We all know that NBA stars earn a mind-blowing amount of money per season, which allows them to invest in other businesses and become entrepreneurs. All professional NBA players have their own financial advisors who help them allocate their wealth evenly, whether if it is for beating inflation, investing in stocks, or starting their own business.
On top of that, NBA athletes don’t have a long-running career, which means that they have to worry about making enough money for retirement in their mid-20s.
NBA athletes have a major advantage when it comes to starting a business, thanks to their huge fan-base that is constantly growing with every other NBA match.
With that said, there are some examples where NBA stars managed to build a business empire that has become their main source of income. Let’s find out more.
Michael Jordan was not only the most successful player in NBA’s history, but he is also the most successful athlete when it comes to side businesses. Michael Jordan was one of the first professional athletes who managed to get to the very exclusive billionaire’s club, and the main source of his wealth wasn’t from the NBA.
His main investment was being the chairman and majority stakeholder of the Charlotte Hornets NBA team, which makes an estimated income of around $80 million per year.
On top of that, he started many exclusive partnerships, such as the Jordan brand with Nike that has an estimated value of more than $10 billion.
But that’s not all. He also owns a car dealership, Motorsport team, and six restaurants. It must be a headache to be his accountant.
You already knew that the second place is reserved for King James and his many successful businesses and partnership deals.
According to Sportico, LeBron James is another NBA athlete that managed to surpass the $1 billion in career earnings reaching around $330 million in NBA salary and more than $700 million from other businesses, merchandise, endorsements, and his media company.
Throughout his many endorsements with companies like Nike, McDonald’s Coca Cola, Dunkin’ Donuts, and more, he managed to get more than $50 million per year.
He also teamed up with Michael Jordan to release his own Nike shoe, which has been a top seller bringing more than $90 million in sales.
James also started a different path as we’ve seen him as the main actor in Space Jam 2, where he would not only earn money for acting but also through his production company.
Dave Bing is a retired professional NBA player, born in 1943 and started his career playing for the Detroit Pistons. After he decided to retire from basketball, he started his own company called the Bing Group, which slowly grew to become one of the largest steel-producing companies in Michigan.
The company became very successful, earning him a lot of money as it produces products for the automotive, appliance, and office furniture industries.
Throughout his fluctuant career, Chris Webber earned an estimated amount of $176 million only from salaries, and he still managed to keep the ball rolling even after retirement. He started his own company that works in few industries.
His company has a real estate sector for building houses and apartments, a sector for representing basketball and football players, and also filming projects.
He also started his restaurant called the Center Court, as well as his own book. This means that he is not only a successful All-Star NBA player but also a successful entrepreneur.
At 61 years of age, Magic Johnson is still got that fighting spirit shown in his best career days in the NBA. After 13 seasons, he started his company Magic Johnson Enterprises, which is involved in many franchises such as Burger King, Starbucks, 24 Hour Fitness, TGI Fridays, and many more.
All his franchises serve over 30 million customers per year, making him a ton of money. His net worth is estimated to be north of $600 million, and he doesn’t look like he would stop anytime soon.
There you have it, the most popular NBA entrepreneurs. If you like basketball, here are a few more trade rumors from around the NBA to keep you entertained.
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