You have to be tough to make it to the league. You have to be even tougher to make it outside of the league.
It’s been reported that about 60 percent of former NBA players go broke within five years of retirement. This can be attributed to players funneling money into bad investments, bankrolling the lifestyles of those around them (mostly extended family), being faced with medical problems, and living beyond their means.
Fortunately, many NBA players have grown savvier over the years and have leveraged their athletic talents into developing strong personal brands worth multimillions.
These are a few of the most successful NBA players turned businessmen.
01
Shaquille O’Neal
The Laker legend has his hands in every pot you can think of. From fast food to early investments in Google, Vitamin Water and Muscle Milk among many others. It’s reported that he’s also the owner of gyms, 155 Five Guys Burgers restaurants, 17 Auntie Annie’s Pretzels restaurants, 150 car washes, 40 24-hour fitness centers, a shopping center, a movie theater, and Las Vegas nightclubs.
02
Carmelo Anthony
In a venture with long-time business partner Stuart Goldfarb, Anthony launched Melo7 Tech Partners, a company that invests in early-stage tech brands. He’s also been endorsed by Jordan Brand, Panini, Powercoco, Foot Locker, Isotonix and Haute Time among others.
03
Lebron James
With flagship brand endorsements like Sprite, Nike, and McDonald’s among others, Lebron has charted a path of incredible business success. That’s just the tip of the iceberg for him, though. A smart investor, he’s had early buy-in on brands like Blaze Pizza, Fenway Sports, and Beats by Dre.
04
Chauncey Billups
The former Boston Celtics point guard invested his NBA salary and reportedly purchased 30 Wendy’s locations in 2013. Now, he is the head coach for the Portland Trail Blazers of the National Basketball Association.
05
Magic Johnson
Johnson is one of the original NBA players-turned-moguls. His stunning success large-scale urban development projects including Starbucks locations and movie theaters. He’s also a fast food franchisee and part owner of sports teams like the Los Angeles Dodgers and the Los Angeles Sparks.
06
Jamal Mashburn
The ever-business-minded former Knicks small forward now owns more than 30 Outback Steakhouses, nearly 50 Papa John’s stores, and investments in horse racing, real estate, and auto industries.
07
Michael Jordan
The ultimate NBA goat’s business prowess is the stuff of legends. As history’s first-ever billion-dollar athlete, his likeness and name are synonymous with Nike, and have completely architected the modern sneaker industry.
Outside of that, he’s owned restaurants, made his foray into the Metaverse with a web3 platform co-owned by his son Jeffrey and is the proud owner of the Jordan the Charlotte Hornets.
