It’s no secret you have to be a rich person to own a professional sports team. The most valuable NFL teams are worth billions, so you typically have to be extremely rich to buy one. Or you have to be smart about buying one. Dallas Cowboys owner Jerry Jones is rich and, no matter what you think of him, smart with his money. So what is his net worth, and how does he spend his money? Let’s find out.
What was Jerry Jones’ early life like?
Before we dive into his net worth, let’s discuss the man himself. You might think of him as a down-home southern boy, but he was born in Los Angeles. However, his family moved to North Little Rock, Arkansas, when Jones was a young boy.
Jones was a high school football star who played collegiately at the University of Arkansas. He co-captained the Razorbacks’ 1964 national championship team, and even though he found success on the football field, he never intended to make that his career.
Jones earned a master’s degree in business in 1970 and then went to work for his father at Modern Security Life Insurance Company. He was vice president at the company.
What is Jerry Jones’ net worth?
The Cowboys are the most valuable sports franchise on Earth, and much of Jerry Jones net worth is tied to their value. The team is worth $4.8 billion, and Jones’ fortune comes in at $5.6 billion, according to Celebrity Net Worth. As the team’s value increases, so will Jones’ net worth.
When did he buy the Cowboys?
Remember how we mentioned a minute ago that Jones is smart with his money? Well, that’s especially true when it comes to the Cowboys.
He bought the team for just $140 million in 1989, at a time when it hardly resembled the championship-winning model franchise of the 1970s. Jones remade the team in his image, and five years later the team won the first of three Super Bowl titles in four years in the 1990s. The Cowboys are worth 34 times what Jones paid for them, which is an incredible return on investment.
That smart money move makes Jerry Jones one of the richest sports team owners in the United States.
How did Jerry Jones make his money?
Having the cushy vice president job at his dad’s insurance company put Jones on the right path professionally. He also started a pizza restaurant chain in Missouri, which later failed. However, he built his billion-dollar net worth with black gold.
Jones Oil and Land Lease raked in the money by finding fruitful oil and gas fields. He borrowed a lot of money to start the business, but the prolonged success pumping oil helped him get above even and start building his fortune.
How does he spend his fortune?
So, Jerry Jones is worth billions of dollars, but how does he spend his money?
Well, some of it goes toward maintaining his house in Highland Park, Texas, which cost $20 million, according to The Street.
We also know he likes to donate money to politicians. Jones is one of several NFL owners who gave money to Donald Trump. Was that one of his bad investments? Maybe. The Cowboys owner later called Trump’s interest in the NFL’s national anthem issue problematic.
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