Detroit Tigers, Red Wings Owner Chris Ilitch’s Net Worth Could Take a Hit After His Divorce

Outside of Michigan, and Detroit in particular, the name Chris Ilitch probably doesn't mean much to most people. He might not have immediate name recognition, but what he and his family have contributed to that state and the world can't be denied. Fans of the fourth most popular pizza chain in the United States have Chris's parents to thank for Little Caesars. That's right, their dough came from dough.

What started as a small restaurant in a strip mall in Garden City, Mich., quickly grew into an international chain. During that time, Chris's parents had seven children which is kind of like franchising your own family. Chris may be the youngest son, but that didn't stop him from eventually becoming president and CEO of Ilitch Holdings, Inc., which owns two sports teams. What is Chris's net worth? Here's what we know.

In February 2017, Chris was officially named the successor to Ilitch Holdings, Inc., upon the death of both of his parents, per the Detroit Free Press. At the time, his parents had a combined net worth of $6.1 billion which means Chris is probably worth roughly half of that. After earning his bachelor's degree in business administration from the University of Michigan, Chris briefly worked at IBM before joining the family business.

Chris initially managed one Little Caesars restaurant in Walled Lake, Mich. before branching out to locations in the Chicago area as well as Detroit. A little over a decade later, Chris and his sister Denise were named co-presidents of Ilitch Holdings in 2000. Denise resigned four years later after which, Chris became the sole CEO.

By the time Chris was running the show, Ilitch Holdings had owned the Detroit Red Wings hockey team for 22 years and the Detroit Tigers baseball team for 12 years. After the death of his father in 2017, Chris took principal control of both sports teams. Beyond sports entertainment, Ilitch Holdings also deals in real estate investments and food manufacturing. If only his personal life was as successful as his business life.

According to the Detroit Free Press, Chris and his wife Kelle filed for divorce in the summer of 2024. It's not known if they have a pre- or post-nuptial agreement. James Quigley of Chicago-based Beermann LLP told the outlet that this probably wouldn't affect the cash flow of either franchise.

"These franchises are so valuable and the ownership or transfer of them in the family is going to be so closely guarded that even a loving spouse of 20-something years is going to be kept out of that."

An attorney for the former couple issued a statement saying, "We have settled this matter and it will have no impact on the ownership or operation of the Ilitch businesses." Regarding their family, Chris and Kelle promised to transition into "separate lives and do so with love, friendship, and a commitment to our children."