Shelly Sterling Net Worth

Overview

Shelly Sterling, born Rochelle Stein on September 2, 1934, is an American businesswoman and philanthropist. She gained prominence as the wife of Donald Sterling, the former owner of the Los Angeles Clippers. Their marriage, spanning several decades, was marked by public attention, especially during their ownership of the NBA team. Shelly was known as one of the franchise’s biggest fans. In 2014, after Donald Sterling faced controversy and was banned from the NBA, Shelly played a key role in arranging the sale of the Clippers to Steve Ballmer for $2 billion. Beyond her involvement with the Clippers, Shelly has been actively involved in various charitable activities and community service initiatives. She comes from a Jewish family, which influenced her values and philanthropic endeavors. She attended the University of Southern California (USC), where she developed a keen interest in real estate and business. She started her career in real estate, working alongside her husband in the family-owned business before expanding her own ventures. She is widely respected for her philanthropic work.

Los Angeles Clippers (former co-owner)

Co-owner

What Is Shelly Sterling’s Net Worth?

As of recent estimates, Shelly Sterling’s net worth is around $2 billion. This substantial wealth is primarily attributed to her involvement in the real estate sector and her co-ownership of the Los Angeles Clippers. Over the years, Shelly Sterling has accumulated considerable wealth through shrewd investments in fine art and various other successful business endeavors.

Key Assets and Investments

Shelly Sterling’s financial portfolio is diverse, encompassing significant real estate holdings and other valuable assets. Together with her husband Donald Sterling, she co-owned Donald T. Sterling Corporation, which held over 100 properties in Los Angeles County. These properties included apartments and high-rise structures, making them one of the largest residential landlords in the area. While the precise details of all properties are not publicly available, some notable examples include:

A Monterey Colonial home in Beverly Hills, acquired in 2014 for $2.9 million and listed for rent at $12,500 per month.
A traditional-style home in Beverly Hills, valued at $2.8 million in 2013, and listed for rent at $11,000 per month.
A duplex in Mid-City, listed for rent at $4,000 per month.

These real estate investments reflect a long-term buy-and-hold strategy that has contributed significantly to Shelly Sterling’s net worth.

The Clippers Sale and Its Impact

One of the most significant events impacting Shelly Sterling’s net worth was the sale of the Los Angeles Clippers. In 2014, after Donald Sterling faced a lifetime ban from the NBA due to racially charged remarks, Shelly Sterling played a crucial role in negotiating the sale of the team to former Microsoft CEO Steve Ballmer. The sale was finalized for a record $2 billion. As part of the agreement, Shelly Sterling secured several unique perks:

The title of “Clippers Number One Fan.”
The designation of “Owner Emeritus.”
12 tickets to every Clippers game, including two courtside seats.
Six parking spaces for each game.
12 VIP passes with access to exclusive club lounges and media rooms.
Three championship rings if the Clippers won an NBA title.

While the sale significantly boosted Shelly Sterling’s financial standing, it also marked a turning point in her relationship with the Clippers, transitioning from co-owner to a celebrated fan.

Legal Battles and Settlements

Shelly Sterling has been involved in several high-profile legal battles, which have both influenced and highlighted aspects of her financial situation. One notable case involved V. Stiviano, Donald Sterling’s former companion. Shelly Sterling sued Stiviano to recover her interest in approximately $3.6 million in cash and gifts, including luxury cars and a house, arguing that these assets were community property acquired during her marriage. In 2015, a judge ordered Stiviano to pay Shelly Sterling $2.6 million, affirming the principle that community property cannot be gifted away without the written consent of both spouses.

The Sterlings have also been involved in lawsuits against former players, coaches, and even each other. After selling the Clippers to Steve Ballmer without her husband’s consent, Shelly faced significant fallout, including legal challenges from Donald Sterling who attempted to block the sale. These legal entanglements underscore the complexities of managing substantial wealth and assets within a marriage, particularly amidst public controversies.