Pro athletes get a ton of bad press when they go broke spending their money on fancy cars and nice houses.
While some can’t handle their money properly, not all professional athletes are that careless. Some hoopers are incredibly intelligent with their money. Like Shaq, who invested in Google before it went public.
Here are 10 other NBA players who have successfully profited as entrepreneurs and investors.
Michael Jordan (Retired)
Considered to be the greatest NBA player ever, Jordan made a ton of money endorsing brands like Nike, McDonald’s, and Coca-Cola.
His shoe sales alone in 2014 were almost $3 billion in revenue. Jordan’s investment as the majority owner with the Charlotte Hornets is worth over $400 million. Jordan has a net worth of $1.1 billion.
David Robinson (Retired)
San Antonio Spurs legend David Robinson co-founded the Admiral Capital Group, where he invests in real estate anywhere between $15 million to $100 million.
Robinson is also an investor in Thrive15, a B2B online learning platform focused on entrepreneurship.
Magic Johnson (Retired)
NBA legend Earvin “Magic” Johnson joined Detroit Venture Partners in 2011 as an investor.
Since then, Johnson has invested millions of dollars in the firm, giving up to $3 million to each early-stage company. The NBA star’s portfolio includes Stylecaster, Sociocast, and FLUD News.
Johnson also owns Magic Johnson Enterprises, an entertainment company that includes a chain of theaters and is known for bringing big brands to urban areas.
Warriors forward and NBA Finals MVP Andre Iguodala invested in Twice, an online marketplace for buying and selling secondhand clothing, shoes, and handbags. In July 2015, eBay acquired Twice, which made Iguodala a sweet profit.
Living in Silicon Valley, Iguodala is vocal about the future of tech and expands his thoughts at TechCrunch Disrupt 2015.
NBA Star LeBron James signed with Nike to a seven-year, $90 million contract before he even entered the league. He works with big brands like Coke-Cola, McDonald’s, and Samsung, earning around $45 million a year from endorsements.
In 2007, James befriended investment guru Warren Buffett, who helped James set up LRMR Marketing using smart investment decisions. One deal included a stake in the high-end headphones Beats by Dre, making James an estimated $30 million when Apple purchased the company for $3 billion.
In December 2015, Warner Brothers invested $15.8 million into LeBron James’ new media company, UNINTERRUPTED.
As the leading scorer for the New York Knicks, Carmelo Anthony launched his own venture capital firm called M7 Tech Partners.
Anthony partnered with Stuart Goldfarb, an NBC and Bertelsmann executive, for his New York-based firm. Anthony is mostly interested in wearable technology and connected devices. You can see his favorite tech products here.
Steve Nash (Retired)
Two-time MVP Steve Nash is the founder of Consigliere Brand Capital, an NYC-based venture capital firm.
Consigliere’s investments include big companies like Nike, Under Armour, and Vitamin Water. But he also invested in tech startups like Birchbox, Warby Parker, and Contently.
Baron Davis (Retired)
Former UCLA and Golden State Warriors star Baron Davis joined Ashton Kutcher and Joe Montana in seed funding BloomThat, an on-delivery flower startup.
BloomThat’s founders raised $7.6 million in funding to tackle an $8 billion industry, and will speak at Hustle Con in May 2016.
Dwight Howard joined a group of investors that include fellow NBA player Amar’e Stoudemire to invest in Tapiture, a “visual discovery marketplace for discovering, sharing and buying the best stuff online.”
The total investment round was worth $2.25 million.
Michael Redd (Retired)
Shooting Guard and 11-year veteran Michael Redd joined Ohio-based NCT Ventures as a partner.
The VC firm focuses on investing in early-stage technology companies. Born and raised in Ohio, Redd said he plans to use his extensive local network to help NCT’s fundraising efforts.
With increasing access to technology, expect more athletes to get involved with investing or starting their own companies.
And, hopefully, they spend their money wisely, or they might end up like NBA forward Antoine Walker.
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