Donald Sterling Biography & Net Worth
|Popular Name:||Donald Sterling|
|Birth Date:||April 26, 1934|
Chicago, Illinois, United States
Shelly Sterling (m. 1955)
|Net Worth:||$4 Billion|
Donald Sterling is an American businessman and attorney who formerly owned the Los Angeles Clippers professional basketball team of the National Basketball Association (NBA). After running the basketball franchise for decades starting from 1981, Sterling was in April 2014, banned for life from the NBA and was slammed with a fine of $2.5 million by the league after secret recordings of him making racist remarks went viral. In May, his wife Shelly reached an understanding for the Sterling Family Trust to trade the Los Angeles Clippers for $2 billion to American businessman Steve Ballmer, which Sterling contested in court. The National Basketball Association Board of Governors approved the sale of the basketball franchise to Ballmer on August 12, 2014. In November 2016, Sterling settled his lawsuit against the league, and remains very active in Los Angeles real estate. The remainder of this post details Donald Sterling biography, as well as other details you might find useful if you carry on with reading all that has been penned down in this notable personality’s profile.
Donald Sterling’s Early Life
Donald T. Sterling was born Donald Tokowitz on April 26, 1934 in the United States. A former resident of Chicago, Illinois, Donald’s parents decided to relocate to Boyle Heights in Los Angeles. His parents, Mickey and Susan, are both Ashkenazi Jewish immigrants. He was enrolled into Theodore Roosevelt for his high school education and was very active and noticed in the school’s gymnastics scene. He acted as the president of his class, and was also a member of the school team. After graduating in 1952, he moved to California State University for further studies and completed his education in 1956, obtaining a bachelor’s degree in the process. Sterling then proceeded to the Southwestern University’s School of Law to study law, graduating with honors in the year 1960.
Donald Sterling’s Career
As soon as he graduated from law school in 1960, Sterling started his career as a lawyer, and cemented his profession at a period when Jews were detested and couldn’t secure a high-end job at a top law firm or establishment. At that time, he launched a career as a free divorce lawyer as well as a personal injury lawyer. He then found his path into the world of real estate, and purchased a twenty-six units apartment of flats in Beverly Hills, California.
Down the line of his career, Sterling decided to invest in sports and considered the National Basketball Association a good option to begin with. In the year 1979, he moved to acquire the Los Angeles Clippers of the NBA who were facing difficulties for a long time. He then found another team Oakland Raiders, and invested a large amount of money in the franchise.
It was reported that Donald spent nearly $50 million for the development of his team and facility in order to completely transform the team to other top teams in the league such as Sacramento Kings, Detroit Pistons, and Los Angeles Lakers. His wealth was earned from his involvement in the NBA and investment in his basketball team. In 2014, Donald Sterling banned for life from the NBA and was slammed with a fine of $2.5 million by the league after secret recordings of him making racist statements went public. Since then, he has been more focused in the Los Angeles real estate industry.
Awards & Achievement
Considering the personality of this businessman, it would not come as a surprise that his biggest achievements in life came in investment and real estate. His accomplishments even overshadow his fame. It is estimated that he owns over 162 properties in the beautiful city of Los Angeles alone, with several more getting added to the ranks each year. His finances allowed him to make investments of more than $350 million into the various franchises in the National Basketball Association that he has owned in his life so far, with additional sums spent on facilities and other expenses. Before his ban in 2014, he owned or invested in the Los Angeles Clippers and Oakland Raiders.
Personal Life & Family
Donald Sterling and his wife Rochelle “Shelly” got married in 1955. The couple has three children together: Chris, Scott, and Joanna. His son, Scott, was discovered dead due to drug overdose at the age of 32. In 2012, Donald and his wife became estranged following several family disputes, and subsequently in 2015, it was confirmed that he was filing for divorce. However, the following year, it was reported that the pair had settled their differences and wouldn’t proceed with the divorce.
Sterling began a treatment for prostate cancer in 2012, and was soon diagnosed with the initial stages of Alzheimer’s disease. As he was found unfit to lead the financial matters of the Sterling Family Trust, Shelly began taking decisions on important matters on his behalf, including the sale of the L.A. Clippers.
Donald Sterling Net Worth
As at the time of this publication, Donald Sterling net worth is estimated at about $4 billion. He generated this wealth from investing in the biggest basketball league in the world, and it led him to amass a significant profit before his ban in 2014. He is a also a big name in the real estate business and is said to own many expensive properties which also make up his net worth. Donald’s business expertise shows that if one has knowledge of where and how to invest their money, the proceeds can be quite profitable and rewarding.