How Did Donald Sterling Get Rich? He's Worth Billions

How Did Donald Sterling Get Rich? He's Worth Billions

Looking for details on How Did Donald Sterling Get Rich? He's Worth Billions? Discover in-depth analysis with clear explanations.

In 1984, Los Angeles Lakers owner Jerry Buss convinced his friend to move the San Diego Clippers to Tinseltown. The Nation reported that this little maneuver cost Donald $6 million in fines because he did not receive approval from the league first. Per the outlet, he made money by "dumping contracts, pocketing television revenue, and collecting his share of the NBA’s luxury tax," then saved money by doing outlandish things like taping up the players before games which is what a trainer should do.

As of the time of this writing, the Clippers have never won league or conference titles. While Donald was their owner, he was also being sued by the Justice Department for allegedly "developing his own racial quota system to decide who gets the privilege of renting his properties," per The Nation. That lawsuit was settled in November 2009 to the tune of $2.73 million. He's actually been sued multiple times for similar reasons and has paid millions of dollars in settlements.

In April 2014, Donald was recorded saying racist remarks by his then mistress V. Stiviano and was fined $2.5 million by the league. The recording was also leaked to TMZ which ultimately led to the scandalous team owner being pushed out. He sold the Clippers in August of that year to Microsoft cofounder Steve Ballmer for $2 billion, per Forbes.

Robert Thorne
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Robert Thorne

Robert Thorne covers electric vehicle innovations, autonomous driving systems, global mobility trends, and automotive engineering developments.