Take A Look At NBA Star Kevin Durant’s Business Empire

Durant signed a four-year, $164 million contract with the Brooklyn Nets in 2019 after three years with the Golden State Warriors. In February 2023, he was dealt to the Phoenix Suns. Off the court, the 13-time All-Star earns more than $40 million each year, with recent endorsement deals with Coinbase, NBA Top Shot, and Weedmaps.

Kevin Durant has a remarkable resume on the basketball court, having won the NBA Championship twice, being voted NBA Finals MVP in both of those championship campaigns, and being a 13-time NBA All-Star. He was also the second-overall choice in the 2007 NBA Draft, trailing only Greg Oden (which Portland definitely hopes they could change).

Durant is currently one of the NBA’s highest-paid players, with hefty endorsement deals with businesses like as Gatorade, Degree, and NIKE, Inc. (NYSE:NKE). Durant started collaborated with Nike during his rookie season in 2007, and he has since launched 15 pairs of sneakers for the company, with a 16th set on the way.

Through his business 35V, he has invested in over 80 firms. He is also the founder of the media company Boardroom and a producer on “Two Distant Strangers,” which won an Oscar in 2021.Durant bought a stake in Major League Soccer’s Philadelphia Union in 2020. He also bought shares in Gotham FC of the NWSL and a Major League Pickleball team in 2022.

Durant has a net worth of more than $200 million as a result of his salary and sponsorships, making him one of the wealthiest black Americans. Check out Michael Jordan’s article, 10 Richest Black Americans and Their Stock Picks, for a look at some of the top investments and endorsements that other affluent black Americans have.

Durant has proved himself to be a clever entrepreneur with an eye for opportunity, from investing in digital firms to creating his own media company. We’ll look at Durant’s commercial interests, how he got started, and what made his empire so successful in this post.

Postmates, a meal delivery business, was one of his most significant investments. Durant reportedly committed over $1 million in the new firm in 2016, according to an early Forbes piece. This summer, Uber got into talks to acquire Postmates for an estimated $2.6 billion. Durant’s ownership would be worth roughly $15 million as a consequence.

But it just includes his contracts from his time in the NBA. Durant has also become one of the top superstars when it comes to investing in the business sector over that same period. Let’s look at how Durant has prospered outside of the game of basketball.

Take A Look At NBA Star Kevin Durant’s Business Empire

Investments

Kevin Durant is a savvy entrepreneur. He, like many other great NBA players, does not devote his whole attention to basketball since he recognizes that life will continue when he retires from the league.

Durant has made good business decisions, which has contributed significantly to his net worth of $200 million as of 2023. Durant has made a total of $350,297,591 throughout his 16-year NBA career.

Now that you know which businesses have backed Durant and how much he has earned over his NBA career, it’s time to take a look at KD’s financial portfolio.

Dapper Labs 

Kevin Durant’s largest investment is NBA Top Shot maker Dapper Labs, which was valued at $7.6 billion after a capital raising in 2021. In May 2022, it raised an additional $725 million for community expansion efforts. The company’s NFT-based basketball trading cards and accessories had a tremendous sales increase in 2021, with sales exceeding $200 million in both February and March of that year. However, sales and buyers on the site have subsequently plummeted, with sales falling to $2.3 million in May 2023, and unique buyers plummeting to less than 8,800 from over 35,000 two years earlier.

Endorsements

Kevin Durant is without a doubt one of the top players in NBA history, not just in today’s league. Durant has two NBA titles, two NBA Finals MVPs, 13 NBA All-Stars, the 2008 NBA Rookie of the Year, and the 2014 NBA Most Valuable Player.

It’s reasonable to say the 34-year-old has accomplished a great deal in his life. However, his achievement is not limited to basketball. Durant, in fact, has made a name for himself as a great businessman.

– Nike

-Gatorade

– Degree

– Beats

– Coinbase

– 2k Sports

-Google

Durant is allegedly making roughly $45 million from his sponsorships, with Nike being his largest sponsor, paying him $300 million. Oh, and it’s said Nike also offered him a retirement package on top of the  $300 million.

OpenSea 

OpenSea, a blockchain business, raised an astonishing $13.3 billion in January 2022, up from $1.5 billion half a year earlier, with investors ranging from Ashton Kutcher to Philippe Laffont’s Coatue Management. The NFT marketplace operator handled 1.6 million transactions worth $2.4 billion in the month preceding its most recent capital round.

Thirty-Five Ventures

To begin, consider Thirty-Five Ventures, a venture capital firm created by Durant and his business partner Rich Kleiman. This firm invests in early-stage and start-up businesses.

Thirty-Five Ventures has invested in 62 firms so far, and we don’t expect that to change anytime soon. Durant has genuinely established something that will continue to generate revenue long after he leaves the NBA.

Coinbase

Durant and his business partner, Rich Kleiman, invested in Coinbase, a $1.6 billion publicly listed cryptocurrency corporation. KD and his Thirty-Five Ventures have ambitious goals that go beyond simply investing money.

Durant’s startup intends to produce NFTs as well as educate Coinbase users on NFTs. Durant’s move is unquestionably MVP-worthy.

Coinbase was worth $100 billion in 2021. This is a huge boost in value, and it will only help Durant’s net worth grow more.

Skydio

Skydio, a drone maker, earned an additional $230 million in Series E fundraising earlier this year, bringing its worth to $2.2 billion. Skydio, which has expanded 30x in the last three years, intends to utilize the funds obtained this year to construct a new production factory in Hayward, California, which will increase its capacity tenfold.

Skydio has seen enormous demand from government organizations for its autonomous drones, with its drones being employed by over 200 safety agencies across the United States.

The Philadelphia Union of Major League Soccer

Durant owns a stake in the Philadelphia Union of Major League Soccer. He bought a 5% share in 2020, with the option to buy an additional 5% thereafter.

“I’m thrilled to be working with the Philadelphia Union for many years to come.” “My team and I had an instant connection with the Union coaching staff and leadership, as well as the team’s story,” Durant added. “Away from the field, I’m excited to work in the Chester and Philadelphia communities and make an impact in the same way that the KDCF has in my hometown of Prince George’s County.”

NWSL’s NJ/NY Gotham FC

Durant’s investment in the Philadelphia Union is not his only professional squad. He has also acquired ownership of a National Women’s Soccer League franchise.

Durant acquired an undetermined amount of the team in 2022 this time. With Thirty-Five Ventures, Durant is attempting to construct a sports empire.

But, believe it or not, this is not the last sports team in which Durant will invest. In reality, Durant would buy a sports team from one of his NBA rivals.

Postmates

Kevin Durant is still listed as a Postmates investor, despite the fact that the firm merged with Uber Technologies, Inc. (NYSE:UBER) in 2020. The online meal delivery startup considered both a regular IPO and going public through two separate SPACs before accepting Uber’s $2.65 billion purchase offer. The year before the transaction, Postmates was valued at $2.4 billion.

MLP’s Brooklyn Aces

Pickleball. Yes, the sport of pickleball has grown in popularity during the last several years. So much so that NBA great LeBron James has invested in a Major League Pickleball franchise.

Durant and his business partner have joined the MLP as owners of an expansion pickleball franchise as of 2022. It is unknown how much money Durant and his crew have put into the franchise.

Durant’s squad is the Brooklyn Aces, and he has used his newly formed club differently from previous MLP teams. Durant has focused on making pickleball more accessible to “underserved populations” as he works to raise awareness of the sport and his new team.

 

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