Since February 1989, Jerral Wayne Jones, an American businessman, has served as the Dallas Cowboys’ owner, president, and general manager. Know about Jerry Jones net worth in this post.
How Much Is Jerry Jones Net Worth?
Dallas Cowboys owner Jerry Jones is an American CEO, entrepreneur, and businessman. Jerry Jones net worth is $11 billion, according to Forbes. As an executive vice president at Modern Security Life of Springfield, Missouri, Jerry Jones made his first fortune. Jones Oil and Land Lease, which conducts oil and gas exploration in Arkansas, was also founded and owned by him. For $140 million, Jones bought the Dallas Cowboys from Jerry Jones in 1989. The current market value of the squad exceeds $6.5 billion.
Life In The Beginning
When Jerry Jones was a child, his family moved to North Little Rock, Arkansas, from his birthplace in Los Angeles, California. As a result of his football scholarship, he attended the University of Arkansas and North Little Rock High School before finishing his education at the latter institution.
He was a Kappa Sigma fraternity brother, football team co-captain, and all-Southwest Conference offensive tackle in college. Jimmy Johnson, a former colleague of Jones’ at Arkansas, would become Jones’ first head coach when he purchased the Cowboys.
The Teamsters union, headed by Jimmy Hoffa, loaned Jones a million dollars in 1965 after he graduated from college to start a chain of Shakey’s Pizza restaurants in Missouri. Afterward, Jones left the experiment in the hands of his father’s insurance organization, Modern Security Life of Springfield. He served as the company’s executive vice president. Late in his career, he attempted to launch various firms. Jones wanted to acquire the NFL’s San Diego Chargers with Teamster money at one point.
When he returned to Arkansas in 1970, he earned a Master’s degree in Business Administration. Jones founded the privately held corporation Jones Oil and Land Lease, which specializes in natural resource exploration. The following two decades were devoted to accumulating wealth and hatching schemes to return to the football field.
Jones and Yankee Global Enterprises formed Legends Hospitality in 2008. Cowboys Stadium, for example, is served by Legends, a provider of food, drink, merchandise, retail, and stadium operations services.
Ownership Of The Cowboys
On February 29, 1989, Jerry Jones paid $140 million for the Dallas Cowboys. After accounting for inflation, that amounts to over $300 million today. The only coach in the team’s history, Tom Landry, was soon replaced by Jimmy Johnson, a former teammate of Landry’s at Arkansas. This included firing the general manager and taking responsibility for all football operations himself.
The Cowboys went 1-15 in Jones’ first season as owner. Jones and Johnson made a speedy turnaround and the squad finished the season with a record of 7-9 the next year. Cowboys went 11-5 in 1991 and entered the playoffs; they lost in the second round, albeit they still advanced. Dallas Cowboys beat Buffalo Bills in Super Bowl XXVII in the 1992-93 season. They beat the Bills in Super Bowl XXVIII the following year.
A power conflict erupted between Jones and Johnson in 1993, and the two’s relationship began to crumble. After the Cowboys won their second Super Bowl under Johnson in March 1994, Jones slammed Johnson for saying that any coach could have led the team to victory in the championship game. Johnson received a $2 million incentive for helping the Cowboys win their second consecutive Super Bowl on March 28, 1994.
Barry Switzer, a fellow University of Arkansas alum, supplanted Johnson as the Cowboys’ Super Bowl XXX-winning quarterback in the 1995 season. Some notable players on the squad were Johnson holdovers Troy Aikman, Emmitt Smith, Michael Irvin, and Larry Brown, who won Super Bowl XXXII. 70% of the starting lineup came from Johnson’s years, hence he was given substantial credit for the team’s third Super Bowl victory. Since Super Bowl XXX, the Cowboys have failed to win another championship game.
In Jones’ time as owner, the Cowboys’ worth has increased from $140 million to over $5.5 billion, making Jones a multi-billionaire in the meantime. Much of the NFL’s success since 1989 can be traced back to Jones. At a time when ABC, CBS, and NBC were trying to persuade the NFL to accept lower revenue for television rights, he championed the then-fledgling network Fox. Since its shift to Fox, the NFL has become the richest sports organization in the world, raking in more than $10 billion in revenue per season.
Only Mike Brown (Cincinnati owner) and Jones (Seattle’s owner) can claim to be both general manager and owner at once.
David Magee’s 2008 book, Playing to Win, focuses on Jones. As a result of the sacking of Landry, Jones stated that he was partly responsible for the breakdown of his friendship with Jimmy Johnson. Johnson has yet to be inducted into the Dallas Cowboys “Ring of Honor” as of this writing. While coaching the Dallas Cowboys in 2014, he was asked why Johnson was not in the Ring of Honor despite winning two Super Bowls. Jones retorted: “It’s a crime to be disloyal… The betrayal was too much for me to bear.”
The Pro Football Hall of Fame enshrined Jones in 2017.
In college, he met his future wife Gene, a former beauty queen who had competed in the Miss Universe competition. Aside from Jerry Sr., Stephen and Charlotte are the couple’s only offspring. They have nine great-grandchildren in total as well. After graduating from Arkansas State University with a degree in business administration, Stephen was hired by the Dallas Cowboys as their COO, executive vice president, and director of player personnel.
In addition to being a Stanford grad, Charlotte is also the vice president and director of the charity and special events for the Cowboys. To pursue a legal education, their son Jerry Jr. attended Georgetown University and Southern Methodist University. Jerry Jr. is the Cowboys’ vice president of sales and marketing, as well as the team’s chief financial officer.
Jerry Jones and his wife possess a sprawling mansion in Dallas’ Highland Park neighborhood, which is estimated to be worth $20 million. Blue Star Land, a real estate development company under Jones’ leadership, is another business venture. Acquisition of a 200-acre land in 2018 cost the corporation $38 million, which would be converted into a business park called Star Business Park.
As of 2019, the corporation has acquired an additional 60 acres in the area. Cowboys merchandising distribution and sales facility will be built on a portion of the property by Blue Star.
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