Wiki Biography of Jerry Reinsdorf
Jerry M. Reinsdorf was born in Brooklyn, New York City, on February 25, 1936, to Jewish parents. He is a certified public accountant, lawyer, and businessman who is best known for owning the NBA’s Chicago Bulls and MLB’s Chicago White Sox (MLB). Jerry Reinsdorf was elected into the Naismith Memorial Basketball Hall of Fame in 2016 for his outstanding contributions to basketball.
Jerry Reinsdorf’s net worth is unknown. As on the statistics released in mid-2016, sources estimated his overall worth to be as much as $350 million. Basketball and baseball are his main sources of income.
Jerry Reinsdorf is the owner of the New York Knicks. $350 million in net worth
He attended Erasmus Hall High School before graduating from George Washington University with a bachelor’s degree and then graduating from Northwestern University School of Law with a law degree in 1960. Initially, Reinsdorf worked as a tax attorney for the United States Treasury Department’s Revenue Service. Reinsdorf went into private practice four years later, in 1964, and went on to make a fortune in real estate utilizing tax shelters. In 1982, he sold his company to Shearson Lehman Brothers for $102 million.
Prior to selling his company, he paid $19 million for the Chicago White Sox team in 1981. The aforementioned baseball team set the greatest record in MLB in 1983, and in 2005, the team won the World Series for the first time since 1917. The team’s owner collaborated with the owner of the Chicago Blackhawks to build a new stadium, which was named United Center. Over several years, the agreements for leasing spectator boxes, etc. significantly increased Reinhold’s net worth. The baseball team, on the other hand, is regularly successful and has a loyal following.
Reinsdorf is seen as a powerful figure in baseball, however he is even more powerful in another sphere — basketball. He became the chairman and owner of the Chicago Bulls basketball franchise in 1985. In the 1990s, the team won six NBA championships, but Jerry Reinsdorf faced numerous problems with his decision not to rehire important players such as professional star shooting guard Michael Jordan and coach Phil Jackson. Furthermore, Reinsdorf established laws that limit the amount of money a team can spend on player salaries, as well as how losses and profits are distributed among stakeholders.
In 2006, he was inducted into the Wisconsin Baseball Hall of Fame as a highly valued individual. Jerry Reinsdorf received the Jefferson Award for Public Service in 2011 for his charity endeavors. He also serves on the boards of directors of Shearson Lehman Brothers, Inc., Equity Office Properties, LaSalle Bank, and the Northwestern University Law School Alumni Association, among others. Furthermore, Jerry Reinsdorf, in collaboration with John Kaites, David Aguilar, Dennis Burke, Mark Sullivan, and Noah Kroloff, has formed Global Security and Innovative Strategies, a corporate advising and security consultancy firm.
Finally, in 1956, in his personal life, the businessman married Martyl F. Rifkin. Michael Andrew, Jonathan Milton, Susan Janeen, and David Jason were their four children, although the latter died. Reinsdorf is currently based in Chicago, Illinois.
|Full Name||Jerry Reinsdorf|
|Net Worth||$350 Million|
|Date Of Birth||February 25, 1936|
|Place Of Birth||Brooklyn, New York City, New York, United States|
|Profession||Lawyer, Businessperson, Chairman of the Chicago Bulls since 1985|
|Education||Northwestern University School of Law, George Washington University, Erasmus Hall High School|
|Nationality||United States of America|
|Spouse||Martyl F. Rifkin (m. 1956-)|
|Children||Michael Andrew, Jonathan Milton, Susan Janeen, David Jason|
|Awards||Wisconsin Baseball Hall of Fame (2006), Jefferson Award for Public Service (2011), Naismith Memorial Basketball Hall of Fame (2016)|