NBA Star Devin Booker Sets Focus on Becoming an Investment Mogul

Abu Mubarik September 05, 2022
Devin Booker. Photo credit: Skysports.

Devin Booker is not only making a name for himself in the NBA with the Phoenix Suns but in the business world as well. He is materializing his childhood dream of becoming a businessman and an investor. And at 25 years, he has become a startup investor.

Booker, who became the youngest player in the 2015 NBA draft class and the 13th overall after a season at the University of Kentucky, has taken up stakes in seven startups. His newest investment is in real estate. His investment comes on the heels of signing a five-year contract extension with the Phoenix Suns worth $158 million.

In addition to his contract extension,  the 25-year-old last year signed deals with sports video companies Overtime and Buzzer and convenience store delivery app GoPuff. He also participated in a funding round for luxury watch marketplace WatchBox and picked up a cash deal from Converse.

According to Forbes, Booker is making $31.7 million in salary this season and another $8 million annually from endorsement deals with brands like Nike and video game Call of Duty. in July 2022, he extended his contract with Nike through to 2029.

Born in Grand Rapids, Michigan in October 1996, the shooting guard has so far amassed a net worth of $30 million, according to Celebrity Net Worth.

Booker started his entrepreneurial journey with zero financial knowledge and often turned to older teammates for advice. He also sought business advice from Reynolds, the CEO and chairman of Chicago-based investment banking firm Loop Capital. 

He was also linked to Micheal Johnson and even had lunch with him to pick some business ideas from him. Since retiring from the NBA, Johnson has been one of the few influential businessmen. 

The NBA star has so far heeded the advice of some of the people he has consulted and today, he is the co-owner of coconut-water sports drink COCO5. He is one of the lead investors in the deal, pumping in a seven-figure commitment,

According to Forbes, Booker has moved the startup’s headquarters to Arizona from Chicago and has been weighing in on marketing campaigns and a packaging redesign. Also, he played a major role in interviewing and hiring the new leadership at the company which is projected rapidly from less than $5 million in revenue in 2021.

In 2021, Booker led the Phoenix Suns to their first conference title in 28 years. He also helped the Suns post the NBA’s best regular-season record of 2021-22.

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