Hakeem Olajuwon didn’t stop earning money following retirement as he set aside money for real estate investments.
Hakeem Olajuwon is well known as one of the greatest centers to have ever played in the NBA. The 2x Finals MVPs is considered to be one of the most versatile players to have step foot on NBA hardwood as he could take on bigs that were larger than him in the post with his nifty footwork or take players off the dribble from near the arc.
Not to mention the fact that Hakeem Olajuwon had quite the underrated mid-range, similar to that of Patrick Ewing’s. It’s safe to say that the former number 1 overall pick was quite the dominant force when in the league and was so with a certain level of elegance.
His superstardom earned him a grand total of around $102 million over his near 20 years in the league. Adjusting for inflation, that would come around to about $164 million today.
Unlike many players of the past, Hakeem spent his money well. One of his biggest avenues through which he earned money was real estate.
How Hakeem Olajuwon earned millions through real estate.
Hakeem Olajuwon got into the real estate game while still in his prime. The mid to late 90s and early 2000s saw the Rockets/ Raptors centers set aside his salary for future use in investing in real estate. His faith in Islam actually proved to be beneficial here he is not allowed to take loans from anybody, according to his faith.
This led to some expensive purchases but it always meant he was not indebted to anybody, something which isn’t all too common in the real estate industry. As 2006 came around, Hakeem had already amassed a whopping total of over $100 million merely through real estate investments.
Olajuwon claimed that he preferred to deal around Houston as he had ‘home-court advantage’ there. According to David L Cook, executive vice president of Cushman and Wakefield, Hakeem Olajuwon “buys high and sells higher.” Another executive said, “He buys expensive user land that is already fully developed”.