The NBA is flush with cash right now thanks to its $24 billion TV deal with ESPN and TNT, as well as its global opportunities. Players are sharing in the riches, with 29 current NBAers in the middle of contracts worth at least $94 million in deals that range from three years in the case of LeBron James to five years for most of the 28 others, according to data from Spotrac. The significance of $94 million: It is more than the career earnings from playing salary of the sport’s greatest player, Michael Jordan, who earned $93.8 million with the Chicago Bulls and the Washington Wizards.
But don’t shed a tear for MJ. Sure, he made more than $4 million during only two of his 15 seasons in the NBA (Bulls owner Jerry Reinsdorf also paid Jordan his $4 million salary during the full season he took off to play baseball). Yet Jordan elevated athlete endorsements to an entirely new level, which has continued long after he hung up his high-tops for good in 2003. The result: Jordan is the highest-paid athlete of all time at $1.85 billion in 2017 dollars (the tally is $1.5 billion in current dollars).
Jordan has partnered with dozens of brands since he turned pro in 1984, including Gatorade, Hanes, MCI, Oakley, Upper Deck, Wheaties and more. His biggest backer has always been Nike, which signed Jordan ahead of his rookie year to a five-year deal worth $2.5 million, plus royalties. The Jordan Brand exploded for Nike and is now a $3.1 billion global business with revenue up 13% over last year and $800 million from two years ago. Jordan’s estimated cut of the business is $140 million this year.
Jordan showed the path to a fortune built on endorsement earnings that has since been followed by Tiger Woods, who ranks second at $1.7 billion. Like Jordan, Woods reached the pinnacle of his sport while shying away from any controversy, making him a marketing darling for sponsors like Accenture, American Express, EA Sports, General Motors and Nike.
Woods banked $600 million (adjusted for inflation) between 2006 and 2010, with endorsements and appearance fees fueling most of the earnings. The image of Woods as the perfect pitchman came crashing down on a Thanksgiving night eight years ago, but he remains the top draw in golf when healthy. His earnings are off 68% from their peak but still rank among the highest in golf.
Forbes‘ earnings estimates include salaries, bonuses, prize money, endorsements and licensing, as well as fees from books, golf course designs and appearances. Earnings cover from the time the athletes turned pro through June 1, 2017, and include money earned after playing careers were over, as well as earnings by the estate in the case of Arnold Palmer. We do not include investment income, and we back-filled years where we did not publish earnings figures, such as prior to 1990 for Palmer and Jack Nicklaus. We adjusted all figures for inflation.
The 25 highest-paid athletes of all time played a mix of eight sports, with golf, basketball and boxing landing five entries each. The top 25 have earned a cumulative $19.4 billion since turning pro ($15.9 billion without adjusting for inflation).
From branding it like Beckham to the Golden Bear’s Midas touch, these sports legends are so money when it comes to career earnings and endorsement deals.
The Highest-Paid Athletes of All-Time
1. Michael Jordan
Career earnings: $1.85 billion (2017 dollars)
Jordan still maintains his longtime endorsement relationships with Gatorade, Hanes, Nike and Upper Deck, but the investment that made him a billionaire was the $175 million fire-sale price he got the Charlotte Bobcats (now the Hornets) for in 2010. Jordan bumped his Hornets stake to 90% in 2013, and the team is now worth $780 million.
2. Tiger Woods
Career earnings: $1.7 billion
The 14-time major winner has played only 18 official PGA Tour events since the start of 2014 because of injuries (he’s missed the cut or withdrawn from half of them). Sponsors still see value in partnering with Woods, with TaylorMade, Bridgestone and Monster Energy the most recent additions to his endorsement portfolio.
3. Arnold Palmer
Career earnings: $1.4 billion
Palmer died in September 2016, but his estate still banked $40 million during the last 12 months. More than 400 stores sell Arnold Palmer-branded apparel in Asia, with plans to move into new markets like Thailand and Vietnam. His estate has agreements with 39 licensees. The partnership between IMG founder Mark McCormack and his first client, Palmer, revolutionized sports marketing.
4. Jack Nicklaus
Career earnings: $1.2 billion
Nicklaus’ course design company is responsible for 410 courses in 41 countries, with the 18-time major winner involved in three-quarters of the projects. In addition to course design, the Nicklaus business empire includes real estate, wine, ice cream, drinkware, golf academies, lemonade and more.
5. Michael Schumacher
Career earnings: $1 billion
The health of Schumacher, 47, has been precarious since a 2013 skiing accident in the Alps left him in a coma. The F1 titan dominated his sport while racking up seven titles and is one of only six athletes to top the FORBES highest-paid athletes list since 1990.
