How Did Jerry Jones Make His Money: Because Jerry Jones grew up in a financially secure household, he was able to borrow huge amounts of money from high-ranking acquaintances until he discovered a lucrative business opportunity. A large portion of Jones’ wealth was derived from the revenues of the football club, the Dallas Cowboys, which he purchased in 1989.
Jerral Wayne Jones was born on October 13, 1942, in the city of Los Angeles, California. At approximately 3 years old, his family relocated back to North Little Rock from their previous residence. Pat’s Super Market, which his parents owned and operated in the area, had two locations in the city.
Jones attended North Little Rock High School, where he was a running back in football. In the summer after he graduated from high school, his parents relocated to Springfield, Missouri, where his father established the Modern Security Life Insurance Co.
Jones’ firings were not well received by Cowboys supporters, who saw pride and respect as essential components of the team’s longstanding history. Sports Illustrated voted him the least favorite sports celebrity in 2003, and he received the award.
Despite Jones’ shaky popularity, the Cowboys had considerable success under his direction and were generally regarded as the greatest NFL club of the decade that followed. The Cowboys won the Super Bowl three times in a row from 1992 to 1995.
When the Cowboys were sold, the previous owner claimed that the team was losing $1 million per month at the time of sale. Over the duration of Jones’ tenure, the team’s market value has risen to an estimated $4.2 billion, with a large portion of this growth owing to Jones’ visionary leadership.
Jones, in particular, is credited for boosting the sport’s broadcast viewership and income. He was able to acquire Fox as the main broadcaster for the NFC at a time when the conventional “Big Three” television networks were requesting lower rights payments.
Because of the increasing income from television networks, the NFL has risen to become the wealthiest sports league in the world, generating more than $10 billion in revenue each season.
The business saw tremendous growth in the early 1960s, with assets rising from $440,299.76 in its first financial statement in 1961 to $6,230,607 in its last financial statement in 1965.
Jones went on to play football at the University of Arkansas, where he completed his career. On the 1964 National Championship football teams, he was named co-captain and was named to the all-Southwest Conference offensive linemen’s team.
In the years after graduation from college, Jones borrowed a million dollars from the finances of Jimmy Hoffa’s Teamsters union in order to establish a number of Shakey’s Pizza Parlor locations across Missouri.
However, the enterprise failed, and as a result, his father offered him a position at an insurance company while he pursued a master’s degree in business administration.
Jones borrowed money from the Teamsters union once again in 1967, when he tried to purchase the San Diego Chargers of the American Football League. However, the transaction did not go through.
Jones Oil and Land Lease, a company he founded in Arkansas to conduct oil and gas exploration, proved profitable within a short period of time.
The Cowboys are a professional football team based in Dallas, Texas.
Jones purchased the Dallas Cowboys of the National Football League in 1989 for a total of $140 million. He dismissed veteran coach Tom Landry almost immediately, and a few months later he removed general manager Tex Schramm as well. Jimmy Johnson, a friend and former Arkansas Razorbacks player, was appointed as the team’s head coach.