Jerry Reinsdorf

$2.29 B

Ranked #1763 in World

About Jerry Reinsdorf

Renowned sports mogul Jerry Michael Reinsdorf, born February 25, 1936, has left an indelible mark on the NBA and MLB as owner of the Chicago Bulls and Chicago White Sox. Transforming the Bulls into a six-time championship empire in the '90s and guiding the White Sox to a World Series victory in 2005, Reinsdorf's legacy is shaped by shrewd business acumen and controversial team management decisions. His background as a tax attorney and real estate investor laid the foundation for his sports empire. Despite criticism for cost management, Reinsdorf's influence extended to instituting salary caps and revenue sharing. Inducted into the Basketball Hall of Fame in 2016, his significant contributions to sports, business, and philanthropy underscore a storied career.

Born

February 25, 1936 in New York City, U.S.

Age

90 years

Source Of Wealth

Sports Teams

Industries

Sports

Citizenship

United States

Residence

Chicago, Illinois

Education

Bachelor of Arts/Science, George Washington University; Law Degree, Northwestern University

Spouse

Martyl Rifkin (Married: 1956; died 2021)

Children

Jerry Michael Reinsdorf was born on February 25, 1936, in Brooklyn, New York, to a Jewish family. He attended Erasmus Hall High School, where he witnessed Jackie Robinson's historic debut for the Brooklyn Dodgers. Reinsdorf went on to earn a bachelor's degree from George Washington University and became a member of Alpha Epsilon Pi.

Jerry Reinsdorf: Family

Reinsdorf married Martyl Rifkin in 1956, and they had four children and eight grandchildren.

Jerry Reinsdorf: Career Highlights

After graduating from Northwestern University School of Law, Reinsdorf worked as a tax attorney with the Internal Revenue Service. He later went into private practice, specializing in real estate partnership tax shelters. In 1973, he sold his business interests and formed Balcor, a real estate investment company. He sold Balcor in 1982 for $102 million to Shearson Lehman Brothers.

Reinsdorf's career in sports ownership began in 1981 when he purchased the Chicago White Sox for $19 million. He made significant improvements to the team, leading to playoff success in 1983. In 1985, he purchased the Chicago Bulls as part of a syndicate for $16 million. Under his ownership, the Bulls won six NBA championships in eight seasons under the coaching of Phil Jackson.

Jerry Reinsdorf: Companies

Reinsdorf has been involved with several companies throughout his career. He founded Balcor, a real estate investment company, in 1973 and sold it in 1982. He is the owner of the Chicago Bulls and the Chicago White Sox. He also founded Global Security and Innovative Strategies in 2013.

Jerry Reinsdorf: Major Achievements

Reinsdorf's major achievements include overseeing the Bulls' transformation into a lucrative business and winning six NBA Championships in the 1990s. He also led the White Sox to the playoffs in 1983 and the World Series victory in 2005. Reinsdorf was instrumental in instituting the salary cap and revenue sharing in the NBA and played a key role in revenue sharing of Major League Baseball's internet rights through MLB Advanced Media.

Jerry Reinsdorf: Awards & Achievements

Reinsdorf has received numerous awards and recognitions for his contributions to sports and business.

He was elected to the Naismith Memorial Basketball Hall of Fame in 2016 as a contributor. He has also been honored by the Chicago Sports Hall of Fame, the Chicagoland Sports Hall of Fame, and the Jewish Sports Hall of Fame.

Jerry Reinsdorf: Personal Life & Legacy

Reinsdorf is known for his philanthropy and involvement in charitable work. He has been involved in improving Chicago Public Schools and supporting various charities. He has served on boards of directors for several corporations and charities, including Northwestern University.

Reinsdorf's legacy is one of success and innovation in the sports industry. He is remembered for his ability to transform teams into lucrative businesses and his influence on the financial aspects of professional sports.

