Jerry Reinsdorf is one of the most influential team owners in the baseball world. He currently owns the Chicago Bulls of the National Basketball Association (NBA) and the Chicago White Sox of Major League Baseball (MLB). He is also a member of the Naismith Memorial Basketball Hall of Fame and the Baseball Hall of Fame.
Jerry Reinsdorf, who began his career as a tax attorney for the Revenue Service, is today a well-known businessman and basketball team owner.
He has been the owner of the White Sox and Bulls for more than 35 years. Over the years, the Chicago Bulls won six NBA championships.
Physical Stats
| Full name: | Jerry Michael Reinsdorf |
| Born: | February 25, 1936, Brooklyn, New York, United States |
| Current Position: | Chairperson of the Chicago Bulls |
| Best Known For: | Owner of Chicago White Sox & Chicago Bulls |
| Age: | 87 Years |
| Height: | 5 Feet 8 inches (1.73m) |
| Profession: | Chairperson of the Chicago Bulls |
| Marital Status: | Married |
| Spouse: | Martyl Rifkin Reinsdorf (m. 1956- 2021-Death) |
| Children: | Susan Reinsdorf, David Reinsdorf, Michael Reinsdorf, Jonathan Reinsdorf |
| Parents: | Max Reinsdorf and Marion Reinsdorf |
| Religion: | Jewish |
| Net worth: | USD $2.2 Billion (According to Forbes 2023) |
| Nationality: | American |
Early Life
Jerry Michael Reinsdorf was born on February 25, 1936, in Brooklyn, New York to a Jewish family. His father’s name was Max Reinsdorf who was a sewing machine mechanic and his mother Marion Reinsdorf was a homemaker. His family is Jewish immigrants from Poland.
Reinsdorf was a fan of the Brooklyn Dodgers and was in the stands when Jackie Robinson (the first black player) made his debut for the team in 1947.
Reinsdorf graduated from George Washington University, Washington D.C. with a degree in accounting in 1957 after finishing high school at Erasmus Hall High School, Brooklyn. He then graduated from Northwestern University School of Law in 1960.
Career
Reinsdorf began his career as a tax attorney for the Revenue Service in 1960 after graduating from Northwestern. Thereafter in 1964, he started working in Real Estate Partnership Tax Shelters as an expert.
Reinsdorf took advantage of the 1976 Frank Lyon Company v. United States Supreme Court decision to try his luck in real estate, and in 1973 founded the real estate investment firm Balcor Company.
About five years later, Reinsdorf sold the Balcor company to Shearson Lehman Brothers, the investment banking and brokerage arm of American Express, in 1982 for $102 million (Wikipedia). Even after that he remained the President of Balcor Company for many years.
Following the firm’s success, Reinsdorf purchased the Chicago White Sox in 1981 for $19 million. And included Michael Jordan in the team.
Under Reinsdorf’s ownership, the White Sox won American League regular season division championships in 1983, 1993, 2000, 2005, 2008, and 2021.
After purchasing the Chicago White Sox, Reinsdorf purchased the basketball franchise Chicago Bulls in 1985. Under Reinsdorf’s ownership, the Bulls won six NBA championships in eight years (1991–1993 and 1996–1998).
As of 2004, the Chicago Bulls were one of the most successful NBA teams, earning $49 million in operating income and an estimated valuation of $356 million.
In addition to his ownership of the Bulls and White Sox, Reinsdorf has also served on the boards of directors of several other companies, including McDonald’s, Sears, and American Express.
He is also a member of the Naismith Memorial Basketball Hall of Fame and the Baseball Hall of Fame. He is also the chairman of the board of directors of the Chicago Public Schools.
Networth
Jerry Reinsdorf is a true pioneer in the sports business and is currently active in the business world. He has been the owner of the Chicago White Sox for more than 35 years, from which he earned millions of dollars.
Jerry Reinsdorf’s current net worth is estimated to be $2.2 billion. His main sources of income are the Chicago Bulls of the National Basketball Association (NBA) and the Chicago White Sox teams of Major League Baseball (MLB). He is also involved in a variety of businesses and organizations.
The Chicago Bulls are currently worth $4.1 billion, and the Chicago White Sox are worth an estimated $1.9 billion. Reinsdorf owned an estimated 40% of the Bulls and 19% of the White Sox.
Business and investments
Jerry Reinsdorf, 87, has been involved in a variety of businesses and investments throughout his career. Here are brief descriptions of some of the most notable businesses:
- The Balcor Company: Reinsdorf co-founded the Balcor Company in 1973, a real estate investment firm specializing in tax shelters. The company was sold to American Express in 1982 for $102 million.
- Chicago White Sox: Reinsdorf led the group that purchased the Chicago White Sox in 1981 for $19 million. He is still the majority owner of the team.
- Chicago Bulls: Reinsdorf bought a controlling stake in the Chicago Bulls in 1985 for $9.2 million. Under his ownership, the Bulls won six NBA championships in eight years (1991–1993 and 1996–1998).
- Horizon Theatres: Reinsdorf was a minority owner of Horizon Theatres, a movie theatre chain that was acquired by AMC Entertainment in 2006.
- Chicago Sports Properties: Reinsdorf is president of Chicago Sports Properties, which has the naming rights to Guaranteed Rate Field, home of the Chicago White Sox.
- Bozer Financial Limited: Reinsdorf is a partner in Bozer Financial Limited, a real estate investment company.
In addition to these businesses, Reinsdorf has also invested in several other ventures, including real estate, banking, and media. He is a successful businessman and investor who has amassed a lot of wealth over the years.
Personal Life
Jerry Reinsdorf was married in 1956 to Martil Rifkin, a talented artist and jewelry designer. This relationship, which lasted nearly 65 years, came to an end in 2021 when Martil died.
Martin was a talented artist and jewelry designer. He designed the 2005 World Series championship ring for the Chicago White Sox, as well as five of the six NBA championship rings for the Chicago Bulls. They also created and distributed over one million coloring books, crayons, markers, and toys to hospitals, orphanages, and shelters around the world.
They have four children:
- Susan Reinsdorf is an attorney and the president of the Chicago White Sox.
- David Reinsdorf was an attorney and former president of the Chicago Bulls. He died in 2018.
- Michael Reinsdorf is the current president of the Chicago Bulls.
- Jonathan Reinsdorf is an attorney and vice president of the Chicago White Sox.
Jerry and Martil Reinsdorf were a loving couple who made a significant impact on the Chicago sports scene and the entire community. His legacy will continue to be felt for many years to come.
