Over much of the past redecades i have been an investor. The highest calling of mankind is private equity, and then i started interviewing. I have learned from doing my interviews how leaders make it to the top. He said 250, i said fine, i did not negotiate with him, i did no due diligence. And how they stay there. Do you feel inadequate because you are only the second wealthiest man the world, is that right . For the past quarter century, the most successful sports owner in the world has been robert kraft. He is taking his team to six super bowl championships with the help of tom brady, his star quarterback. I had a chance to sit down with him at his Gillette Stadium in massachusetts to talk about how he has been so successful as a Sports Team Owner and his newfound and very deeply felt interest in fighting antisemitism. In your wildest dreams, when you bought this team, did you imagine that you would win six super bowls and the most famous owner in professional sports . I sat in the stands of the old foxboro stadium, and when they came here i sat in the stands here, and i dreamt about one day trying to buy this team and own it and run it the way that i wanted. I said if i could ever get this team, i dream of having home playoff games and go to the super bowl and win it. When you bought the team, i think you paid 175 million. 172 million. Thats a lot of money in those days, the highest price ever paid for a football team. For any sports franchise anywhere in the world. Im sure your friends said bob, are you crazy . My friends, my wife, that is the one time in our marriage that she was ready to really ring my neck. Now the commanders, they were sold for a Purchase Price of 6 billion and have not won six superbowls, and if you put yours up for sale, would you ever consider selling or are you never going to sell . Never in my lifetime will we sell this team. But i hope that my children keep it going as well. It also builds community, its a way to build bridges. You bring people of all backgrounds together. I think back to when we were privileged to win our first super bowl three or four months after 9 11. And in boston, a million and a half people came out on the streets on a very cold day, black, white, asian, gay, every background, putting community and team first. That is a privilege and honor. I look at this team like a community and im annoying never going to sell. Let me ask about the nfl. Nfl prices or the value of the team has gone up as i mentioned because tv contracts have gone up. How much higher do you think tv contracts can go . Is there any limit to how much you can get paid by the broadcaster . I have been privileged to be chair of the Media Committee for the last couple of decades. Three seasons ago, we were able to do seven to ten year contracts seated at 130 billion. That was tremendous, because it gave us great stability and where we could do a 10 year labor deal and we basically share 5050 with the players, the revenue. They have been able to grow and succeed with us. You know, we know linear tv is really challenge now, and we have been doing things that we brought into Tech Partners now, amazon and google or youtube, i think that we are developing our own nfl , where we go direct to consumer, and i think we will have some serious decisions to make down the road when we see what happens with the entire media environment. David the nfl is the most popular, i guess, spectator sport in the United States, you can argue. It gets better ratings than virtually every other sport. Around the world, the most popular sport seems to be what is called soccer here and football elsewhere. Can you make american football as popular outside the United States as european football is around the world, or is that not realistic . Its not realistic because to play the sport of soccer all you need is a ball, you dont need equipment, you dont need anything but a net and a ball. Two thirds of the worlds population can actually play the game. Unfortunately, except for europe, we have not really had the gameplay. We are going to germany this year and the stadium we are playing has 55,000 or 60,000 seats, and the demand for tickets, 3 million within the first 24 hours. The demand is there, and the appreciation of the game. And i think were going to work to have the game appreciated more globally, and i think with gaming coming on that people throughout the world, our sport has a 40 second delay between plays, where betting and other kinds of gaming is that we educate more internationally, that is where the marketplace is really open for us. I dont think that they will be playing the game. One of the issues the nfl has had to deal with is the concussion issue. When you were playing football, it was probably not as big a deal. When i play football when i was 10 or 12, i was not getting hit in the head that much by people weighing 200 or 300 pounds, what we have players weighing 300 pounds, you can get hurt. You have settled litigation on concussions, do you think the concussion issue has been addressed and better helmets will help the problem in the future . The advancement has come with the medical support. I go back to where we were, this is our 30th season, i pinch myself. The medical advancement and looking to keep the game as healthy as possible, with the helmets, we even have an independent doctor who sits above and can take any player out of the game and be tested, because guys sometimes would not want to go out because they dont want to lose their job. I really believe the medical and safety is better than it has ever been. Let me ask you about one of