Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

Sizing up Donald Sterling’s other business interests

Nancy Marshall-Genzer Apr 30, 2014
HTML EMBED:
COPY

Sizing up Donald Sterling’s other business interests

Nancy Marshall-Genzer Apr 30, 2014
HTML EMBED:
COPY

Donald Sterling is number 972 on Forbes’ list of billionaireswith a net worth of $1.9 billion. Forbes values the LA Clippers at $430 million, though some say they could be worth more.

The bulk of Sterling’s wealth comes from real estate — buildings in LA.  So, will his real estate business be tarnished because Sterling has been banned from the game for racist comments?

“Yes, of course,” says Robert Baade, an economist at Wake Forest University. Baade wouldn’t be surprised if people started boycotting all things Sterling.

Any fall out will be short-lived, according to Leonard Baron, a San Diego realtor and lecturer at San Diego State.  He doesn’t think Sterling will lose any tenants. “People renting are going to be like, ‘What’s the price and what’s the location?'” he says. “So I doubt it’s going to have any lasting effects at all.”

And, Baron says, if Sterling wants to sell any real estate, there are plenty of buyers willing to pay top dollar.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.