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Billionaire Profile
Jerry Reinsdorf
Global Rank
#1697

Image: Public domain | via Wikimedia Commons

Jerry Reinsdorf

CEO, Chicago Bulls and Chicago White Sox
US
Real-Time Net Worth
$2.3B
As of December 2025
Age
89
Source
Sports teams
Industry
sports
Citizenship
US

Biography

Jerry Reinsdorf, born in Brooklyn, New York, on February 25, 1936, is a prominent figure in the sports industry, primarily known for his ownership of the Chicago Bulls and the Chicago White Sox. His career began as a tax attorney with the Internal Revenue Service before transitioning into real estate, where he founded Balcor Company, a successful real estate investment firm. Reinsdorf's strategic investments led him to purchase the White Sox in 1981 and the Bulls in 1985. Under his leadership, the Bulls achieved remarkable success, securing six NBA championships in the 1990s, while the White Sox won the World Series in 2005. With a net worth of $2.3 billion as of 2024, Reinsdorf has solidified his legacy as a successful sports executive and businessman.

Wealth Over Time

In-Depth Profile

Early Life

Jerry Michael Reinsdorf was born in Brooklyn, New York, on February 25, 1936. He attended Erasmus Hall High School and was present when Jackie Robinson debuted for the Brooklyn Dodgers. Reinsdorf earned a bachelor's degree from George Washington University in 1957 and a law degree from Northwestern University in 1960.

Rise to Success

Reinsdorf started his professional life as a tax attorney with the Internal Revenue Service. He later went into private practice, specializing in real estate partnership tax shelters. In 1973, he founded Balcor, a real estate investment company. He sold Balcor in 1982 for $102 million to Shearson Lehman Brothers. Reinsdorf purchased the Chicago White Sox in 1981 for $19 million and the Chicago Bulls in 1985 for $16 million.

Key Business Strategies

Reinsdorf's business acumen is evident in his strategic acquisitions and management of sports teams. He oversaw the Bulls' transformation into a successful franchise, culminating in six NBA championships. He also led the White Sox to the playoffs in 1983 and a World Series victory in 2005. He has been known to be cost-conscious and has taken a hard-line stance in both baseball and basketball.

Philanthropy

Reinsdorf is known for his involvement in charitable work, supporting Chicago Public Schools and various charities. He has served on the boards of directors for several corporations and charities, including Northwestern University.

Career Milestones

1960

Graduated from Northwestern University School of Law

Obtained a law degree from Northwestern University and began working as a tax attorney.

1973

Founded Balcor Company

Cofounded Balcor, a real estate investment firm, which he later sold.

1981

Purchased Chicago White Sox

Acquired the Chicago White Sox for $19 million, beginning his career in sports ownership.

1985

Purchased Chicago Bulls

Led a group that bought the Chicago Bulls, a move that would later lead to the team's dynasty.

2005

World Series Victory

The Chicago White Sox won the World Series.

2016

Inducted into the Naismith Memorial Basketball Hall of Fame

Recognized for his contributions to the sport.

Philanthropy & Social Impact

Education and Health

Chicago White Sox Charities

Undisclosed

Supports cancer research and the Direct Instruction reading program in Chicago's public schools.

Controversies & Challenges

1994

1994 MLB Strike

Reinsdorf was criticized for his hard-line stance during the 1994 MLB strike, which led to the cancellation of the World Series.

1990s

Breaking up the Bulls Dynasty

Reinsdorf was involved in breaking up the Chicago Bulls dynasty after the 1998 season, which drew criticism.