THE MONEY: Expansive portfolio of more than 160 apartment buildings continued to appreciate, though property acquisitions have all but stopped. Sole owner of National Basketball Association’s Los Angeles Clippers, whose star has been rising as it won the Pacific Division – 30 games ahead of the Lakers.
BUZZ: Became first NBA owner to be banned from the league for life after being caught on tape last month telling woman identified as his mistress not to bring African-Americans to Clippers games or posting photos of herself with blacks. Media firestorm ensued and league responded with ban, $2.5 million fine and effort to force sale of team, valued before brouhaha at more than $575 million. As billionaires lined up to express interest in team, pundits suggested value could climb above $1 billion, making Sterling even richer. Went on national television two weeks later to proclaim innocence. Clippers have improved on court and in valuation. Had banner season after investing much needed cash in star players and new coach. After getting heat for firing three-year coach Vinny Del Negro, Sterling hired Doc Rivers from Boston Celtics, agreeing to pay $7 million a season, highest in league. Re-signed all star Chris Paul for five years and $107 million. In real estate, acquired only one property last year, 45-unit apartment building in Koreatown. Trophy properties include Beverly Hills Plaza Hotel and Sterling World Plaza headquarters building.
$3.84 billion s15%
LAST YEAR: $3.35 billion
SOURCE OF WEALTH:
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