George Washington University (BA) Northwestern University (JD)
Known for
Owner of Chicago White Sox and Chicago Bulls
Spouse
Martyl Rifkin
(m. 1956; died 2021)
Children
4
Awards
6× NBA champion (as owner) 1991, 1992, 1993, 1996, 1997, 1998 with Bulls
1× World Series champion (as owner) 2005 with White Sox
Naismith Memorial Basketball HOF (Class of 2016)
Jerry Michael Reinsdorf (born February 25, 1936) is the owner of the NBA's Chicago Bulls and MLB's Chicago White Sox. He started his professional life as a tax attorney with the Internal Revenue Service. He has been the owner of the White Sox and Bulls for over 35 years. As of January 2024, his net worth was estimated at US$2.4 billion.[1]
He made his initial fortune in real estate, taking advantage of the Frank Lyon Co. v. United States decision by the United States Supreme Court, which allowed economic owners of realty to sell property and lease it back, while transferring the tax deduction for depreciation to the title owner.
As the owner and chairman of the Chicago Bulls since 1985, he oversaw a turnaround in the franchise's fortunes, culminating in six NBA Championships in the 1990s (1991–1993 and 1996–1998). He is controversial for his involvement (along with Jerry Krause) in breaking up the championship team by not hiring back Phil Jackson. He signed Michael Jordan as a baseball player during his sabbatical from basketball. He also moved the Bulls from Chicago Stadium to the United Center.
After Reinsdorf's purchase of the White Sox in 1981, the franchise made the playoffs in 1983 for the first time since 1959, and won the World Series for the first time since 1917 in 2005, the only year during his tenure as owner in which the White Sox have won a playoff series. Reinsdorf moved the White Sox from Comiskey Park to New Comiskey Park in 1991 (now known as Guaranteed Rate Field). In both sporting endeavors, he has developed a reputation as an anti-labor union hardliner. Since the early 1990s, he has been considered one of the most influential basketball owners. He has been influential in instituting the salary cap and revenue sharing.
On April 4, 2016, Reinsdorf was elected to the Naismith Memorial Basketball Hall of Fame as a contributor.[2]
^"Forbes profile: Jerry Reinsdorf". Forbes. Retrieved January 3, 2024.
^"Naismith Memorial Basketball Hall of Fame Class of 2016 Announcement presented by Haggar Clothing Company". Naismith Memorial Basketball Hall of Fame. April 4, 2016. Archived from the original on April 17, 2016. Retrieved April 4, 2016.
Jerry Michael Reinsdorf (born February 25, 1936) is the owner of the NBA's Chicago Bulls and MLB's Chicago White Sox. He started his professional life...
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