Sizing up Donald Sterling’s other business interests
Donald Sterling is number 972 on Forbes’ list of billionaires, with 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.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
