| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $135 million | $20 million | 1942 | New York City, New York | Male | Unknown | Lawyer, Business Executive | American |
What is David Stern’s Net Worth?
David Stern, a lawyer and business executive, served as the Commissioner of the NBA from 1984 to 2014. At the time of his death, he had a net worth of $135 million. Stern is widely credited for transforming the NBA into a global phenomenon with significant profit growth. Through his strategic initiatives such as international recruitment, training camps, and increased broadcasting and digital presence, Stern was able to expand the NBA’s audience and drive revenue.
Highlights
– David Stern had a net worth of $135 million at the time of his death.
– He served as the Commissioner of the NBA from 1984 to 2014.
– Under his leadership, the NBA’s total revenues grew from $118 million in 1982-83 to over $8 billion in 2016.
– Stern played a key role in expanding the NBA’s international presence and attracting players from around the world.
– He helped establish the NBA TV, NBA.com, and NBA League Pass, contributing to the league’s digital presence.
– Stern was honored with the Olympic Order in 2012 and was inducted into the Naismith Memorial Basketball Hall of Fame in 2014.
Early Life
David Stern was born in 1942 in New York City, New York. He grew up in a Jewish household in Teaneck, New Jersey. Stern developed a love for basketball as a child and frequently attended New York Knicks games at Madison Square Garden with his father. He attended Teaneck High School and later graduated from Rutgers University with a bachelor’s degree in history. Stern went on to earn his J.D. from Columbia University in 1966.
Career
After completing law school, Stern joined the law firm Proskauer, Rose, Goetz & Mendelsohn, which represented the NBA. He played a pivotal role as the lead attorney in the landmark case of Robertson vs National Basketball Association, representing star player Oscar Robertson. In 1978, Stern joined the NBA as its General Counsel and later became the NBA vice president for business and legal affairs. During this time, he negotiated important agreements such as a team salary cap and mandatory drug testing, making the NBA the first major North American sports league to implement drug testing.
In 1984, Stern became the Commissioner of the NBA. He shifted the league’s marketing focus to star players like Larry Bird, Magic Johnson, and Michael Jordan, which greatly contributed to expanding the NBA’s popularity and global reach. Stern established international training camps, exhibition games, and expanded broadcasting to over 200 territories in more than 40 languages. Under his leadership, the NBA welcomed seven new franchises, including the Toronto Raptors and the Vancouver Grizzlies, the league’s first Canadian teams.
Personal Life
David Stern married Dianne Bock in 1963, and they had two sons named Eric and Andrew. Stern passed away on January 1, 2020, at the age of 77, following complications from a brain hemorrhage.
Net Worth Over Time
Throughout his tenure as the NBA Commissioner, David Stern’s net worth grew significantly. At the time of his death, he had a net worth of $135 million. Stern’s influence and strategic initiatives contributed to the league’s immense revenue growth, transforming the NBA into a profitable global sports brand.
Components of Net Worth
Stern’s net worth primarily consisted of his salary as the NBA Commissioner, which was reported to be $20 million per year. However, his net worth was also influenced by his various business ventures and investments throughout his career in addition to potential endorsement deals and other sources of income outside of his role as Commissioner.
While this table and article provide an overview of David Stern’s net worth, it is important to note that all net worths are estimates based on public sources and may not reflect the complete financial picture of an individual.