David Joel Stern, simply known as David Stern, is a famous American commissioner, as well as a lawyer. David Stern became the commissioner of the National Basketball Association in 1984, when he succeeded Larry O’Brien. During Stern’s time as Commissioner, NBA witnessed several notable changes, including the introduction of seven new teams, namely the “Hornets”, “Heat”, “Timberwolves”, “Bobcats”, “Grizzlies”, “Raptors”, and “Magic”, the ratification of the NBA Dress Code, four lockdowns, as well as the relocation of six franchises. Stern’s career as a Commissioner was always surrounded by various controversies, some of which significantly affected the National Basketball Association. In the playoffs in 1997, the league decided to suspend several players after the fight between Miami “Heat” and New York “Knicks” teams, which contributed to the outcome of the further matches between the two clubs. Under Stern’s tenure, the NBA also implemented the dress code, according to which the players were not allowed to wear sleeveless shirts, chains, sunglasses or jerseys, which met with a lot of criticism from players such as Allen Iverson, who was known for his hip-hop styled attire. Among the many changes that Stern brought to the league was the introduction of a new basketball, which was made from microfiber material. Once again, numerous professional players, including Shaquille O’Neal expressed their dissatisfaction with the change. Stern also exposed himself to a lot of criticism in 2011, when he dismissed a trade between three teams, namely “Lakers”, “Rockets” and “Hornets”, to a great dissatisfaction from both the teams, as well as the fans.
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David Stern Net Worth $135 Million
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Even though his years as a Commissioner are filled with many questionable decisions, David Stern’s contributions to increasing the popularity of NBA in the 1990s are indeed valuable. A famous former Commissioner, how rich is David Stern? Sources state that David Stern’s net worth is estimated to be $135 million, while his annual salary amounts to as much as $20 million.
David Stern was born in 1942, in New York, US, but spent most of his childhood in New Jersey, where he later studied at Rutgers University. Upon graduation from the university, Stern enrolled in the Columbia Law School, from which he graduated with a permission to practice law. However, Stern chose a different career path as he became a member of an outside counsel for the National Basketball Association. Stern eventually took the position of General Counsel of the NBA, and later became the Executive Vice President. As a Vice President, Stern implemented two key changes into the league: namely the drug test that helped to deal with the bias that a majority of players were using drugs, as well as a team salary cap, which established equality between the players and team owners. These decisions were fundamental in giving Stern the position of Commissioner of the NBA league, which he received in 1984. Stern finished his run as the Commissioner in 2014, almost 30 years after he was offered the job.
A well-known Commissioner of the NBA, David Stern has an estimated net worth of $135 million.
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