Jerry Reinsdorf: Trivia

Reinsdorf is known for his cost-consciousness and hard-line stances in both baseball and basketball. He has been criticized for his unwillingness to spend money, the dismissal of fan-favorite announcers, and stadium funding requests.

Wealth History

Timeline

February 25, 1936

Jerry Michael Reinsdorf is born in Brooklyn, New York.

1957

Reinsdorf moves to Chicago and becomes a CPA, lawyer, mortgage underwriter, and certified review appraiser.

1964

Reinsdorf goes into private practice, specializing in real estate partnership tax shelters.

1973

Reinsdorf sells his business interests and forms Balcor, raising $650 million for building investments.

1981

Reinsdorf purchases the Chicago White Sox for $19 million.

1982

Reinsdorf sells Balcor for $102 million to Shearson Lehman Brothers.

1983

The White Sox make the playoffs for the first time under Reinsdorf's ownership.

1985

Reinsdorf purchases the Chicago Bulls as part of a syndicate for $16 million.

1986

Reinsdorf sells a controlling interest in the Bulls to Jerry Krause.

1990s

The Bulls win six NBA championships in eight seasons under Phil Jackson's coaching.

2005

The White Sox win the World Series, becoming the third owner in North American sports history to win championships in two different sports.

2013

Reinsdorf founds Global Security and Innovative Strategies.

2016

Reinsdorf is elected to the Naismith Memorial Basketball Hall of Fame as a contributor.

Jerry Reinsdorf : FAQs

What is Jerry Reinsdorf's current net worth?

Jerry Reinsdorf's current net worth is $2.29 billion.

What is Jerry Reinsdorf's current global rank among billionaires?

Jerry Reinsdorf holds the 1763rd position globally among billionaires.

What is Jerry Reinsdorf's current ranking within the United States?

Jerry Reinsdorf holds the 596th position in United States.

What was the change in Jerry Reinsdorf's net worth compared to the previous year?

Jerry Reinsdorf's net worth decreased by 0 million dollars compared to the previous year 2025, when his net worth was 2.29 billion dollars.

What are Jerry Reinsdorf's main sources of wealth?

Jerry Reinsdorf's main source of income comes from Sports Teams.

In which industry does Jerry Reinsdorf primarily operate?

Jerry Reinsdorf is primarily involved in the Sports industry.

What is Jerry Reinsdorf educational background?

Jerry Reinsdorf holds a Bachelor of Arts/Science from George Washington University and a Law Degree from Northwestern University.

How old is Jerry Reinsdorf?

Jerry Reinsdorf is 90 years old.

How many children does Jerry Reinsdorf have?

Jerry Reinsdorf has 4 children.

Who is Jerry Reinsdorf and which sports teams does he own?

Jerry Michael Reinsdorf is the owner of two major sports franchises: the NBA's Chicago Bulls and MLB's Chicago White Sox.

What is Jerry Reinsdorf's background before owning the Bulls and White Sox?

Jerry Reinsdorf started as a tax attorney with the Internal Revenue Service and made his fortune in real estate, particularly after the Frank Lyon Co. v. United States Supreme Court decision.

How did Jerry Reinsdorf impact the Chicago Bulls and the Chicago White Sox?

Reinsdorf oversaw the Bulls' six NBA championships in the 1990s and transformed them into a lucrative enterprise. For the White Sox, he led them to a World Series win in 2005 and moved the team's venue to the New Comiskey Park, now known as Guaranteed Rate Field.

What are some of Jerry Reinsdorf's influences on professional basketball and baseball?

Jerry Reinsdorf is known for being an anti-labor union hardliner, influential in instituting the salary cap and revenue sharing in the NBA, and for shaping baseball's revenue-sharing agreement and internet rights sharing through MLB Advanced Media.

What are the highlights of Jerry Reinsdorf's legacy outside sports ownership?

Reinsdorf has been influential in revenue sharing for MLB's internet rights, secured stadium naming rights and funding for renovations, won legal battles over broadcast rights, engaged in charitable work, and served on several boards, including Northwestern University.