How Carmelo Anthony built a $170M net worth from the NBA and business investments

After a 19-year career in the NBA and achieving great success in the league, Carmelo Anthony, recently retired from professional basketball, having scored 28,289 career points; making him the ninth-highest scorer in NBA history.

Before joining the NBA, Anthony was quite famous. He led Syracuse to a national title in 2003 as a true freshman before getting drafted later that year by the Denver Nuggets. Before his selection in Denver, the NBA franchise had not reached the playoffs in eight seasons.

However, he changed the fortunes of the team, earning postseason berths for 10 consecutive years after the Carmelo pick. They subsequently earned a trip to the Western Conference finals against Bryant and the Lakers in ’09, according to Sports Illustrated.

At the peak of his career, he finished third in MVP voting in 2013 and also made the All-NBA team six times. He has also been a 10-time All-Star and a four-time Olympian (with three gold medals).

Beyond the NBA, Anthony has quietly built a solid reputation. With a reported net worth of $170 million and counting, he has built his worth from his NBA earnings/savings, investments, and brand endorsements, according to Knickcentral.

According to Forbes, he made an estimated $6 million from his endorsement deals. Some of the brands include Jordan brand, Panini, Isotonix, Powercoco, Footlocker, and Haute Time.

In terms of investment, his portfolios cut across tech to wine. He has stakes in the venture firm, Melo7 Tech Partners; media production firm, Creative 7; fashion label, STAYME7O; and wine brand, The Seventh Estate.

In 2018, he invested in Genies, a leading avatar technology company, in a series A funding round. He joined forces with notable athletes such as Kyrie Irving, Ndamukong Suh, and Russell Westbrook.

He also invested in two popular New York City restaurants: Nobody’s Pizza and The Ainsworth. Additionally, he has invested in Overtime, the leading brand for the next generation of sports fans. 

In 2007, Anthony provided a $500K angel check to the phone accessory company, Mophie. Nine years down the lane, you can now find their product in Apple stores. The firm was subsequently acquired by Zagg for over $100M.