After using his NBA wealth to build a vast commercial empire, Kevin Durant is sure to become a billionaire.
The forward for the Phoenix Suns is poised to become just the fifth professional athlete to attain billionaire status, having already made nearly $400 million in his career.
Kevin Durant has earned almost $400 million in his NBA career
He has also developed an incredible business empire
Durant with business partner Rich Kleiman
Durant is an investor MLS team Philadelphia Union
In reaching this elite position, Durant would follow in the footsteps of luminaries like Magic Johnson, Michael Jordan, LeBron James, and Tiger Woods.
The power forward has several rich endorsement contracts, one of which he secured a unique lifetime deal with earlier this year, Nike.
The arrangement comes after an amazing $300 million, ten-year partnership with Nike that was announced in 2014.
Google, Alaska Air Group, Beats by Dre, American Family Insurance, BBVA, Sparkling Ice, Panini, NBA 2K, Gatorade, Sonic Drive-in, Skullcandy, and Sprint are among the other companies with sponsorship agreements.
The big forward solidified his NBA reputation in 2016 by moving controversially from the Oklahoma City Thunder to the Golden State Warriors, where he won two championship rings and two MVP titles in the Finals.
He immersed himself in the technology investment industry throughout his stay in the Bay Area.
Durant cultivated connections with Silicon Valley heavyweights Marc Andreessen and Ben Horowitz, as well as executives from Google and Apple.
Additionally, Durant and his longtime manager, Rich Kleiman established Thirty-Five Ventures in 2016.
Since then, the company has made investments in several early-stage businesses and a number of professional sports clubs.
Durant owns stakes in the Premier Lacrosse League, Major League Pickleball, Athletes Unlimited, Philadelphia Union, and Gotham FC, the NWSL winners.
Coinbase, a $1.5 billion cryptocurrency company, Yoshi, Rubrik, Postmates, Whoop, Robinhood, and Weedmaps are among the other investments.
The majority of the investments have been made between $250,000 and $1 million, and the value of many of the agreements has increased dramatically.
With his support of several basketball-related documentaries and his involvement in the sports and culture media company Boardroom, Durant is also a significant player in the content market.
Regarding his business approach, Durant told ESPN, “You see the business of yourself first.”
You are aware of the type of persona you wish to project, the narratives you wish to convey, and the methods you want to employ in order to propel everything forward.
“I thus made an effort to focus on my own business first.
“Then I hired guys like [business partner] Rich [Kleiman], my financial guys, my foundation people that I’ve hired, just knowing that you can empower people to help push your vision.”
According to Durant, he is now investing more of his time on businesses rather than signing endorsement deals.
“There’s nothing wrong with them, but time is the most important thing to me,” he states.
“And when you endorse a product, a lot of your time is taken away.”
Durant’s main ambition is to eventually own an NBA team.
“If only I had the funds.” It’s absurd,” he remarks.
The financial aspect will undoubtedly prove to be the most challenging.
“I’ve worked for two outstanding companies. I am very familiar with both the game and the participants.
“And these NBA teams, in my opinion, just transform lives. Cities are switched. To do that would be wonderful.
“All the aspects of owning a team, I would love to be involved in – from the financial and marketing side to the team-building to the camaraderie to the coaching.”