How much does adam silver make

KEY POINTS

• NBA commissioner Adam Silver has an estimated net worth of $35 million
• Silver's contract as NBA commissioner runs through the 2023-24 season
• He will have earned $100 million from his position alone by the end of his current contract

Adam Silver, the fifth and current commissioner of the NBA, is earning millions from his position.

Silver receives an annual salary of $10 million as NBA commissioner, according to Celebrity Net Worth. It's no surprise that the 59-year-old sports executive has a massive net worth of $35 million.

Silver succeeded David Stern in 2014 when his 30-year tenure came to a close. In 2018, his contract as NBA commissioner was extended through the 2023-24 season. Silver will have earned $100 million from his position alone by the end of his current contract, the outlet noted.

Silver also reportedly receives bonuses for certain achievements, such as reaching revenue or expansion goals, according to the outlet.

However, he may have earned considerably less last year as the NBA reduced the base salaries of 100 of its top-earning executives around the world by 20% amid the coronavirus pandemic, ESPN's Adrian Wojnarowski reported, citing unnamed sources. The NBA commissioner was reportedly among those whose salaries were affected.

The New York native, who is also a lawyer, joined the NBA in 1992 as deputy commissioner and chief operating officer, a position he held for eight years.

During this period, he was involved in various major endeavors, including the negotiation of the league’s last three collective bargaining agreements with the National Basketball Players Association. Silver also contributed to the development and expansion of the Women’s National Basketball Association (WNBA), the outlet said.

Then-NBA commissioner Stern endorsed Silver to be his successor in 2012 after he announced his retirement, which took effect on Feb. 1, 2014. Later that year, after facing multiple challenges in his first year as NBA commissioner, Silver received Sports Illustrated’s 2014 Executive of the Year award.

Silver got into a predicament when then-Clippers owner Donald Sterling was caught on tape making racist remarks to his girlfriend at the time. Following an investigation, the commissioner announced that Sterling was banned for life from the NBA and fined $2.5 million, according to the Bleacher Report.

Silver also wrote an op-ed that year supporting legalized sports betting despite the league’s longstanding opposition to it. Five years later, the federal prohibition on state-sponsored sports betting was removed, and a dozen states began to operate legal sportsbooks, ESPN previously reported.

Prior to being appointed NBA commissioner, Silver also served as senior vice president and COO of NBA Entertainment, NBA chief of staff and special assistant to the commissioner, as per Celebrity Net Worth.

During his stint with NBA Entertainment, he served as executive producer of the IMAX movie "Michael Jordan to the Max," the documentary "Whatever Happened to Michael Ray?" (2000) and the films "Like Mike" (2002) and "Year of the Yao."

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What is Adam Silver's Net Worth and Salary?

Adam Silver is an American businessman, lawyer and sports executive who has a net worth of $40 million. Adam Silver is the fifth and current commissioner of the National Basketball Association (NBA).

Salary and Contract

Silver's annual salary is $10 million. In June 2018, the NBA extended Adam Silver's contract through the 2023-2024 season. By the end of that contract, he will have earned exactly $100 million in salary alone from the league. He likely also earns bonuses for achieving various milestones and revenue/expansion goals.

Early Life and Early Career

Adam Silver was born in Rye, New York, a suburb of New York City, on April 25, 1962. He attended Rye High School, graduating in 1980, and continued his education at Duke University, where he majored in political science. After graduating from college in 1984, he worked for Les AuCoin, a member of the U.S. House of Representatives, for a year as a legislative aid. He then attended the University of Chicago Law School, graduating with a J.D. degree in 1988. After law school Silver worked as a clerk for Judge Kimba Wood of the U.S. District Court for the Southern District of New York. He then joined the law firm Cravath, Swaine & Moore as an associate.

NBA Career

Silver initially joined the NBA in 1992 as the Deputy Commissioner and Chief Operating Officer for eight years. In that position, he was involved in ventures such as the negotiation of the league's last three collective bargaining agreements with the National basketball Players Association, the development of the WNBA league, the development of the NBA Development League, the creation of NBA China, and the partnership with Turner Broadcasting for them to manage the NBA's digital assets. He has also held the positions of Senior VP & COO of NBA Entertainment, NBA Chief of Staff and Special Assistant to the Commissioner. While with NBA Entertainment, Silver served as executive producer on the IMAX movie "Michael Jordan to the Max," the documentary "Whatever Happened to Michael Ray?" (2000), and the films "Like Mike" (2002) and "Year of the Yao."

In October 2012, David Stern (the NBA Commissioner at the time) endorsed Silver to be the next NBA Commissioner when he announced that he would be stepping down from the position on February 1, 2014.

Andy Lyons/Getty Images

In late April, 2014, Adam Silver was put through his first major test as league commissioner when he was forced to deal with racist remarks made by Clippers owner Donald Sterling. Sterling was caught on tape making extremely racist comments to his girlfriend. Within a few days of the tapes being made public, Silver and the NBA announced that they had decided to ban Sterling from all NBA events for life. Silver and the NBA also announced that they will do whatever they can to force him to sell the team. This was one of the most severe punishments ever imposed on the owner of a professional sports team.

Other notable incidents Silver has dealt with as commissioner include a 2019 tweet by Houston Rockets general manager Daryl Morey that supported the 2019 Hong Kong protests. The tweet caused political controversy, and issues relating to the partnership between China and the NBA. China responded to Morey's tweet negatively, stating that they would possibly decide to cut ties with the NBA. Silver, however, responded in support of Morey, stating that he had a right to express himself and had freedom of speech.

Silver had won many awards and recognition in the sports industry. He was ranked by Sports Business Journal as No. 1 on their 2016 list of the 50 Most Influential People in Sports Business. In 2015, he was named Executive of the Year by Sports Business Journal, one of Time's 100 Most Influential People, and one of Fortune's 50 Greatest Leaders that year. In 2014 he was also named Executive of the Year by Sports Illustrated.

Personal Life

Silver has been married to his wife, Maggie, since 2015. They have one daughter together. He is on the Board of Trustees for Duke University, and won received the 2016 Distinguished Alumnus Award from the University of Chicago Law School. He also serves on the board of the Lustgarten Pancreatic Cancer Foundation.

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