Former commissioner of the National Basketball Association, David Stern was born into a Jewish family in New York City, New York on September 22, 1942. Growing up in Teaneck, New Jersey, he graduated from Teaneck High School and attended Rutgers University. He later graduated from Columbia Law School in 1966 and was admitted to the bar in New York after passing the state‰Ûªs bar examination. He is married to Dianne Bock Stern, and the couple has two adult sons named Eric and Andrew. They currently reside in Scarsdale, New York.
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2. Income & Salary
Stern was first associated with the NBA as an outside counsel in 1966. He officially joined the organization as General Counsel in 1978 and eventually attained the position of Executive Vice President. A successor to Larry O‰ÛªBrien, he became Commissioner in 1984. He increased the popularity of the NBA throughout the 1990s and 2000s. Also, he oversaw the creation and development of the Women‰Ûªs National Basketball Association (WNBA), a professional basketball league for women. To broaden the NBA‰Ûªs audience, Stern established training camps, recruited more international players, and set up exhibition games all over the world. He is credited in increasing overall NBA profits; league revenues in 2013 were at the $5 billion mark compared to the previous seasons’ $118 million. Stern announced shocking news in 2012 about his resignation from the NBA. On February 1, 2014, he stepped down as Commissioner, letting his deputy Adam Silver take his place.
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3. Estimated Net Worth
With his great success and numerous accolades, Stern‰Ûªs annual salary is estimated to be about $20 million. He recently became a member of the Naismith Memorial Basketball Hall of Fame‰Ûªs 2014 induction class. His work in the NBA is considered a highlight and huge benefit for the organization. His total net worth is an estimated $135 million.