Dwyane Wade is a former NBA player who spent 16 years in the league. For Wade, becoming a professional basketball player was not only a lifelong dream but also his salvation and escape route from a drug-addicted life and gang violence.
While at Harold L. Richards High School in Oak Law, Wade played basketball and continued to Marquette University, where he led the team to their first Final Four appearance in 25 years. The Miami Heat drafted him in 2003, and he decided to leave Marquette during his senior year, as universities typically require a student to complete graduation before retiring a jersey.
At the Miami Heat, he won three NBA championships—first in 2006, second in 2012, and third in 2013—and eventually announced his retirement from the NBA after the 2018–2019 season. His 16-year career in the NBA saw him earn $200 million in salary alone and $17 million annually in endorsements, according to CNBC.
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Before retiring, Wade was planning to bring in more money than he ever earned while playing in the NBA. He ventured into entrepreneurship, built some successful businesses, and invested in other ventures, including the WNBA team Chicago Sky.
Sky won their first championship in 2021 after being founded before the 2006 season. The ex-NBA player decided to become an investor in the Chicago Sky in 2023 when the team was valued at $85 million. Today, the team is worth $95 million, according to Sports Illustrated.
Wade told “CBS Mornings” that his 5-year-old daughter Kaavia inspired his investment in the team. He wanted his daughter to be inspired like his son Zaire was inspired by his favorite NBA players.
“The big part of that is that my son, Zaire, grew up and he had a dream of being in the NBA,” Wade told CBS News. “He had a dream of being like his favorite players. You understand the importance of role models and so, I want my daughter to have that same feeling.”
And one of those role models is Angel Reese, who was selected as the seventh overall pick by the Chicago Sky and currently plays as a forward for the team. According to Spotrac, Reese is signed to a four-year contract valued at $324,383 with Sky.
Wade believes that Reese has helped increase the love for women’s sports.
“The women showed up when the lights were the brightest and that started back last year when Angel Reese and Caitlin Clark had that national championship moment,” Wade said. “It’s just like anything that we want to do in life. You work and you just prepare for your moment. You don’t know when it’s going to come always.”
Investing in the Sky was Wade’s first investment in women’s sports, though his wife, actor Gabrielle Union, and their daughter, Kaavia, are invested in NWSL club Angel City FC.
