Business Daily
The making of a billionaire athlete
Feb 15, 2024
Tiger Woods, Michael Jordan, LeBron James, and Magic Johnson are the few sportspeople who have achieved success on and off the field, becoming billionaires. The podcast explores their secrets and speculates on future athletes who could join the list. It also discusses Nike's storytelling, the significance of basketball in China, racial inequality in sports, and the barriers faced by female athletes.
18:22
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Quick takeaways
- Becoming a billionaire athlete requires a combination of playing careers, strategic investments, and endorsement deals.
- Female athletes' earning potential is expected to significantly increase in the future due to the growth of women's sports.
Deep dives
Key Points on Athletes Becoming Billionaires
Michael Jordan, Tiger Woods, LeBron James, and Magic Johnson have all become billionaires through a combination of playing careers and strategic investments and endorsement deals. Michael Jordan's brand brought in roughly $5 billion to Nike in 2022, and he sold his majority stake in the Charlotte Hornets for $3 billion. Tiger Woods made $1.1 billion, primarily through endorsement deals, real estate investments, and golfing ventures. LeBron James earned over $430 million on the court and reached $1 billion through endorsement deals and equity in brands. Magic Johnson became a billionaire through a 60% ownership stake in Equitrust and various investments.
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