With the NBA player’s resources at his disposal, KEVIN Durant might quickly establish a massive business empire and reach billionaire status.
With over $400 million in career earnings to far, the forward for the Phoenix Suns is well on his way to being one of the few sportsmen in the professional ranks to reach the billion dollar mark.
By completing this, Durant would join an elite group of athletes that included legends like Magic Johnson, LeBron James, Tiger Woods, and Michael Jordan.
The big forward has numerous lucrative endorsement contracts, one of which is a lifetime agreement he signed with Nike earlier this year.
This agreement follows a startling $300 million, ten-year deal that Nike signed in 2014.
Other firms that have sponsorship partnerships include Google, Alaska Air Group, Beats by Dre, American Family Insurance, BBVA, Sparkling Ice, Panini, NBA 2K, Gatorade, Sonic Drive-in, Skullcandy, and Sprint.
The big man made a difficult move from the Oklahoma City Thunder to the Golden State Warriors in 2016, but first cemented his legacy in NBA history with two rings and two Finals MVP titles.
He plunged fully into the tech investment scene while residing in the Bay Area.
Durant made friends with several prominent personalities in Silicon Valley, such as Marc Andreessen and Ben Horowitz, as well as executives from Apple and Google.
In 2016, Durant founded Thirty Five Ventures, his investing company, with longtime manager Rich Kleiman.
The business has since invested in numerous startups and even a few professional sports teams.
Among the companies Durant has invested in are Athletes Unlimited, Major League Pickleball, Gotham FC (the NWSL champions), Athletes Unlimited, and the Philadelphia Union (MLS team).
In addition to the $1.5 billion cryptocurrency business, the other investments include Yoshi, Coinbase, Rubrik, Postmates, Whoop, Robinhood, and Weedmaps.
Most investments have been made in the range of $200,000 to $1 million, and the value of some of these transactions has grown exponentially.
Durant is well-known in the content industry in addition to his work with the sports and culture media business Boardroom and his endorsement of multiple basketball-themed films.
Regarding his approach to business, Durant told ESPN, “You see the business of yourself first.”
You know exactly who you want to be, what stories you want to tell, and how you want to use your resources to make things happen.
“At first, I tried to concentrate on my own business.
“Then, knowing that you can empower people to help push your vision, I hired guys like [business partner] Rich [Kleiman], my financial guys, my foundation people that I’ve hired.”
Durant claims that he is now concentrating less on endorsement deals and more on business investments.
He goes on, “There’s nothing wrong with them, but time is what matters most to me.”
“Plus, promoting a product takes up a lot of your time.”
The ultimate goal for Durant is to buy an NBA team.
If only I had the money for it. “It’s absurd,” he declares.
Probably the most difficult part will be handling the finances.
I have participated in two exceptional groups. I am well familiar with both the players and the game.
Additionally, I think that these NBA teams have a significant influence on people’s lives. Towns are moved. I think that sounds amazing.
“I would love to be involved in every facet of owning a team, from the coaching to the team-building to the financial and marketing side.”