Jerry Reinsdorf is one of the most enduring and controversial figures in professional sports ownership. Throughout several decades, he has shaped the fortunes of two legendary Chicago teams—the Chicago White Sox and the Chicago Bulls—while earning a reputation as both a shrewd businessman and a tough negotiator.
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This article delves into his background, his path to success, and the ongoing debate about his legacy.
Table of Contents
Who is Jerry Reinsdorf?
Jerry Michael Reinsdorf was born in Brooklyn, New York, in 1936. As the son of a textile salesman, he had a middle-class upbringing. His passion for sports started early and would ultimately shape his path in life.
After graduating from George Washington University with a degree in accounting and Northwestern University Law School, Reinsdorf embarked on a career as a tax attorney with the Internal Revenue Service.
Jerry Reinsdorf Bio
| Attribute | Information |
|---|---|
| Full Name | Jerry Michael Reinsdorf |
| Date of Birth | February 25, 1936 |
| Birthplace | Brooklyn, New York, USA |
| Age | 88 years old |
| Known For | Ownership of Chicago Bulls (NBA), Chicago White Sox (MLB) |
| Professions | Lawyer, Real Estate Investor, Sports Team Owner |
| Education | George Washington University (B.A.), Northwestern University Law School (J.D.) |
| Net Worth (Approx.) | $2.4 billion |
| Marital Status | Married to Martyl Rifkin (1956-2021) |
| Children | Four: David, Michael, Susan, Jonathan |
How old is Jerry Reinsdorf?
Jerry Reinsdorf is currently 88 years old.
Career
Reinsdorf’s financial fortunes changed direction thanks to his tax expertise. He began successfully advising clients on utilizing real estate tax shelters.
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Recognizing the vast potential wealth this could offer, he leveraged his own tax acumen and became a real estate investor in the 1970s. This business ultimately built the foundation of the fortune he would utilize to enter the world of sports ownership.
How did Jerry Reinsdorf get famous?
Jerry Reinsdorf transformed his fortune into fame when he spearheaded a group that purchased the Chicago White Sox in 1981. With the White Sox languishing, Reinsdorf made his presence felt with bold moves and a desire to build a winning team.
This ambition later found an even bigger stage when his ownership group purchased the Chicago Bulls in 1985. With a young Michael Jordan ready to ascend to superstardom, Reinsdorf and the Bulls would create one of the greatest dynasties in sports history, winning six NBA championships in the 1990s.
Do Jerry Reinsdorf have kids?
Yes, Jerry Reinsdorf has four children.
Jerry Reinsdorf Net Worth
Reinsdorf’s current net worth is estimated at approximately $2.4 billion.
How did Jerry Reinsdorf get his money?
Reinsdorf amassed his wealth through three primary streams:
- Real estate: Investments and savvy tax strategies in the real estate sector formed the initial basis of his wealth.
- Chicago White Sox: Ownership of the team has grown in value significantly over the past few decades.
- Chicago Bulls: The success of the team during the Michael Jordan era turned the Bulls into an international brand, vastly increasing franchise value and revenue.
When did Jerry Reinsdorf buy the Bulls?
Jerry Reinsdorf and his ownership group purchased the Chicago Bulls in 1985.
Why are the White Sox leaving Chicago?
There are currently no confirmed plans for the Chicago White Sox to leave Chicago. However, concerns have simmered recently following proposals by Reinsdorf to explore possible suburban relocations or stadium redevelopments in order to enhance team revenues.
Who else owns the White Sox?
Jerry Reinsdorf is the Chairman of the Chicago White Sox and retains majority ownership control of the organization. While there are additional minority owners, Reinsdorf remains the most prominent figure and ultimately wields decision-making power.
Conclusion
The Reinsdorf era in Chicago sports has been filled with triumphs and controversies. While his financial success as a team owner is undeniable, his management style and perceived tight-fisted nature have elicited mixed reactions. Regardless, his place in Chicago sports history and the larger pantheon of major league owners is firmly established.
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FAQs about Who is Jerry Reinsdorf? The Sports Owner’s Major League Money
- Is Jerry Reinsdorf in the Hall of Fame? – Yes, Jerry Reinsdorf is a member of the Naismith Basketball Hall of Fame.
- What is Jerry Reinsdorf’s reputation? – His reputation is one of a successful but often divisive owner, praised for team successes but criticized for labor disputes and a business-first approach.
- Is Jerry Reinsdorf still active as an owner? – While less outspoken these days, he remains very involved in franchise decisions.
- Is Jerry Reinsdorf popular with fans? – Reactions are mixed, with some admiring his winning record and others finding him disengaged from the fan experience.
- How did Reinsdorf impact Chicago sports? – Reinsdorf’s era is a complex legacy—bringing both championships and business savvy, but also labor troubles and stadium disputes.
