Retirement can shake up an athlete’s world and bring doubts about finances or what comes next. Some may fumble with managing their finances, but others create empires that outshine even their sports income. These athletes leveraged fame, smart investments, and new business paths to unlock long-term wealth.
Such stories can inspire seniors in assisted living communities to plan financially for post-retirement pursuits, too. So, let’s dive into the stories of some wealthy retired sports persons who keep piling onto fortunes beyond time spent on playing fields.
Michael Jordan: The Billion-Dollar Brand
Michael Jordan, known as the best basketball player ever, has made a pile of money since he retired. How? By teaming up with Nike and launching Air Jordan shoes—it totally changed the sneaker business while bringing in hefty earnings.
But that’s not all! In 2010, he bought most shares in the Charlotte Hornets, putting his smart business skills on display again. Fast forward to 2024, his estimated net worth is roughly $3.75 billion, making him globally the wealthiest athlete who hung up their jersey.
Magic Johnson: From NBA Star to Business Mogul
A legendary career in the NBA was just a start for Earvin “Magic” Johnson. After basketball, he swapped his jersey for corporate attire and aced it as an entrepreneur. Magic Johnson Enterprises is his brainchild, with stakes in different sectors—from real estate to entertainment, plus sports teams!
Notably, Johnson was a minority partner in the group that purchased the Los Angeles Dodgers in 2012. Today, the company’s net worth stands strong at over $700 million—a testament to his business flair.
David Beckham: Global Icon and Businessman
David Beckham, a professional soccer legend who retired in 2013, broadened his horizons with purposeful business undertakings. He then co-created Inter Miami CF; it’s part of Major League Soccer now! Alongside this venture were prosperous agreements for endorsing big brands like Adidas and Tudor watches.
These efforts bore fruit as they boosted Beckham’s net worth, notably after retiring from sports. Come 2024, he shares an impressive fortune amounting to £455 million with Victoria, his wife.
Shaquille O’Neal: Diversified Investments and Endorsements
Basketball star Shaquille O’Neal didn’t stop making moves when he retired. He directed his energy into diverse business ventures instead, spanning from tech to food and entertainment sectors. Endorsing products for top brands like PepsiCo and Icy Hot turned out to be a smart move!
Even smarter? Pouring cash into companies such as Google or the Papa John’s Pizza chain. Nowadays, estimates put his net worth at about $500 million, with an income of around $60 million per year just from these endeavors.
Conclusion
These sports icons show that with smart planning, one’s brand can fuel big-time financial wins even after retiring. Their journeys inspire athletes today and tomorrow to ponder life off the field—most importantly, never forget how crucial it is to handle money wisely!
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