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Jerry Reinsdorf Net Worth

Jerry Reinsdorf wiki & biography:

The Hidden Facts About the Owner

Jerry Reinsdorf is a CPA, lawyer, and sports team owner with an estimated net worth of $350 million. His professional career began as a tax attorney with the Internal Revenue Services. The CPA started amassing when he ventured in property and took advantage of the Frank Lyon Co. v. United States judgement of the Supreme Court. This allowed the economical owners of realty to market property and lease it back while transferring the tax deduction for depreciation to the title owner.

Jerry M. Reinsdorf, produced on February 25, 1936 in Brooklyn, New York, has been the head of the Chicago Bulls and White Sox for over 20 years. Since 1981, he’s the owner of the Chicago White Sox and has brought success to the franchise. It made the playoffs in 1983 and won the World Series in 2005. He was the possessor of the Chicago Bulls since 2005 and directed the team to six NBA Championships from 1991 to 1993, and between 1996 and 1998. Despite his great success with the teams, he’s faced controversies regarding his management of crucial team members, most notably Phil Jackson and Michael Jordan.

Reinsdorf is a member of the board of directors of Shearson Lehman Brothers, Inc., the Northwestern University Law School Alumni Association,LaSalle Bank,Equity Office Properties as well as other corporations and charities. Presently, he serves as a Life Trustee of Northwestern University. Reinsdorf also serves on the Boards of MLB Advanced Media and MLB Enterprises. He was inducted into the Appleton, Wisconsin Baseball Hall of Fame on August 5, 2006.
Jerry M. Reinsdorf (born February 25, 1936) is a CPA, attorney and an owner of the NBA’s Chicago Bulls and the MLB’s Chicago White Sox. He started his professional life as a tax lawyer together with the Internal Revenue Service. He’s been the head of the White Sox and Bulls for over 25 years.

He made his first fortune in real estate, benefiting from the Frank Lyon Co. v. United States decision by the United States Supreme Court which enabled economic owners of realty to sell property and let it back, while transferring the tax deduction for depreciation to the title owner.

He could be controversial for his involvement (along with Jerry Krause) in breaking up the championship team by not hiring back essential personnel including Phil Jackson and Michael Jordan. He also transferred the Bulls from Chicago Stadium to the United Center.

As a baseball owner since 1981, he’s brought success to the White Sox franchise. He moved the White Sox from Comiskey Park to New Comiskey Park and after that renamed the new park U.S. Cellular Field. In both sporting endeavors, he’s acquired a reputation as an anti-labor union hardliner. Since the early 1990s, he is considered among the most, or even the most, influential basketball owners. He has been influential in instituting the salary cap and revenue sharing. He’s also shaped the modern era of basketball by arranging the money-making internet arm of basketball.

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