His grandfather, Benjamin Holt, developed the first track-type tractor, and Peter Holt went on to repurchase the family business, Holt Machinery, Inc. Peter Holt purchased the San Antonio Spurs in 1993 for $76 million and helped grow the team’s popularity within the community, drumming up support and financial backing for a new arena and training facility. Under Holt’s ownership, the Spurs have won NBA championships in 1999, 2003, 2005, 2007. Today the Spurs are worth more than $500 million. Holt has also purchased the Austin Toros, the San Antonio Rampage, and the San Antonio Silver Stars.