Superstar athletes build wealth and influence after retirement

Driven individuals often strive to reach the pinnacle of their profession. For athletes, competing at the highest levels of their respective sports epitomizes this achievement. After retirement, many professional athletes enter a period of transition characterized by uncertainty. While they may no longer compete in front of a television audience, several former superstar athletes have built impressive careers in the business world.

Who are some of the most high-profile former professional athletes who have achieved business success, and what have they been doing since retirement?

Often, Michael Jordan is one of the first former athletes remembered as someone who has been successful in business. Widely considered one of the greatest NBA basketball players of all time, he built most of his fortune off the court. During his playing career, he endorsed companies such as Gatorade, McDonald’s, Chevrolet, Coca-Cola, Hanes, Wheaties, Upper Deck, Rayovac, Ball Park Franks, to name a few. In 1984, Jordan signed a royalty-based deal with Nike, a relatively unknown shoe company at the time. The deal was revolutionary because Jordan was not only signed to support Nike’s ‘Air Jordan’ shoe model, but also to receive 5 percent royalty with every sale.

After finally retiring from basketball in 2003, Jordan built a business empire through a series of strategic decisions that led to financial success. Although Nike sales have declined recently, the Air Jordan brand remains profitable and has nearly tripled its revenue over the past decade. according to Sportico. Jordan purchased a majority stake in the Charlotte Bobcats (now Hornets) NBA franchise in 2010 for $175 million and sold in 2023 for $3 billion. He has also invested in 23XI Racing, DraftKings, esports organization Team Liquid, and other ventures. Currently he is the richest sports figure of all time and has started a new challenge as a special contributor for the NBA on NBC this fall. Details about his contract have not yet been confirmed, but he will be well compensated for his work. Are main purpose of return in front of the camera is to convey his knowledge and expertise.

While Magic Johnson is one of the greatest point guards in NBA history, he is often known more in this generation for his business ventures than his NBA career. He has minority stakes in four professional sports franchises: the Los Angeles Dodgers (MLB), Washington Commanders (NFL), Los Angeles Sparks (WNBA) and Los Angeles FC (MLS). According to Entrepreneur.comHis most profitable asset is EquiTrust, a life insurance company in which he has a majority stake of more than 60 percent. Johnson has owned and sold shares in companies such as Starbucks and Magic Johnson Theaters. Over the years, he built a real estate empire and helped develop parts of the city of Los Angeles.

Tom Brady has been busy since retiring after the 2023 football season. Considered one of the greatest quarterbacks in NFL history, Brady moved to broadcasting and agreed to a 10-year contract of 350 million in 2022 to become Fox’s chief color analyst, a role he prepared for and started before the 2024 season. Brady started out as an entrepreneur TB12 During his playing career, a health and wellness company decided to fix his brand and athletic mentality, which has since happened merged with Brady Brand and No Bull to form a versatile sports entity by 2024. Since his retirement, Brady has acquired minority stakes in the NFL’s Las Vegas Raiders, the WNBA’s Las Vegas Aces and Birmingham FC, a soccer team in the English Football League. That’s him co-owner of a pickleball leaguealong with Hall of Fame women’s tennis player Kim Clijsters, and continues to collaborate with brands such as Subway and Under Armour.

Since retiring from baseball in 2016, former MLB MVP infielder Alex Rodriguez has built a real estate empire, invested in several companies and became a minority owner of the NBA’s Minnesota Timberwolves. His business acumen was on display on the show Shark tankas he was a guest judge for a few seasons. Like Michael Jordan and Tom Brady, Rodriguez also made the transition to broadcasting and won an Emmy Award in 2017 as an MLB analyst for Fox. As a player, he signed a record contract with the Texas Rangers in 2000 10-year deal worth $252 million– which still ranked among the top 10 contracts of all time this decade. Although his playing career was marked by controversy, Rodriguez’s success off the field is undeniable.

In tennis, Serena Williams is synonymous with winning championships and is considered by many to be the greatest female player of all time. After retiring in 2022, she has continued her success off the field, building a total net worth of $350 million, according to Forbes. In addition to her winnings on the tennis court, Williams has been an active entrepreneur, putting together an impressive business portfolio that includes investments in venture capital, media and entertainment, fashion and beauty, and sports. She owns a minority stake in the NFL’s Miami Dolphins and invested in a women’s 3-on-3 basketball league. Her sister Venus is also a minority owner of the Dolphins and has worked with numerous brands, including American Express, Blue Cross Blue Shield Association and Ralph Lauren.

Countless other retired athletes have followed suit, turning exceptional playing careers into serious business success. Baseball player Cal Ripken owns part of the MLB’s Baltimore Orioles and has run a successful baseball academy, while boxing legend George Forman became the spokesman for his famous grill, a product that made him a fortune. In one 2023 interview on In Depth with Graham BensingerForeman announced that he was making approximately $5 million a month at one time from the grill and was actively involved in its promotion.

NHL hockey legend Mario Lemieux was a majority owner of the Pittsburgh Penguins before selling the team in 2021. He turned his $30 million investment in 1999 into $350 million in sales. according to Fox Sports Radio. Former track star Allyson Felix was co-founder Saisha lifestyle and foot brand for women. She recently retired and continues to expand her business portfolio.

In the extreme sport of skateboarding, Tony Hawk has amassed a large fortune, mainly through his video game franchise developed with Activision. During his career and after his retirement, Hawk was instrumental in the growth of the sport. As a businessman, he continued to find success by founding 900 Films, an action film company. Birdhouse signsone of the leading skateboard companies.

Some athletes haven’t waited until retirement to venture into team ownership. A recent trend involves current athletes building personal brands and acquiring ownership stakes in sports organizations while still actively participating in sports. For example, Houston Rockets NBA star Kevin Durant recently purchased a minority stake in international soccer club Paris Saint-Germain (PSG), according to NBA.com. Lionel Messi owns an equity stake in Inter Miami CF, the MLS soccer team he currently plays for, and Cristiano Renaldo also owns a share of Al-Nassr FC, the Saudi Arabian club he also represents.

These aforementioned former superstar athletes have built impressive business portfolios. However, it is important to note that although they have amassed significant wealth in retirement, they are still strongly committed to philanthropy and use their platforms to support numerous positive causes. As global business leaders, their lasting legacy will be defined less by their financial success than by their continued impact on individuals and communities around the world.