Dunk For Dough: NBA Stars' Most Profitable Business Ventures

Highlights

• NBA stars are some of the highest-paid professionals, with players averaging over $10 million a year and making entrepreneurial decisions to diversify their income.
• Players like Michael Jordan , Shaquille O'Neal , and LeBron James have made successful business investments, including owning NBA franchises, restaurant chains, tech companies, and endorsing major brands.
• Other NBA players, such as Carmelo Anthony , Kevin Durant, Andre Iguodala , Stephen Curry , Chris Paul , James Harden , and Russell Westbrook , have also demonstrated shrewd business acumen and made lucrative investments in various industries.

NBA stars (and athletes in general) are among the highest-paid professionals in the world.

Notably, NBA stars are at the pinnacle of athletic compensation. The NBA (National Basketball Association) boasts the largest player salaries in terms of professional team sports in the United States.

In the league, players take home an average annual salary of over $10 million, going from slam-dunking on the court to slamming big checks into their bank accounts.

With their time in the spotlight limited, some players recognize the transient nature of sports earnings and make entrepreneurial decisions to diversify their income streams and secure their financial future by investing in lucrative ventures.

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From restaurants and tech innovations to a variety of other ventures, these players are not just providing funds for businesses in which they are involved – they are also actively involved in high-level decision-making in boardroom and C-suite meetings with global brands, in a bid to broaden their business empires.

10 Michael Jordan (Retired)

Michael Jordan's net worth of over $3 billion tells you all you need to know about his unparalleled success in the business world, but his accomplishments extend far beyond the hardwood.

Even before he retired from the court, Jordan was already involved in several business ventures, including his partnership with Nike and his endorsement deals with Gatorade and Hanes.

Jordan's most lucrative business in his portfolio is undoubtedly his majority ownership of the Charlotte Hornets NBA franchise.

In 2006, he purchased the team for $175 million, and under his leadership, the Hornets' value has skyrocketed to over $1.5 billion.

This remarkable appreciation represents a nearly tenfold return on Jordan's initial investment.

9 Shaquille O'Neal (Retired)

Given his overspending nature in his playing days, Shaquille O'Neal surprisingly parlayed his on-court dominance into a diversified business portfolio since his retirement.

The former MVP has boasted ownership of 155 Five Guys restaurants, 40 24-hour Fitness gyms, and a major stake in Authentic Brands, which holds retail entities like Forever 21, Narney New York, and JC Penney.

In a June 2023 profile, the Los Angeles Times described O'Neal as a proponent of franchised businesses, reporting:

He’s a big believer in franchising, and over the years has owned 40 24-Hour Fitness gyms, 155 Five Guys restaurants, at least one Krispy Kreme doughnut shop, 17 Auntie Anne’s pretzel stands and nine Papa John’s pizza places.

His Big Chicken chain will soon have 18 locations across the country and on two Carnival Cruise ships and offers its own franchise opportunities.

Notably, the four-time NBA champion – who began his shoe career with Reebok – recently returned as President of Reebok Basketball.

Of his stake in Authentic Brands, the Los Angeles Times said the company was in the process of acquiring major surf brands like Billabong and Quicksilver/Roxy:

The company owns Reebok — one of O’Neal’s earliest endorsement partners acquired in a deal he pushed for — and earlier [in 2023], Authentic Brands said it would acquire surf brand Boardriders, which includes Quiksilver, Roxy and Billabong.

Reebok is likely the largest source of profit for him in that respect, but "Big Shaq" also invested in Google before it went public in 2004.

His portfolio also includes an $840,000 commitment to nine Papa John's restaurants, which brought him 30 percent of the company.

O'Neal is worth over $350 million, and adds $22 million through endorsement deals with the likes of Arizona Cream Soda, Icy Hot, Gold Bond, Buick, and Zales each year.

8 Carmelo Anthony (Retired)

Carmelo Anthony, a basketball icon known for his exceptional scoring prowess, has also proven to be a savvy businessman.

Anthony's impact on the tech industry has run for nearly a decade, since the founding of Melo7 Tech Partners in 2013.

The former scoring champion co-founded the New York-based venture capital firm to specialize in seed, early, and late-stage investments.

Melo7's mission is to identify and support emerging digital media, consumer internet, and other technology-related ventures.

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M7 Tech Partners has invested in over 30 companies, including Lyft, SeatGeek, and DraftKings, showcasing Anthony's ability to identify promising startups.

In addition to Melo7, Anthony has also invested in a diverse range of companies, including Genies, a celebrity-backed messaging platform; Nobody's Pizza, a New York-based pizza chain; Overtime, a sports media company targeting the Gen-Z demographic; and The Ainsworth, a luxury menswear brand.

Anthony's net worth of approximately $170 million shows how profitable his investment portfolio is.

7 LeBron James

LeBron James, the first active NBA player to achieve billionaire status, leverages his success beyond the court.

Amassing over $431 million in pretax salary from his time with the Cleveland Cavaliers, Miami Heat, and current team, Los Angeles Lakers, James has also amassed an impressive $900 million off the court through endorsements and business ventures in his illustrious NBA career.

The four-time NBA champion has showcased the same shrewdness in business as he does on the court.

