NBA Players Who Are Also Successful Businessmen

The idea of the brand-conscious athlete would have seemed foreign and mysterious just a few decades ago, but the modern athlete is focused on so much more than just his or her sport. Thanks to a few trailblazers, today’s players are aware of how their status as social icons can be used in the business world.

NBA players in particular lend themselves well to business opportunities—they are the only major-sport athletes in America whose faces and physique are displayed prominently during game action, unobscured by helmets or hats. Stick them in an ad or ask them to endorse a product, and legions of fans are already familiar with who is sending them a message. That’s extraordinary power.

But it takes more than just being a recognizable face to succeed. Athletes are constantly battered with pitches from companies looking to exploit their image or play them for suckers, and it takes savvy and experience to figure out who’s being earnest. That means different things depending on the player—some have to spend time learning from people within the industry, others just use their competitive instinct to great effect in the boardroom.

A handful of former and current NBA stars leveraged their social gravity better than their peers, using their own smarts and assistance from business teams to turn brief careers into piles of Scrooge McDuck money. These are the best of that lot, the NBA Players Who Are Also Successful Businessmen.

The profile: First billion-dollar athlete

On and off the court, His Airness is the blueprint for hordes of players who attempted to follow in his footsteps. Nike and Air Jordan are synonymous with sneaker culture today, but it took a combination of on-court exploits and a meticulous image to launch the Swoosh and Jumpman logos into the stratosphere. While today’s athletes are often outspoken about social issues, Jordan was famously neutral about anything that could cut off revenue streams. He once allegedly shied away from endorsing a democratic mayoral candidate because, “Republicans buy sneakers, too.”

His biggest coup, of course, is ascending from player to team owner. Jordan purchased the Charlotte Bobcats (now Hornets) in 2010 for a meager $175 million, buying in a few years before the sale of the Clippers, which sent valuations for franchises through the roof. His largest piece of property is now estimated at $725 million—and more money from the NBA’s new TV deal is on the way. Talk about a hell of a deal.

The profile: Jack of all trades

The Big Aristotle’s constant presence is his biggest strength on the business front. Whether he’s starring in commercials for Buick and Gold Bond, pushing Shaq Soda on his co-stars of Inside the NBA, or quietly owning 10 percent of all Five Guys burger establishments, Shaq never wastes a moment without being involved in some sort of business venture. He’s a great model for any athlete looking to expand into the business world in their post-playing days—use your stature for as much as it will earn you, but make sure being a face is not your only source of revenue.

The profile: Venture capitalist

’Melo talked big game about his business aspirations in a November profile done by ESPN’s Eli Saslow, but it’s far from just bluster. Together with partner Stuart Goldfarb, Anthony launched Melo7 Tech Partners, an investment firm focused on early-stage tech companies. The return is hard to gauge this early, but cosigns from people within the investment industry are encouraging, and he’s got plenty of endorsement money to fall back on either way.

The profile: People’s champ

Johnson’s success as a businessman stems from an understanding that location is key. Johnson invested heavily in urban communities once his playing career ended, and his success running businesses where others refused to go has made him a go-to consultant for companies looking to expand their reach. Best Buy partnered with Magic Johnson Enterprises in 2008 when the tech giant was looking for customer growth in the areas where Johnson thrived.

His passion and personal touch also make him an easy guy to support with your dollar. Pull up to one of his Burger King properties and you’ll most likely hear his voice over the loudspeaker, rather than the robotic tone you’d hear at other locations. His investment in the local sports franchises—he’s currently part-owner of the Los Angeles Dodgers, and he sold a stake of the Lakers in 2010—showcases both his clout and desire to be involved with things that he loves.

The profile: Detroit tough

This seven-time All-Star guard worked out of necessity as a young player—his first contract was for just $15,000, so he spent his off-seasons working a number of jobs, from customer relations to bank teller.

The one that stuck was his tenure at a steel processing company shortly after his NBA retirement in 1978. Bing took what he learned there and opened Bing Steel, which grew from a four-employee operation to one of Michigan’s largest steel producers. His company sold off their assets when he waded into a new industry—politics. Bing was mayor of Detroit from 2009 to 2013.

The profile: Business before basketball

Unlike many of his colleagues in the NBA, Jamal Mashburn has admitted that he was always thinking more about his post-playing career, likening his tenure in the league as “means to an end.”