the most fateful decisions your team ever made. Somebody decided to draft a guy named tom brady, who had played at the university of michigan. He was not the number one draft pick. Somebody must have seen something in him. Who was the person who said lets take a gamble on him . That gentleman was a man by the name of dick. In the draft, there were seven quarterbacks taken by the third or fourth round. And this man, i remember in the draft room, him saying to bill belichick, tom brady is a tremendous value we have three quarterbacks. Then the fourth and fifth round came, the sixth round, and the last pick of the sixth round, the compensatory pick, draft pick number 199, we wound up taking tom brady. How did it feel when he decided to leave the team, you couldve kept them, i guess, but he decided to leave and go to the tampa bay team. And they won the super bowl his first year. Did you say i shouldve kept him or i made a longterm position and im ok with it. I would always talk to him and he would take less money to play for the patriots. We have a salary cap. I always assured him that whatever money i did not pay him was not going into my pocket, it was going to players who would be around him and if we won those kind of trophies then he would be the biggest beneficiary for the rest of his life, which, in fact has happened. If the patriots cant win a super bowl, i am always rooting. If we are out of it, im rooting for tom brady. After being with us for 20 years, we could have franchised him or done other things. I said to him when he did his last contract two years before, that at year 20 he would decide whether he would stay with us or not. I think he had earned that right. And for his own personal reasons he felt it was best move on. You also have the most successful coach practically in football history, bill belichick. You brought him back about 20 years ago, he had been coaching at the new york giants and you brought him back as the head coach. Been with us for 24 years. Maybe somebody coach 24 years in one team, because he was the owner, six super bowls, 24 years, is he going to stay for another x number of years or can we stay forever . He has to decide whats right for him. He said wait a minute, you paid 25 million, hes paying 75 million. You will still own the stadium. Youll get another team. I said no. Lets talk about your background, where were you born, you were probably raised in massachusetts. I still park my car here. But i grew up in massachusetts, went to public schools. Were you an athlete . I like to think i was an athlete, my favorite sport was football, but we observed the sabbath and unfortunately in high school i could not play football because of that. And i was able to get a full academic scholarship to Columbia College and i went there and played football there. Just loved the game, and realize how football and life is the greatest Training Ground for people in business and life or anything. What did you do after you graduated from columbia . I was privileged to go into Harvard Business school. After that, what did you do . My fatherinlaw had a couple box plants and he wanted me to join them. I did not want to. I wanted to go into business for myself. My father advised me, since my wife at the time, was the equivalent of an only child that i should do that. And out of respect, which i did, i did it for two years, and i was asked what i could do to stay, and i would want to buy into the company, i would did not want to be working for other people even if they were relatives. And i was able to do a leveraged buyout. You are in the private equity world. I started on my own, Interest Rates were favorable. And i bought half of the company and there was an opportunity to take over a paper mill up in canada and i decided i wanted to do it. And i offered my fatherinlaw half the company, he passed on it. I did it, and 51 years later we have developed that into an International Company in 120 countries in the world, number six in paper and packaging. Number six, youre not going to take a public or sell it . Not in my lifetime. You not selling the patriots or the packing company, i guess you dont like to sell things. I really dont. Thats why you wouldnt be good in the private equity business. We like to sell things. I get emotionally attached, and to the people working there. We try to create a family environment where we are involved and we learned that people want to be part of something that is bigger than themselves. Lets talk about the team. I see today that someone writes a check that they have bought the team. Unfortunately for me, it was a much more complicated process. I had, there were 200 acres of parking own by one group, and i got that land under option in 85 that went to 95 and coincidentally, i bought the team in 1994. I was able to exercise the option. That option on the land was for parking and 1988, 1989, the stadium went into bankruptcy because of the Michael Jackson tour. At that time, victor owned to the team and he bid 17 million for the stadium. Ive been 25, the judge awarded to us. When i bought the stadium in 88, it had a lease that went until 01 with an operating covenant, which meant that the team could never move without our permission. And finally, in 1994, which was getting close to near the end of the lease, they wanted to move the team to st. Louis. I would not let the one who owned the team, he was part of the budweiser family, they had a publicly financed stadium in st. Louis, they wanted to move it, and i would not let them do that. Worked out ok for you. Your late wife was a little nervous, i