I’ve been watching, horrified and fascinated, as Pablo Torre has, on a weekly basis, been exposing more alleged salary cap circumvention shenanigans on the part of the richest team owner in professional sports, Steve Ballmer. But before I lay out the dramatis personae and the various deals, I want to say here that a rule of thumb of mine has evolved from:
Every billionaire is a policy failure.
to:
Billionaires are equivalent to loose nukes.
(in their threat to civil society). I think this post, All the Things That You Need a Billion Dollars to Buy Are Bad, sums it up nicely.
All of the stuff that you need more than a billion dollars to buy is stuff that it is bad for you to be able to buy. Stuff that we do not want you to be able to buy. Unfair power over other people. The ability to impose your will on others. The ability to override the democratic process. It is understandable that people think that fairness demands that people be allowed to achieve the American dream of getting rich and living a lavish lifestyle. Fine. But a billion dollars—or ten billion, or a hundred billion, or four hundred billion—are not necessary for that lavish lifestyle. The only thing that that amount of wealth is necessary for is the domination of others. In other words, at a certain point, wealth shifts from being something that enables freedom to something that can only be used to take freedom away from the public.*
Don’t get me wrong – (potentially) circumventing the NBA salary cap is not on the same plane as shuttering USAID and causing thousands? millions? of deaths, but this story encapsulates a lot of the billionaire loose nuke dynamic. It’s got:
- Steve Ballmer, ex-CEO of Microsoft, owner of the LA Clippers, and per Wikipedia, the 9th richest person in the world – personal wealth = ~151 billion US dollars.
- Kawhi Leonard, NBA superstar and famously frugal individual.
- Andrei Cherny and Joseph Sanberg, founders of Aspiration, a carbon credit broker, and both big wheels in the Democratic party establishment (I highlight this because of my huge frustration with the Dem consultant bullshit that makes registered Democrats furious with the big D wheels).
What finally pushed me to write this post – it’s been kicking around in my head for a couple weeks – was this skeet:
Will I be the first to suggest the carbon offsets worked exactly as planned: they delayed real action for another 25 years
— Prof. Ian Walker (@ianwalker.bsky.social) October 6, 2025 at 1:32 PM
Linked study here: Are Carbon Offsets Fixable?
This article provides a systematic review of the literature on carbon offsets. A growing number of studies have found that the most widely used offset programs continue to greatly overestimate their probable climate impact often by a factor of five to ten or more. Credit quality has remained a problem since the inception of carbon credits, despite repeated efforts to address the core challenges of additionality, leakage, double counting, environmental injustice, verification, and permanence. Combined, these issues have led many to conclude that overcrediting in carbon offsets is an intractable problem.*
Aspiration, the carbon credit broker, was multiple layers of scam – they sold credits for 5 to 10 times what they were “worth”, didn’t follow through to see if trees were really being planted, and, as climate activists have been telling us, were selling stuff that just plain doesn’t work.
On to Pablo Torre! Pro sports have, built in to their collective bargaining agreements with player’s unions, salary caps: limits on individual team’s total player payroll. The intent is to level the playing field for team owners; to prevent a single super wealthy owner from buying league dominance, And the cap includes anything of value a team give to a player – no free tickets,no nothing. Aspiration was, briefly a major sponsor of Ballmer’s team, the LA clippers. While looking through Aspiration’s bankruptcy filing, Pablo noticed that Aspiration was paying BIG endorsement money to Kawhi Leonard. And as he dug deeper, things looked worse. And worse. And worse. There are plenty of summaries of Pablo Torre’s findings out there – I’m not going to duplicate them – tl;dr a case can be made that Ballmer funneled millions of dollars to Kawhi via Aspiration.. I am going to embed/link the relevant Pablo Torre Finds Out episodes. If you are at all interested, give them a watch – super entertaining, fascinating, and (re the behavior he uncovers) appalling.
Before we get there, I had 2 big takeaways:
- If the NBA finds that Ballmer did indeed circumvent the cap, the max financial penalty they can hit Steve with, though huge for a non billionaire, would not be noticed by the 9th richest guy in the world.
- The appetite of the other owners for penalizing Ballmer may be limited, He’s rich and the lesser richies who own teams want to be him! He’s rich enough to buy the entire league! That kind of moolah distorts notions of right and wrong.
Episode links below.