Net Worth:
$50 million
About David Stern
It has been announced that the overall amount of David Stern net worth reaches 50 million dollars. He has accumulated his net worth through being a lawyer and a businessman. In addition, he is known as a commissioner of the National Basketball Association which is one of the most important sources of David Stern net worth.
However, he had to work a lot since he got such a position. In 1966, he worked in the National Basketball Association as an outside counsel. In 1978, David Stern became a general counselor. Two years later, David Stern was promoted to become the Executive Vice President of the National Basketball League. Furthermore, David Stern is considered to be as one of the activist in the NBA who helped to popularize it in 1990s and 2000s.
David Stern has also worked at Rutgers University and Columbia University. David Stern is also involved in the Council of Foreign Relations which is another important source of David Stern net worth.
Born in 1942, David Stern lived for quite a long time in New Jersey, although he was born in New York. He was brought up according to Jewish morals. David Stern attended Rutgers University where he finally worked and got a position in the Board of Oversees of the university. In addition, he was also studying at the Colombia Law School from which he graduated in 1966. Moreover, he was accepted to bar in New York.
When he was in a position as a Vice President in the NBA, David Stern collaborated in making two decisions achieved with the NBA Players’ Association which were team salary cap and also drug testing. The drug testing was needed because it was thought that a lot of basketball players in the NBA used drugs. Therefore, NBA agreed that such a problem existed and tried to solve it. Another decision – team salary cup – was created in order to make sure that the player and the owner were equal and effective partners. Both of these decisions made David Stern as one of the most respected members in the NBA which also brought millions of dollars to the overall amount of David Stern net worth.
David Stern got a position of the Commissioner of the NBA during the time when quite a few big basketball stars entered NBA. These were Michael Jordan, John Stockton and Charles Barkley. Michael Jordan was the one who also helped to popularize the NBA.
