David Stern Net Worth in 2017: A Deep Dive into the NBA Commissioner's Fortune
Hello, sports enthusiasts! Today, we're diving into the fascinating world of David Stern's net worth in the year 2017. If you're a basketball fan, you'll know David Stern as the former Commissioner of the National Basketball Association (NBA). But who was David Stern, and what was his net worth in 2017? Let's find out! Guys, explore more in Net Worth and david stern net worth 2017.
Who was David Stern?
Before we delve into David Stern's net worth in 2017, let's take a step back and understand the man behind the fortune. David Joel Stern was born on September 22, 1942, in New York City. He was the fourth of five children and grew up in a middle-class family. Stern graduated from Rutgers University and later earned his law degree from Columbia Law School.
Stern joined the NBA in 1967 as an external counsel and later became the league's general counsel. In 1980, he was appointed as the NBA's first non-player president, and in 1984, he became the league's fourth commissioner, a role he held until 2014. Under his leadership, the NBA grew from a small, struggling league to a global phenomenon with a massive following and a multi-billion dollar enterprise.
David Stern's Net Worth in 2017
Now, let's talk about the main event – David Stern's net worth in 2017. As of 2017, David Stern's net worth was estimated to be around $250 million. This impressive fortune was largely accumulated during his time as the NBA's commissioner, where he played a pivotal role in growing the league's revenue and popularity.
Stern's net worth in 2017 was derived from various sources, including:
1. NBA Salary: As the commissioner, Stern earned a substantial salary. While the exact figure is not public, it's estimated that he earned around $20 million annually during his final years as commissioner.
2. Investments: Stern was a savvy investor, with a portfolio that included stocks, bonds, and real estate. He was also an early investor in the NBA's broadcasting rights, which proved to be a lucrative move.
3. Book Deals and Speeches: Stern authored several books, including "The Game Changed: How You, A Fan, Can Take an Active Role in Flipping the World of Sports to Your Advantage" and "I Love This Game: An NBA Memoir". He also earned money from giving speeches at various events.
How David Stern Grew the NBA
David Stern's net worth in 2017 was a testament to his incredible leadership and vision. But how did he grow the NBA into the powerhouse it is today? Here are a few key strategies:
1. Globalization: Stern was instrumental in expanding the NBA's reach beyond the United States. He established NBA offices in several international cities, promoted basketball in underdeveloped countries, and even organized exhibition games in foreign countries.
2. Diversity and Inclusion: Stern made a conscious effort to promote diversity and inclusion within the NBA. He was the first commissioner to hire a woman (Valerie Camillo) as a senior executive, and he also appointed the first African American team president (Patricia B. Fox) and the first African American head coach (Larry Brown) in the NBA.
3. Marketing and Branding: Stern understood the importance of marketing and branding. He capitalized on the star power of NBA players like Michael Jordan, Magic Johnson, and Kobe Bryant to promote the league and its products.
4. Revenue Sharing: Stern implemented a revenue-sharing system that allowed small-market teams to compete with larger-market teams. This helped to maintain parity in the league and made the NBA more competitive.
David Stern's Legacy
David Stern passed away on January 1, 2020, but his legacy lives on. Under his leadership, the NBA grew from a small, struggling league to a global powerhouse with a multi-billion dollar enterprise. He was a visionary who understood the importance of globalization, diversity, marketing, and revenue sharing in growing a sports league.
Stern's net worth in 2017 was a reflection of his success as an NBA commissioner. But more importantly, it was a testament to his leadership, vision, and dedication to growing the game of basketball.
David Stern's Net Worth in 2017 Compared to Other NBA Commissioners
Curious about how David Stern's net worth in 2017 stacked up against other NBA commissioners? Here's a quick comparison:
1. Adam Silver (Current Commissioner): As of 2021, Adam Silver's net worth is estimated to be around $40 million. While this is significantly less than Stern's net worth in 2017, it's important to note that Silver has only been the commissioner since 2014.
2. David Stern's Successor, Larry Bird: Larry Bird, who succeeded Stern as the NBA's global ambassador, has an estimated net worth of $500 million. However, this fortune was largely accumulated during his playing days and his time as a coach and executive, not during his brief stint as the NBA's global ambassador.
Conclusion
David Stern's net worth in 2017 was a remarkable $250 million, a testament to his incredible leadership and vision as the NBA's commissioner. His legacy continues to inspire and influence the league today. Rest in peace, David Stern – you were truly one of a kind.
That's all for today, folks! We hope you enjoyed this deep dive into David Stern's net worth in 2017. If you're a basketball fan, be sure to check out our other articles on the NBA and its fascinating history. Until next time, keep your hoops knowledge sharp!