Retirement in the NBA is way earlier than the norm, which is why these 9 NBA players turned successful entrepreneurs wasted no time making a career outside of basketball as soon as they made their farewell shot. Most NBA players retire in their 40s or a few years before that. That’s pretty young for any retiree if you’ll be looking at it from a business perspective.
These athletes knew that chasing rings isn’t enough. There’s life after basketball and simply conducting summer clinics or attending ribbon cutting ceremonies post-retirement won’t cut it. No matter how big of a star a player you are, mismanagement of finances can happen to anyone even to the best athletes in the league.
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Just like the 9 NFL players turned successful entrepreneurs, these NBA stars have also shown business acumen outside of their sports careers. Some took big risks starting their own companies and investing in startups. Others opted for ventures with lower risks like franchising and becoming business partners. Regardless, these athletes carved their own paths to entrepreneurship.
We curated this list of NBA players turned successful entrepreneurs from CNBC, Business 2 Community, Complex, and The Hustle. The players are ranked according to their estimated net worth. Are you ready to find out who these business-savvy NBA players are? Read on!
9. Chauncey Billups (Estimated net worth: $45 million)
Chauncey Billups won an NBA title with the Detroit Pistons in 2004 and was also named the Finals MVP in the series. Before his stellar accomplishments, he played with four different teams. His No. 1 jersey was retired by the Pistons and his No. 4 jersey was retired by the University of Colorado. He played in the league for 18 years.
Mr. Big Shot made it big in the business arena by being a franchisee. He partnered with former NBA player Junior Bridgeman and formed BB St. Louis LLC. Through the company, they bought 30 Wendy’s restaurants. When not managing his restaurants, Billups is a TV analyst for ESPN.
8. David Robinson (Estimated net worth: $70 million)
We are continuing our list of NBA players turned successful entrepreneurs with David Robinson, who is a two-time NBA champion from the San Antonio Spurs. He was the league’s Defensive Player of the Year in 1992 and regular season MVP in 1995. Robinson is also a two-time Olympic gold medalist. He was previously a Navy officer and this earned him the nickname “The Admiral.”
Robinson’s towering presence in the NBA was also seen in his business ventures. In 2007, he founded the Admiral Capital Group, a real estate equity company, in partnership with Goldman Sachs investor Daniel Bassichis. Robinson’s firm invests in properties ranging from $15 million to $50 million. In 2015, The Admiral acquired 11 properties worth $400 million.
7. Chris Webber (Estimated net worth: $80 million)
Chris Webber is up next on our list of NBA players turned successful entrepreneurs. He is the first pick of the 1993 NBA draft. He was also the Rookie of the Year that season. He is a five-time NBA All-Star. He was part of the Fab Five in college with the University of Michigan. C. Webb played for Golden State Warriors, Washington Wizards, Sacramento Kings, Philadelphia 76ers, and Detroit Pistons.
Webber’s business career is just as impressive as his basketball career. He is an active investor in companies related to sports, basketball, film, and real estate. C. Webb owns Maktub LLC, a real estate development firm that focuses on properties in Chicago. He opened a restaurant in Sacramento called Center Court with C-Webb. Not only that, Webber is also a music producer who’s been featured in multiple hip hop tracks.
6. Steve Nash (Estimated net worth: $95 million)
Steve Nash ranks 6th on our list of NBA players turned successful entrepreneurs. He is one of the best point guards to ever play in the NBA. He is a two-time league MVP and an eight-time All-Star. More importantly, Nash is a five-time NBA assists leader. ESPN named him as the ninth greatest point guard of all time. His best years were with the Phoenix Suns but Nash also played with the Dallas Mavericks and L.A. Lakers.
Nash’s impressive court vision translated to his equally impressive investment vision. The elite point guard partnered with advertising expert Mike Duda to form the venture capital firm Consigliere. The company also offers marketing consultancy. His company’s portfolio include investments in Under Armour, Nike, and Vitamin Water. Nash has also been busy directing and producing videos like the Into the Wind, which he co-directed, and was shown on ESPN 30 for 30. He also invested in startups such as Contently, Birchbox, and Warby Parker.
5. LeBron James (Estimated net worth: $300 million)
LeBron James has recently delivered Cleveland’s first championship, ending a 52-year drought in the professional sports title. He also showed an epic finals performance leading all players of both teams in points, rebounds, assists, blocks, and steals—plus a triple-double in Game 7. He made history in leading the Cavs as the first team in NBA Finals history to come back from a 3-1 deficit. The King is a three-time NBA champion, three-time Finals MVP, four-time regular season MVP, and a two-time Olympic gold medalist.
But The King’s reign isn’t limited to the court alone, he is also taking command of the business world. James has his own agent and sports-marketing agency LRMR. He also owns Uninterrupted, a digital video company hosted on Bleacher Report. Aside from that, The Chosen One formed the production company SpringHill Entertainment, along with friend Maverick Carter, which produced More Than a Game, Becoming, Survivor’s Remorse, and the animated series The LeBrons. He is also a minority owner of Liverpool Football Club.
