The world's wealthiest are finding new ways to deploy their fortunes beyond luxury cars and yachts—and the latest craze is soccer. Greg Penner, the multimillionaire chairman of Walmart, just added a European league to his growing portfolio of sports investments from football to baseball. A consortium backed by some of private equity's top billionaires and ultra-rich investors has agreed to buy a 42% stake in Spanish soccer club Valencia CF, now valued at €1.2 billion ($1.34 billion). The deal was led by Pitchwise Holdings, whose notable investors include KKR co-founders Henry Kravis (worth $17.4 billion) and George Roberts (worth $17.7 billion).
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