What was David Stern net worth
David Stern, the transformative former Commissioner of the National Basketball Association (NBA), had an estimated net worth of $135 million at the time of his death in 2020. His immense wealth was largely the result of a three-decade career that revolutionized the NBA from a struggling American sports league into a global entertainment juggernaut.
- David Stern Net Worth: $135 Million
- Date of Birth: September 22, 1942
- Place of Birth: New York City
- Nationality: American
David Stern Salary
During his peak years as commissioner, Stern reportedly earned an annual salary of $20 million, reflecting his unmatched influence in sports business. His sharp legal mind, marketing genius, and global vision helped multiply the NBA’s revenue and value, laying the groundwork for the billions it generates today.
Back in 1983, the NBA’s annual revenue was a modest $118 million. Under Stern’s leadership, that figure skyrocketed to over $5 billion by 2013. Even more dramatically, franchise values exploded. For instance, the Sacramento Kings—sold for $10.5 million in 1983—were valued at $534 million by 2013. These shifts not only marked the NBA’s growth but also highlighted Stern’s role in creating a highly lucrative league that attracted global investors and broadcasters.
Early Life
Born on September 22, 1942, in New York City and raised in Teaneck, New Jersey, David Joel Stern was a lifelong basketball fan. He graduated from Rutgers University with a degree in history in 1963 and earned his law degree from Columbia University in 1966.
After law school, Stern joined the prominent firm Proskauer, Rose, Goetz & Mendelsohn, which represented the NBA. There, he played a key legal role in Robertson v. NBA, a landmark case that altered player free agency rights. His prowess caught the attention of the NBA leadership, and in 1978, he joined the league as General Counsel, eventually becoming Executive Vice President in charge of legal and business affairs.
Commissioner of the NBA
Stern became the NBA Commissioner in February 1984. At the time, the league was suffering from low viewership and tape-delayed playoff broadcasts. Stern shifted the NBA’s focus to its charismatic players like Magic Johnson, Larry Bird, and Michael Jordan, selling basketball not just as a sport, but as a personality-driven spectacle.
He also spearheaded the league’s international expansion, syndicating games to countries around the world, creating training camps abroad, and building new fan bases. Under his leadership, the NBA opened 12 international offices, broadcasted games in over 200 territories, and began recruiting top talent from Europe, Africa, and Asia.
His tenure also saw the addition of seven new franchises, including the Toronto Raptors and the Vancouver Grizzlies, expanding the league into Canada.
Innovations
Stern was the driving force behind the creation of NBA TV, NBA.com, and NBA League Pass, laying the foundation for the league’s strong digital presence. He also introduced NBA Cares, the league’s global social responsibility initiative.
One of his most lasting legacies was helping to bring NBA players to the Olympics, culminating in the 1992 “Dream Team,” which captivated the world. Additionally, he pushed for critical health and safety reforms following Magic Johnson’s HIV diagnosis, and in 2006, he introduced a minimum age limit for players entering the draft.
Stern also played a key role in launching the Women’s National Basketball Association (WNBA) and the NBA G League, ensuring development opportunities and gender inclusion within professional basketball.
Post-NBA and Recognition
After retiring on February 1, 2014, David Stern continued to serve on influential boards including the Council on Foreign Relations, and supported his alma maters, Rutgers and Columbia, through various governance roles.
He was honored with the Olympic Order in 2012, inducted into the Naismith Memorial Basketball Hall of Fame in 2014, and later, the FIBA Hall of Fame in 2016.
Personal Life
Stern was married to Dianne Bock since 1963, with whom he had two sons, Eric and Andrew. The family lived in Scarsdale, New York.
In December 2019, Stern suffered a brain hemorrhage and passed away on January 1, 2020, at the age of 77. The basketball world mourned deeply—every NBA team wore black armbands for the remainder of the season in his honor.
David Stern Net Worth
David Stern net worth was $135 when he died.
Author: Andrew Walyaula
Andrew Walyaula is a seasoned multimedia journalist. satrendmagazine@gmail.com
