Peter Victor Ueberroth was born on 2nd September 1937, in Evanston, Illinois USA, and is a sportsman and politician, but certainly best known for organizing the Olympic Games in Los Angeles in 1984, and being the commissioner of Major League Baseball from 1984 to 1989. From 2004 to 2007, he served as President of the National Olympic Committee of the US.
How much is the net worth of Peter Ueberroth? It has been estimated by authoritative sources that the overall size of his wealth is as much as $100 million, as of the data presented in the middle of 2017, accumulated during a varied working career which began in the late 1950s.
Peter Ueberroth Net Worth $100 Million
To begin with, Ueberroth grew up in Northern California, where he attended Union High School in Fremont. After matriculating, he enrolled at San José State University under a sports scholarship as a water polo player. He was a swimmer too, and also had a good arm as a baseball and football player. Peter graduated in 1959 with a Bachelor’s degree in Economics.
Afterwards, he initially worked for Trans International Airlines, then in 1963 set up a First Travel Corporation, for which he was eventually named the Junior Manager of the Year in 1977. Peter subsequently sold the company in 1980, having grown it to the second largest in the US.
After both the state of California and the city and the county of Los Angeles had refused to allow public funds to be invested in the Olympic Games in 1984, the successful young entrepreneur became the new general secretary for the Games (his predecessor was a union official who averted the feared strikes which could happen). Ueberroth’s organization of the Games saw him voted the Man of the Year in 1984 by Time Magazine, particularly as he succeeded in limiting the Olympic boycott to the Eastern bloc of Soviet satellites in the narrower sense, since he had already reached a promise in a personal conversation with Fidel Castro in Cuba in 1982 (via baseball friends) not to use his influence in Africa against Los Angeles. The Olympic Games of Los Angeles were the first purely privately financed games, and ultimately a gain of approximately $250 million was achieved, which benefited the promotion of youth sport in the counties, which had provided free sports facilities. The money is managed by the Amateur Sports Foundation (renamed LA84 Foundation in 2008), whose president is IOC member Anita DeFrantz.
Ueberroth was then elected Commissioner of Major League Baseball (MLB) in 1984, and during his five-year tenure, significantly improved the financial position of the sport through TV and various sponsorship deals, although his effort at limiting players’ ability to negotiate contracts was later deemed illegal. He was a strong campaigner regarding anti-drug use, and significantly increased the Commissioner’s authority in the imposition of fines and suspensions.
In 2003, Ueberroth ran unsuccessfully for California governor, but after which for the 2004 – 2007 term, he was elected President of the United States Olympic Committee, and in the same year he was also elected to the American Academy of Arts and Sciences. He was honoured with the Theodore Roosevelt honorary award of the NCAA in 2015.
To conclude, all the above mentioned engagements have added sums to the total size of Ueberroth’s net worth.
Finally, in the personal life of Peter Ueberroth, he has been married to Virginia M. Ueberroth, since 1959, and they have four children together.