6. Phil Mickelson
Career earnings: $815 million
Mickelson pitches for Amgen, ExxonMobil, KPMG, Rolex, Grayhawk and the Greenbrier, as well as two new partners in Intrepid Financial Partners and Workday. His $84 million in career prize money ranks second all-time. Coming in second to Tiger has been plenty lucrative for Lefty, who finally outearned his rival in 2015, for the first time since Woods turned pro in 1996.
7. (tie) Kobe Bryant
Career earnings: $800 million
Bryant’s earnings during his playing career were tops all time among team athletes, and he had the highest NBA salary the final six seasons of his career. The Black Mamba is attacking retirement the way he did opposing guards during his 20-year NBA career. He launched Kobe Inc. and a venture capital firm, Bryant Stibel, with $100 million in funding.
7. (tie) David Beckham
Career earnings: $800 million
Beckham’s most lucrative years have come in retirement thanks to royalty deals with Diageo, to launch a new single-grain Scotch whisky called Haig Club, and Global Brands Group, to create Beckham-branded consumer products. Beckham is inching closer to bringing an MLS expansion team to Miami, which he got the rights to at the bargain-basement price of $25 million.
9. Floyd Mayweather
Career earnings: $785 million
Our earnings figure for Mayweather does not include his monster payday for his August bout against Conor McGregor (our scoring period ended June 1). His McGregor paycheck makes Mayweather just the sixth athlete ever with earnings of $1 billion.
10. Shaquille O’Neal
Career earnings: $735 million
O’Neal sold a stake in the business of Shaq last year to Authentic Brands Group, which got the rights to roughly half of O’Neal’s future licensing and endorsement revenue in return for a lump sum payment. Shaq’s low-cost sneaker line has sold more than 120 million pairs during his career.
11. LeBron James
Career earnings: $730 million
The NBA’s top pitchman added Intel and Verizon this year to his endorsement portfolio, which already included Nike, Coca-Cola, Beats by Dre and Kia Motor. King James owns a stake in 17 Blaze Pizzas, the fastest-growing food-service business of all-time.
12. Cristiano Ronaldo
Career earnings: $725 million
Ronaldo is rising up the charts as the highest-paid athlete in the world the past two years, including $93 million in the 12 months ending in June. His Real Madrid contract extension will push the earnings for soccer’s reigning player of the year even higher.
13. Greg Norman
Career earnings: $705 million
Like Shaquille O’Neal and Muhammad Ali before him, Norman sold his future licensing rights to Authentic Brands Group in March. Norman’s company retains control of his real estate, investments and course design operations, but ABG will work on his other business interests in apparel, accessories, steak and wine.
14. Mike Tyson
Career earnings: $700 million
The youngest heavyweight champion in the history of boxing squandered $400 million in earnings (not adjusted for inflation) before filing for bankruptcy in 2003. Tyson has reinvented himself at 51 as an actor and with business partnerships around gaming, motorcycles and fitness centers.
15. Roger Federer
Career earnings: $675 million
Federer recently re-took the crown for highest career prize money on the ATP Tour with his resurgent year on the court in 2017. His $111.9 million tally surpasses the total of Novak Djokovic ($109.8 million), as well as that of Tiger Woods, who sits at $110 million in prize money on the PGA Tour.
16. Lionel Messi
Career earnings: $600 million
Messi has been at Barcelona since age 13, and his contract extension last month will keep him at Camp Nou through the 2020-21 season. The buyout clause for Barcelona’s all-time leading scorer doubled under the new deal to $835 million.
17. Alex Rodriguez
Career earnings: $575 million
A-Rod signed two of the three biggest contracts in the history of baseball during his 22-year career and was paid $20 million by the Yankees in 2017 despite retiring last year. He has been busy in retirement as a Fox Sports analyst and a host for an upcoming CNBC reality show, in addition to his high-profile relationship with Jennifer Lopez.
18. Jeff Gordon
Career earnings: $525 million
Gordon won 93 races during his Nascar career, the modern-day record. He owns a stake in Jimmie Johnson’s No. 48 car and could be in line for a larger ownership role at Hendrick Motorsports.
19. Oscar De La Hoya
Career earnings: $520 million
The Golden Boy’s 2007 fight with Floyd Mayweather was the biggest bout in pay-per-view history, with 2.5 million buys, until Mayweather faced Manny Pacquiao. De La Hoya earned a then-record $52 million because he served as the fight’s promoter through his company Golden Boy Promotions, which he founded in 2002.
