Jerry Jones, the owner of the Dallas Cowboys, is one of the richest sports franchise owners in the world. His net worth is estimated to be over $10 billion, making him one of the richest people in the United States. But how did Jones amass such an enormous fortune? In this article, we will delve into the life and career of Jerry Jones, exploring his humble beginnings, his rise to success, and the key factors that contributed to his immense wealth.
The Early Life of Jerry Jones
Jerry Jones was born on October 13, 1942, in Los Angeles, California. His family moved to North Little Rock, Arkansas, when he was a young boy. Jones grew up in a middle-class family and developed a passion for sports from an early age. He was an excellent football player in high school and earned a scholarship to the University of Arkansas, where he played football and graduated with a degree in business administration in 1965.
Early Business Ventures
After college, Jones worked for his father’s insurance company, Modern Security Life Insurance Company. However, he soon became disenchanted with the insurance industry and decided to pursue his own business ventures. In 1968, Jones founded Jones Oil and Land Lease, a company that specialized in oil and gas exploration. The company was moderately successful, but Jones’ big break came when he discovered a large oil reserve in the Arkoma Basin in Oklahoma. The discovery made Jones a millionaire before the age of 30.
The Purchase of the Dallas Cowboys
In 1989, Jones purchased the Dallas Cowboys from H.R. “Bum” Bright for $140 million. At the time, the team was struggling financially and on the field. Jones’ purchase of the team was seen as a risky move, but he was determined to turn the franchise around.
Turning the Cowboys Around
Jones’ first move as owner was to fire the team’s long-time coach, Tom Landry, and hire Jimmy Johnson, a former University of Miami coach. Johnson’s arrival marked a new era for the Cowboys, and the team quickly became a dominant force in the NFL. The Cowboys won three Super Bowls under Johnson’s leadership, and the team’s value began to soar.
Stadium and Sponsorship Deals
In 2009, Jones opened AT&T Stadium, a state-of-the-art facility that became the home of the Cowboys. The stadium’s construction cost was approximately $1.2 billion, but it has generated hundreds of millions of dollars in revenue for the team through sponsorship deals and premium seating sales. The stadium has also hosted numerous high-profile events, including the Super Bowl, the NBA All-Star Game, and concerts by top performers.
Other Business Ventures
In addition to his ownership of the Cowboys, Jones has invested in several other business ventures, including:
Paxton Energy
Jones founded Paxton Energy, a company that specializes in oil and gas exploration, in the 1980s. The company has been highly successful, and Jones has used his expertise in the energy industry to expand his business empire.
Real Estate Development
Jones has invested heavily in real estate development, particularly in the Dallas-Fort Worth area. He has developed several upscale residential communities, office buildings, and shopping centers, generating significant revenue from rental income and property appreciation.
Food and Beverage Industry
Jones has also invested in the food and beverage industry, owning several restaurants and bars in the Dallas area. His most notable venture is the Cowboys-themed bar and restaurant, The Star in Frisco, which has become a popular destination for fans and locals alike.
Philanthropy and Community Involvement
Despite his immense wealth, Jones is known for his philanthropic efforts and community involvement. He has donated millions of dollars to various charities, including the United Way, the Salvation Army, and the Boys and Girls Clubs of America. Jones has also been involved in several community development projects, including the construction of a youth football field in Dallas and the renovation of a local park.
The Jerry Jones Foundation
In 1989, Jones established the Jerry Jones Foundation, a non-profit organization that focuses on supporting education, health, and youth development initiatives. The foundation has distributed millions of dollars in grants to various organizations and has supported several community programs, including the Cowboys’ own youth football program.
The Future of Jerry Jones’ Empire
As Jones approaches his 80s, he is showing no signs of slowing down. He remains actively involved in the Cowboys’ operations and continues to expand his business empire. Jones’ son, Stephen, is heavily involved in the team’s operations and is likely to take over as owner when Jones retires.
Jones’ legacy extends beyond his business success. He has become an iconic figure in the world of sports, known for his flamboyant personality, his cowboy hat, and his unwavering dedication to the Cowboys. As the NFL continues to grow in popularity, Jones’ wealth and influence are likely to continue to grow, cementing his status as one of the richest and most powerful men in sports.
| Category | Estimate |
|---|---|
| Net Worth | $10 billion+ |
| Annual Income | $500 million+ |
| Value of Cowboys | $5.5 billion+ |
| Value of AT&T Stadium | $1.2 billion+ |
In conclusion, Jerry Jones’ rags-to-riches story is a testament to his hard work, determination, and business acumen. From his humble beginnings in Arkansas to his current status as one of the richest men in sports, Jones has built a business empire that will continue to thrive for generations to come.
