10 athletes who built business empires beyond sports: From Shaquille O'Neal to LeBron James
10 successful athletes who turned affluent business owners
While becoming a professional athlete often leads to substantial wealth, many sports stars have expanded their financial success by investing their earnings into thriving businesses. Explore how these ten athletes have leveraged their sports careers to build impressive fortunes outside the field.
1. Shaquille O’Neal
Shaquille O'Neal, the retired NBA star, has enjoyed significant financial success through strategic investments. He once owned a 10% share in the Five Guys franchise, which he sold after finding it highly profitable. Additionally, O'Neal was an early investor in Google and put money into Ring before it was acquired by Amazon for $1 billion.
2. Earvin ‘Magic’ Johnson
NBA icon Earvin “Magic” Johnson is the chairman and CEO of Magic Johnson Enterprises, an investment firm valued at around $1 billion. He formerly owned 125 Starbucks locations, although he has since sold them, as per GOBankingRates.
3. George Foreman
Former boxer George Foreman has amassed significant wealth from the grill named after him. Introduced in 1994, the George Foreman Grill has sold hundreds of millions of units, and according to Forbes, Foreman has earned up to $8 million per month from this venture, as reported to AARP.
4. Michael Jordan
Michael Jordan's enduring partnership with Nike has been exceptionally lucrative. By 1986, Nike had already racked up $100 million in sales from Jordan shoes and apparel. The Jordan franchise was established as its own brand in 1997, according to Quartz. In December 2019, Nike CEO Mark Parker revealed that Jordan Brand reached a major milestone, generating $1 billion in a single quarter.
5. Alex Rodriguez
In 2003, former World Series champion Alex Rodriguez established A-Rod Corp as a real estate investment firm. The company has since expanded into real estate development and diversified into sectors including sports, wellness, media, and entertainment. Today, A-Rod Corp operates as a comprehensive investment firm with over 500 employees.
6. Venus Williams
Professional tennis player Venus Williams has launched several ventures, including EleVen by Venus Williams, which features activewear and sunscreen, and V Starr, a company focused on interior design.
7. Serena Williams
In 2014, tennis champion Serena Williams founded Serena Ventures, an investment firm dedicated to supporting diverse founders. The firm now has a market capitalization of $12 billion, as noted on its website. Additionally, Williams has launched S by Serena Williams, a clothing and accessories line, and a collection of elegant jewelry under her name.
8. LeBron James
LeBron James, a four-time MVP, was the highest-earning NBA player in 2020, according to Forbes. Beyond his endorsements, he has built significant wealth through his business ventures. James owns SpringHill Entertainment, a production company; Uninterrupted, a media company; and is a partner in Ladder, a health and wellness brand. He also co-owns 19 Blaze Pizza locations in Chicago and South Florida and has invested in the pizza chain.
9. Tom Brady
Tom Brady, a six-time Super Bowl champion, has created a broad health and wellness brand named TB12, offering products such as athletic wear, protein bars, snacks, supplements, electrolytes, workout gear, and recovery tools. Additionally, he has launched 199 Productions, a production company dedicated to making documentaries, feature films, and TV shows.
10. Dwayne 'The Rock' Johnson
Dwayne Johnson, formerly a professional wrestler, has successfully transitioned into a major figure in the entertainment industry. Known for his high box office appeal, he has also made notable business moves. Recently, Johnson, in partnership with RedBird Capital, acquired the XFL for $15 million. He also founded Teremana Tequila and has a branding partnership with Under Armour for the Project Rock line.
