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 of them that have been smart with their 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, McDonalds, 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.
George Foreman is a former two-time world heavyweight champion boxer. He became a spokesperson for the George Foreman Grill’s in 1994. 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.
Peyton Manning is a two-time Super Bowl champ. He currently plays QB for the Denver Broncos. He has endorsements with Master Card, Direct TV, Gatorade and Kraft. He also owns 21 Papa John’s restaurants. His net worth is $160 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 1970’s. 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 single 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.
It’s refreshing to see athletes who continue to do well with their money. The one thing that they all have in common is that they have multiple streams. Whether its endorsements or side businesses, they have money coming to them in more than one way. That’s something that we all should strive for.
Did any of the athletes on this list surprise you? Do you know any other athletes who are good with money?