Five of the Richest Retired Athletes
By
Blake Roberts
Founder & Editor in Chief Updated: 03 July 2023
Blake Roberts Founder & Editor in Chief
Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.
- Richest Retired Athletes in the World
- Forbes Richest Retired Athletes: #1 is Michael Jordan
- Magic Johnson’s Business Empire
- David Beckham’s Brand Ventures
- Shaquille O’Neal’s Investment Portfolio
- Arnold Palmer’s Global Impact
- Frequently Asked Questions
In today’s post, we’re going to look at who some of the richest retired athletes are, with a primary focus on those who made fortunes outside their sporting career. Whether it’s wise investments, lucrative business deals, or building businesses from the ground up, we’ll look at pro athletes who managed to get rich outside of sports.
Richest Retired Athletes in the World
In this article, we’ll discuss the richest retired athletes in the world, including the likes of Michael Jordan, Magic Johnson, David Beckham, Shaquille O’Neal, and Arnold Palmer. These pro athletes and superstars have managed to not just become global sports sensations, but have also succeeded in the world of business, building multi-million or even billion-dollar fortunes in addition to their athletic wealth.
We’ve based this list on Forbes’ list, which looks at many aspects of an athlete’s career when assessing wealth, including money earned while playing, earnings from endorsements, and money earned through business interests.
Forbes Richest Retired Athletes: #1 is Michael Jordan
Michael Jordan – the name itself is automatically associated with greatness. While his iconic status as a basketball player is well-known, Jordan’s business ventures have been equally impressive. His partnership with Nike led to the creation of the massively successful Air Jordan brand, which revolutionized the sneaker industry and turned Jordan into even more of a global icon.
However, it’s not just his sneakers that have led to his immense wealth. The ex-NBA superstar holds a majority stake in the Charlotte Hornets, and this alone has significantly contributed to his estimated net worth of over $2 billion.
Like many of the other names we’ll be covering in today’s post, Jordan has also given a lot of money to charities, and is frequently involved in philanthropic activities, supporting causes like education, healthcare, and children’s welfare. The Michael Jordan Family Medical Clinic, for example, provides vital services to underprivileged communities in North Carolina.
While Jordan may no longer be making appearances on the court, there’s still great NBA action going on, and if you’re someone who likes to have a bet, you’ll want to make sure you don’t miss our hand-picked list of US-friendly sportsbooks. All these sites are trustworthy, and they allow you to bet on live NBA games from the comfort of your home.
Magic Johnson’s Business Empire
Magic Johnson, a former NBA superstar, is more than just a basketball legend; he’s a successful entrepreneur with an incredible track record of success and a huge business empire.
After retiring from sports, Johnson made a speedy transition into the business world. He has several different business interests, including investments in real estate and entertainment, plus he even owns stakes in sports franchises like the LA Dodgers and the LA Sparks.
However, it’s his signature company – Magic Johnson Enterprises – that he’s perhaps best known for, and it’s currently valued at over a billion dollars. The company is involved with several different industries, including entertainment, real estate, and sports. MJE’s mission is to “empower urban communities by providing investment opportunities and creating jobs.”
The company has been highly successful and continues to grow and is seen by many as a perfect example of how the world’s wealthiest athletes should be giving back to society. Here are a few of the industries MJE currently works in:
| Industry | Subsidiaries |
|---|---|
| Entertainment | Aspire TV, Magic Johnson Theatres |
| Real Estate | Magic Johnson Bridgescape Centers, Equity Residential |
| Sports | Los Angeles Lakers, Los Angeles Dodgers, LAFC, WNBA Los Angeles Sparks |
David Beckham’s Brand Ventures
David Beckham, one of the world’s most well-known and admired soccer stars, retired from playing professionally in 2013, but that hasn’t stopped him from moving forward in life, and he’s now considered to be a highly successful businessman. Despite earning a reported $800 million during his time as a soccer player, Beckham wasn’t satisfied with that, and his portfolio has only grown since his retirement.
It all started just a year after his retirement, when he formed his own company called DB Ventures. The business was designed to handle pretty much all his post-football career endeavors, including endorsement deals with Adidas, the Tudor watch brand, and his own brand of whiskey, Haig Club.
According to publicly available documents from the UK’s Companies House, Beckham was paid dividends of $12 million in 2016, $22 million in 2017, $13 million in 2018, and $17 million in 2019.
In 2018, he launched the MLA expansion team Inter Miami, and he purchased this team for a reported $25 million, a deal that was made when he originally signed for MLS’ LA Galaxy back in 2008. Unfortunately, his team has failed to finish higher than 19th, despite signing some high-profile players like Gonzalo Higuaín.
The spotlight shone on Beckham once again in 2022 when he was widely criticized for his association with the 2022 Qatar World Cup. Signing a 10-year deal, Beckham is set to earn around $177 million, which has caused outrage among human rights organizations who point out the country’s record of human rights violations, especially in terms of the LGBT community.
Shaquille O’Neal’s Investment Portfolio
Shaquille O’Neal, more commonly known as Shaq, is not just a retired NBA superstar, but also a successful businessman and investor.
Shaq has used his fame and fortune to build a huge investment portfolio that includes everything from tech startups and restaurants to real estate and clothing brands. Of course, his loveable nature and iconic image have helped his businesses, but he’s also put in a lot of hard work – as well as fronting a lot of his own cash.
Interestingly, Shaq made some smart investments in companies like Google and Apple, which were monumentally successful for him. While it’s hard to get an exact figure on his net worth today, he’s among the richest retired athletes in the world, with Forbes estimating his wealth to be in the region of $450 million.
Like most of the Forbes richest retired athletes, Shaq also does a lot of charity work, with his main venture being The Shaquille O’Neal Foundation. In their own words, the foundation “creates pathways for underserved youth to help them achieve their full potential. The Foundation works to instill hope and bring about change in communities, collectively shaping a brighter future for our children.”
Arnold Palmer’s Global Impact
Arnold Palmer, also known as “The King,” was a legendary golfer who revolutionized the sport during his career and is another name on the Forbes richest retired athletes list. Born in 1929, Palmer won a staggering 62 PGA Tour titles, including 7 major championships: four Masters, two British Opens, and one US Open.
His personality and incredible golfing skills managed to capture the attention of fans from all over the world, and he’s widely credited with helping to popularize golf during his prime in the 1960s.
While Palmer made a small fortune playing golf, he was also a highly successful businessman, hence his inclusion on our list of wealthy retired athletes. After retiring, Palmer built a lucrative brand, named Arnold Palmer Enterprises. This brand is associated with a range of products and services, including golf course design, apparel, and even beverages.
The most successful of his business ventures was his iconic drink, which is a mixture of iced tea and lemonade. Before his death, Palmer was rumored to be worth in the region of $700 million.