His endorsements for 2016 is valued at $54 million and he is currently the third highest paid athlete in the world with a current salary of $23.2 million. James has yet to sign another contract with the Cavs for next season. He also inked a lifetime deal with Nike late last year and it is said to be worth more than $1 billion. LeBron shoes generate a revenue of $350 million a year. LeBron is one of the 9 NBA players turned successful entrepreneurs who is set to have an even better career as a business mogul once he retires from the game.
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4. Kobe Bryant (Estimated net worth: $320 million)
Up next on our list of NBA players turned successful entrepreneurs is Kobe Bryant, who is a four-time NBA champion, two-time Finals MVP, and two-time Olympic gold medalist. The Black Mamba spent his entire career with the L.A. Lakers and has recently retired this past season. Bryant was able to have his farewell tour in every city and received a well-deserved tribute every time. He was drafted straight out of high school like LeBron James. He played a total of 20 years in the NBA.
The Mamba Mentality has given success in business as well. Bryant founded Kobe Inc., a company that owns and grows brands related to the sports industry such as BodyArmor sports drink. His firm also bought The Player’s Tribune, a media platform for athletes. The idea to form his own company came during the time when he was recuperating from an injury. Bryant shared his company’s mission statement to Forbes, “Kobe Inc.’s mission statement is to own and grow brands and ideas that challenge and redefine the sports industry while inspiring the world.” His two-decade career gave him $680 million in total earnings from salary and endorsements.
3. Shaquille O’Neal (Estimated net worth: $350 million)
We are continuing our list of NBA players turned successful entrepreneurs with Shaquille O’Neal who is a four-time NBA Champion, winning his first three titles with the L.A. Lakers and the last one with the Miami Heat. He is a three-time Finals MVP and an Olympic gold medalist. Shaq is one of the most dominant players that ever played the league, listed at 7’11” and weighing 325 lbs. The Diesel is a walking media sensation, providing entertainment on and off the court. He is part of the 2016 Naismith Memorial Basketball Hall of Fame inductees. The ceremony will be held on September 9, 2016.
O’Neal dominance is also evident in his business ventures. He was one of the few who bought Google stock before the company’s IPO. He currently has 17 Auntie Anne’s restaurants, 40 24 Hour Fitness gyms, 150 car washes, and 155 Five Guys Burgers and Fries franchises—owning 10% of all the burger restaurants. His company Shaq Inc., is a brand that sells beverages, clothes, jewelry, children’s books, cartoons, video games, and even medical supplies. The Big Aristotle has proven that his business IQ is just like his basketball IQ—it is way up there.
2. Magic Johnson (Estimated net worth: $500 million)
Earvin “Magic” Johnson ranks second on our list of NBA players turned successful entrepreneurs. He played with the L.A. Lakers his entire career and gave five championship titles to the franchise. He is a three-time Finals MVP and three-time regular season MVP. Johnson is also part of the “Dream Team” that won the gold medal for the U.S. in the 1992 Olympics. Before the 1991-92 season, Magic found out that he had HIV. Despite being retired, he was voted by the fans to play in the 1992 All-Star Game. He is known as the tallest point guard in the league.
Johnson’s magic isn’t limited to the court alone, he also extended it to his business ventures. He started Magic Johnson Enterprises, a company that brings popular brands to urban neighborhoods. His partners include T.G.I. Fridays, Starbucks, AMC Theaters, and 24 Hour Fitness. In 2011, he joined Detroit Venture Partners and currently has Stylecaster, FLUD News, and Sociocast in his portfolio. He is also a part owner of Los Angeles Dodgers, a Burger King franchisee, and a real estate investor through his Canyon-Johnson and Yucaipa-Johnson funds.
1. Michael Jordan (Estimated net worth $1.14 billion)
Also known as the GOAT (Greatest of All Time), Michael Jordan is a six-time NBA champion and six-time Finals MVP. Not only that, he is a five-time regular season MVP, 14-time NBA All-Star, and a two-time gold medalist in the Olympics. MJ got all his rings with the Chicago Bulls under coach Phil Jackson. His undefeated and consecutive finals victories make him the greatest athlete to ever play the game.
His Airness didn’t only dominate the basketball game but also the business arena. He currently owns the Charlotte Bobcats, a playoff contender team. His stakes with the team are now valued at $500 million. He also has his own Jordan brand with Nike. MJ’s sneaker line still sells like hotcakes. Nike earns $2 billion annually from Jordan shoes! Aside from that, he still has long-term endorsements with Gatorade and Hanes to pad his growing income.
These 9 NBA players turned successful entrepreneurs saw their basketball career as only one chapter of their lives. When that one closed, they bravely opened a new one and conquered the world of business. Their success only goes to show that the end of one career can be the beginning of a new one. As long as you put your heart and mind into it, there’s no stopping what you can accomplish.
