publicly-traded company, and they later founded the GasBuddy app. Reference: brucelevenson.com
Levenson is a member of several Jewish American foundations such as BBYO, SEED Foundation and Birthright Israel. Not long ago he joined a group of Jewish leaders that asked Israeli Prime Minister Benjamin Netanyahu to discuss peace measures with US Secretary of State John Kerry. He also has supported the Holocaust Memorial Museum and took the Atlanta Hawks team to visit the museum and to hear his mother-in-law’s story of survival. Levenson also helped raise funds for inner city students through Hoop Dreams, a downtown Washington D.C. basketball tournament. Read More on http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html.