Retired Athletes Who Have Become Successful Business Leaders

Many retired athletes are turning to entrepreneurial endeavors. They’re expanding their wealth, using their paychecks to launch empires outside of the sports world. Let’s take a look at these former athletes who have turned into top business leaders.

Michael Jordan

This athlete changed how people viewed basketball and further redefined how former athletes are viewed. A member of the Chicago Bulls and later the Washington Wizards, Michael Jordan earned over $90 million during his career. Arguably the best basketball player of his time, Jordan broke records both on and off the court.

Today, Michael Jordan is a successful CEO. Besides being the face of Nike’s Air Jordan sneakers, he also serves as a majority owner of the Charlotte Hornets. With a net worth exceeding $500 million, Jordan’s other endorsements include Coca-Cola, Hanes, McDonald’s, and Gatorade.

Tony Hawk

With a long history in the sport’s world, Tony Hawk became a pro in the skateboarding world at only 14. Over the course of his career, he participated in over 100 pro contests, out of which he won 73. Before his retirement, this former athlete invented over 80 tricks. Tony Hawk forever changed the face of the skateboarding and inspired plenty of aspiring skateboarders.

Since leaving competitive skateboarding behind, Hawk has become a successful entrepreneur. He serves as the CEO of one of the biggest global skateboarding companies, the Birdhouse. He also owns a clothing line called Tony Hawk Signature Line. In 1999, Hawk worked together with Activision to create a skateboarding video game, which holds the record as PlayStation’s third highest selling title. His autobiography was also the bestseller in New York Times magazine. According to sportscasting.com, Tony Hawk’s net worth is around $140 million, a true indication that continues his successful streak, even after retiring from pro sports.

John Elway

The former athlete is famously known for the 1989 AFC Championship game, where he had a 98-yard offensive series in 15 plays. John Elway played for the Denver Broncos in a six-year contract and earned $12.7 million within that period. While with the Broncos, he helped lead the team to five Super Bowl appearances and two Super Bowl wins.

Elway’s success didn’t stop after retirement. Since retiring from football, he has owned several businesses and founded a non-profit organization called the Elway Foundation to prevent child abuse. He is still in the car business, even after selling his five car dealerships to the AutoNation company. Currently, he is the owner of two restaurants that earn millions annually.

George Foreman

A heavyweight champion who impressed everyone in the boxing world with his tactical fight against Muhammad Ali, George Foreman was a high earner during his years as a pro athlete. From his single fight with Ali, Foreman earned over $5 million and went on to have an amazing boxing career. George Foreman participated in 40 consecutive fights undefeated and even went on to win an Olympic gold medal.

Foreman’s success didn’t stop after retirement. He created a wildly popular product, the George Foreman Grill, in 1994. Today, George’s grills continue to sell worldwide. He has sold over100 million to date. George Foreman’s net worth is estimated to be $300 million.

Dave Bing

An NBA legend, Dave Bing began his pro sports career with the Detroit Pistons after signing a $15,000 contract in 1966. He went on to negotiate his original contract from $15,000 to $450,000 for the nine seasons he was with the team. His athletic career ended with the Boston Celtics, having recorded a whopping 18,327 points.

His first company, Bing Steel, launched in 1980 in Detroit. His company was a success, earning him $61 million annually in just one decade. Later, he founded the Superb Manufacturing firm, a metal stamping company. He even served as the 74th mayor of Detroit from 2009 to 2013 and has a list of notable accomplishments during his tenure.

Vinnie Johnson

Looking at basketball history, Vinnie Johnson is one of the greatest sixth men. With his tactical skills and love for basketball, he helped lead the Detroit Pistons to many NBA wins. Vinnie is such a great player, famously known for sinking the shot that won them the NBA finals against Portland in the finals. This he did when the game was almost ending, with only 0.07 seconds left. He later signed a $3.2 million agreement contract until his retirement.

After he retired from basketball, he focused on entrepreneurship and founded Piston Automotive in 1995. Later rebranded as The Piston Group, Johnson continues to serve as the chairman and CEO.

Conclusion

Undoubtedly, it’s possible to achieve success in the business world after one’s sports career is over, as evidenced from what we’ve discovered from the retired athletes above. These former athletes are proof that there is life beyond sports and that a lifelong legacy is possible.

Originally published at http://jasonhanold.wordpress.com on July 5, 2021.