10 Athletes Who Crush Business
As we recently discussed, many athletes find good ways to blow their millions through business. After all, it’s easy burning through money when your seven-figure salary is no longer coming in.
On the other hand, some athletes have found the right mix of advisers and/or business skills to turn their wealth into an empire.
From interior design to owning professional sports franchises, some retired athletes have done an amazing job of translating their sports skills into the business world.
That said, let’s look at 10 athletes who’ve become very wealthy outside of their sports careers.
1. Michael Jordan – Charlotte Bobcats, Nike
Widely regarded as the best basketball player in history, Jordan is also the greatest athlete-turned-businessman. In fact, he’s the first athlete to become a billionaire.
According to Celebrity Net Worth, His Airness is the majority owner of the Charlotte Bobcats with a $500 million stake, while he also draws a $100 million annual royalty check from Nike. This only figures to increase as Nike’s revenue does.
2. Magic Johnson
One of Jordan’s toughest competitors during his career with the Los Angeles Lakers, Earvin “Magic” Johnson has proven a near equal to Jordan in the business world.
Magic Johnson Enterprises is worth over $700 million thanks to investments in 24 Hour Fitness, Burger King, Starbucks, and T.G.I. Friday’s.
3. Oscar De La Hoya
With 10 championship belts throughout five different weight classes, “Golden Boy” Oscar De La Hoya is one of the best boxers in history. He also proved to be a huge box office draw, generating $612 million in 18 pay-per-view fights.
De La Hoya turned his nickname into a very successful business, Golden Boy Promotions, which has 40 signed fighters and brings in more than $100 million every year. With over a 50% stake in the company, De La Hoya is a very rich man.
4. LeBron James – LRMR Marketing
Jordan and Magic better watch out because LeBron James is one of the fastest risers in the athlete-businessman category. At age 31, James is already worth over $300 million.
For starters, James signed a Nike contract worth $1 billion over his lifetime. He’s not resting on this deal, though, launching a marketing agency called LRMR with his business manager and childhood friend Maverick Carter. A lesser-known fact about LeBron is that he also owns part of the Liverpool football (soccer) club.
5. Venus Williams – V Starr Interiors
Like her sister, Serena, Venus Williams has excelled on the tennis courts, winning 14 Grand Slam titles in her career. The 36-year-old is also well-suited for when she retires from the courts too.
Williams owns V Starr Interiors in Jupiter, Florida, which remodels homes for commercial and residential clients. She also has a $40 million Reebok contract, and the Williams sisters own a piece in the Miami Dolphins.
6. Tony Hawk – Birdhouse Skateboards
Tony Hawk’s name has become synonymous with skateboarding, not only because of his 1990s dominance of the sport, but also because of the Tony Hawk’s Pro Skater video games.
His investments have matured since he now owns a major company called Birdhouse, which sells skateboards and clothing. Hawk also earns millions through endorsements from Adio Sirius, Kohl’s, and Six Flags.
7. John Elway – Car Dealership, Restaurants
2-time Super Bowl champion John Elway has stayed close to football and his former team, serving as the Denver Broncos’ VP of Football Operations. He also co-owns the Colorado Crush of the Indoor Football League.
Elway used to own several car dealerships, but he sold them in 2008 for over $82 million. Currently, he owns two steakhouses in addition to his job with the Broncos.
8. Kobe Bryant – Nike, Endorsements
Bryant retired as the NBA’s third all-time leading scorer with 33,643 points and, more importantly, five NBA championships. Bryant is proving to be just as big of a winner with investments since he makes a fortune through his Nike line.
Kobe especially does well in China, where he frequently markets the Kobe XI line. He also maintains other lucrative endorsements with Coca-Cola, Mercedes-Benz, Sprite, and Turkish Air. And to hear Kobe speak in this Wall Street Journal interview, you can tell that he’s putting everything into building on his $320 million net worth.
9. David Beckham – Cologne, Endorsements
A former star with Manchester United and Real Madrid, David Beckham has involved himself in a number of investments that have increased his net worth to $350 million.
He began accumulating lucrative modeling deals with Pepsi, Armani underwear, Gillette, and Police sunglasses early on. He also has a successful cologne line called David Beckham and currently endorses Adidas, Gameboy, Pepsi, and Samsung.
10. Eddie George – EDGE Group
Eddie George was one of the strongest running backs in NFL history and topped 1,000 yards in seven out of his nine pro seasons.
He’s proven just as strong in the business world, starting a company called EDGE. This business works on architecture, development, landscape, and planning projects. Starting in Columbus, where George starred at Ohio State, EDGE has since expanded to Nashville and Toledo.
