Donald Sterling net worth is
People also search for
Donald Sterling Net Worth, Biography & Wiki 2017
Donald Tokowitz, known by his stage name of Donald Sterling, was born on April 26, 1934 in Chicago, Illinois, United States of America. He is a famous attorney and business magnate. For more than 30 years, Donald owned the NBA team Los Angeles Clippers, however, Sterling received a $2.5 million fine and was ejected from the NBA for life after some public racist comments. Currently, Donald Sterling resides in Beverly Hills, California, United States of America.
Donald Sterling Net Worth $1.9 Billion
According to the latest estimations, the net worth of Donald Sterling has reached the sum of $1.9 billion, making him one of the richest businessmen in the United States of America. The main source of his net worth is real estate. He has made considerable profit by mostly buying and selling apartments in Los Angeles and Las Vegas. In 1981, when he bought the NBA team Los Angeles Clippers, he paid $12.5 million, however, now the team is valued at $575 million by Forbes: as he was forced to sell the team, he received $2 billion.
In 1952 Donald graduated from Theodore Roosevelt High School, in 1956 from California State University and in 1960 from Southwestern University School of Law. In 1959, Donald officially changed his last name to Sterling as he had foreseen he would have more financial benefits with this last name, more, Tokowitz was difficult to pronounce. In 1961, he started his career as an attorney for personal injury and divorce cases. At the same time, he began his real estate business buying various apartment buildings in Beverly Hills and the Westwood area of Los Angeles. By the middle of 2014, Sterling was the owner of 162 real estate units. These are the main sources of Donald Sterling’s net worth and wealth.
In 1981, Donald became the owner of the NBA Los Angeles Clippers basketball team. However, after some racist comments Donald was rejected from the NBA life. It was recorded that Donald Sterling was asking to have the picture of Magic Johnson removed from the account of Instagram and not to place the pictures of black skinned people for the games of Los Angeles Clippers. Donald Sterling received a $2.5 million fine for the racist comments. $700 million was the offer of David Geffen for the NBA Los Angeles Clippers team but Sterling did not agree to sell the team. In August 2014, the wife of Donald Sterling who is co-owner of the NBA team sold the Los Angeles Clippers to former Microsoft CEO Steve Ballmer. It has been announced that it has been sold for $2 billion.
Donald married Rochelle Stein in 1955. Together they had three children named Joanna, Chris and Scott. Eric Miller, the husband of Joanna, was an executive and administration director of the NBA Los Angeles Clippers basketball team when Sterling was rejected for life from the NBA. In 2012, the son of Donald and Rochelle, Scott was found dead after an overdose drug injection. The same year Sterling was diagnoses with prostate cancer and began treatment.