You may know him as “The Admiral” or by his illustrious and Hall of Fame NBA career. But unlike many professional athletes that go broke once they stop playing, Robinson has done quite the opposite.
Robinson in now making waves in an new arena: The private equity world. Focusing on real estate, the Admiral just opened his SECOND firm called Capital Real Estate Fund 2 which is garnering investments from massive funds and banks such as Goldman Sachs.
The success comes after his first venture in 2007 which consisted of 11 original investments that returned 24% to investors!
This has brought his net worth to a whopping $70 million! Young athletes everywhere should take note!
From Urban Intellectuals:
You constantly hear the horror stories of professional athletes going broke after they are finished playing. Former NBA, NFL, MLB and NHL stars finances dry up at a pretty alarming rate during retirement because they are use to spending and earning at a certain level.
However, during retirement, things must change or going broke is inevitable. Just look to the ESPN 30 for 30 documentary “Broke” for a laundry list of examples where people were making millions of dollars a year only to squander it during retirement.
Do you think Robinson’s education at a prestigious military academy made this possible? Let us know your thoughts in the comments below!