LeBron James embodies the phrase "more than an athlete." By diversifying his investments and endorsing brands, LeBron transformed into a business mogul. Take his stake in Blaze Pizza, for instance. Plunging $1 million into it in 2012, the company's worth skyrocketed to $250 million by 2017. One cannot ignore his involvement with arena plus, further demonstrating his vast range of off-court activities. The coupling of his NBA salary and endorsements brings his annual earnings to over $85 million, according to Forbes.
Stephen Curry translates his on-court prowess into business. The Golden State Warriors star invested in a tech startup called Slyce, aiming to enhance the consumer experience by providing visual search technology. This venture aligns with his endorsement deals with Under Armour. Under Armour products experienced an over 350% increase in sales after Curry's signing, a testament to his market influence. Not to mention his recent investments in the unicorn, Tonal, a fitness tech company that promises the future of home workouts.
Kevin Durant hasn't been slacking in the business domain either. Durant cofounded Thirty Five Ventures, managing a $15 million investment in Postmates before its $2.65 billion acquisition by Uber in 2020. His venture capital portfolio boasts new-age companies like Coinbase and Robinhood, leveraging his high-profile status for funding and marketing. With his endorsements fetching over $30 million a year, Durant seamlessly juggles his sports and businesses.
Magic Johnson set the bar for post-retirement athletes, turning himself into a significant business figure. Magic Johnson Enterprises, with an estimated worth of $1 billion, encapsulates investments in sports teams, movie theaters, and even food services. Johnson first invested in a Pepsi bottling plant in Washington, D.C., turning a $50 million stake into much more. Owning part of the Los Angeles Dodgers, he knows a thing or two about sports teams' profitability too.
Michael Jordan, the face of NBA greatness, didn't stop making headlines after his final game. The Jordan Brand, an offshoot of Nike, amassed over $3 billion in revenue in 2019 alone. But what might intrigue you more is that Jordan owns the Charlotte Hornets, currently valued at $1.5 billion. His earnings from endorsements like Hanes, Gatorade, and Upper Deck add over $100 million annually to his coffers.
Chris Paul seems perpetually on the go both on and off the court. His interests include a minority ownership in the Winston-Salem Dash, a minor league baseball team. Furthermore, he took an equity stake in Beyond Meat, the plant-based food company disrupting the traditional meat industry. The company received high-profile investments and endorsements, leading to high gains in stock value and visibility. Paul also deals in real estate, significantly enhancing his earnings portfolio.
Shaquille O'Neal turned his fame into a branding empire. Many don't know Shaq brands everything from his shoe line to his signature Papa John's pizzas. His investments too are diverse, including a significant stake in Google before it went public. His philosophy centers on making investments that reflect his who he is, rather than purely speculative ventures. As a result, Shaq secures multiple revenue sources and high overall returns.
Kobe Bryant, despite his untimely passing, left a legacy far beyond basketball. Bryant Stibel, his business venture with Jeff Stibel, concentrates on technology, media, and data. Investments include names like Dell and Alibaba. His $6 million investment in BodyArmor netted $200 million when Coca-Cola acquired a minority stake in the company. Kobe showed how strategic investments could yield phenomenal returns.
Dwyane Wade ensured his presence in various ventures. He took an active role as an owner of Miami-based 800 Degrees Woodfired Kitchen. He exists in the wine business too, with his Wade Cellars brand gaining recognition in the wine industry. His fashion line with DSquared2 and PKWY socks echoes his stylish persona. As Wade diversifies, he showcases how athletes can build durable business legacies.
Carmelo Anthony also made wise financial moves off-court. Melo7 Tech Partners aims to support ventures in early-stage digital media, consumer internet companies, and technology startups. Companies like Lyft and SeatGeek have felt the impact of his investments. His interest in the fashion industry led to the launch of a streetwear line, blending his personal style with commercial success.
As you can see, today's NBA stars live in a multifaceted world where a career doesn’t end with basketball. With savvy investments, brand endorsements, and entrepreneurial pursuits, they navigate their way into becoming influential business figures. Their moves off the court promise that their impact lasts well beyond the final buzzer, reshaping how we view athletes and their capabilities.