Meet Junior Bridgeman - The Richest NBA Player You've Never Heard Of...
Happy new week,
The window as an athlete is pretty short and athletes can’t just rely on the money earned during their career. Those who are wise have been able to save their money but the wisest are those that have their money working for them through investments and businesses. This is the story of Junior Bridgeman, his post-NBA career journey is a very unique one. Bridgeman played in the NBA from 1975 to 1987, primarily with the Milwaukee Bucks. Although he was a solid player, his real success came off the court.
After retiring from basketball, he ventured into the business world with a keen eye for opportunities. He became a franchisee of Wendy's and eventually built a successful portfolio of fast-food restaurants. Bridgeman started with a single Wendy's franchise and over the next three decades owned 263 Wendy's locations and 123 Chili's restaurants in 20 states. His business acumen didn't stop there, he then went on to invest in other industries, including bottling and distributing Coca-Cola products.
Bridgeman never earned more than $350,000 a season in the NBA, yet managed to use that “modest salary" into a business empire that has put his estimated net worth at more than $600 million. My favourite thing about Bridgeman’s success story is that during his summer breaks he worked at Wendy’s to get a better understanding of the business and how to successfully run a franchise. Over the years, his ventures have expanded beyond fast food and beverages to include investments in real estate, automotive, and financial services.
Junior Bridgeman’s entrepreneurial spirit paid off handsomely, he is regarded as one of the wealthiest former NBA players. Other notable former NBA players are the likes Andre Iguadola who has invested in over 50 companies, including Zoom, Datadog, and Jumia, where he sits on the board of directors. Iguodala co-founded the annual Players Technology Summit, which connects athletes with major players in the tech industry. Iguodala retired in October this year, and is now working full-time on Mosaic, a new $200 million venture capital fund that he raised with his Co-founder Rudy Cline-Thomas.
Magic Johnson is also another notable former NBA player. In the late '90s, he began buying Starbucks chains, amassing 105 locations before selling them for a reported $75 million in 2010. He has now turned his attention to sports team ownership. He has ownership stakes in the Los Angeles Dodgers, the WNBA's Los Angeles Sparks, Major League Soccer's Los Angeles FC, and most recently, the Washington Commanders.
These athletes were actively thinking about their post career life during their prime. We are currently seeing this now with some of the greatest players in the league, Lebron James has a hugely successful business portfolio and so does Kevin Durant with his VC firm 35 Ventures. The window as an athlete is pretty small compared to a normal career. It is important for athletes to think about life after retirement and what that looks like.
Something interesting to watch
ncG1vNJzZmiamZy0pr7ToZinq6Ckv7W%2Fjaysm6uklrCsesKopGioX6KypsCMo6ynoZ%2BneqO%2ByJ2enqWRo3q1tMRmqaKbmJrAtQ%3D%3D