Mashburn claims that when he’d ride trains in his native New York City as a child, wondering what was in adults’ briefcases inspired his earliest business interest. His actions and success back that up—Mashburn now owns 30-plus Outback Steakhouses, 40-plus Papa John’s stores, and holds assets in the automotive, real estate, and horse racing industries. Now he’s the guy carrying the briefcase, and no longer has to wonder.

The profile: Video master

Nash has seen success writing, producing, and directing viral videos, but his affinity for marketing didn’t happen by accident. The recently-retired guard spent his summer interning for a Madison Avenue ad agency in 2008, and used that wisdom, combined with a love for film, to great effect. Whether it’s ad-work or a documentary—he co-directed Into the Wind, an ESPN 30 for 30—Nash looks poised to stay involved in the production industry for years to come. And like ’Melo, he’s also got his own venture capital firm.

The profile: “Franchise” player

You’d be forgiven if you don’t remember Junior Bridgeman, a 12-year pro who spent most of his career as a bench player with the Milwaukee Bucks. His career off the court, however, is the stuff of legends. Bridgeman went from selling insurance and working at Howard Johnson during NBA off-seasons to being worth upwards of $400 million. His collection of franchises started with five Wendy’s, and has since expanded to hundreds of restaurants around the country.

The profile: The apprentice

Bridgeman’s expertise on the business side of things didn’t go unnoticed by all of his basketball-playing peers—wouldn’t you want to listen to the guy who made $400 million? Mr. Big Shot himself, Chauncey Billups, sought out and formed a partnership with the franchise king to purchase 30 Wendy’s locations from the fast-food giant in 2013. Athletes often talk about the benefits of learning from veterans at the beginning of their careers, and Billups wisely saw fit to apply that principle in retirement. There's no one better to learn from than the master himself.

The profile: Piston-powered

I don’t know what it is about the Motor City, but it’s evidently excellent at churning out basketball businessmen. Johnson’s company, the Piston Group, proudly proclaims their founder’s career arc on the site for their business: “Detroit’s sixth man was actually our first.”

The spark off the bench for the Bad Boys founded Piston Automotive in 1995, creating hundreds of jobs in the Detroit area. His work for the automotive supply company has earned as much prestige as his exploits in basketball—the Initiative For a Competitive Inner City and Inc. magazine rated the Piston Group No. 1 among minority-owned companies in 2005 and No. 5 overall out of 4,500 nominees, respectively. Business with automotive giants such as Ford, GM, Honda, and others have allowed Johnson to expand the business outside of Michigan, with plants in Kansas City, Louisville, and Toledo.

The profile: Worldwide presence

Bryant has long understood the value in embracing an audience that exists beyond North America’s borders. Tours to China, where some fans are so overwhelmed by his presence that they burst into tears, have been a staple of his offseason regimen going back to the mid-2000s. Teaming up with other global icons like Lionel Messi doesn’t hurt his international image either.

Kobe understands that there’s more to it than just being a recognizable face, however. He’s put his money where his mouth is, purchasing over 10 percent of up-and-coming sports drink company Body Armor to sit on their board of directors. Bryant is approaching the business world with the same dogged approach that he has with basketball, cold-calling CEOs of Fortune 500 companies to gain knowledge on what it takes to succeed in that realm.

His investing days are in their early stages, but count me as someone who thinks that he’s too stubborn and competitive to fail in his post-basketball life.

The profile: Today’s undisputed “king”

Like Jordan before him, James is associated with flagship brands—Sprite, Nike, and McDonald’s, to name a few. He’s much more than just a brand jockey, however. King James has also proven himself a savvy investor; he took home a reported $30 million when Dr. Dre sold his Beats line to tech giant Apple. That had to be quite the awkward situation for Samsung—another one of his partners—who had to watch their spokesman profit from a purchase by a direct competitor.

LeBron has also never shied away from playing with the minds of competitors. As a 16-year-old, he attended adidas’ ABCD basketball camp wearing Nike sneakers, and Nike’s All-American camp wearing adidas kicks. Many would paint his $90 million Nike deal entering the league as an inevitability, but that contract was an award years in the making. His current two-year contract with Cleveland—which expires right before contract values will skyrocket with the new TV deal—is another example of LeBron wielding his status as a tool, passing over short-term security for long-term dividends.