In recent years, several NBA players have transcended their on-court prowess to become savvy investors, particularly in technology startups, franchises, and health and wellness companies. These moves diversify their income streams and set them up for long-term financial success.
Shaquille O’Neal: Diverse Portfolio
Shaquille O’Neal is known for his diverse investment portfolio, which includes stakes in restaurant franchises such as Five Guys, Auntie Anne’s, and Krispy Kreme.
He’s also made notable investments in tech startups, including a profitable stake in Google’s Series A round and an early investment in Apple.
O’Neal’s investments in the Ring video doorbell, which Amazon later acquired, and the ride-sharing app Lyft demonstrate his acumen in identifying promising tech ventures.
Magic Johnson: Urban And Tech Investments
Magic Johnson’s investments span various industries, reflecting his commitment to supporting ethnically diverse and underserved communities. He made big moves by partnering with Starbucks, later selling his stake in 125 stores.
Johnson’s sports-related investments include co-ownership of the LA Dodgers. Johnson has also delved into digital assets with an NFT Anthology set in collaboration with NBA Top Shot.
He also serves on the board of Cameo, and his venture fund focuses on early-stage companies in areas like energy and sports.
Blake Griffin: Focusing On Recovery and Innovation
Blake Griffin‘s investment in Hyperice, a company focused on injury prevention and recovery, reflects his commitment to athlete health, a priority that has been central throughout his NBA career.
Griffin’s involvement since its inception in 2010 showcases his dedication to contributing to developing products that aid in athlete recovery and injury prevention. His partnership aligns with his firsthand experience and understanding of the needs of professional athletes, helping the company in its mission to lead in this niche market.
Beyond Hyperice, Griffin’s investment portfolio includes a range of innovative companies across various industries. His stake in SpaceX has shown his interest in groundbreaking technology and space exploration, recognizing the company’s significant achievements in commercial space travel.
Other investments, such as in the health-focused beverage company Lemon Perfect and the digital platform The Players’ Tribune, illustrate Griffin’s diverse investment interests, from health and wellness to media and technology, further demonstrating his active engagement in ventures beyond his basketball career.
LeBron James: Strategic Brand Partnerships
LeBron James has formed strategic partnerships with brands like Tonal, PepsiCo, and Epic Games, aligning his investments with his brand and interests.
His involvement with Beats Electronics, which Apple acquired, and his lifetime deal with Nike highlight his influence in the tech and apparel industries.
James has also made investments in the sports world, including a stake in the Liverpool football club and the fast-casual pizza chain Blaze Pizza, showcasing his versatility as an investor.
Kevin Durant: Tech And Media Ventures
Kevin Durant has focused on tech and media by investing in Overtime, Mercury, and Imperfect Foods. His involvement in Ethos, a life insurance provider, and Dapper Labs, creator of NBA Top Shot, underscores his interest in fintech and blockchain technologies.
Durant’s investment approach is characterized by backing startups with the potential for significant social impact and innovation.
Andre Iguodala: Venturing Into VC
Andre Iguodala has transitioned into the venture capital world with the launch of Mosaic, a $200 million VC fund. This fund aims to support early-stage companies like enterprise software and healthcare, leveraging Iguodala’s experience and network to foster innovation and growth in these industries.
Kyrie Irving: Expanding Into Digital Marketplaces
Kyrie Irving has expanded his investment portfolio by becoming an equity shareholder in the digital sneaker marketplace Kicks Crew. His role as chief community officer illustrates his commitment to engaging with and contributing to the digital commerce space, alongside other investments in startups focused on energy services and digital avatars.
As the investment landscape continues to evolve, these NBA players are leading the charge. They leverage their earnings and platforms to make impactful financial moves that extend far beyond their basketball careers.
Join us at Benzinga’s 2024 NFL Draft event in Detroit on April 25 for an opportunity to see how athletes turn their sports success into business ventures. This one-day event at Campus Martius offers insights from sports legends like Donovan Edwards and Frankie LaPenna on leaping over the field to the boardroom.
Secure your ticket now for an inspiring experience at the intersection of sports and business. Don’t miss out — tickets are selling quickly!
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