Jerry Reinsdorf’s profile picture

Jerry Reinsdorf

Jerry Reinsdorf’s profile picture
Net worth 2018: $1.44 Billion
Industry: Sports
Residence: Chicago, Illinois
Country: United States
BirthDay: 25 February 1936
Sigh: Pisces
Children: 4
Education: Bachelor of Arts / Science, George Washington University; Law Degree, Northwestern University
BIOGRAPHY

Jerry Reinsdorf was bornon 25 February 1936 in Chicago, Illinois, United States. Jerry Reinsdorf is #1602 in List Billionaires People In The World. Jerry Reinsdorf made a fortune in sports, buying the Chicago Bulls and Chicago White Sox in the 1980s and watching his fortune skyrocket as the value of sports teams shot up over the next three decades. Reinsdorf and other investors bought a controlling stake in the Bulls for $9.2 million in 1985, one year after the team drafted Michael Jordan. Six championships and 32 years later, the Bulls are worth $2.5 billion, and Reinsdorf owns an estimated 40% of the team. He also has an estimated 19% stake in the White Sox, valued at $185 million. A Brooklyn native, Reinsdorf went to George Washington University before moving to Chicago in 1957 to attend law school at Northwestern. He hasn't left The Windy City since. He made his first fortune in real estate, cofounding Balcor Company in 1973 and selling it nine years later to American Express.

NET WORTH STATISTIC
2015

$1.3 Billion

2016

$1.3 Billion

2017

$1.4 Billion

2018

$1.44 Billion

TIMELINE
2016

Einhorn continued as Vice Chairman of the White Sox until his death in 2016

2011

In 2011, Reinsdorf received a Jefferson Award for Public Service

2010

On March 24, 2010, it was reported that Reinsdorf was once again a possible buyer for the Phoenix Coyotes

2009

  This chapter in Ruttman's oral history, based on a January 15, 2009 interview with Reinsdorf conducted for the book, discusses Reinsdorf's American, Jewish, baseball, and life experiences from youth to the present

2008

Cellular in a $68 million 20-year deal that funded a 7-year $85 million overhaul of the stadium that ended prior to the 2008 Major League Baseball season

2006

Reinsdorf was inducted into the Appleton, Wisconsin Baseball Hall of Fame on August 5, 2006 in a ceremony at Fox Cities Stadium prior to that evening's game between the Midwest League Wisconsin Timber Rattlers and Beloit Snappers

2005

Even his most successful baseball team was not highly paid: when the White Sox won the 2005 World Series, Reinsdorf had the 13th highest payroll of the 30 Major League Baseball teams

2004

As recently as 2004, the Bulls continued to be the NBAs most profitable team, earning $49 million in operating income and having an estimated valuation of $356 million

2003

Cellular Field in 2003, and once again to Guaranteed Rate Field in 2016

2001

Prior to the seven-year overhaul, the 2001 White Sox barely broke even financially with a $700,000 operating profit on revenues of $101

2000

Reinsdorf is largely responsible for the revenue sharing of the internet rights of Major League Baseball in which all teams have shared equally since Major League Baseball Advanced Media (known as BAM) was established in 2000

1998

Many note that Phil Jackson's decision not to return as coach and Jordan's retirement during the 1998–99 NBA season lockout impacted the decisions of several players on whether to return to Chicago

1996

During the strike, Reinsdorf, who was an anti-union hard-liner, was so pessimistic that he did not expect baseball to resume until the 1996 Major League Baseball season

1995

Reinsdorf had just re-signed Jordan after the 1995–96 NBA season

1994

When the United Center opened in 1994 all of the skyboxes were leased for up to eight years

1992

Reinsdorf was also said to be largely responsible for the ousting of Fay Vincent as the Commissioner of Baseball in 1992

1991

He moved the White Sox from Comiskey Park to New Comiskey Park in 1991, which was renamed U

1990

In the early 1990s he was able to get new stadiums (United Center and U

1989

In 1989, the team signed Phil Jackson as the final piece of the championship puzzle

1988

Reinsdorf is a powerful baseball owner who in 1988 stopped the sale of the Texas Rangers and later influenced the sale of the Seattle Mariners

1987

From November 20, 1987 through Jordan's 1999 retirement, the Bulls sold out every game

1985

Edward Gaylord and Gaylord Entertainment Company had first attempted to buy the Rangers in 1985

1983

The White Sox have won American League regular season Division Championships in 1983, 1993, 2000, 2005 and 2008 under Reinsdorf and they won the 2005 World Series

1982

He sold Balcor in 1982 for $102 million to Shearson Lehman Brothers, the investment banking and brokerage arm of American Express

1981

After Reinsdorf purchased the team in 1981, the team experienced erosion of fan and media support which led to moving the team

1980

In the 1980s, Reinsdorf, Bud Selig and the American League President colluded to dissuade the Philadelphia Phillies from signing Lance Parrish who was a Detroit Tigers free agent

1973

He sold his business interests in the real estate partnership in 1973 and formed Balcor, which raised US$650 million to invest in buildings under construction

1972

Fishman had been illegally blocked from purchasing the team in 1972

1960

His first job after graduating from Northwestern in 1960 was a tax delinquency case of Bill Veeck who at the time owned the White Sox

1936

Reinsdorf (born February 25, 1936) is a CPA, lawyer and an owner of the NBA's Chicago Bulls and the MLB's Chicago White Sox

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