What is Jerry Jones’ net worth?
Jerry Jones’ net worth is estimated to be around $8.5 billion, making him one of the richest people in the world. His wealth comes primarily from his ownership of the Dallas Cowboys, which he purchased in 1989 for $140 million. Today, the team is valued at over $5.5 billion, making it the most valuable sports team in the world.
In addition to his ownership of the Cowboys, Jones also earns revenue from the team’s stadium, AT&T Stadium, which generates hundreds of millions of dollars in revenue each year from concerts, events, and sponsorships. He also has investments in real estate, oil and gas, and other business ventures, which contribute to his net worth.
How did Jerry Jones make his fortune?
Jerry Jones made his fortune through a combination of smart business deals and savvy investments. After graduating from college, Jones worked in the oil and gas industry, where he made a small fortune by drilling successful wells. He then used that money to invest in real estate, buying and selling properties and earning significant profits.
Jones’ big break came in 1989, when he purchased the Dallas Cowboys for $140 million. At the time, the team was struggling financially, but Jones saw an opportunity to turn the team around and make a profit. He hired coach Jimmy Johnson and launched a series of successful marketing initiatives, which helped to increase the team’s value exponentially. Today, the Cowboys are one of the most valuable sports teams in the world, and Jones is one of the richest people in the world.
What is Jerry Jones’ background?
Jerry Jones was born on October 13, 1942, in Los Angeles, California. He grew up in North Little Rock, Arkansas, where he developed a passion for football. Jones played football in high school and was a co-captain of the team. He then attended the University of Arkansas, where he was a lineman on the school’s 1964 national championship team.
After graduating from college, Jones went into the oil and gas business, where he worked for several years before striking out on his own. He began buying and selling oil and gas wells, eventually making a small fortune. Jones then used that money to invest in real estate, buying and selling properties and earning significant profits.
How did Jerry Jones become the owner of the Dallas Cowboys?
Jerry Jones became the owner of the Dallas Cowboys in 1989, when he purchased the team from H.R. “Bum” Bright for $140 million. At the time, the team was struggling financially, and Bright was looking for a buyer. Jones saw an opportunity to turn the team around and make a profit, and he negotiated a deal to purchase the team.
After purchasing the team, Jones hired coach Jimmy Johnson, who had been a teammate of Jones’ at the University of Arkansas. Johnson helped to turn the team around, leading the Cowboys to several successful seasons and two Super Bowl victories. Jones’ ownership of the team has been marked by controversy, including a bitter feud with coach Jimmy Johnson and several high-profile scandals involving players.
What philanthropic efforts is Jerry Jones involved in?
Jerry Jones is involved in several philanthropic efforts, including the United Way and the Boys & Girls Clubs of America. He has also been a major supporter of the Salvation Army, donating millions of dollars to the organization over the years. In addition, Jones has been involved in several charity golf tournaments and other events, raising money for a variety of causes.
Jones has also been involved in several efforts to support education and healthcare in his home state of Arkansas. He has donated money to the University of Arkansas, where he attended college, and has supported several hospitals and healthcare organizations in the state. Jones has also been involved in several initiatives to support the troops, including donating money to organizations that support wounded veterans.
How does Jerry Jones’ management style impact the Cowboys?
Jerry Jones’ management style has had a significant impact on the Dallas Cowboys. Jones is known for being a hands-on owner, who is heavily involved in all aspects of the team’s operations. He has been criticized for meddling in football decisions, which has led to conflicts with coaches and players.
Despite the controversy, Jones’ management style has also led to several successful seasons and two Super Bowl victories. He has been praised for his ability to market the team and increase its value, and has been credited with helping to turn the NFL into a multi-billion dollar industry. Jones’ passion for the team and his commitment to winning have also helped to create a winning culture within the organization.
What is Jerry Jones’ relationship like with his family?
Jerry Jones has a close relationship with his family, particularly his wife, Gene, and his three children, Stephen, Charlotte, and Jerry Jr. His family members are all involved in the Cowboys’ organization, with Stephen serving as the team’s chief operating officer and Charlotte serving as the team’s vice president and chief brand officer.
Jones has spoken publicly about the importance of his family and the role they have played in his success. He has said that his family has been a source of strength and support throughout his career, and has credited them with helping him to make tough decisions and stay focused on his goals. Despite the demands of running a professional sports team, Jones has made it a priority to spend time with his family and prioritize their well-being.