Jerry Jones is an American businessman and philanthropist who is best known as the owner of the NFL’s Dallas Cowboys. Jerry Jones has an estimated net worth of $11 billion dollars. When he was an executive vice president of Modern Security Life in Springfield, Missouri, Jerry Jones amassed his first substantial wealth.
He was also the creator and owner of Jones Oil and Land Lease, which is dedicated to the exploration of natural resources such as oil and natural gas in Arkansas and the surrounding areas. Jones purchased the Dallas Cowboys in 1989 for a total of $140 million dollars. The club is now worth at least $6.5 billion, according to current estimates.
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Infancy and Adolescence
Jerry Jones was born in Los Angeles, California, in 1942, and grew up in North Little Rock, Arkansas, where he still resides today. A football scholarship to the University of Arkansas followed his high school graduation from North Little Rock High School.
A member of the Kappa Sigma fraternity, he also served as co-captain of the university’s football team and was named to the All-Southwest Conference offensive linemen team during his tenure at the university. Jones’ Arkansas teammate was Jimmy Johnson, who Jones would subsequently select as his first head coach after purchasing the Cowboys. Jones and Johnson were teammates at Arkansas.
Upon graduating from college in 1965, Jones obtained a million dollars in financing from the Teamsters union (which was led by Jimmy Hoffa at the time) in order to open a number of Shakey’s Pizza restaurants in the state of Missouri.
As a result of the failure of his experiment, Jones went to work for his father’s insurance agency, Modern Security Life of Springfield. He held the position of executive vice president at the company. In the late 1960s, he attempted to launch a number of businesses. Jones attempted to purchase the San Diego Chargers of the National Football League at one time, utilizing Teamster’s funds once more.
He eventually returned to Arkansas to complete his Master’s degree in Business Administration, which he received in 1970. Jones Oil and Land Lease, a privately held corporation that engages in natural resource prospecting, was founded by Jones in 2001. The following two decades were spent building a financial fortune and arranging his comeback to the football field.
Legends Hospitality was established in 2008 as a joint venture between Jones and Yankee Global Enterprises. A corporation called Legends provides services to entertainment venues such as Cowboys Stadium in the areas of food, beverage, merchandise, retail, and stadium operations.
Cowboys Are in Charge of Their Own Business
The Dallas Cowboys were purchased by Jerry Jones on February 29, 1989, for a sum of $140 million. After adjusting for inflation, that equates to almost $300 million in today’s dollars. Soon after making the acquisition, he sacked Tom Landry, the lone coach in the team’s history, and replaced him with Jimmy Johnson, a former Arkansas player.
In addition, he fired general manager Tex Schramm and assumed sole control of all football-related decisions himself. After going 1-15 in their first season under Jones’ ownership, the Cowboys have since improved. Jones and Johnson were able to turn the club around in a short period of time, and the team finished 7-9 the next season.
In 1991, the Cowboys finished 11-5 and qualified for the playoffs, however, they were eliminated in the second round. Super Bowl XXVII was won by the Dallas Cowboys over the Buffalo Bills during the 1992-93 season. The next year, they defeated the Bills for the second time to win Super Bowl XXVIII in New Orleans.
Jones and Johnson’s relationship began to deteriorate in 1993 as a result of a power struggle between them. Finally, when the Cowboys won their second Super Bowl under Johnson in March 1994, Jones offended Johnson by telling reporters that any coach could have led the Cowboys to the championship game.
They reached an agreement on March 28, 1994, following the Cowboys’ second consecutive Super Bowl victory, with Johnson receiving a $2 million signing bonus as compensation.
A second alumnus of the University of Arkansas, Barry Switzer, took over as quarterback for Jones and the Cowboys during the 1995 season, winning Super Bowl XXX for the team. Among the notable players on the squad were Johnson holdovers Troy Aikman, Emmitt Smith, Michael Irvin, and Super Bowl XXXX MVP Larry Brown, as well as newcomer Michael Irvin.
Johnson continued to earn major credit for the team’s third Super Bowl victory, despite the fact that 70 percent of the starting lineup came from Johnson’s years with the team. Since Super Bowl XXX, the Cowboys have failed to win a championship.
The value of the Dallas Cowboys has increased from $140 million to about $5.5 billion during Jones’ ownership, making him a multi-billionaire. Since 1989, Jones has been widely credited for the NFL’s overall success. While other networks (ABC, CBS, and NBC) were trying to convince the NFL to take less money for television rights at the time, Fox was championed by him.
The NFL became the richest sports league in the world after moving to Fox, which resulted in an increase in television revenue of more than $10 billion per season.
Only one other owner in the league, Cincinnati’s Mike Brown, has the title or powers of general manager, and Jones is the other one.
David Magee’s 2008 book Playing to Win has Jones as its central character. As a result of the firing of Landry, Jones accepted some responsibility for the breakdown of his relationship with Jimmy Johnson, according to the book he wrote about it. 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 had not been inducted into the Ring of Honor despite his two Super Bowl wins. Jones opined: “Disobedience… The betrayal was too much for me to bear.”
In 2017, Jones was enshrined in Canton, Ohio’s Sports Hall of Fame.
In college, he met his future wife Gene, a former beauty queen who had competed in a number of pageants. In addition to Stephen and Jerry Sr., they have a daughter named Charlotte.
Additionally, they have nine great-grandkids. In addition to serving as the Dallas Cowboys’ COO, executive vice president, and director of player personnel, their son Stephen earned a degree from the University of Arkansas.
It’s no surprise that Charlotte has a job with the Cowboys as vice president and director of charitable and special events now that she has earned her Stanford degree. There are two schools of higher education that their son 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.
Purchasing and Selling of Real Estate
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, is headed by Jones. One hundred acres of land were purchased by the corporation in 2018 for $38 million, which would be transformed into Star Business Park.
An additional 60 acres were acquired nearby in 2019. One component of the land has been designated by Blue Star as a distribution and sales hub for the Dallas Cowboys.