Donald Sterling is most notably known in America as a very prominent business and former owner of National Basketball Association team by the name of Los Angeles Clippers. He owned the franchise from 1981 to the year 2014. After an account of him making racially abusive comments were made public, he had to relinquish ownership of the Los Angeles Clippers.
He decided to go for a settlement with the NBA and sold his shares for $2 billion to another American investor called Steve Ballmer. Donald Sterling had to be banned from the NBA, and still remains active in the real estate market in Los Angeles. Now let us have a close look at Donald Sterling’s net worth in 2018.
Donald Sterling Early Life
A former resident of Chicago, Illinois, Donald Sterling was previously named and born as Donald Tokowitz. His official date of birth is stated as April 26, 1934. At the age of two, Sterling’s parents decided to move to Los Angeles; more specifically, Boyle Heights. His mother is Susan and his father is Mickey, and both of his parents are Ashkenazi Jewish immigrants.
He went to Theodore Roosevelt as a high school and was very active in the school’s gymnastics scene. He was a member of the school team and also acted as a class president. After graduating in 1952, he joined California State University and completed his education at the university in 1956. Sterling then proceeded to study law at Southwestern University, at the School of Law, graduating with honours in 1960.
Donald Tokowitz got married to Shelly, and at the age of twenty-five, filed a petition to change their surname to “Sterling”. This was done on December 9th, 1959. Associating the word Sterling with financial change and beneficial, he also stated that the surname “Tokowitz” was difficult for his peers to pronounce.
Donald Sterling Career, Awards & Achievement
Sterling’s career as a lawyer was cemented at a time when Jews were ostracized and could not possess a high-end job at a premium law firm or establishment. At that time, he started a career as an independent divorce lawyer and also as a personal injury lawyer. He then ventured into the world of real estate, and bought an apartment of flats in Beverly Hills, with twenty-six units.
Sterling then decided to invest in the world of sports, especially with the National Basketball Association. He bought a team of San Diego Clippers, who were struggling for a long time, in the year 1979. He then made a move and invested another large amount in the team called the Oakland Raiders. For a complete experience and turning whichever team he owned at the time, Donald Sterling followed the examples set by other NBA franchises Los Angeles Lakers, Detroit Pistons, and Sacramento Kings, and spent a huge sum of money, around $50 million, for the development of a facility which would be used exclusively by the team members.
Awards & Achievement
Considering the personality and mindfulness of Donald Sterling, it would come to no surprise that his biggest achievements came in investment and real estates. It is estimated that Donald Sterling owns are 162 properties in the city of Los Angeles alone, with a great many numbers of them being added to it each year.
His monetary acquisitions allowed him to make invest over $350 million into the various NBA franchises that he owned in his life so far, with additional money spent on facilities, and other such expenses. He owned the San Diego Clippers, Oakland Raiders and Los Angeles Clippers before his ban.
Net Worth of Donald Sterling
At this point in time, Donald Sterling’s net worth stands in at around $3.8 billion. His business acumen shows us that if one knows where to invest their money, the returns can be quite fruitful and rewarding.