It is not a secret that NBA stars make millions. Their contracts, also other ventures as players make them millionaires by the midst of their career. However, their careers span is also quite short and many decide to invest a lot of their income into side businesses in order to protect their income once their careers are over.
Let’s face it, the lifestyle they live as players demands capital and it is a known thing that more than half of the players lose all their money only few years after retiring from the professional play. Many do nothing about it, however a small group of players build side businesses and thus protects their post-career income. Michael Jordan and Magic Johnson, who both build successful ventures outside of their sports careers, seem to be the inspiration to many.
One of the good examples of current NBA stars running a side business is Lebron James. Back in 2006 he created a marketing company called LRMR Marketing and has already signed some big names to his books. One of the first clients he managed to win was Ten Ginn, a colleague sportsman from the 49ers from San Francisco.
Another star taking a leap into the business world is Steve Nash, a player with two NBA Most Valuable Player Awards. Only recently he formed a capital venture company Consigliere that intends to invest money in startups and help them off the ground. But that’s not all, he also owns a line of fitness clubs, a film production company and a vitamin product label let alone his social media endavours with Apoko.
Another NBA player involved in the film industry is Baron Davis. He owns a film production company called Too Easy Entertainment and works with some top class writers on his productions. Apart from his ventures into film industry he also owns Chameleon, a music production firm.
But not all players venture into the world of entertainment. Anthony Johnson, a player with a degree in administration runs a business designing and producing stained glass doors.