His smartest move? Investing in Beats By Dre in 2008, which, post-Apple's acquisition in 2014, brought him a cool $700 million profit.

James was one of the earliest investors and ambassadors of the headphone brand.

He earned an additional $30 million in cash and stock when Apple bought the company for $3 billion in 2014.

6 Kevin Durant

Through his collaboration with his business manager Rich Kleiman, with whom he co-founded investment firm Thirty Five Ventures, Kevin Durant has funded over 100 early start-ups in fintech, broadcasting, e-sports, cannabis, and cryptocurrency.

The former MVP has invested in companies such as Robinhood and Acorns, which have made him upwards of $10 million combined.

However, his most notable investment is Postmates, a food delivery service.

In 2016, Durant invested $1 million at a discounted entry price in the on-demand food delivery service, recognizing its potential for growth in the burgeoning food delivery industry.

His foresight paid off when Uber acquired Postmates for $2.65 billion in 2020, turning Durant's $1 million investment into a staggering $15 million profit.

5 Andre Iguodala

Andre Iguodala's strategic investment in video-conferencing software, Zoom, not only propelled the company to new heights but also significantly enriched his own financial portfolio.

The 2015 Finals MVP and four-time NBA champion and his business partner have invested between $25,000 and $150,000 and has invested in over 50 companies, including Zoom, Datadog, and Jumia, where he sits on the board of directors.

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In 2018, Iguodala ventured into conferencing software, by investing in Zoom when it was valued at a billion dollars.

If his investment occurred during this period, it would have seen an astounding increase of at least 4,000 percent.

Not stopping there, Iguodala demonstrated his keen eye for profitable opportunities by investing in Twice, an online marketplace for secondhand clothing, which resulted in a lucrative profit after eBay's acquisition in July 2015.

With millions already in the bank and a stable future boosted by investments in tech startups, Iguodala could retire in peace, knowing he is already a winner on and off the court.

4 Stephen Curry

Stephen Curry is, without doubt, one of the most marketable athletes in the world and has successfully managed to cash in on his image in the business sphere.

The baby-faced assassin's entrepreneurial ventures and investment acumen have made him one of the most successful athletes-turned-businessmen in recent history.

At the heart of Curry's business empire lies SC30 Inc., a multifaceted company he founded in 2017 to manage his brand partnerships and investments.

Under SC30 Inc.'s umbrella, his media company, Unanimous Media, has produced several acclaimed documentaries and television shows, including Stephen Curry: Underrated and Becoming Warriors.

Curry is also invested in Tonal, a smart home gym startup, which is valued at up to about $600 million as of 2023, according to the Wall Street Journal.

The two-time MVP is an equity partner in OXIGEN Water and has stakes in companies like Guild Education and CoachUp.

He's also an Advisor for collaboration software startup Miro.

3 Chris Paul

Chris Paul (or CP3, as he is fondly called) has proven to be just as adept at making smart investment decisions as he is on the basketball court.

His venture capital portfolio is particularly notable for its focus on plant-based food companies, reflecting his personal commitment to a vegan lifestyle.

One of Paul's most lucrative investments was in Hyperice, a massage fitness manufacturer.

In 2017, he reportedly invested $48 million in the company.

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By 2020, Hyperice's valuation had soared to $700 million, resulting in a significant return on investment for Paul.

Chris Paul has also poured around US$4 million into Chirpify, a marketing platform, and RSPCT Basketball (which specializes in tracking players' shooting from the field and helps enhance performance).

Annually, Paul earns an estimated $8 million from his investments.

2 James Harden

James Harden has earned over $338 million in salary in his playing career, but he is not resting on his green laurels.

The former NBA MVP has proven to be just as adept at making smart investment decisions as he is on the basketball court. Harden's most lucrative investment to date was in BodyArmor, a sports drink company.

In 2014, he reportedly invested $60 million in the company, recognizing its potential for growth in the sports nutrition industry.

His foresight paid off handsomely when Coca-Cola acquired BodyArmor in 2021 for a staggering $8 billion, resulting in a massive return on investment for Harden.

His early stake in BodyArmor is estimated to have translated into more than a 4000 percent gain following the takeover.

1 Russell Westbrook

Russell Westbrook has earned $336.4 million (before taxes and agent fees) across his NBA career, along with around $200 million more in endorsements and business investments.

His overall net worth is pegged at $375 million.

Currently ranked as the 14th-highest-paid athlete globally, the two-time NBA MVP is already making a mark with his fashion brand, advertising agency, and a variety of other lucrative investments.

At the heart of Westbrook's business empire is Russell Westbrook Enterprises (RWE), a multifaceted company that serves as the foundation for his diverse ventures.

One of RWE's most promising assets is RW Digital, a digital advertising business that has already secured notable commercial partnerships and is projected to generate $37 million in revenue.

Westbrook has also established himself as a fashion entrepreneur with his streetwear brand, Honor The Gift.

Founded in 2017, Honor The Gift has experienced significant growth, expanding to over 300 retail locations worldwide.

Westbrook has been very vocal about his dreams of becoming a billionaire; with his current portfolio, it has been estimated that it will take him up to 20 years to hit the $1 billion mark.

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