Athletes like Oscar De La Hoya, or Lebron James have become household names. They pull in millions of dollar each year. However, it’s not just sport which helps them earn money, their entrepreneurship and endorsements turn them from superstar athletes to outstanding businessmen in the business world.
Venus Williams is one of the greatest women’s tennis players of all time. She has gained 43 career singles titles including seven Grand Slam singles titles and five Wimbledon singles titles. She has won one Olympic gold medal in singles and two medals in women’s doubles.
Williams is the CEO of her interior design firm “V Starr Interiors” which designed the set of the Tavis Smiley Show on PBS. In 2007, she launched her own fashion line EleVen.
She earned $40 million thanks to a five-year endorsement contract with Reebok in 2001.
Dave Bing was named as one of the NBA's 50 Greatest Players of all time. Over nine seasons at the Detroit Pistons, his salary rose to $450,000 from $15,000. He was awarded the Schick Achievement Award for his work after his NBA career.
Bing opened Bing Steel in 1980, with $80,000 of his own money and $250,000 in loans. Over five years, he expanded to two plants from a rented warehouse and employed 63 employees. The steel company pulled in $40 million. Within 10 years, his steel mill became the 10th largest African America-owned industrial company in America.
Dave Bing is a businessman, the mayor of Detroit, Michigan, and former Detroit Pistons player.
Tony Hawk, an American professional skateboarder, has made his appearances in over 100 pro contests for over 17 years. He was the winner of 73 out of 100 pro contests. This “hyperactive” child is widely considered as one of the most influential pioneers of modern vertical skateboarding.
He skates for Lakai Limited Footwear. In addition, he owns a large skateboarding company besides endorsements with Activision, Infospace, Adio shoes, Six Flags, Kohl’s, Jeep and Sirius Satellite Radio. In 2008, he pulled in $12 million.
George Foreman is credited as one of the hardest hitters in boxing history. His most notable fight was "The Rumble in the Jungle" in Kinshasa, Zaire in 1974. The holder of the gold medal in the 1968 Olympic Games won 40 straight fights. Ring magazine named Foreman in its list of "100 greatest punchers of all time".
He was a spokesperson for Russell Hobbs Inc.’s fat-reducing grill. The George Foreman grill has resulted in sales of more than 100 million units since its debut. Foreman also earned $137 million from the endorsement with Salton Inc. Foreman launched his own clothing line and cleaning product line.
George Foreman is a successful businessman.
Superstar Athletes to Outstanding Businessmen (Part 2)