Home Nike kobe How Kobe Bryant made his $600 million fortune — and who is now responsible for it

How Kobe Bryant made his $600 million fortune — and who is now responsible for it

0

It’s been two years since NBA legend Kobe Bryant, his daughter Gianna and seven others tragically died in a helicopter crash in Los Angeles.

Bryant was an NBA Most Valuable Player, a five-time NBA champion, and one of the most influential players to ever pick up a basketball. He was also a shrewd businessman.

Bryant earned $323,312,307 from the Los Angeles Lakers during his playing career, the fourth highest earner in NBA history behind LeBron James, Kevin Garnett and Chris Paul.

And Bryant’s financial success spilled onto the field, including lucrative endorsement deals with top brands such as McDonald’s MCD,
-0.33%,
Nike NKE,
-1.02%,
and Mercedes-Benz DMLRY,
+1.13%.

See also: Odell Beckham Jr. took his $750,000 salary in bitcoins – how much did it end up costing him?

Bryant’s net worth at the time of his death on January 26, 2020 was around $600 million, according to Forbes. Bryant is survived by his wife Vanessa, who is the executor of the Bryant estate, and his daughters Natalia, Bianka and Capri.

One of Bryant’s most successful investments came while he was still playing in the NBA. He invested $6 million in sports drink company Body Armor in exchange for a 10% stake in the company, according to ESPN. He also becomes a brand spokesperson and participates in the recruitment of other brand ambassadors.

Coca-Cola KO,
-0.37%
announced it would buy control of Body Armor in a $5.6 billion deal in November 2021, valuing the sports drink company at $8 billion, according to the wall street journal. The Bryant estate earned about $400 million from the deal, according to the WSJ report.

Another trade win for Bryant was founded a $100 million venture capital firm in 2013 with Jeff Stibel, who had been an executive at LegalZoom, Web.com, Inc. and Dun & Bradstreet DNB,
-0.10%.

Their new venture capital firm, Bryant Stibel, has primarily invested in “technology, media and data-driven companies,” according to its website. She has diversified her investments to include both companies in their early stages of growth and larger, more established companies.

The company was one of the first investors in The players’ stand, a media company whose content is created by athletes, as well as body care company Art of Sport. Bryant Stibel has also invested in larger companies such as Dell DELL,
-0.18%,
Alibaba BABA,
-4.84%
and “Fortnite” developer Epic Games. As of 2021, Bryant Stibel had more than $2 billion in assets, according to CNN Company.

See also: The world’s highest-paid female athletes include Naomi Osaka and a million-dollar badminton star

But in 2021, the Bryant estate decided not to extend its sneaker and apparel deal with Nike. The footwear giant has discontinued all of its upcoming releases of the Kobe Bryant signature shoe line and will not be making any more in the future.

“I hoped to forge a lifelong partnership with Nike that reflects my husband’s legacy,” Vanessa Bryant told ESPN while confirming that talks with Nike had failed. “We will always do everything we can to honor the legacy of Kobe and Gigi. That will never change.

When Kobe Bryant was selected as one of the 2020 inductees into the Naismith Memorial Basketball Hall of Fame, Vanessa Bryant and NBA legend Michael Jordan spoke at the dedication.

Bryant had indicated that transitioning from basketball player to business mogul was a long-term goal that was important to him, especially given his goal-oriented mindset. In fact, he wanted to be remembered as an investor.

“We must constantly learn” Bryant said in 2016. “I mean, that’s why our mantra is value growth. Because to grow, you have to constantly learn. You have to constantly move, constantly improve. This is the key. That’s what makes life fun, I think.