Jerry Jones, an American CEO, entrepreneur, and owner of the NFL’s Dallas Cowboys, boasts a staggering net worth of $13 billion. Known for his significant impact on the Cowboys and the NFL, Jones has amassed his fortune through various business ventures, strategic investments, and, most notably, his ownership of the Dallas Cowboys. In this article, we will delve into the details of Jerry Jones’ net worth, his early life, career achievements, and the various factors contributing to his financial success.
Early Life and Education
Childhood and Family Background
Jerry Jones was born in Los Angeles, California, on October 13, 1942, and grew up in North Little Rock, Arkansas. His father, Pat Jones, owned an insurance company, which gave Jerry an early insight into the business world. Jones attended North Little Rock High School, where he excelled in football.
College Years
Jones attended the University of Arkansas on a football scholarship, playing as an offensive lineman. He was a co-captain of the 1964 National Championship team and played under the legendary coach Frank Broyles. His college football experience laid the foundation for his future career in sports management and business.
Business Ventures and Early Career
Modern Security Life of Springfield
After graduating in 1965, Jones borrowed $1 million from the Teamsters Union, led by Jimmy Hoffa, to open a series of Shakey’s Pizza restaurants in Missouri. Although this venture failed, Jones gained valuable business experience and soon joined his father’s insurance company, Modern Security Life of Springfield, as executive vice president.
Jones Oil and Land Lease
In the late 1960s, Jones founded Jones Oil and Land Lease, a privately held company involved in natural resource prospecting. This venture proved highly successful, allowing Jones to amass significant wealth and lay the groundwork for his future investments.
The Dallas Cowboys Purchase
Acquisition of the Cowboys
On February 29, 1989, Jerry Jones purchased the Dallas Cowboys for $140 million, equivalent to around $300 million today. At the time, the Cowboys were struggling both on and off the field. Jones took a hands-on approach, immediately firing longtime coach Tom Landry and general manager Tex Schramm, and appointing his former Arkansas teammate Jimmy Johnson as head coach.
Turning the Team Around
Under Jones and Johnson, the Cowboys quickly turned their fortunes around. After a 1-15 season in 1989, the team improved to 7-9 in 1990 and made the playoffs in 1991 with an 11-5 record. The Cowboys won three Super Bowls in four years (1992, 1993, and 1995), establishing themselves as one of the NFL’s most dominant teams.
Building the Cowboys Empire
Financial Growth and Team Valuation
Under Jerry Jones’ ownership, the Dallas Cowboys’ value has skyrocketed from $140 million to approximately $9 billion. Jones’ savvy business acumen and strategic decisions have played a pivotal role in this growth. He negotiated lucrative television deals, secured major sponsorships, and spearheaded the construction of AT&T Stadium, a billion-dollar state-of-the-art venue that has redefined the fan experience.
AT&T Stadium
Opened in 2009, AT&T Stadium is one of the most technologically advanced stadiums in the world, featuring a retractable roof and the world’s largest high-definition video screen. The stadium has hosted numerous high-profile events, including Super Bowl XLV, NCAA Final Four, and various concerts, generating substantial revenue for the Cowboys and further increasing the team’s value.
Jerry Jones’ Influence on the NFL
Television Deals and Sponsorships
Jones has been instrumental in expanding the NFL’s revenue through television deals and sponsorships. He played a crucial role in securing the then-fledgling network Fox as the NFC’s primary broadcast partner, significantly increasing the league’s television revenues. His efforts have contributed to the NFL’s status as the world’s richest sports league, with annual revenues exceeding $10 billion.
Legends Hospitality
In 2008, Jones co-founded Legends Hospitality with Yankee Global Enterprises. Legends provides food, beverage, merchandise, retail, and stadium operations services to entertainment venues, including Cowboys Stadium. This venture has further diversified Jones’ business portfolio and increased his net worth.
Personal Life and Philanthropy
Family and Personal Life
Jerry Jones met his wife, Gene, while in college. They have three children: Stephen, Charlotte, and Jerry Jr., all of whom hold executive positions within the Dallas Cowboys organization. The Jones family is known for their philanthropic efforts, contributing to various charitable causes and community projects.
Real Estate Investments
Jones owns an enormous home in the Highland Park area of Dallas, valued at around $20 million. He also heads Blue Star Land, a real estate development firm. In 2018, the company purchased a 200-acre site for $38 million to develop Star Business Park, and in 2019, they acquired an additional 60 acres nearby.
Conclusion
Jerry Jones’ net worth of $13 billion is a testament to his business acumen, strategic vision, and relentless drive. From his early ventures in the oil and gas industry to his transformative ownership of the Dallas Cowboys, Jones has consistently demonstrated his ability to create and grow wealth. His influence on the NFL and contributions to the sports world have cemented his legacy as one of the most successful and impactful owners in professional sports history.
