Published 18:26 IST, January 2nd 2020
David Stern net worth and his legacy as former NBA commissioner
David Stern had been involved with the NBA for nearly two decades before becoming its fourth commissioner in 1984. Find out his net worth and more details.
Former NBA Commissioner David Stern, who passed away on Wednesday, held the top position of one of the world's biggest sporting leagues from 1984 until 2014. He helped turn NBA into a global brand that it is today. It was during his term as a commissioner that the league saw in a massive explosion in terms of popularity of the sport. It involved soaring revenues as well as a rise in the valuation of franchises and player’s salaries. This ultimately led to a sizeable increase in commercial support, which was in the form of major shoe and apparel brands rushing in with endorsement deals with the best players in the league.
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David Stern net worth
David Stern had a net worth that was valued at an estimated $135 million, as reported by Dave Manuel. This makes him worth 1,746 times more than the median household in America. It also makes him one of the richest sports leaders across the globe.
David Stern salary
According to Dave Manuel, David Stern reportedly earned around $20-$23 million on an annual basis as a Commissioner of the NBA. The staggering amount could be attributed to the growth of league revenues over the years and his unprecedented 30-year tenure as the head of the league. Stern made the system profitable for most stakeholders.
David Stern passes away on New Year's Day
David Stern has contributed significantly to the sport of basketball. His efforts over the years helped him become not only one of the all-time greatest sports commissioners but also one of the most influential business leaders of his generation. The former NBA commissioner recently passed away at 77 on New Year's Day after suffering from a brain haemorrhage approximately three weeks ago, as announced by the National Basketball Association.
Updated 18:26 IST, January 2nd 2020