The fantastic Nelson Smith is now a staff writer on TSM. Mostly because I felt that you needed something more awesome to read.
Allow me to make a gross blanket statement, because it’s kinda what I do.
People love hearing about former high profile athletes going bankrupt. Former Mets and Phillies center fielder Lenny Dykstra went spectacularly bankrupt back in 2009 as his various business interests imploded. He’s in jail now. Boxers Mike Tyson and Floyd Mayweather are terrible with money, each have burned through hundreds of millions worth of earnings. Evander Holyfield pays tens of thousands in child support every month, since he has 11 different children with 9 different women. The ranks of retired NFL and NBA players are littered with stories of failed business ventures, greedy family members, and personal bankruptcies.
What about the other side of the coin? It’s not very often we look at athletes who were actually smart with their money. And it’s really too bad, since some of these people make savvy investments and turn their millions into legitimate empires. Let’s look at seven.
1. Greg Norman
As a pro golfer, Norman is remembered more for the events he didn’t win — specifically the 1996 Masters — even though he was one of the best players of his generation. He’s made up for it as an entrepreneur, leveraging his brand into a golf empire. He owns interests in many successful courses, a golf apparel/accessory company, a turf company, a golf course design company, and a wine company. His estimated net worth is $300M.