Donald Sterling’s $2.5 Million Fine Isn’t As Much As You Think It Is


Donald Sterling’s penalty is in: a lifetime ban from the NBA and a $2.5 million fine, the maximum league sanction, for the racist audio recording released last week. The NBA will also work to force him to sell the Los Angeles Clippers, the team he’s owned since 1981.

It’s a harsh punishment, no doubt. But let’s not kid ourselves about the $2.5 million. Sterling, after all, is reportedly worth $1.9 billion. According to a 2013 Credit Suisse report on global wealth, the median American is worth $44,911. In other words, a $2.5 million fine for Sterling is like a $59 fine for that middle-of-the-road American.

Also, a reminder: Donald Sterling bought the Clippers for $12.5 million. The team’s value is now at least $575 million; some think it’s worth more than $1 billion. We have a feeling he’ll come out of this just fine.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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