- Full Name: David Stern
- Born: 09/22/1942
- Place of Birth: New York City, New York
- Occupation: Business
- Marital Status: Married
David Stern Net Worth History
David Stern is currently retired. He served in the presigious position of National Basketball Association, otherwise known as the NBA Commissioner. This is where he made the bulk of his net worth. He began his appointment in 1984 and retired in 2014. David began with the NBA in 1978. His first official affiliation with the NBA was General Counsel. In 1980, he was promoted to Executive league VP for four years prior to becoming commissioner.
David Stern made his wealth in the popular NBA as the 2010-11 season was phenomenally successful. The league brought in $3.8 billion in revenue for this time period. The prosperity was largely due to the appearance of Magic Johnson, Michael Jordan and Larry Bird, who brought in a following of loyal fans which contributed to the financial success of the league. Franchise popularity causes sales for game tickets and anything associated with the NBA and the fans’ favorite teams and players to skyrocket. These are the factors that helped to contribute to Stern’s success as well.
David had his share of ups and downs throughout his term. Issues within the league caused a total of six of the teams to go through the relocation process since 1986. Several problems arose with labor negotiations resulting in several lockouts. During his tenure, there were seven new franchises which were added to the NBA. The Raptors, Bobcats, Grizzlies, Heat, Hornets, Clippers and Timberwolves. This massive expansion included international markets in Canada with Toronto and Vancouver being welcomed into the fold. With nearly 30 years under his belt, Stern was making over $20 Million annually for his work.
About David Stern
David was born into a Jewish Family in the early 1940s. He attended Rutgers University then graduated with his degree from Columbia Law School. He passed his bar exam for teh State of New York in 1966. He married his wife, Dianne Bock Stern and the couple has two children. David held an important position in the NBA, but not everyone knows that he was instrumental in teh development and creation of teh WNBA which is a women’s professional basketball league. He also set out to expand the audience of the NBA with a definite game plan that seemed to pay off very well. He developed a regimen of training camps, exhibition games internationally and recruited international players for the league.
David made the decision to resign from the NBA in 2012 and the news came as a shock. He stepped down officially in early 2014 with his deputy moving into the commissioner position. Stern had some great successes during his career. He contributed greatly to the development and advancement of the NBA as well as the enhancement of the viewing audience. He in part, helped to make the league the success that it is today. His innovations did exactly what they were intended to do and he retired a successful man.