Gerald John Colangelo Wiki Biography
Jerry Colangelo was born on November 20, 1939, in Chicago Heights, Illinois, to parents of Italian and American ancestry. He is a businessman and sports executive best known for serving as the current special advisor to the Philadelphia 76ers, a professional basketball team in the NBA. He is also a previous owner of notable teams such as the Arizona Rattlers, Phoenix Mercury, and others, as well as the director of the USA Basketball national team. Since the late 1970s, he has had a successful career.
So, have you ever wondered what Jerry Colangelo’s net worth is? According to sources, Jerry’s net worth as of mid-2016 was projected to be in the neighborhood of $300 million. Obviously, his successful involvement in the sports industry accounts for the majority of his earnings. Another source of income is the sale of his autobiography, “How You Play The Game.”
Jerry Colangelo Net Worth $300 Million
Jerry Colangelo was raised in a middle-class household. He went to Bloom Township High School, where he was a member of the baseball and basketball teams. He enrolled in the University of Kansas after matriculation, but then switched to the University of Illinois, where he proceeded to play basketball for the Illinois Fighting Illini. Jerry garnered All-Big Ten honors as a result of his abilities, and in his senior year, he was named captain of the team. He earned a bachelor’s degree in physical education in 1962.
Jerry began his professional career shortly after graduating from college, when he joined the Chicago Bulls as a scout and later as an assistant to the director, which was the main source of his net worth at the time. However, he departed the Bulls in 1968 to become the general manager of the Phoenix Suns, becoming the sport’s youngest GM at the time.
His first few seasons as GM of the Suns were disappointing, but things changed later, and the Phoenix Suns became one of the NBA’s most recognizable franchises. With the club’s success, his net worth soared as well.
Jerry was the franchise’s owner from 1987 to 2004, when he sold it to Robert Sarver for $401 million, which included the clubs Phoenix Mercury and Arizona Rattlers, which he previously controlled. His net worth soared as a result of this.
Jerry became the director of the USA basketball national team in 2005, and the team would compete in the 2008 Beijing Olympics as well as the 2010 FIBA World Championship, which contributed significantly to his net worth. He was also named chairman of the Naismith Memorial Basketball Hall of Fame in 2009, a post he continues to occupy.
He is currently a special advisor to the Philadelphia 76ers, which has boosted his fortune.
Jerry has garnered numerous awards and recognitions throughout his career, including Executive Of The Year in 1977, 1982, 1990, and 1994 while playing for the Phoenix Suns. He was inducted into the Phoenix Suns Ring of Honor in 2008.
In terms of his personal life, Jerry Colangelo has been married to Joan for nearly 50 years and has four children, one of whom, Bryan Colangelo, is the President of the Toronto Raptors. Jerry is a very active philanthropist in his spare time, serving as chairman of the National Italian American Association.
|Date Of Birth
|November 20, 1939
|Place Of Birth
|Chicago Heights, Illinois, U.S.
|University of Illinois at Urbana–Champaign
|Bryan Colangelo, Mandie Okyere, Kristen Brubaker, Kathy Holcombe
|Illinois Basketball Hall of Fame, Naismith Outstanding Contributor to Men’s Basketball, Phoenix Suns Ring of Honor, NBA Executive of the Year Award