Have you ever wondered what the net worth of Adam Silver is? Well, the American Businessman, lawyer, and sports executive is worth a fortune.
Silver took the role of commissioner of the National Basketball Association in 2014, and since, the league has been as profitable as ever.
As of May 2023, Adam silver has a net worth of $40 million. This post will dive into how he achieved such great success.
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Adam Silver was born in New York City on April 25, 1962. He was raised in Rye, New York, a Westchester county village, where he first developed an interest in the New York Knicks as a youngster.
Silver attended Rye High School and, upon graduating, enrolled at Duke University. At Duke, he obtained a bachelor’s degree in arts in 1984.
He then received his law degree from the University of Chicago Law School in 1988, and began working litigation associate at the New York-based law firm Cravath, Swaine & Moore.
NBA Career: Early Stages
Silver always had a passion for basketball and knew that the basketball world was where he wanted to be.
He was fortunate enough to become the assistant of David Stern, the NBA commissioner at the time. Stern had worked at the same law firm as Silver’s father and was familiar with the family.
Silver served as the NBA’s deputy commissioner and chief operating officer for eight years. While holding that position, he co-founded the WNBA League and the NBA Development League.
He also helped create the NBA’s collaboration with Turner Broadcasting to handle its digital assets, NBA China, and the last three league-wide collective bargaining agreements with the National Basketball Players Association.
Silver also worked as president and COO of NBA Entertainment for eight years. Since his 1992 NBA debut, Silver has held the positions of Chief of Staff, Senior Vice President and COO, NBA Entertainment, and Special Assistant to the Commissioner.
On October 25, 2012, David Stern announced that he would leave his position as NBA Commissioner on February 1. Stern then urged him to assume control of that role.
Silver faced his first controversy as commissioner very quickly after a video of Los Angeles Clippers owner Donald Sterling speaking to his fiancée and using racial slurs was released by TMZ Sports on April 25, 2014.
In response, Silver declared that Sterling had been permanently banned from the NBA on April 29, 2014. Sterling was also given a $2.5 million fine by Silver, the maximum allowed per NBA regulations.
Sterling’s influence over the Clippers was effectively taken away by Silver, who then asked the team’s owners to vote to have Sterling’s ownership status changed.
Sterling was not allowed to enter any Clippers buildings or attend any NBA games. one of the most severe punishments ever meted out to an owner of a professional sports team.
Silver’s next big challenge would come on October 4, 2019, when Houston Rockets general manager Daryl Morey expressed his support for the 2019 Hong Kong protesters.
Morey later deleted the message. On October 6, Morey and the NBA each stated the original tweet; Morey insisted that he never intended for his remark to insult anyone, and the NBA referred to the tweet as “regrettable.”
The comments received attention and were subsequently criticized on both sides of the political aisle by several US politicians.
On October 7, Silver defended Morey’s right to free speech while respecting China’s government and businesses’ right to retaliate to defend the league’s response to the tweet.
The situation fizzled out, and the relationship between China and the NBA is still very strong.
However, Silver stood up for his team owner and the right to free speech with the chance of losing one of the NBA’s biggest international supporters.
This show’s what kind of commissioner Silver is, and what he truly stands for.
Adam Silver Achievements
Silver was one of the sports industry’s most influential leaders in halting the pandemic. Under his strict and unyielding direction, the NBA was the first league to suspend operations on March 11.
The league created a 113-page health and safety protocol document after consulting with leading epidemiology experts and the Centers for Disease Control and Prevention to begin the season in a bubble environment near Orlando.
The restart saved the season, and there were no positive Covid-19 testing results within the bubble, and Lebron James and the Los Angeles Lakers took home the crown as NBA champions.
His work earned him Sports Business Journal Executive of the year for the second time in 2021. Silver has also been named one of Time’s 100 most influential people and one of Fortune’s 50 greatest leaders.
Adam Silver Net Worth 2023
As of May 2023, Adam Silver has a net worth of $40 million. His work as an NBA commissioner has made him very wealthy. However, Silver is much more focused on the revenue created by the NBA as a whole.
As well as ensuring his players and team owners are in good standing with one another and have their views aligned.
Silver is well respected within the sports world and is a significant reason why the NBA is as successful as it is today.
It’s been a long journey for Silver; each day, he worked hard on his craft, so when the opportunity presented itself. He was ready.
Control what you can control, and that’s putting in the hard work daily, and good things will come your way.
Knowledge Is Power
Before taking his talents to the NBA, Silver received his Law degree from the Chicago law school and spent years gaining knowledge in his field.
This is not to say you need a master’s degree, but you must become an expert in your field to succeed.
Each day, try to learn something new or study past material until you are where you need to be.