Adam Silver’s Net Worth
Adam Silver is an American businessman, lawyer, and sports executive with a net worth of $40 million. Adam Silver is the fifth and current National Basketball Association (NBA) commissioner.
Salary and Contract
Silver’s annual salary is $10 million. In June 2018, the NBA extended Adam Silver’s contract through the 2023-2024 season. By the top of that contract, he will have earned exactly $100 million in salary alone from the league.
He likely also earns bonuses for achieving various milestones and revenue/expansion goals.
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Early Life & Career
Adam Silver was born in Rye, New York, a suburb of latest York City, on April 25, 1962. He attended Rye high school, graduating in 1980, and continued his education at Duke University, where he majored in politics.
After graduating from college in 1984, he worked for Les AuCoin, a U.S. House of Representatives member, for a year as a legislative aid. He then attended the University of Chicago law school, graduating with a J.D. degree in 1988.
After law school, Silver worked as a clerk for Judge Kimba Wood of the U.S. District Court for the Southern District of latest York. He then joined the firm Cravath, Swaine & Moore as an associate.
Silver joined the NBA in 1992 because the Deputy Commissioner and Chief Operating Officer for eight years.
Therein position, he was involved in ventures like the negotiation of the league’s last three collective bargaining agreements with the National Basketball Players Association, the event of the WNBA league, the event of the NBA Development League, the creation of NBA China, and therefore the partnership with Turner Broadcasting for them to manage the NBA’s digital assets.
He has also held the positions of Senior VP & COO of NBA Entertainment, NBA Chief of Staff, and Special Assistant to the Commissioner. While with NBA Entertainment, Silver served as executive producer on the IMAX movie “Michael Jordan to the Max,” the documentary “Whatever Happened to Michael Ray?” (2000), and therefore the films “Like Mike” (2002) and “Year of the Yao.”
In October 2012, David Stern (the NBA Commissioner at the time) endorsed Silver as the subsequent NBA Commissioner when he announced that he would be stepping down from the position on February 1, 2014.
In late April 2014, Adam Silver was put through his first major test as league commissioner when he was forced to cater to racist remarks by Clippers owner Donald Sterling.
Sterling was caught on tape making extremely racist comments to his girlfriend. Within some days of the tapes being made public, Silver and, therefore, the NBA announced that they had decided to ban Sterling from all NBA events.
Silver and, therefore, the NBA also announced that they would do whatever they could to force him to sell the team. This was one of the most severe punishments ever imposed on the owner of a professional sports team.
Silver has been addressed as commissioner, other notable incidents include a 2019 tweet by Houston Rockets general manager Daryl Morey that supported the 2019 Hong Kong protests.
The tweet caused political controversy and issues regarding the partnership between China and the NBA. China skilled Morey’s tweet negatively, stating that they might possibly decide to cut ties with the NBA. Silver, however, responded in support of Morey, stating that he had a right to precise himself and had freedom of speech.
Silver had won many awards and recognition within the sports industry. He was ranked by Sports Business Journal as No. 1 on their 2016 list of the 50 Most Influential People in Sports Business.
In 2015, he was named Executive of the Year by Sports Business Journal, one among Time’s 100 Most Influential People, and one among Fortune’s 50 Greatest Leaders. In 2014 he was also named Executive of the Year by Sports Illustrated.
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Silver has been married to his wife, Maggie, since 2015. they need one daughter together. he’s on the Board of Trustees for Duke University and received the 2016 Distinguished Alumnus Award from the University of Chicago school of law. He also serves on the board of the Lustgarten carcinoma Foundation.