Junior Bridgeman was traded for Kareem Abdul-Jabbar on draft night. His story could have ended early; instead, he became a multi-millionaire!
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NBA players are spendthrifts and while examples of Shaquille O’Neal and Magic Johnson defy the norm, the pioneer came long before them. He was a part of the 1975 NBA Draft. Any guesses?
1) Ulysses Lee “Junior” Bridgeman was born and raised in Chicago and was selected in the 1st round of the 1975 NBA Draft by the LA Lakers.
But his time in LA didn’t last long.
Bridgeman was immediately traded to Milwaukee as part of a package to bring Kareem Abdul Jabbar to LA. pic.twitter.com/HbG1Ba5TQ2
— Joe Pompliano (@JoePompliano) August 31, 2022
Well, this is a hard one for most people but Junior Bridgeman was the prototype NBA investor and his journey started well before Magic Johnson or Shaquille O’Neal.
While his accolades and craft as a player weren’t supernatural by any means, he did have a decent career. But what he did off the court is perhaps his greatest achievement. And rightfully so.
3) But NBA paychecks weren’t what they are today.
Many athletes made more money off endorsements than they did through their contracts.
For example, Junior Bridgeman earned no more than $350,000 in a single season.
But this is where it gets interesting.
— Joe Pompliano (@JoePompliano) August 31, 2022
Junior didn’t make much money during his time in the NBA, his annual salary never exceeded $350,000 and he knew it wouldn’t last. So he decided to invest.
Junior Bridgeman, gets traded for Kareem Abdul-Jabbar, has a 12-year career, and is now worth over $600 million!
Bridgeman’s career might not be as flattering as a lot of other players but reckon his fortune makes up for it. Yes, the former Milwaukee Bucks player is worth well over $600,000,000!
How did he get here? By opening a few Wendy’s franchises. Once he saw the potential, he went all-in. 360 franchises and 16 states later, he was given a bigger opportunity.
5) And after seeing initial success, Bridgeman doubled down.
He invested in more than 160 locations over the next 20+ years and eventually built a portfolio of 360 fast-food restaurants in 16 states.
But then he set his sights on an even bigger opportunity.
— Joe Pompliano (@JoePompliano) August 31, 2022
Coca-Cola gave him the opportunity to sell off the franchise in exchange for a bottling and distribution agreement in various states. Enamored by the offer and the repertoire for Bridgeman, he jumped on it and even took additional rights in Canada.
7) The Coca-Cola deal was a dream for Bridgeman, who had been fascinated with the brand since his playing days, and he has since acquired additional bottling rights within Canada.
All in, Bridgeman has built up an estimated net worth of $600 million — not bad for a $350k salary.
— Joe Pompliano (@JoePompliano) August 31, 2022
Players like Bridgeman are the ideal example of what you should do with your money. Saving it and investing it in the right place is the way to go. Spending it while you are a millionaire is a recipe for disaster.
Fun Fact: Bridgeman is currently richer than Kareem Abdul-Jabbar by at least 30 times!
Also read: A 41-year-old Kareem Abdul-Jabbar made 6 skyhooks for his 26 points in Game 5 of the 1988 NBA Finals
