It’s not a secret that some athletes can earn lots of money after they retire. In certain cases, they can make more money than they ever did even after leading successful careers in sports. And for the third year in a row, Forbes magazine compiled a list of the retired athletes who earned the most in 2015. Michael Jordan, Shaquille O’Neal and David Beckham are some of the names that have made out of retirement the most profitable part of their careers.
According to the magazine, at least 36 players who have retired from the Major League Baseball organization, earned over $20 million until the end of 2015.
Without further ado, let’s take a look at these highly successful former sportspeople:
Earvin “Magic” Johnson
Earnings in 2015: $18 million. He retired in 1996 and as founder of Magic Johnson Enterprises, his ventures into the real estate market and business lobbying, he focused primarily on the television market and insurance, offering “Magic Workforce Solutions” for the workforce of customers. Even though he had a major stake in the Los Angeles Dodgers, Los Angeles Sparks and the Major League Soccer franchise, but now he’s completely focused on the business of his very own brand.
Earnings in 2015: $19 million. Retired in 2009, the 80-year-old golfer still maintains a very busy schedule related to the design and consultancy for the construction of golf courses in more than 38 countries. This occupation has already led him to be the author of 400 fields to play throughout the world.
Earnings in 2015: $20 million. Retired in 1965, the former racing driver decided to leave the wheel behind and get to work at his car dealership, a decision that led him to consolidate the Penske Automotive Group, a company listed on the stock market that pays dividends of $11 million annually, a figure that adds to those reported by his own racing team, with 28 national championships to his credit.
Earnings in 2015: $22 million. Retired in 2011, O’Neal has generated significant dividends from the partial sale of his brand -Shaq-, acquired by Authentic Brands Group, a company that manages similar interests in figures such as Elvis Presley, Michael Jackson and Muhammad Ali. In addition to these earnings, his contract with Icy Hot, which is more than 10 years old and has been renewed six times, represents another significant source of income.
Earnings in 2015: $26 million. He retired in 2005 and he’s another former golf star who spends his time designing golf courses in 41 countries and 39 US states. His 398 open fields, designed by the company that he has in association with Golden Bear, in Delaware, will only be a part of his activities, as he also plans to expand into the field of gastronomy by opening 10 restaurants over the next five years. Nicklaus Children’s Health Care Foundation, his philanthropic endeavor, has raised $50 million for the cause he leads.
Earnings in 2015: $30 million. Retired in 1960 with only two seasons in the NFL, the iconic player of the 1959 title, made his fortune out of a chain of restaurants before purchasing the management of the franchises of The Panthers and The Bojangles, which he still owns.
Earnings in 2015: $32 million. Retired in 1987 after a solid 12-year career in the NBA, which left him with a record of 13.6 points in average per game, the sixth one of the Milwaukee Bucks became famous thanks to his work with the franchise. He also dabbled in the food industry with companies such as Wendy’s and Chili’s.
Earnings in 2015: $40 million. Retired in 2006 and with some health problems in recent years, the star of the Masters tournament is still selling big in Asia, with 500 Arnold Palmer stores. Drinks are also part of the economic empire of former athlete, representing one quarter of his profits with the Arizona Beverage Co.
Earnings in 2015: $65 million. Retired in 2013, and with an established personal brand that has entered into contracts with Kent & Curwen worth $8 million a year, plus the royalties of the collection that was launched in 2016. The former English footballer has also started planning the purchase of the Miami MLS in 2018, thanks to his revenue from businesses in real estate and advertising.
Earnings in 2015: $110 million. Retired in 2003 and with his own Nike brand, which reported a growth of 14 percent last year, he had one of his most productive years by selling the rights of the MJ firm for about $100 million. Jordan also has juicy contracts with Hanes, Gatorade, and Star, which adds to his assets estimated at one billion dollars.
Read Jason Hanold’s How To Retain Valuable Human Resources