Donald Sterling Net Worth: How Rich Is Donald Sterling Worth In 2017

0
243

Donald Sterling Net Worth

Starting Estate Business

Starting in 1961, Donald began to make his career as a divorce and personal injury attorney building an independent practice when Jews had few opportunities at prestigious law firms. His law practice took off quickly and, in 1963, Donald used some of his savings to purchase a 26-unit apartment building in Beverly Hills. This was his first venture into the real estate business. By the early 1980s, he had acquired more than 5000 apartments in Santa Barbara, Los Angeles and San Diego. He also owned hotels as well as office buildings located in Beverly Hills. Another property are two oceanfront in Malibu and the Malibu Yacht Club. Donald Sterling Apartment totals to 10,000 apartment units (including Donald Sterling houses) in Los Angeles. He also owns the Donald Sterling Orange Counties and also the Donald Sterling Beverly Hills Plaza Hotel.

NBA Ownership

He bought the NBA Los Angeles Clippers basketball team in 1981 for $12.5 million. He worked to market and promote the Clippers team by appearing in billboards and advertising in buses with his team as their marketing strategy thinking it will serve the team right. Sterling and his Clippers struggled but unfortunately lost many times until the 1991–92 season, eleven years into his ownership. In Sterling’s 33 years of owning the Clippers through 2013–14, the Clippers lost 50 or more games 22 times, 60 or more on eight occasions, and 70 games once. Their 9–41 record in the lockout-shortened 1998–99 season projected to another 60-loss season. Soon after, the NBA banned Sterling for life from the game, fined him $2.5 million and told him he must sell the team, which was then valued at more than half a billion dollars. And in 2014, Sterling and his wife as co-owner of the team sold the Clippers to Steve Ballmer, the Microsoft CEO for $2 billion. And that was the end of the partnership of the 80 year-old billionaire with the Clippers.

How Was Donald’s Childhood?

Donald is a son of Ashkenazi Jewish immigrants who was born on April 26, 1934, in Chicago, Illinois. When he was two years old, his family moved to the Boyle Heights area of Los Angeles. He studied at Theodore Roosevelt High School in Los Angeles and became the young High School President. After graduating the school Donald Sterling attended California State University in Los Angeles and then Southwestern University School of Law, Los Angeles.

Donald’s Sterling Private Life

Donald married Rochelle Stein in 1955 and after they get married, they changed their surname to Sterling (1959) because they see the “Tokowitz” harder to pronounce and were sure that there would be financial benefits for the change. The couple went on to have three children: Scott, Chris, and Joanna. At the end of 2012 Sterling’s son Scott accidentally died on New Year’s eve at the age of 32 after injecting narcotics which were reportedly formulated for oral use. Also around 2012, Sterling began treatment for prostate cancer and started keeping his health in good condition. Also there was a fact that Sterling had a relationship with a woman named Alexandra Castro. But very soon their relationship ended.

See Also: Toni Braxton Net Worth: How Rich Is Toni Braxton Worth In 2017

LEAVE A REPLY

Please enter your comment!
Please enter your name here