Adam Silver Net Worth

Net Worth $ 40,000,000
Real name Adam Silver
Source of Wealth Sports Commissioner
Profession NBA Commissioner
Spouse/Partner Maggie Grise
Zodiac Aquarius
Gender Male
Height 190 cm / 6 ft 2 inch
Nationality American

Biography

Adam Silver, an American lawyer, and sports commissioner, currently working for the National Basketball Association (NBA).

He initially joined the NBA in 1992 and has slowly progressed to becoming the chief operating officer in 2006. By 2014, when his predecessor Stern retired, Adam Silver became the new commissioner.

Adam Silver’s net worth is estimated at $40 million as of 2022, with his yearly salary being estimated at $10 million.

Early life

Adam Silver was born and raised in Rye, New York, in a Jewish-American family. His parents, Edward and Melba Silver, had four other children before Adam was born: Erik, Ann, Owen, and Emily. Each of his siblings has a distinct career path from his: the eldest brother, Erik, works as a tennis manager, Owen works as an entrepreneur, Ann runs a non-profit, and Emily takes the role of a stay-at-home parent.

He went to school in Rye High School and graduated in 1980.

Adam’s father, Edward, was a well-respected lawyer, specializing in labor law and a senior partner at ‘Proskauer Rose’.

When Silver graduated from high school in 1980, he went to Duke University and got a B.A. in Political Science, graduating with the class in 1984.

His first job was as a legislative aide to a member of the U.S. House of Representatives, and he worked on Capitol Hill for two years before deciding he wanted to get into schooling again.

He earned his J.D. degree in law at the University of Chicago Law School, where he graduated in 1988.

Silver proceeded to work as a law clerk for one year, before getting a job as an associate at a law firm called ‘Cravath, Swaine & Moore’.

Career

Adam Silver was born and raised in New York and is a big New York Knicks fan.

In 1992, Silver joined the NBA as an assistant to the NBA Commissioner David Stern. They later promoted him to the Association’s Chief of Staff, followed by a promotion to Senior Vice President and then President.

While working as a deputy commissioner, Silver participated in the last three bargaining agreements with the National Basketball Players Association, developing the WNBA league, and developing the partnership with Turner Broadcasting, which helped manage the NBA’s digital assets.

Adam Silver took the role of an executive producer for the ‘Michael Jordan to the Max’ movie, and the documentary ‘Whatever Happened to Michael Ray?’.

He also worked as a part of the production crew for ‘Like Mike’ and ‘The Year of the Yao’.[1]

Adam Silver’s Commissioner Position

In 2012, Stern accredited Adam Silver to take his position of being the next NBA Commissioner. By 2014, Stern had stopped working, and the NBA owners agreed to Silver taking on Stern’s role.

Just a couple of months later, TMZ Sports published a video of LA Clippers owner, Donald Sterling, talking to his girlfriend and having unbelievably racist comments. The video went viral really fast, and just a couple of months into the new job position, Silver had to come to a decision that could make or break his career.

Just four days later, Adam Silver came to the public with an announcement that Sterling would be banned from the NBA for life, fined him $2.5 million, which was the maximum fine allowed, He took all his authority over his team - the LA Clippers, persuading the owners to expel him from his ownership.

In the upcoming weeks, he was banned from entering the facilities and forbidden to attend any NBA game. This scandal, and the measures taken afterward, remain one of the most severe in the history of the NBA.

In 2014, in a New York Times article, Silver announced he was in favor of legalizing regulated sports betting, since it can be monitored and regulated, as opposed to underground betting.

In 2020, with the COVID-19 outbreak, Silver faced a big test where he had to decide the fate of 2019/2020 NBA season. He suspended the season until further notice, and in June 2020, Silver decided that a $170 million investment in the NBA Bubble would save the season and keep all NBA players and coaches safe.[2]

Controversies

In 2019, one of the general managers, Daryl Morey, tweeted his support for the Hong Kong protests. Even though he later deleted the Tweet, many varying opinions surfaced. Both he and the official NBA Twitter account addressed his initial statement, but many Chinese partners found this inappropriate.

Silver defended his opinion by mentioning Morey, and anyone else, for that matter, had the right to freedom of speech. Unfortunately, one of the bigger NBA sponsors - the smartphone manufacturer Vivo, called it quits with their sponsorships to the NBA.

Accomplishments

  • Adam Silver was named ‘Executive of the Year’ in Sports Illustrated in 2014.
  • Sports Business Journal named Adam Silver ‘Executive of the Year’ in 2015.
  • Silver was ranked #1 on the list of ‘50 Most Influential People’ in Sports Business Journal in 2015.
  • In 2015, Silver was named one of the ‘100 Most Influential People’ in Time, and ‘50 Greatest Leaders’ in Fortune.
  • Silver’s name is on Duke University’s ‘Board of Trustees’, and he received the 2016 ‘Distinguished Alumnus Award’ from the Chicago Law School.

Personal life

Adam Silver married his wife, Maggie, in 2015. They now share two daughters, the older one was born in 2017, and the younger was born in 2020. Little is known about where they live currently, or what their list of possessions is.

Conclusion

Adam Silver is one of the most well-respected men in the history of the NBA, and his career is proof of how much hard work pays off.

As of 2022, Adam Silver’s net worth is estimated at $40 million, with his yearly salary being estimated at around $10 million.

Adam Silver is currently living with his wife and two daughters.

References

  1. Wikimedia Foundation. (2022, November 4). Adam Silver. Wikipedia. Retrieved November 7, 2022, from https://en.wikipedia.org/wiki/Adam_Silver

  2. Adam Silver. NBA Careers. (2022, February 3). Retrieved November 7, 2022, from https://careers.nba.com/executive/adam-silver/