Jerry Michael Reinsdorf, born February 25, 1936, is an American sports executive and businessman, owner of the Chicago Bulls and Chicago White Sox. A former IRS tax attorney, he made his fortune in real estate. He led the Bulls to six NBA Championships and the White Sox to a 2005 World Series win.
Known for his anti-labor union stance, he influenced salary cap and revenue sharing policies. In 2024, his White Sox lost 121 games, sparking criticism. He entered the Basketball Hall of Fame in 2016.
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Jerry Reinsdorf Net Worth
Jerry Reinsdorf has a net worth of $2 billion. He and Michael Jordan always shared an amicable relationship. When Jordan announced his first NBA retirement to pursue professional baseball, Jerry was fully supportive and offered him a minor-league contract with the White Sox.
Additionally, Reinsdorf continued paying Michael his full $3 million NBA salary, as a gesture of appreciation for all Jordan had contributed personally and professionally. This decision highlighted Reinsdorf’s loyalty and respect toward one of basketball’s greatest legends.
Early Life
Jerry Reinsdorf was born to a Jewish family in Brooklyn, New York. He attended Erasmus Hall High School and witnessed Jackie Robinson break the color barrier with the Brooklyn Dodgers. He earned a bachelor’s degree from George Washington University, joined Alpha Epsilon Pi, and moved to Chicago in 1957.
Reinsdorf became a CPA, lawyer, mortgage underwriter, and certified appraiser. He leveraged a University of Chicago Law School scholarship offer to secure one from Northwestern University School of Law. His father was a sewing machine salesman.
Career
Jerry Reinsdorf worked as an IRS lawyer after graduating from Northwestern in 1960. His first case involved Bill Veeck, then-owner of the White Sox. In 1964, he entered private practice, specializing in real estate partnership tax shelters.
sold his real estate interests in 1973 and founded Balcor, raising $650 million for real estate investments. In 1982, he sold Balcor to Shearson Lehman Brothers, part of American Express, for $102 million, but remained President of the company for several years after the sale.
Personal Life
In 1956, while attending George Washington University, Jerry Reinsdorf married Martyl Rifkin (March 4, 1936 – June 28, 2021).
She was born in Denver, Colorado, to Milton and Vivette Rifkin (née Ravel). The Rifkin family moved to Chicago in 1944, where Martyl attended Morgan Park High School. Their marriage produced four children: Susan, David, Michael, and Jonathan.
How do I email Jerry Reinsdorf?
To email Jerry Reinsdorf, use the email address [email protected].
Conclusion
Jerry Reinsdorf’s journey to financial success is a story of strategic investments and astute management in the sports industry. His role as a team owner has not only led to significant personal wealth but has also had a lasting impact on the sports of basketball and baseball.
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FAQs about Jerry Reinsdorf Net Worth
- What is Jerry Reinsdorf’s net worth? Jerry Reinsdorf’s net worth is approximately $2 billion.
- Why is Jerry Reinsdorf famous? He is famous for owning the Chicago White Sox and the Chicago Bulls, and for his influential role in the world of professional sports.
- What are some of Jerry Reinsdorf’s career highlights? Highlights include winning six NBA Championships with the Bulls and a World Series title with the White Sox.
- Is Jerry Reinsdorf married? Yes, Jerry Reinsdorf is married.
- How did Jerry Reinsdorf build his wealth? His wealth was built through his ownership of major sports teams, real estate investments, and various business ventures.