20. Manny Pacquiao
Career earnings: $510 million
Pacquiao’s pay-per-view career includes 18.6 million buys and gross revenue of $1.2 billion. The Filipino senator lost to Australian Jeff Horn in his only 2017 bout. Pacquiao’s biggest career payday was his 2015 fight with Mayweather, for which he pocketed roughly $125 million.
21. Derek Jeter
Career earnings: $490 million
Jeter’s tenure as an MLB owner is off to a rocky start in South Florida. The 14-time All-Star put up only $25 million of the $1.2 billion price for the Miami Marlins, but Jeter is calling the shots as CEO of the team.
22. (tie) Peyton Manning
Career earnings: $480 million
The five-time MVP retired as the NFL’s all-time leader in passing yards (71,490) and touchdowns (539) and was the NFL record-holder for earnings on and off the field. Manning remains a popular pitchman in retirement, shilling for Nationwide, DirecTV, Gatorade, Papa John’s and Otterbox. He also hosted the 2017 ESPYs.
22. (tie) Kevin Garnett
Career earnings: $480 million
Garnett earned an NBA-record $334 million in playing salary during his 22-year playing career with the Timberwolves, the Celtics and the Nets. His blockbuster six-year, $126 million contract as a 21-year-old in 1997 helped push NBA owners to lock out the players ahead of the 1998-99 season.
24. Evander Holyfield
Career earnings: $475 million
Holyfield’s career-high payday was $34 million, for his second fight versus Mike Tyson, which ended abruptly when Tyson was disqualified for biting off a chunk of Holyfield’s ear. Despite a quarter-century of boxing purses, Holyfield faced major financial issues with a foreclosure of his $10 million, 109-room Atlanta estate and lawsuits for unpaid child support.
25. Andre Agassi
Career earnings: $470 million
Agassi’s massive Nike endorsement deal earned him $140 million over 10 years, including the appreciation of the company stock he received in the pact.
5 Ways To Cope With The Self During Isolation
As Covid-19 continues to spread ruthlessly across the globe, governments have enforced lockdowns in countries to slow the infection rate. And this has meant restricted movements of people and work from home. As the globe’s population practises self-isolation and social-distancing, the lack of the familiar can lead to further stress and mental health issues. Establishing coping mechanisms to deal with anxiety and depression during these times is crucial. Healthcare practitioner and counselling psychologist, Nkateko Ndala-Magoro, through the South African Depression and Anxiety Group’s Facebook platform, lets us in on five self-help strategies to deal with depression.
Get active: “It is hard I know to stay active while you are confined. The benefits of staying active is the release of feel good hormones that are in contrast with the hormones that exacerbate depression. Being active also helps regulate your heart beat; for people suffering from anxiety, the regulation of breathing might help with the severity of the anxiety/panic attack.”
Take time to sleep: “I know people are already feeling like they do not have any more positions of sleep because of sleeping too much during lockdown. I encourage that people get as much quality sleep as possible in this time. Sleeping has benefits on our health and wellbeing in general, let alone on our mental health on many levels.”
Read: “Keep yourself busy by reading. There is a wealth of information in books. There are many online platforms including Amazon, which have made available e-books for free. Read self-help books and fiction to escape the reality; and any other books that interest you.”
Learn a new skill: “This will also keep you interested as mastering something new takes a lot in terms of focus and energy.”
Connect with loved ones: “Connect with your loved ones via video chats. Journal and work on things you have been meaning to work on to give you a sense of accomplishment.”
The Five Trends To Future-Proof Your Business
Some of these fads were slowly building in the previous decade, others are still nascent, but need your full attention to prepare your business for the times ahead.
1. AI and machine learning
Key takeaway: Automate repetitive tasks, but be wary of automating inefficiencies and biases.
You’re surrounded by artificial intelligence (AI) and machine learning: from the recommendations Netflix makes based on your viewing history to those pesky adverts that track you around the internet. As Bronwyn Williams, a trend analyst at Flux Trends in South Africa, explains, “Most of what you think is AI is actually machine learning.” Williams emphasizes that fears about AI “stealing jobs” are overrated, and most businesses will see the arduous, repetitive tasks given to machines, freeing up humans for analysis and critical thinking. She warns businesses to remember it’s the human interaction that differentiates one offering from another. “Don’t automate away your value. Look under the hood and make sure you understand why you are automating something – and be careful not to automate inefficiencies.” Looking at automated HR processes, companies have discovered that even unconscious human biases are learned by machines (for example, CVs belonging to certain genders and races are discredited. Machines are not born neutral – especially if they’re learning from humans.) Embrace machine learning, but do so with a pinch of salt.
