Kobe Bryant, widely recognized as one of the most accomplished players in NBA history, left a lasting impact that transcends the boundaries of basketball. Tragically, his untimely passing on January 26, 2020, abruptly halted his seemingly unstoppable journey towards amassing a billion-dollar fortune. This remarkable trajectory was fueled by astute investments and a continuous stream of highly profitable endorsements.
At the time of his unexpected demise, Bryant’s estimated net worth stood at $600 million, ranking him among the richest Black individuals globally and positioning him behind Michael Jordan and Tiger Woods in terms of wealth among multi-million dollar athletes.
In the final stages of his playing career, Bryant secured endorsements totaling approximately $30 million per year. Following his retirement from the NBA in 2016, after a successful two-decade-long play with the Los Angeles Lakers, Bryant accumulated more than $323.3 million in career earnings, solidifying his position as one of the most highly compensated athletes in the history of the league.
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The build-up to a billion-dollar status
Bryant accumulated significant wealth through his on-court earnings during his career. Towards the end of his career, he held the highest salary in the NBA for six consecutive seasons. Additionally, he secured endorsement deals with over 20 prominent brands, such as Nike, McDonald’s, Coca-Cola, Mercedes-Benz, and Hublot.
Upon retiring from the NBA in 2016, Bryant’s total earnings from playing salary and endorsements amounted to $680 million, surpassing all other team athletes in the history of sports at that time. The only persons to soar above Bryant in terms of earnings were three stars from individual sports: Tiger Woods, Floyd Mayweather, and Michael Schumacher.
Nevertheless, Bryant’s path to becoming a billionaire was not solely confined to the basketball realm. In addition to his prowess on the court, he garnered immense admiration for his remarkable achievements in the business arena, ultimately establishing himself as a successful entrepreneur. Utilizing his earnings wisely, Bryant invested in various entrepreneurial endeavors, such as the burgeoning sports beverage BodyArmor, as well as emerging startups like Art of Sport and HouseCanary.
Bryant established Kobe Inc. in 2013 and recorded its initial investment in the sports drink brand BodyArmor the subsequent year. He purchased slightly over 10% of the company for approximately $5 million. Following his retirement in 2016, Bryant introduced his venture capital fund, Bryant Stibel, worth $100 million in collaboration with entrepreneur Jeff Stibel and aimed to invest in media, technology, and data enterprises.
In 2018, Bryant achieved a significant feat when Coca-Cola made a substantial investment of $300 million to obtain a 15% stake in BodyArmor. This investment raised the value of BodyArmor to $2 billion, resulting in the increase of the value of Bryant’s stake to an impressive $200 million.
Nevertheless, his most significant achievement occurred in 2021, a year after his demise, when Coca-Cola made a cash payment of $5.6 billion to obtain the remaining 85% of BodyArmor. In an official statement revealing the recent acquisition of BodyArmor, Alfredo Rivera, the president of Coca-Cola’s North America operating unit, expressed deep admiration for the esteemed sports legend.
“If it wasn’t for Kobe Bryant’s vision and belief, BodyArmor would not have been able to achieve the success we had. I couldn’t be more excited to become part of the Coca-Cola family and set our sights on the future.”
Consequently, the posthumous wealth of Bryant alludes to the potential of a billion-dollar empire, stemming from his net worth of $600 million at the time of his demise in 2020, along with the $400 million his family received from Coca-Cola’s acquisition of Body Armor in the subsequent year.
Prior to his demise, Bryant intended to sever ties with Nike in 2021 and establish his own line of ‘Mamba’ shoes, drawing inspiration from his renowned moniker ‘Black Mamba.’ Nevertheless, although the agreement failed to materialize after his passing, recent updates from Nike indicate a resurgence of Bryant’s signature footwear, with the company expressing their aspirations to expand this legendary collection.
Although he failed to reach the billion-dollar milestone during his lifetime, Bryant’s impact on and off the basketball court has left a valuable legacy. His achievements and entrepreneurial spirit paved the way for a lucrative business empire that will be remembered for generations to come.
