Following his retirement as a player, Kerr became a minority owner of the Phoenix Suns as part of a group led by Robert Sarver that purchased the team in 2004.

Under his leadership, the franchise entered the most successful period in its history, reaching the NBA Finals six times and winning four championships (in 2015, 2017, 2018, and 2022).

[2] His grandfather, Stanley Kerr, volunteered with the Near East Relief after the Armenian genocide and rescued women and orphans in Aleppo and Marash before eventually settling in Beirut.

Malcolm Kerr was killed by members of the Islamic Jihad on January 18, 1984 at the age of 52 while he was serving as president of the American University of Beirut.

[10] During pre-game warmups at arch-rival Arizona State University in 1988, Kerr was taunted by Sun Devils fans with chants that included "PLO" and "Where’s your father?

[14] Along with fellow All-American teammate Sean Elliott, Kerr helped the Wildcats reach the Final Four of the 1988 NCAA tournament.

However, with Jordan back full-time for the 1995–96 season, the Bulls set a then-NBA record of 72–10 and defeated the Seattle SuperSonics in the 1996 NBA Finals in six games.

At the end of Game 6, with the score tied at 86, Kerr took a pass from Jordan and made a 17-foot jump shot to win the championship for the Bulls.

[32] In the last minute of Game Two of the 1998 NBA Finals against Utah, Kerr missed a three-pointer, grabbed his own rebound, and made a pass to Jordan.

Jordan made a crucial three-point play, putting the Bulls in the lead for good and helping the team tie the series at one game apiece.

[22] In January 1999, Kerr was acquired by the San Antonio Spurs in a sign-and-trade deal with the Bulls, whereby Chuck Person and a first-round pick in the 2000 NBA draft was sent to Chicago.

[39] On July 24, 2001, Kerr was traded to the Portland Trail Blazers alongside Derek Anderson in a deal that brought Steve Smith to the Spurs.

During his tenure, Kerr performed a segment sponsored by Coors Light called Steve's Refreshing Thoughts in which he brought up interesting facts in NBA history.

Kerr remained a commentator in NBA 2K15 despite becoming the Golden State Warriors coach for the 2014–15 season several months prior to the game's release.

In 2011, he also called the NCAA Men's Division I Basketball Championship on Turner Sports and CBS, teaming up with lead broadcasters Jim Nantz and Clark Kellogg for the First Four and Final Four games, and with Albert in other rounds.

In 2023, Kerr portrayed a cartoon version of himself on the animated series Clone High, where he was the judge of a fictitious reality show called Tropical Hospital.

On April 15, 2004, Kerr was announced as a member of a potential group of buyers that would acquire his old team, the Phoenix Suns, from Jerry Colangelo for $300 million.

[49] In 2008, the Suns traded forward Shawn Marion and guard Marcus Banks to the Miami Heat in exchange for Shaquille O'Neal.

[51] On June 25, 2009, he traded O'Neal to the Cleveland Cavaliers for Ben Wallace, Sasha Pavlovic, a future second-round draft pick and cash.

[citation needed] On May 14, 2014, Kerr reached an agreement to become the head coach for the Golden State Warriors, succeeding Mark Jackson in a five-year, $25 million deal.

[59][60] After the Warriors beat the Houston Rockets to win their 14th consecutive game, Kerr became the first coach to start his career with a 19–2 record.

Down 2–1 in the series, Kerr made an unconventional adjustment in Game 4 to leave the Grizzlies' Tony Allen open and have his defender, center Andrew Bogut, guard the interior.

Kerr's strategy was lauded after Allen, Memphis' best wing defender but a poor jump-shooter, was benched and limited to 16 minutes after missing wide open shots.

[68] After the Warriors went down 2–1 to Cleveland, Kerr started swingman Andre Iguodala in place of Bogut, jump-starting their stagnant offense for a 103–82 road victory that evened the series.

After the first two days of the defending champion Warriors' training camp, Kerr took an indefinite leave of absence to rehabilitate his back, which had caused problems since the 2015 NBA Finals.

[77][78][79] On November 20, 2016, the NBA announced that Kerr had been fined $25,000 for public criticism of officiating during a radio interview with KNBR 680 three days prior.

[83] During the 2019–20 season, with Thompson out for the year and franchise point guard Stephen Curry only playing five games due to a hand injury, the Warriors finished with the worst record (15–50) in the league.

In the 2022–23 season, Kerr and the Warriors reached the Western Conference Semifinals, where they were defeated in six games by the Los Angeles Lakers.

At the 2024 Summer Olympic Men's Basketball Tournament, Kerr coached the US Team to its fifth consecutive gold medal at Paris' Bercy Arena in a win over host country France.

In it, along with Philadelphia 76ers coach Doc Rivers, Kerr endorsed Joe Biden for president in the November presidential election.