Robyn Denholm’s bold vision to shatter glass ceiling through basketball

When Robyn Denholm is not chairing Tesla and overseeing Elon Musk, she turns to basketball, saying there are lessons to be learned – including bringing more gender equality to boardrooms.

Robyn Denholm with her fellow Hoops Capital co-owner Luc Longley, left, and Shippit co-founder William On are encouraging other tech companies to get behind basketball, including women’s basketball. Picture: Nikki Short

When Robyn Denholm is not chairing Tesla and overseeing its colourful chief executive Elon Musk, she turns to basketball and is encouraging other tech leaders to do the same, saying there are valuable lessons to be learned.

Ms Denholm has launched a new sponsorship program at Hoops Capital, owner of the Sydney Kings and Flames, and said the clubs provided a lesson to business leaders about how to smash the so-called glass ceiling.

“One of the reasons I chose to become involved with Hoops Capital is their unique commitment to equality and representation,” Ms Denholm told The Australian.

“We’re the only club in basketball to field both elite women’s and men’s teams, and that sends a powerful message about what leadership in sport and business should look like.”

Ms Denholm is majority owner of Hoops Capital and also the Women’s National Basketball League. She bought about 49 per cent of the league in a deal sources valued at $20m-$25m last year.

Ms Denholm said the sponsorship program aimed to further cement the nexus between sport and business, providing “intimate networking events” and “exclusive access” to the basketball teams.

“By creating direct access to world-class coaches, athletes and high-performance environments, we hope to spark new ideas and deeper collaboration across Australia’s business ecosystem,” she said. “I’m constantly struck by the parallels between elite sport and business leadership.

“Brian Goorjian, our Sydney Kings head coach, speaks powerfully about how to build culture, work through adversity, and unlock potential. These are the same challenges CEOs and founders face every day.

“When you have someone with Olympic and championship-winning credentials offering those insights, the opportunity to learn from that is extraordinary.”

Robyn Denholm, with Luc Longley, is a big basketball fan, saying there is a nexus between the sport and business. Picture: Nikki Short

Mr Denholm’s wealth is estimated at more than $1bn after she sold almost $US200m worth of Tesla shares in the six months to May 31, placing her firmly on The List – Australia’s Richest 250.

She grew up in southwest suburban Sydney, working at her parents’ service station before starting a stellar career in finance, initially at Toyota in the 1980s, then moving to the US in the mid-1990s to become vice-president of finance at computer components and software company Sun Microsystems. Ms Denholm later returned to Australia where she served as Telstra’s chief financial officer.

Recent challenges have included persuading Tesla investors to approve Mr Musk’s pay package, valued at $US46bn – the biggest ever granted to a chief executive of a US publicly traded company – 12 months ago. Last month she denied a Wall Street Journal report that Tesla had sought out an executive recruiter to find a replacement for Mr Musk after the company had become the target of protesters over the world’s richest man’s support of Donald Trump.

Robyn Denholm and Elon Musk have forged one of the most successful tech partnerships.

Mr Musk told investors in April that he would spend more time at Tesla, before his relationship with Mr Trump imploded after he branded the US President’s sweeping tax and spending bill a “disgusting abomination”.

Meanwhile, Hoops Capital has been going from strength to strength off the court. Last year, it hosted events including a panel, focusing on women in sport, featuring Harvey Norman chief executive Katie Page and former Olympian and WNBL champion Lauren Jackson.

“Their reflections on resilience and legacy were a powerful reminder that the values we celebrate in sport are equally critical in the business world,” Ms Denholm said.

And Ms Denholm and Mr Musk’s have forged one of the most successful tech partnerships, with Tesla’s share price having soared from about $US21 to more than $US316 – a 1356 per cent increase – since she was appointed chair in late 2018.

Shippit – an e-commerce delivery platform worth $300m – is one of the companies to sign up to Hoops Capital’s “Business to Basketball” program.

Ms Denholm is also former chair of the Tech Council of Australia – a role she passed on to ­Atlassian co-founder and former co-chief executive Scott Farquhar last year. She said Shippit was an innovative company that viewed the program as more than a sponsorship deal. “They want to contribute to and grow with this community, and that’s exactly the kind of collaboration we’re looking to foster,” she said.

Shaneice Swain of WNBL team the Sydney Flames. Picture: Getty Images

Shippit co-founder and co-CEO William On said: “The focus on inspiring the next generation of elite athletes and founders is something that really resonates with us and the whole community will benefit from.

“There’s so much opportunity to shape the future of business and sport, and I’m proud that Shippit is a part of this journey with Hoops Capital.”

Ms Denholm joined fellow member of The List – Australia’s Richest 250 and NBL owner Larry Kestelman in buying a majority stake in the WNBL from governing body Basketball Australia in June last year. Under the new ownership structure, the consortium will take control of the league, with the NBL to operate the WNBL.

Fellow Hoops Capital co-owner and basketball legend Luc Longley said businesses would have a lot to gain from being involved in the program. “I think people will be a bit surprised,” said Longley, who is also the club’s special adviser. “If people are interested in listening to people talk about things they’re experts at, then you’ll love it.

Applications are now open to join the inaugural 2025-26 Business to Basketball program.

Hoops Capital chief commercial officer Amanda Farag, who co-designed Business to Basketball, said: “It’s an exciting invitation to join us for the launch of this program in our foundational year and build this together.”

Originally published as Robyn Denholm’s bold vision to shatter glass ceiling through basketball