William DeWitt, Jr.

William Orville DeWitt Jr. (born August 31, 1941) is an American businessman who is currently the managing partner and chairman of the St. Louis Cardinals, a professional baseball franchise which competes in Major League Baseball (MLB). The Cardinals have won two World Series — in 2006 and 2011 — during DeWitt's time as owner. In addition to the Cardinals, DeWitt has also owned or invested in the Cincinnati Stingers hockey club, Baltimore Orioles, the Cincinnati Reds and the Texas Rangers. Business interests outside baseball include Reynolds, DeWitt & Co., which owns Arby's franchises and invests in the U.S. Playing Card Company and the petroleum company Spectrum 7. Early life DeWitt, the son of longtime Major League Baseball executive Bill DeWitt and Margaret H. DeWitt, was born in St. Louis, Missouri, where he attended St. Louis Country Day School. He was around baseball constantly as a child; his father owned the St. Louis Browns and Cincinnati Reds, and DeWitt served as a Browns batboy. On August 19, 1951, the little person Eddie Gaedel served as a pinch hitter at a Browns game, wearing DeWitt's jersey to the plate. He earned a bachelor's degree from Yale University in economics in 1963 and an M.B.A. from Harvard University in 1965. Early business ventures (1966–95) DeWitt was part of an investment group led by Francis L. Dale that purchased the Cincinnati Reds for $8 million from his father, Bill Sr., on December 5, 1966. DeWitt joined Cincinnati investment firm Gradison & Co. in 1974. In 1979, along with Mercer Reynolds, he founded the investment firm Reynolds, DeWitt & Co. The firm owns 63 Arby's franchises, whose value has been estimated at $50.4 million and is an investor in Cincinnati-based U.S. Playing Card Company, with an estimated value of about $120 million. It also holds a $40 million stake in Newport Aquarium in Newport, Kentucky. DeWitt is also involved with DeWitt Capital Group, a private equity firm registered in 2012. DeWitt has been part owner of the Cincinnati Reds and the Baltimore Orioles.