Shaquille O’Neal, Magic Johnson and more: 10 stars who remained millionaires after retiring from the NBA
NBA players are among the highest-paid athletes in the world. Many of them make more than $40 million per year, and that just comes from their contracts. They make a lot from endorsements and their own businesses as well.
However, a lot of players don't manage their money well. This becomes a problem once they retire as they are used to spending a lot, yet they stop getting millions every year.
While many players have this problem, there are also those who have retired and are still millionaires. These players invested their money so they could live comfortably without having to rely on their NBA contracts.
In this article, we will take a look at 10 NBA players who remained millionaires even after their retirement.
Shaquille O'Neal
Shaquille O'Neal was one of the best players of his generation and he achieved a lot of success in the NBA. However, the big man is also a very savy businessman whose portfolio is impressive.
His net worth is estimated at $400 million in 2022, and he reportedly makes $60 million per year from various business endeavors.
Magic Johnson
Magic Johnson was a unique basketball player who dominated the league for a long time. However, his NBA career was cut short due to HIV, but he successfully transitioned into the business world.
The former LA Lakers point guard formed Magic Johnson Enterprises after retiring, and the investment company is now worth more than $1 billion. Furthermore, Johnson's net worth is estimated at $600 million in 2022.
Michael Jordan
Michael Jordan is a well-known competitor, so he must have taken the business side of life personally as well. He is among the richest people in the world as his net worth is more than $2.2 billion.
Jordan joined the billionaire club in 2014, and it took him less than 10 years to double the amount of money that he had. Impressive, just like his basketball skills.
Dwyane Wade
Dwyane Wade is one of the most recently retired basketball players. However, he's successfully managed to invest his money into various businesses that he owns.
At only 40, Wade's net worth is estimated at $170 million. A lot of the money comes from his lifetime deal with Li-Ning, in which he also has an equity stake.
Yao Ming
Yao Ming was one of the most interesting players to watch during his prime. The 7-foot-6 giant made less than $100 million from the NBA, but his business ventures made him a very successful investor.
Since his retirement, Yao has invested in restaurants, wines, websites, basketball teams and much more. His estimated net worth in 2022 is $160 million.
Tim Duncan
Tim Duncan won five championship rings in his NBA career and is generally regarded as one of the best big men in the league's history. Since his retirement, he's been involved in many different businesses.
Duncan opened his vehicle customization shop, and he's also been getting a lot of money from endorsements from the United States to Japan. His estimated net worth is $130 million.
Vinnie Johnson
Vinnie Johnson's NBA career started in late 1970s and ended in early '90s. He made less than $10 million from his contracts, yet his current net worth is around $400 million, which is very impressive.
After retiring, Johnson founded an automotive company called the Piston Group. The company is worth billions, and Vinnie is its CEO and chairman.
David Robinson
David Robinson was one of the most skilled big men to play in the NBA. He's also very intelligent, which is why it's not surprising that he successfully transitioned into the business world.
The big man formed Admiral Capital Group in 2018, and he also owns many hotels and office buildings. The Admiral's current net worth is estimated at $200 million.
Junior Bridgeman
Junior Bridgeman is probably the least famous player on the list. However, he's also the richest, as his net worth is estimated at $600 million!
Bridgeman was a great role player who played 12 years in the NBA. After retiring, he invested his money into Wendy's food chain. Bridgeman Foods Inc. now operates more than 100 of Wendy's and Chili's franchises, which is amazing.
The most fascinating part? The former NBA player was not even a millionaire during his professional career. He made only around $350,000 in his highest-paid season.
Hakeem Olajuwon
Hakeem Olajuwon was a one-of-a-kind basketball player who dominated the league and won two championships. Since his retirement, The Dream has been active in the real estate business and has made a fortune from it.
Olajuwon's business practices are also very interesting. Since he's a Muslim, he doesn't borrow money for his acquisitions since it's against Islamic law. Instead, he always invests his own capital without taking loans from banks.
Olajuwon's net worth is estimated at $300 million.