Stern, David David Stern Born, September 22, 1942, New York City American lawyer and business executive As the Commissioner of the National Basketball Association (NBA) from 1984 to 2014, he was instrumental in making the league a world class brand. David Stern Net Worth $135 million at his death on January 1, 2020.
Early Life and Education
Stern was raised in a Jewish household in Teaneck, N.J. His father, William Stern, ran a delicatessen in Manhattan’s Chelsea neigh borhood. Stern fell in love with basketball early, regularly going to watch the New York Knicks at Madison Square Garden. He received a degree in history from Rutgers University in 1963 and his law degree from Columbia Law School in 1966.
Legal Career and Role with the NBA
Stern, who joined the law firm Proskauer Rose after law school, worked for that firm while it represented the N.B.A. He was named the N.B.A.’s General Counsel in 1978, rising to Executive Vice President in 1980. STERN (1932-2020) During this period, Stern negotiated the league’s first salary cap and anti drug agreement, establishing the NBA’s future growth trajectory.
Tenure as NBA Commissioner
Stern was named the NBA’s fourth commissioner on Feb. 1, 1984. Under his watch, the league grew from 23 to 30 franchises and increased its global footprint. Stern oversaw the birth of the Women’s National Basketball Association (WNBA) and the NBA Development League (now the G League). He was also instrumental in bringing NBA players to the Olympics, culminating with the 1992 Dream Team.
Net Worth and Financial Achievements
Stern’s innovative strategies and marketing prowess turned the NBA into a multibillion dollar business. By the time he left the Fox News anchor desk, his annual salary was rumoured to be $20 million. When combined with his investments and other business ventures, David Stern Net Worth of $135 million at the time of his death.
Legacy and Impact
Stern’s reach was deeper than just financial growth. He also championed social responsibility programs, like NBA Cares, and was a leading voice for diversity and inclusion across the league. And basketball, thanks in no small part to him, is one of the most popular sports globally.
Personal Life
Stern married Dianne Bock in 1963, and they had two sons, Eric and Andrew. He was recognised for his keen intelligence, devotion to the game, and support of liberal causes. Stern died Jan. 1, 2020, at age 77 of complications from a brain haemorrhage.
Conclusion
David Stern forged the N.B.A. into a global force, leaving behind a legacy as one of the most important figures in sports history. His innovation, inclusion, and social responsibility set the tone. David Stern Net Worth of $135 million speaks to his legendary career.
FAQ About David Stern Net Worth
What was David Stern’s net worth at the time of his death?
When he died in 2020, David Stern was worth an estimated $135 million.
Which NBA commissioner served the longest?
David Stern was the NBA Commissioner for 30 years, from 1984 until 2014.
What are some of the most significant contributions that David Stern made to the NBA?
Stern also grew the league from 23 teams to 30 teams, founded the WNBA and the NBA Development League, and paved the way for NBA players’ participation in the Olympics.
What did David Stern do during his tenure?
He advanced N.B.A. Cares, a program promoting social responsibility, and pushed for diversity and inclusion in the league.
How long ago did David Stern die?
David Stern died on Jan. 1, 2020, at 77.