#LAVIPAgent to talk about some famous athletes who turned into some tremendous businessmen and businesswomen after their careers (some during!). As you know I played professional basketball overseas in my hayday but now I spend my full time devoted to my other passion, Luxury Real Estate. I think a little known fact is how business savvy some of these legendary players are. Often professional athletes are earning a lot of money and building wealth during their careers so it is only natural they invest it in business after. So without further ado, here are some great stories of athletes turned entrepreneur!
Arguably the best basketball player known to the game, Michael Jordan changed the way basketball is viewed. He played for the Chicago Bulls and later for the Washington Wizards, totaling more than $90 million in earnings as a player salary.
This tennis ace couldn’t wait for retirement to start her own company, and the seven-time Grand Slam singles champ now has an equally impressive business résumé as she does an athletic one.
She is the founder and CEO of the clothing line, EleVen, and interior design company, V Starr Interiors. She told Forbes magazine, “I think as an athlete you’re always overcoming all kinds of challenges. That’s the name of sport — it’s a challenge. So definitely applying those lessons of perseverance and learning from mistakes and setting goals has definitely helped me in business.”
The hockey legend traded in his career on ice for a career in business. He told the Financial Post, “You can’t just retire at the age 40 years old and play golf every day. I tried it for one year and you quickly find out it’s nice to be active.”
The all-time leading goal scorer in the NHL chose to be active in the business world, and is now involved in several business ventures, including the “Wayne Gretzky’s” restaurant in Toronto, and Wayne Gretzky Estates Winery.
One of the most popular and talented basketball players in NBA history, Earvin “Magic” Johnson is the consummate entrepreneur. After retiring from professional basketball following 13 seasons with the Los Angeles Lakers, Johnson quickly began building a business empire all his own, founding Magic Johnson Enterprises. His eponymous company is now a conglomerate, with a varied portfolio of business holdings, including movie theaters and restaurant chains. MJE also focuses on uplifting the neighborhoods in which it enters, offering programs and services aimed at empowering the local residents who live and work there.
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