Rank #1835
Jerry Reinsdorf
Net worth $2.3B
Sports teams · United States
- Born
- Feb 25, 1936
- Age
- 90
- Source
- Sports teams
- Residence
- Chicago, Illinois
- Citizenship
- United States
- Marital status
- Married
- Children
- 4
- Education
- Bachelor of Arts/Science, George Washington University; Law Degree, Northwestern University
Net worth over time
Biography
- Jerry Reinsdorf made a fortune in sports, buying Chicago teams in the 1980s and watching values skyrocket over the next three decades.
- Reinsdorf led a group that bought the Chicago White Sox baseball team in 1981 for $19 million. He still owns an estimated 19% stake.
- He and investors bought a controlling stake in the NBA's Chicago Bulls for $9.2 million in 1985, one year after the team drafted Michael Jordan.
- Four decades and 33 years later, the Bulls are worth $5 billion; Reinsdorf owns an estimated 40%.
- He made his first fortune in real estate, cofounding Balcor Company in 1973 and selling it nine years later to American Express.
- Reinsdorf reportedly got his start as a tax attorney for the IRS.