A Jewish billionaire Jerry M. Reinsdorf (born February 25, 1936) is a CPA, lawyer and an owner of the NBA's Chicago Bulls and the MLB's Chicago White Sox.
He started his professional life as a tax attorney with the Internal Revenue Service. He has been the head of the White Sox and Bulls for over 25 years.
He made his initial fortune in real estate, taking advantage of the Frank Lyon Co. v. United States decision by the United States Supreme Court which allowed economic owners of realty to sell property and lease it back, while transferring the tax deduction for depreciation to the title owner.
Reinsdorf was born to a Jewish family in Brooklyn, New York. He attended Erasmus Hall High School in Brooklyn, and he was the son of a sewing machine salesman.
Reinsdorf led a group that bought the Chicago White Sox baseball team in 1981 for $19 million. He still owns an estimated 19% stake. He and investors bought a controlling stake in the NBA's Chicago Bulls for $9.2 million in 1985, one year after the team drafted Michael Jordan.