Having money is good. Knowing what to do with it is better. NBA athletes are paid millions each season and yet a third of them ended up broke at the end of their career not so long ago. But players are better and better advised in this area. And some of them do not hesitate to learn about and learn about the worlds of finance or technology to make the most of their colossal sums. Kevin Durant is part of.
According to the journalist Andrew Petcash, the Brooklyn Nets player is approaching the billion mark. And his salaries are only the very small part of the financial empire mounted by KD. Thread.
7. Dapper Labs
KD invested in Dapper Labs at a $2.6B valuation before NFT’s blew up.
You know @dapperlabs as the maker of NBA Top Shot.
They recently raised a $250M Series D valuing it at $7.6B.
— Andrew Petcash (@AndrewPetcash) March 3, 2022
5. Overtime
KD invested in their 2018 $9.5M Series A.
Over the last 4 years their valuation has skyrocketed to $250M.
The @overtime basketball league is paying young hoopers $100k+ a year.
— Andrew Petcash (@AndrewPetcash) March 3, 2022
3. Postmates
KD invested $1M into the delivery startup in 2016.
Uber ended up acquiring @Postmates for $2.6B, earning Durant a $15M payday.
As part of a marketing campaign, he personally delivered shoes around NYC. pic.twitter.com/l5XEkJY3vl
— Andrew Petcash (@AndrewPetcash) March 3, 2022
1. Coinbase
In 2017, KD decided to invest in @coinbase.
They had a $100B IPO last year which netted him a 61x return.
With most of his checks being around $1M it’s reasonable to assume he made $61M. pic.twitter.com/lGWPHsv2Jp
— Andrew Petcash (@AndrewPetcash) March 3, 2022
What stands out is the foresight of Kevin Durant, his partner Rich Kleiman and their financial advisors. He smelled some good investments like Robinhood or Coinhouse, before their value skyrocketed. Playing in San Francisco and New York also helped. Whatever one may say, big markets still favor opportunities. Well, on the other hand, not sure that he invested in the best teammate by choosing Kyrie Irving at the Brooklyn Nets.
