If you’ve seen the ESPN 30 for 30 movie titled “Broke” you saw what happens when some athletes get money, they can’t handle it. A lot of them go broke. Every athlete doesn’t squander their millions, though. Some do very well with their money. In today’s post, I want to go over several athlete entrepreneurs that have been smart and made more money.
Michael Jordan is arguably the greatest basketball player of all time. He played shooting guard for the Chicago Bulls (Those Washington Wizards seasons didn’t happen). MJ is currently the owner of the Charlotte Hornets. According to Forbes, his net worth is over $1.1 billion. Some of his endorsements include Nike, Gatorade, McDonald’s, Wheaties, and Hanes.
Venus Williams is a professional tennis player. She has been ranked number one in singles three times. She has a net worth of $75 million. Venus has an interior design firm called V Starr Interiors. She also has a clothing line called EleVen. Some of her endorsements are Ralph Lauren, Tide, and Kraft. She is also a part-owner of the Miami Dolphins.
LeBron James is arguably the best player in the NBA. His net worth is $300 million. He has endorsements with Nike, Upper Deck, and Dunkin Donuts. He also has a digital video company called Uninterrupted. In 2018 Lebron James and his business partner Dany Garcia joined up with Cindy Crawford, Lindsey V., and Arnold Schwarzenegger to found Ladder, a company that looks after health and wellness.
Next on the list of athlete entrepreneurs, is George Foreman. He is a former two-time world heavyweight champion boxer. He became a spokesperson for the George Foreman Grills in 1994. He is also an ordained minister and has authored 10 books. His net worth is estimated at approximately $250 million.
Cal Ripken Jr.
Cal Ripken Jr. was a shortstop and a 3rd baseman for the Baltimore Orioles. He is known as baseball’s ironman having played 2632 consecutive games. He currently owns multiple minor league baseball teams. He also has a stadium design business and a licensing memorabilia company. His net worth is $75 million.
Magic Johnson is a former point guard for the Los Angeles Lakers. He is currently a co-owner of the Los Angeles Dodgers. He founded his company Magic Johnson Enterprises in 1987. Over the years, he’s owned movie theaters and restaurants around the US. His net worth is $500 million. Magic Johnson is one of my favorite athlete entrepreneurs.
Peyton Manning is a two-time Super Bowl champ. He last played QB for the Denver Broncos. He has endorsements with Master Card, Direct TV, Gatorade, and Kraft. He also owned 21 Papa John’s restaurants. He has over $12 million endorsements deals from companies like Nationwide Insurance, Buick, and more which makes Peyton Manning according to Forbes the richest NFL player ever. His net worth is sitting around $250 million.
Roger Staubach is a former QB of the Dallas Cowboys. He started a commercial real estate business called The Staubach Company in the late 1970s. Staubach sold his company to Jones Lang LaSalle for $613 million. He also had endorsements with Rolaids and with clothing retailer Anderson Little.
Serena Williams is the greatest women’s tennis player of all time. She is currently ranked number 1 in the world. She has a total of 21 grand slam singles titles. She has endorsement deals with companies such as Gatorade, Delta Airlines, Aston Martin, and Pepsi. She is also a minority owner of the Miami Dolphins. Her net worth is $140 million.
Shaquille O’Neal is a former NBA center who played most notably for the Los Angeles Lakers and the Orlando Magic. Shaq has had endorsements with several companies over the years such as Icy Hot, Reebok, Comcast, Radio Shack, and Taco Bell. He has also invested in several companies such as PepsiCo and Apple. Shaq’s net worth is $250 million.
Arnold Palmer is a retired golfer. He is regarded as one of the greatest of all time in the sport. He has endorsed companies such as Rolex and Ketel One. His company, The Arnold Palmer Design Company, has created hundreds of golf courses over the years. His net worth is $675 million.
Jamal Mashburn is a former NBA small forward who played for multiple NBA teams including the Dallas Mavericks. He owns several restaurants such as Papa Johns, Outback Steakhouse, and Dunkin Donuts. He also owns multiple car dealerships. His net worth is $45 million.
Marshawn Lynch is a former running back for the Buffalo Bills and the Seattle Seahawks. He has endorsements with Skittles, Nike, PepsiCo, Activision, and Progressive. It is reported that he hasn’t spent any of his NFL earnings. His net worth is $30 million. Lynch also owns an apparel company called Beast Mode Apparel LLC.
Derek Jeter is a former American professional baseball shortstop and baseball executive. He established himself as an entrepreneur after being one of the most appreciated and marketable athletes in the world for over two decades. He co-founded The Player Tribune, and he is the current CEO and Co-owner of the Miami Marlins. His total net worth is $185 million after his endorsement deals with the likes of Nike, Gatorade, Rawlings, and others.
Dwayne Johnson is an American-Canada retired professional retired wrestler with the ring name ‘’The Rock”, actor, producer, and businessman. He co-founded Seven Bucks Production and Digital Personal Finance Service Acorns, a micro-investing platform that will help parents invest in their kid’s future with his business partner Dany Garcia. He and his business partner teamed up with Redbird Capital to buy XFL football club in August 2020. His net worth is around $320 million.
Ronda Rousey is an American professional female wrestler, a model, former mixed martial artist, an actress, an advertising supernova, and an entrepreneur. She is in partnership with the company Mizuno and has endorsement deals with Carl’s Jr., Fanatics, Iconix, Metro by T-Mobile, Monster Energy Drink, Procter & Gamble, Reebok, and Xyience. She is the author of my fight or your fight. She is currently building a farm called Browse Acres with her husband. She is promoting the idea of self-reliance. Her net worth is $12 million.
Michael Phelps is a former American swimmer, former Olympic gold medalist, who holds records of Olympic gold medals and the most successful swimmer of all time. He is also an entrepreneur and a mental health advocate. He is the CEO of PHELPS Foundation, and one of the board members of the company Medibio. He earns most of his income from brand sponsorship and endorsement with companies such as Aqua Sphere, Omega, Under Armour, and Beats by Dre. And earn indirectly from books, films, appearance, and social media engagement deals. His net worth is sitting around $80 million.
Alex Rodriguez is a former American professional baseball shortstop, a philanthropist, and an entrepreneur. He is the chairman and CEO of Arod cops, a company that includes ventures, partnerships, and real estate. He is also the chairman and co-founder of BRX Holdings, and he is currently an MLB analyst working for both ESPN and FOX. His net worth is sitting around $350 million net worth which makes him the wealthiest baseball player ever by that a wide margin.
It’s refreshing to read about athlete entrepreneurs The one thing that they all have in common is that they have multiple streams. Whether it’s endorsements or side businesses, they have money coming to them in more than one way. That’s something that we all should strive for.