guess. Before i went out to buy the team, she said what are you going to pay. I said well, right number is 150. I could go to 120, 122. And when i came back and told her that i went to 172, she went nuts. And the lawyer from st. Louis called me and said we will offeryou 75 million to let the lease expire, and let us move, and he called me at home and my wife heard that, she said wait a minute, you paid 25 million for this. He is paying 75 million. Hell still own the stadium. You get another team. I said no. I remember where i was a kid, my team, my Baseball Team was the boston braves. They played at this field. They moved and they never came back. And i was heartsick. That was why. It was not about the money, it was about the passion. You have had an interesting life, you have a great football team, all kinds of awards, what are you most proud of having achieved in your life . The most important thing to me is my family. And then, i would like to think we have done things to build bridges and bring people together. The whole role of social media and all that activity is great, but it makes people isolated and alone and only getting one point of view, we are lacking a sense of empathy. I think that people like myself, its important that just this country, we keep the American Dream alive. That everybody has a chance to go to school and get educated properly. Have Proper Health care and can dream their dream. And this bigotry and hatred thats coming in, we shut that down and try to create great Economic Opportunities for everyone. It is a dream, we have a lot of work to do. But i want to spend my time doing that. One of the other things you are passionate about is the need to fight antisemitism. You created a foundation against antisemitism to fight against it. Why are you so passionate about that cause and is antisemitism on the rise . Antisemitism is on the rise, and it is very disturbing, because it is symbolic of it starting with antisemitism, then that hatred goes against every other minority community. Whether its the black community, the lgbtq , or the asian community. And you know, the jewish people in this country represent a little over 2 of the population. But they receive over 50 of the religious hate crimes. There are many things going on in America Today that remind me of what went on in nazi germany in the 1930s. Book burning in nazi germany where they cannot read Albert Einstein or helen keller or other kinds of books. This is america, the greatest country in the world. Those kinds of things should not be going on. You have a pin on you, that pin is for your foundation. What does it represent . It is a blue square where we wanted to front something that symbolized pushing back against hatred. That is a symbol of unity and solidarity against all kinds of hate. Im technologically incompetent, but even i can get this. Blue, this little emojis is on everybodys cell phone and ipad, and you could put on. Every message, every email i send has this little blue square. You have made a very large contribution to this foundation to help people and help people know about it. And other people or contributing as well. We have had amazing support. Our family has now committed over 75 million to it. Bank of america has committed 10 million. There are many families who made sevenfigure gifts, i should not say their names, unless they give us permission. But we touched a nerve. There is something going on in this country where people want to push back and are looking for a vehicle. I think this little blue square is i hope it goes viral and pushes back against all hatred and bigotry and lets us preserve the American Dream that i think both you and i have experienced. David lets talk about israel. You were awarded what is called the jewish nobel prize, the genesis prize, for contributions made to israel and the jewish people over many many years. Did you ever visit israel as a young person, was that very important to you, or were you just not that connected to israel . When i got married, someone gave us a honeymoon gift of a trip to the holy land. I went there. In 1963. When the country was 15 years old. And i have watched the advancement, you know, that was 60 years ago. Wow. And the country is amazing. I think what israel has done, technologywise and the contributions it has made have been tremendous. The secret to your success is prayer. Say you have been praying a lot. Prayer, spirituality, and giving thanks to the almighty god. And understanding how privileged we are and if we have our health and can pay our bills. How many grandchildren do you have . Eight grandchildren. Do they come to the games . That is the one thing and why i would never sell this or do anything, as your family gets dispersed, and everybody goes different places, its the one thing, i used to take my sons to the games, i used to get a lot get them out of Religious School on sundays without their mothers knowledge, and we would come in and tailgate there, and spend the day there, and get to know all of our neighbors who sat in the seats around us. Lasting memories. The David Rubenstein show, peertopeer conversations, is sponsored by wells fargo. We are helping our clients forge what is next. Is it possible to fall in love with your home. Before you even step inside . Discover the Magnolia Home james hardie collection. Available now in siding colors, styles and textures. Curated by joanna gaines. Francine welcome to the best of the transition forum. Im francine lacqua. Bringing together Business Leaders to focus on whats been achieved in transition finance and propel continuing action