2. Driverless cars and the supply chain
Key takeaway: Autonomous cars are still about 15 years away, but it’s best to prepare your fleet and supply chain choice now.
The automotive industry is going through some major changes: electric cars, the growth of services like Uber and Lift, and lastly, the development of autonomous vehicles. Though the first two will impact everyday consumer experiences, it’s self-driving cars that will massively alter businesses and their supply chains across Africa in the next decade. “As convenience and efficiency are the cornerstones of the fleet industry, there is no doubt self-driving vehicles will start making a play for their share of the fleet industry sooner rather than later,” explains Sudesh Pillay on fleet management company EQSTRA’s online platform. The supply chain will no longer be affected by driver fatigue and human error. Driverless cars will also dramatically impact accident rates (lowering them by 90%, according to some estimates) and supply chain efficiency. As Innovation Group’s Future Now report indicates, autonomous cars face some serious challenges across Africa before they can become a practical alternative to human drivers. “There is a vision, in the not-too-distant future, in which self-driving cars hold a lot of promise…. Others are more skeptical about the practical feasibility, especially in Africa where the infrastructural limitations (roads, electricity etc.) hold back the vision, at least in the foreseeable future. Our research indicates that self-driving cars may only become a reality in South Africa in  or more years and that this may spur innovative advances in infrastructure, energy services and ultimately the look and feel of roads and cities.”
3. Climate crises and
Key takeaway: Hire a Chief Sustainability Officer to
start building climate resilience into your business.
“Now is the time to start thinking seriously about resilience,” says Hugh Tyrrell, Director at Green Edge, a corporate mentoring initiative in Cape Town that helps businesses develop sustainably. “The big brands have Chief Sustainability Officers (CSO). This role is in the C-suite and is forward-thinking,” Tyrell explains. CSOs look at how businesses can start developing their own power, lower their eco-footprint and manage their resources better. Looking to the big corporate trendsetters, there are some major shifts in corporate strategy focusing on a sustainable business model instead of growth at all costs. Unilever, for example, is holding their suppliers to the same eco-friendly standards that they themselves are working at, says Tyrrell. Natural disasters associated with the climate crisis are already affecting African businesses too. Explains Tyrrell, “In agriculture, which is a big sector in Africa, we are seeing the effect of droughts or floods. Others have to work more closely with their suppliers to ensure supplies come in good condition and on time.” Mining is another industry heavily impacted by the climate crisis – and the push by consumers for more environmental-friendly solutions.
4. The age of cyberattacks and data breaches
Key takeaway: Make sure your IT department includes
skilled data protection specialists.
As businesses innovate and rely less on physical hardware like servers, and start instead relying on the cloud, they can expect to see a massive uptick in cyberattacks and subsequent data breaches. This trend increased exponentially in 2019 (even the City of Johannesburg in South Africa was held by ransomware) and is set to explode in the coming decade. Added to this, businesses are collecting more data than ever before, particularly for marketing purposes and to tailor their product offerings. Because of this, businesses should prepare themselves for the onslaught by firstly, taking their online security very seriously, secondly, training their staff (employees are the weakest link in any security chain) and thirdly, putting more budget behind appropriate security measures. “The demand for narrow cybersecurity expertise is driven by a constantly changing threat landscape, as well as evolving technologies, such as cloud or IoT. As a result, we see the bigger demand in, for example, threat intelligence analysts and dedicated threat intelligence services, and experts for cloud platform protection. The call for data protection specialists is seen in both technical and regulatory and compliance aspects,” says Alexander Moiseev, Chief Business Officer at online security software Kaspersky.
5. The remote workforce
Key takeaway: Flexi-hours and working remotely are practical ways to combat challenges like loadshedding and traffic.
With intermittent power supply (particularly in South Africa), increasing traffic and less reliance on physical IT infrastructure like servers, the remote and flexible workforce is becoming a norm. Says Moiseev, “The working model is already being changed, with 40% of small and medium companies regularly allowing their employees to work at locations outside the office — from home or while traveling.” In addition, health scares like the coronavirus are amplifying these trends. “Apps that enable remote working are having a moment,” explains Williams. “You now get filters to add makeup to video conferences so you don’t have to dress up when you’re working from home.” Many employees expect the flexibility of remote working when job hunting, and businesses reap the benefits of agility.
The Top 5 Emerging Crazy Tech
A pick of some of the weirdest, coolest tech that could come hurtling our way this year.
