2 Years Since His Retirement, Carmelo Anthony Still Earns $6 Million From His Endorsements Alone

With the way the NBA Collective Bargaining Agreement is shaped, NBA stars making big money on the court comes as no surprise. Many of them have also mastered the art of making it off the court. Several NBA athletes boast net worths in hundreds of millions of dollars, some even surpassing the billion-dollar mark. Carmelo Anthony may not be the first name that comes to mind in this discussion, but he’s quietly built a strong business portfolio.

Though he hasn’t played in the NBA since 2022, and officially announced his retirement in 2023, Melo is still making big bucks from endorsement deals. In addition to that, his shrewd investments have kept his wealth growing, proving that his business game is just as strong as his basketball legacy.

Usually, when players retire, their brand value goes down as they are no longer a frequent face on TV.  This makes the brands less likely to continue their partnership as they won’t get similar returns. However, Melo has successfully managed to keep his brand value intact despite hanging up his boots two years ago.

Andrew Petcash, founder of Profluence Sports, recently posted a thread on X, highlighting some of Melo’s smartest business decisions and how he makes money after retirement. Melo, who was the first Jordan athlete, makes around $6 million annually from endorsements alone. Melo is associated with brands like Panini, Isotonix, Footlocker, Powercoco, and Haute Time.

While the $6 million coming in from endorsements is impressive, this isn’t his biggest or the only source of income post-retirement. Melo has played the long game very well and has established several businesses for the money to keep coming in. Petcash provided a deep analysis in his X thread and it’s worth taking a look.

Carmelo Anthony’s businesses and investments

Melo doesn’t just want to be rich through investments, he wants to be an owner. The 10-time All-Star has his venture firm, Melo7 Tech Partners, a fashion label, STAYME7O, a media production company, Creative 7, and a wine brand, The Seventh Estate.

He has invested $5 million in two restaurants based in New York City, Nobody’s Pizza and Ainsworth. The NBA legend plans to expand his restaurant business by taking it to 20-30 different locations. Melo was also an early investor in Overtime and is currently a board member. When he first invested in Overtime, they were valued at $100 million. Their current valuation is $500 million.

Petcash also reported that Melo “provided a $500K angel check to the phone accessory company,” Mophie in 2007. Nine years later, Zagg acquired them for $100 million. Melo’s estimated return from his investment is around 800-1000%.

The NBA legend also believes in giving back to the community. He is a philanthropist who has donated millions of dollars to several organizations that work for the betterment of young kids by looking after their education, health, and ambitions.