Kevin Durant has established himself as one of basketball’s most potent scorers. He’s a 7’0″ forward who can shoot over most defenders in the NBA or go around the few players who happen to be taller than he is. But he is not just a basketball player; he’s also an astute businessman who has made some exceptionally wise investments over the last few years.
How is Kevin Durant Conquering the Business World?
Kevin Durant’s fortune is built on three income sources – his NBA salary, endorsements, and investments.
Durant’s elite play has earned him one of the highest contracts in the NBA at $192,515,907 for four years with the Brooklyn Nets. He’s making $47,654,833 just in the 2023 season alone and will earn even more in the coming years.
Durant’s earnings from the basketball court don’t end with just the salary. He has endorsement deals that provide him with a nice boost in income. For example, his shoe deal with Nike is one of the sportswear giant’s biggest endorsement deals in recent years.
Durant also earns away from basketball as he has a knack for investments. Kevin Durant puts his money into tech startups, media companies, and venture capital funds.
Because of his wise investments over the years, it is believed that most of Durant’s income beyond his basketball earnings comes from his investments.
What Businesses Does Kevin Durant Own?
With so much money to invest, Durant has come to own quite a few businesses over the years. In 2016, Durant and his business manager founded Thirty-Five Ventures, a hybrid entertainment, media, and venture capital firm that serves as the primary vehicle for the player’s business investments. To this day, Durant holds a controlling stake in the company.
So, what companies does Kevin Durant own?
For starters, he bought an eSports organization called Andbox. He’s also got his fingers into other investments such as:
One of Durant’s earliest and most lucrative investments came in the form of Acorns, an investment platform that lets people buy stocks with spare change. The company has gained traction over the years and has skyrocketed during the COVID-19 lockdowns as people tried to find means of earning from their homes.
Robinhood is an online investment and trading platform that allows users to trade stocks, ETFs, options, and cryptos without having to pay any commissions or fees. It was founded in 2013 by two Stanford graduates, Baiju Bhatt and Vlad Tenev, who wanted to make the stock market accessible to everyone regardless of their financial background. Kevin Durant invested in the startup in 2017 and has since become one of its more high-profile investors.
Durant also backed Skydio in 2017, a drone maker that has become one of the most valuable startups in the industry. Kevin Durant’s early investments have helped propel Skydio to success, and the company is now valued at more than $1 billion.
Postmates (as an investor)
If there’s one deal that has cemented Durant’s reputation as a savvy investor, it was the Postmates investment back in 2015. It’s one of the pioneering food delivery services founded in 2011.
Kevin Durant has reportedly made $15 million from a $1 million investment via the company’s acquisition by Uber for more than $2 billion.
Mitchell & Ness
Kevin’s investment in Mitchell & Ness also deserves mention, as it has been quite successful. The sports apparel maker is now worth around $500 million, and Kevin Durant was able to purchase shares at a discounted rate in 2018, quickly turning into a very profitable investment.
Durant’s eye for business was fully displayed when he invested in Overtime in the Series A funding stage. It started as a popular Instagram account that became a sports media and management company that creates, organizes, and publishes content on sports leagues for the youth.
The company has become very popular recently, and Kevin Durant’s presence has helped propel the brand. Since Durant entered the scene, many other NBA players and personalities followed, including Devin Booker, Stephen Curry, and even the late NBA Commissioner David Stern. One of the most recent high-profile investors includes Jeff Bezos and Counterpoint Global.
He’s recently purchased the MLS team Philadelphia Union and plans on bringing them to new heights with his guidance and leadership. As if that doesn’t have enough clout and wow-factor for this superstar athlete, he has seized yet another opportunity; Kevin Durant has acquired a pickleball expansion team.
When Did Kevin Durant Start Investing in Business Ventures?
One of his first significant investments was in Postmates in 2015, even before Kevin Durant’s Thirty-Five Ventures officially launched. That investment would be one of Durant’s biggest investment wins as it turned his $1 million initial investment into $15 million in just seven years.
Over the years, Durant has built an investment portfolio comprising over 40 companies. He typically comes in early at the Seed Round and Series A stages, so it’s easy to say that Durant invests in value rather than chasing quick returns.
What is Thirty-Five Ventures?
Durant became a full-pledged investor when he founded Thirty-Five Ventures in 2016, as that’s when he truly started writing large checks for early-stage startups.
However, Thirty-Five Ventures is not just an investment company. It’s also an entertainment and media business producing amazing content and programs.
Under Durant’s leadership, Thirty-Five Ventures has launched The Boardroom, a media network that produces content on sports, business, and the ever-looming intersection between the two. Another recent project from Thirty-Five Ventures, Two Distant Strangers, even won an Academy Award for Best Live-Action Short. It’s a social commentary that aims to bring attention to police brutality in America.
What Companies Does Kevin Durant Endorse?
Endorsements make up only a tiny portion of Kevin Durant’s business empire. But, over the years, he’s cultivated a brand image that’s distinct and marketable. As a result, he’s done some very lucrative deals with some of the biggest companies in the world – including Nike, Google, and NBA 2K.
Kevin Durant also endorses Gatorade, Beats by Dre headphones, American Family Insurance, BBVA Compass Bank, and more. His endorsement deals are estimated to bring in an additional $40 million per year on top of his NBA salary.
The sports apparel giant has been Kevin’s main sponsor since he entered the league in 2007. Durant signed a seven-year $60 million deal with the brand as a young player. However, after earning an MVP award in 2014, he penned a 10-year, $300 million deal that makes up much of his wealth outside his NBA earnings.
Coinbase (Thirty-Five Ventures Media Partnership)
With the rise of cryptocurrencies, Durant was quick to hop on the bandwagon by endorsing one of the industry’s leading entities, Coinbase. The deal is believed to be worth millions of dollars, and Kevin has been very vocal in his support of the company, even hosting their products on his own website.
Postmates (as an endorser)
When Durant hopped on as an investor in Postmates, he also lent the company some of his star power by headlining a marketing campaign for the brand. In the campaign, Durant served as a Postmates delivery guy and made a few deliveries for the company in the process. It was a very effective campaign that led to a lot of customers signing up for the service.
Wrapping Things Up: How Many Businesses Does Kevin Durant Own?
It’s been quite the journey for Kevin Durant, going from NBA superstar to business mogul. He has taken his hard-earned money and reinvested it into smart ventures that will only keep increasing his wealth even when he’s no longer lacing up his basketball shoes.
In a lot of ways, Kevin Durant’s play style mirrors his investing strategies. He’s always looking for scoring opportunities for himself while keeping his head on a swivel and trying to make the right play to give his team a win. With Kevin Durant’s business investments, he’s done exactly the same.
So far in his investment journey, everything that Durant has touched has proven to be a winner. Kevin Durant has about 80 companies and brands that he is either a part owner, an endorser, or both. He’s definitely accomplished a lot in his 12 years of investing, and it’ll be interesting to see what he does next. With Kevin Durant at the helm, you can expect nothing but success!
If you’re interested in learning Kevin Durant’s story, check out this basketball biography book.
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