- A bot that delivers toilet paper
Forgot to instal toilet paper in the loo? The Charmin RollBot is designed to carry a roll of toilet paper on two wheels. With the press of a button on your phone, the RollBot will help with your sanitary requirement.
Using Bluetooth, the bot will commence its mission; an infra-red sensor able to navigate its way to you. According to Business Insider, there’s no price or release date for RollBot, nor is it clear if it will ever be released as a consumer product. Charmin calls RollBot a “conceptual prototype”. The brand unveiled the bot last month at the CES 2020 expo in Las Vegas.
2. The Cyrcle phone
If for any reason you got bored of your rectangular handset, the circular phone is always an alternative offering a different view and take. According to the makers, the phone was designed with the Generation Z, female audience in mind. It’s round and features two headphone jacks. The device was designed by a US-based startup delivering a shape that it says is more “sensual”. The company reckons it will be ready to launch in a year’s time.
3. A smart bed
There’s nothing like a good night’s sleep. But it’s not always possible to have the best sleep every day. Or is it? There is a bed that’s guaranteed to give you your beauty sleep the way you want it.
Sleep Number Climate 360 has a mattress with features that warm your feet to help you sleep faster. It will also help you stay asleep by cooling your body, and balance your temperature with your natural wake and sleep cycles.
But what’s most intriguing is the fact that the bed also gives you a Sleep IQ score for personalized sleep insights. It measures your heart rate, breathing and movement, tracks your circadian rhythms and can show how your heart rate varies. The smart bed received the CES 2020 Best of Innovation award and is only expected to be available in 2021.
4. Self-changing trash can
For those who dread taking out the trash, this device is possible a no-brainer. Apart from its motion sensors to detect when you need to throw trash, when it’s full, it will automatically seal the trash bag and line the bin with a new one, all with a press of a button.
Even if the bin is overflowing, the top compartment will lift up so it can still seal the bag shut without any mess. The bin, called the Townew bin, was designed by a Canadian company, Knectek Labs.
5. Vertical TV
Just when we were getting used to wider TVs, it seems taller screens may soon be coming to your living room. Samsung’s Sero TV vertical-oriented will soon be hitting markets.
The TV can not only work in the traditional horizontal format, but is also able to turn on its side for playing vertical videos in portrait style.This might come in handy when watching videos from social media platforms such as TikTok or Instagram that deal primarily with vertical videos.
It sits on a stand that prevents it hitting the floor when turning, and can be paired with a phone so that it automatically orientates it correctly based on what’s beamed from the handset. According to TechRadar.com the pricing and availability are yet to be revealed, but the Sero will be leaving Korea and is headed to the US and “several global markets” later this year.
Download issues of Forbes Africa
- Single Digital Issue: Forbes Africa April 2020 - 30 Under 30 R50.00
- Single Digital Issue: Forbes Africa March 2020 R50.00
- Single Digital Issue: Forbes Africa February 2020 R50.00
- Single Digital Issue: Forbes Africa December 2019/ January 2020 R50.00
- Single Digital Issue: Forbes Africa November 2019 R50.00
Subscribe to Forbes Africa
[IN NUMBERS] Coronavirus Update: COVID-19 In Africa
31% Of Small Businesses Have Stopped Operating Amid Coronavirus: Sheryl Sandberg Shares How Facebook’s Latest Product Aims To Help
A Bottom-Up Approach To Cheaper, Next-Gen Electric Vehicles
How One Drive-In Became More Than Just Theater In Arkansas | The Long Haul | Ep. 5 | Forbes
Why Pfizer Is Betting Big On An Unproven Treatment For Covid-19 | Forbes
- Health6 hours ago
[IN NUMBERS] Coronavirus Update: COVID-19 In Africa
- Billionaires4 weeks ago
Jack Dorsey, Bill Gates And At Least 75 Other Billionaires Donating To Pandemic Relief
- Brand Voice4 weeks ago
Premium Cigars Made The Moroccan Way
- Heroes & Survivors4 weeks ago
‘Confused At First, Then Proud To Be In This Country’
- Current Affairs2 weeks ago
WITHOUT UNIVERSAL HEALTH COVERAGE WE ARE SITTING DUCKS WHEN THE NEXT PANDEMIC STRIKES
- Arts4 weeks ago
‘Our Home Became The Film Set, Blankets Became Props, Windows Became Locations’
- Entrepreneurs3 weeks ago
Nerves Of Steel: This Ambitious Property Tycoon Is On A Mission To Transform Accra’s Skyline
- Entrepreneurs3 weeks ago
How This African Animator Is Handling The Virus