Jerry Reinsdorf

Jerry Reinsdorf

American Certified Financial Accountant and longtime owner of the NBA's Chicago Bulls and Chicago White Sox.
Date of Birth: 25.02.1936
Country: USA

  1. Biography of Jerry Reinsdorf
  2. Early Life and Career
  3. Business Success and Sports Ownership
  4. Philanthropy and Recognition
  5. Other Involvements and Personal Life

Biography of Jerry Reinsdorf

Jerry Reinsdorf, an American certified specialist in financial accounting and longtime owner of the NBA team "Chicago Bulls" and baseball club "Chicago White Sox", was born on February 25, 1936. Reinsdorf has been the owner of these clubs for over 25 years.

Jerry Reinsdorf

Early Life and Career

Jerry M. Reinsdorf was born on February 25, 1936, into a Jewish family in Brooklyn, New York. He became a big fan of baseball, regularly attending games at Ebbets Field and witnessing the debut of Jackie Robinson, the first African American player in Major League Baseball, for the Brooklyn Dodgers.

Jerry Reinsdorf

Reinsdorf earned a bachelor's degree from George Washington University. He moved to Chicago in 1957 and became a certified public accountant, mortgage underwriter, and certified appraiser. In 1960, he took on the case of Bill Veeck, the then-owner of the Chicago White Sox, regarding tax debt. Reinsdorf started his own private practice in 1964, specializing in tax avoidance planning.

Jerry Reinsdorf

Business Success and Sports Ownership

Jerry sold his business in 1973 and founded the company "Balcor," which raised $650 million in construction investments. After the sale of Balcor for $102 million in 1982, Reinsdorf remained the company's president for several years. With his accumulated wealth, Reinsdorf bought the White Sox for $19 million. Under his new ownership, the baseball club reached the playoffs for the first time since 1959 in 1983 and won the World Series in 2005, the first time since 1917.

Reinsdorf became known as one of the most influential owners in baseball, notably influencing the financial structure of teams, including the implementation of salary caps. In 1985, Jerry acquired the Chicago Bulls, which won NBA championships in 1991-1993 and 1996-1998. The team became financially successful, although some fans and journalists accused Reinsdorf and Jerry Krause of dismantling the dominant club by allowing Phil Jackson, Michael Jordan, and other key players to leave the Bulls.

Philanthropy and Recognition

Reinsdorf actively participated in philanthropic activities, particularly through the Chicago White Sox Charities foundation. He made significant contributions to the development of the Near West Side area, where the United Center sports arena is located. The Chicago White Sox Charities foundation donated one million dollars twice to the Chicago Park District, with a focus on funding baseball and softball fields.

In recognition of his contributions to baseball, Reinsdorf was inducted into the Baseball Hall of Fame in Appleton, Wisconsin, on August 5, 2006. He also received the Jefferson Award for Public Service in 2011.

Other Involvements and Personal Life

Reinsdorf served on the board of directors of various corporations and charitable organizations, including Shearson Lehman Brothers, the Northwestern University School of Law Alumni Association, LaSalle Bank, Equity Office Properties Trust, and many others. He continues to be a trustee of Northwestern University.

In addition to his involvement in sports, Reinsdorf co-founded the company "Global Security & Innovative Strategies" in 2013. Reinsdorf is married to Martyl Rifkin and is the father of four children and the grandfather of eight grandchildren.