Jerry Reinsdorf Net Worth is$350 Million
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Profession: Lawyer, Businessperson
Date of Birth: Feb 25, 1936
Country: United States of America
Jerry Reinsdorf is a lawyer, born in Brooklyn, New York, who has an estimated net worth of $350 million dollars. Jerry Reinsdorf is the owner of both the Chicago White Sox and the Chicago Bulls. He has been the head of both teams for 20 years and has met with both great success and controversy regarding his handling of key team members, most notably Phil Jackson and Michael Jordan.
Jerry M. Reinsdorf (born February 25, 1936) is a CPA, lawyer and an owner of the MLB's Chicago White Sox and the NBA's Chicago Bulls. He started his professional life as a tax attorney with the Internal Revenue Service. He has been the head of the White Sox and Bulls for over 20 years.
He made his initial fortune in real estate, taking advantage of the Frank Lyon Co. v. United States decision by the United States Supreme Court which allowed economic owners of realty to sell property and lease it back, while transferring the tax deduction for depreciation to the title owner.
As the owner and Chairman of the Chicago Bulls since 1985, he has turned the franchise into a lucrative business that won six NBA Championships in the 1990s (1991-1993 and 1996-1998). He is controversial for his involvement (along with Jerry Krause) in breaking up the championship team by not hiring back key personnel such as Phil Jackson and Michael Jordan. He hired Jordan as a baseball player during his sabbatical from basketball. He also moved the Bulls from Chicago Stadium to the United Center.
As a baseball owner since 1981, he has brought success to the White Sox franchise. The franchise made the playoffs in 1983 for the first time since 1959 and won the World Series in 2005 for the first time since 1917. He moved the White Sox from Comiskey Park to New Comiskey Park and then renamed the new park U.S. Cellular Field. In both sporting endeavors, he has developed a reputation as an anti-labor union hardliner. Since the early 1990s, he has been considered one of the most, if not the most, influential basketball owners. He has been influential in instituting the salary cap and revenue sharing. He has also shaped the modern era of basketball by organizing the lucrative internet arm of basketball.
Reinsdorf was born to a Jewish family in Brooklyn, New York. He attended Erasmus Hall High School in Brooklyn, and he was the son of a sewing machine salesman. A life-long baseball fan who g

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Jerry Reinsdorf Latest News

Jerry Reinsdorf's 'mellowing' helped bring 2020 NBA All-Star Game to Chicago

Adam Silver was a law student at the University of Chicago when Chicago last hosted an NBA All-Star Game in 1988, which Silver attended at the Stadium. The dunk contest for the ages that Michael Jordan and Dominique Wilkins staged still resonates with the ...
Posted: November 10, 2017, 5:55 pm

White Sox reportedly making strong bid for Manny Machado

Then, Vinnie Duber of NBC Sports Chicago joins the podcast to talk about Jerry Reinsdorf saying it will be “a joke” if Jim Thome doesn’t make the Hall of Fame on the first ballot and why the White Sox likely won’t trade for Manny Machado.
Posted: December 14, 2017, 12:05 am

Jerry Reinsdorf: 'It would be a joke' if Jim Thome's not a first-ballot Hall of Famer

LAKE BUENA VISTA, Fla. - Former White Sox slugger Jim Thome is on the Hall of Fame ballot for the very first time. Ask him about his chances of getting into Cooperstown when the announcement is made next month, and the man who crushed 612 career home runs ...
Posted: December 13, 2017, 11:56 am
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