#1790
Jerry Reinsdorf
Overview
- Source of Wealth
- Sports teams
- Industry
- Sports
- Residence
- Chicago, Illinois
- Education
- George Washington University (Bachelor of Arts/Science)Northwestern University (Law Degree)
- Marital Status
- Married
- Children
- 4
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.
About
Reinsdorf reportedly got his start as a tax attorney for the IRS.