The career of an NBA player doesn’t typically last very long. The average player only spends 4.5 years in the league. That is a very small portion of a person’s life. Although the income is significantly greater than the average person’s, the lack of security could lead many down financial hardships. Hakeem Olajuwon didn’t let himself fall victim to that outcome. Instead, he found a way to earn more money post-retirement than he did from his cumulative NBA salaries.
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Very few big men are better than Olajuwon. The Rockets legend was sensational throughout his 20-year NBA career but wasn’t as marketable as some of his contemporaries. He didn’t have brand endorsements to cover costs following his playing days.
Olajuwon had only earned $97,356,426 in his career. For context on how much the league has changed, Jazz forward John Collins’ current contract is worth $125 million. Stars of the past don’t have the same financial luxury as current players.
As a result, Olajuwon began to learn what he could in the world of real estate. He used the money he had saved to purchase expensive land. He then started to flip his investments.
In a feature for the New York Times, Olajuwon revealed what made him lean toward real estate.
“I like real estate because, you know, it’s real,” Olajuwon said. “The first thing I’d notice was the architecture. I like clean lines.”
Only four years following his retirement, Olajuwon had earned an estimated $100 million in profit. All of his transactions came in the Houston area, where he had spent the majority of his NBA career.
That financial figure was from 2006. It is only safe to assume he has reached even greater heights nearly 20 years later.
Olajuwon is a savvy businessman
Countless NBA legends, unfortunately, go broke following their NBA career. The lifestyle of a celebrity is hard to maintain, considering how short NBA careers last. Olajuwon made it a point of emphasis not to fall down that path once he stepped away from the game.
Olajuwon has paved the way for many athletes after him to prioritize the understanding of smart financial investments. His business ventures are a perfect example of that understanding.
Hakeem launched the DR34M Mansion, which was an ambitious project. He sought to create a property that could serve as a venue for many events, such as weddings.
One of his major passions resides in sharing the game of basketball with the next generation. Olajuwon hosts multiple basketball camps throughout the year. The most well-known being “Hakeem Olajuwon’s Big Man Camp.”
The two-time NBA champion’s activity in business is an exemplary demonstration of how proactive players should be post-retirement.
