Financial planning is an extremely important facet of any individual’s life. And the importance of the same rises in the case of individuals who have extremely seasonal jobs, such as basketball players.
Advertisement
Seasonal isn’t exactly the term, but for basketball players, making hay while the sun shines is particularly appropriate. No NBA player knows for sure how long he shall sustain a career in the league. Naturally, working on one’s earnings to sustain oneself for the long run is vital.
Also read: James Harden Once Made 4000% Return on Incredible 2014 Investment Just 3 Years Later
There are various instances of NBA superstars struggling to manage their finances. Allen Iverson for one, and Reebok’s efforts to ensure AI doesn’t go broke arguably form the most high-profile examples.
While Iverson may have been an inspiration to all smaller point guards in the league. However, finances were somewhere he didn’t have any locus to be an inspiration at all. And Chris Paul seems to have taken that message loud and clear.
The Point God clearly understood the importance of smart investments and set himself up for generational wealth with his careful handling of money. And in a similar manner to his now teammate Kevin Durant, had a major boost from an investment in 2020.
Chris Paul invested in Hyperice which was valued at $700 million in 2020.
Paul, one of the smartest NBA players in the league, clearly extends that acumen beyond the field too. In an era where as a community, awareness regarding injuries and recoveries is on a rise, Paul identified a perfect investment opportunity.
Hyperice.
Hyperice is a company involved in creating innovative devices that aid in the recovery and mobility of muscles and joints. The brand has grown 20x in its revenue generation in just 3 years, even securing a deal with the NBA.
Paul’s investment was a hefty $48 million, at a relatively nascent stage. However, with Hyperice close to hitting the billion-dollar valuation mark, the Suns’ star is set to get a massive payout.
2020 marked a crucial year for Hyperice, with the valuation scaling up to $700 million. But it was probably then that Paul probably was certain that his investment had paid off.
Paul wasn’t alone in raking in the benefits of investment in 2020. New teammate Kevin Durant too, hit a considerable fortune in the year COVID-19 changed the face of the earth.
Kevin Durant made a $15 million payout on his investment in Postmates, in 2020.
The new superstar duo is expected to take the NBA world by storm soon. And they probably already have a common topic of discussion in their investment successes. Being stalwarts of their generation in basketball probably aids conversation too, if we were to take a guess.
Durant’s major investment was a bit far removed from sports compared to Paul’s though. Durant made his fruitful investment decision in Postmates, a logistics company. The company engaged in food delivery and local goods earned KD a $15 million payout in 2020.
Whether their common success in 2020 is a precursor for combined on-court success remains to be seen. Regardless, the Suns made the biggest splash of the season almost definitively, and the eyes of the basketball world await Phoenix.
