Donald Sterling is a billionaire with an approximate net worth of around $4 billion. He is a lawyer and businessman, best known for owning the NBA franchise, The Los Angeles Clippers, for over thirty-three years. Meanwhile, his wife, Rochelle, expected a net worth of around $1 billion.
In addition to this, Sterling is famous in the real estate industry as a top investor who owns thousands of apartments. He primarily earned a fortune through his investment in buildings in the city of Los Angeles. Additionally, he now resides in his luxurious residence in Beverly Hills, California leading a lavish lifestyle.
In 2015, he became news when he demanded that his former partner V. Stiviano return more than $2.6 million in cash and gifts to the Sterling Family Trust. It includes homes worth $1.8 million, luxury cars worth over $800,000 and cash donations.
While Stiviano and Sterling had been partners for more than two years, he gifted her a Range Rover, a Ferrari, a Bentley and a duplex in Los Angeles worth $1.8 million.
Donald Sterling Wealth during NBA ownership
Donald Sterling bought the San Diego-based NBA Clippers franchise in 1981 for around $12.5 million. He owned the team from 1981 to 2014 and then was forced to sell the club for $2 billion.
By the time he took over the NBA, Sterling already owned hundreds of apartment buildings, which were rising in value. A few years after buying the Clippers, in 1984 he tried to move the team from San Diego to Los Angeles, without getting NBA approval. Unaware of the situation, he moved the Clippers, being fined $25 million.
However, instead of settling the fine, Donald sued for NBA $100 million. The case was resolved after his $25 million fine was reduced to $6 million. In 2013, just before a year he left the property, the Clippers team assumed was worth $700 million.
While he had owned the team for more than three decades, in the meantime, in 2000, Sports Illustrated said he owned the Malibu Yacht Club, dozens of apartments in Beverly Hills and the Beverly Comstock Hotel. When he brought the Clippers, he then said, “I am in San Diego to stay and I am committed to making the city proud of the Clippers. I will build the Clippers through the draft, free agency, trades, spending whatever it takes to make a winner.”
Similarly, in 1996, he invested in the former MGM headquarters in Beverly Hills, complete with French antiques and upholstery rooms. Regardless of the fact that he owned the NBA, for decades most of his wealth came from his real estate business.
Donald Sterling Wealth after NBA ownership
By 2014, Donald Sterling had already made his fortune, adding to his wealth. The same year, he forcefully left his NBA property after making negative remarks and was banned from the league and NBA games with a $2.5 million fine.
He again had to pay actress Robyn Cohen $17.3 million for the lack of an adequate fire detection system in the apartment building he owned where she lived. Despite all the plummeting in his wealth, Sterling still managed to add to his luxurious life with his real estate business.
At the time of the mowers sale, his estimated net worth of around $2 billion is expected to rise to $2.2 billion. However, according to Forbes, his net worth at present is around $4.1 billion. Even after leaving Clippers and the lawsuit settlement, he owns thousands of luxury apartment buildings and properties in Beverly Hills and owns expensive cars.
According to Sportscasting, it was worth around $3.6 billion in 2020, while Forbes also ranked it number one. 207 on the list of the 400 richest Americans. He is a billionaire who shares a lavish and comfortable lifestyle with his wife and family.
Even though he lost ownership of the NBA, it did not affect his wealth, while holding a huge amount of capital. One thing is for sure, whether before NBA ownership or after Donald made a fortune from his real estate investments. He is now 88, one of the richest American men.
Also, he was an accomplished litigator when he invested in the first West Hollywood property. From the beginning, he has stuck to his real estate business until now.
