15. Donald & Rochelle Sterling

0
15. Donald & Rochelle Sterling

Net Worth: $5.7 B

LAST YEAR: 5.9

CHANGE: -3.4%

AGE: Donald, 89; Rochelle, 88

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Real estate, NBA



THE MONEY: Donald Sterling’s wealth can largely be broken down into two buckets: basketball and real estate. In August 2014, Sterling was forced to sell the Los Angeles Clippers basketball team after making racist remarks; he sold the franchise to former Microsoft Corp. chief executive Steve Ballmer for $2 billion. Sterling has also acquired hundreds of apartment buildings in Los Angeles since the 1960s, primarily in the Westside and Koreatown; the portfolio’s value has been boosted by rising rents. He also owns the Beverly Hills Plaza Hotel.



THE BUZZ: In 2016, Donald Sterling settled a lawsuit with the National Basketball Association after claiming the league and his wife, Rochelle “Shelly” Sterling, conspired to sell the Clippers. Donald filed for divorce from his wife in 2015 after six decades of marriage, later changing his mind. While his sale of the Clippers continues to increase in value, multifamily L.A. real estate was down 7% this year, resulting in a decrease in Sterling’s overall net worth.

No posts to display