Jerry Jones made his fortune in the oil industry, but is mainly recognized for being the owner of the American football team. Dallas Cowboys.
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Jones made his first million with oil investments in the 1970s.
He still invests in drilling opportunities and is a major shareholder in Comstock Resources (NYSE:CRK), a fuel group.
Jerry Jones is also passionate about the sport, being one of the few National Football League (NFL) team owners to have had a significant level of success as a player.
jones was co-captain of the University of Arkansas national championship team in 1964.
In 1989 he bought the Dallas Cowboys for $150 million and quickly restored the team’s winning tradition.
Jones became the first owner in NFL history to lead his team to three Super Bowl titles in his first seven years of ownership.
Learn more about the career of oil and sports tycoon Jerry Jones.
Who is Jerry Jones
Jerry Jones is an American businessman, owner, president and general manager of the Dallas Cowboys of the National Football League (NFL).
His net worth is estimated at $13.6 billion by Forbes, which places him at 185a ranking of the world’s billionaires in 2022.
life and career
Jerral Wayne Jones was born on October 13, 1942, in Los Angeles, California, United States.
Son of John “Pat” and Armenita Jones, he was raised in North Little Rock, Arkansas, where his parents owned two branches of Pat’s Super Market.
“Jerry” Jones, as he became known, attended the University of Arkansas where he met his wife, Eugenia “Gene” Chambers.
Throughout the 1960s, Jones played football and was one of the standouts on the University of Arkansas team.
In 1964 he was the co-captain of the team in the National Championship that the educational institution was crowned champion.
Jones graduated with a degree in business administration in 1965 and earned his MBA there the same year, according to his official biography.
Shortly after graduating, Jones decided he wanted to buy a professional team.
He reached an agreement to buy the San Diego Chargers from the then incipient American Football League, but the deal failed due to the poor financial health of the team.
Then he opened a Shakey’s Pizza Parlor franchise in Missouri, but that venture also failed.
Jones then went to work for his father’s insurance company, Modern Security Life of Springfield, also in Missouri before starting to explore for oil and gas in Arkansas.
He was unusually lucky to find oil in 12 of his first 13 wells. Jones Oil and Land Lease became a success and the deal consolidated Jones’ fortune.
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In 1989, Jones fulfilled his wish to buy a sports team by acquiring the Dallas Cowboys from HR “Bum” Bright for $140 million.
Soon after the purchase, the reformulation of the team began.
He fired longtime head coach Tom Landry, until then the only head coach in the team’s history, and appointed Jimmy Johnson as head coach.
A few months later, he fired longtime general manager Tex Schramm and took full control of football affairs.
After a slow start, the team was often considered one of the best in the NFL of the 1990s.
Where Jerry Jones Invests
Currently, most of Jerry Jones’ fortune is derived from his ownership of the Dallas Cowboysthe National Football League franchise he purchased in 1989.
Jones owns the entire team and is believed to have no debts to the organization.
Jones also has investments in Comstock Resources, a publicly traded Texas oil and gas company.
He owns 78% of the company and has become the controlling shareholder, according to the company’s 2022 proxy statement, Bloomberg reported.
Jones still owns assets such as real estate, land owned by a number of entities called Blue Star, a stake in Legends Hospitality Management, and several Papa John’s franchises.
He is also an avid art collector. His collection includes Norman Rockwell’s “Coin Toss” as well as paintings by Picasso, Renoir and Matisse, among others, Forbes reported.
