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Saturday, 02 December 2023 11:46

Kobe Bryant’s path to a billion-dollar fortune cut short by tragic passing

Renowned as one of the NBA’s all-time greats, Kobe Bryant’s legacy extends far beyond the confines of the basketball court. His shocking demise on January 26, 2020, halted what seemed an inevitable march towards a billion-dollar fortune, propelled by strategic investments and a cascade of lucrative endorsements.

At the time of his untimely passing, Kobe Bryant’s net worth was estimated at $600 million, placing him among the world’s wealthiest Black individuals and positioning him just behind Michael Jordan and Tiger Woods among athletes.

Bryant’s reinvention: From NBA star to entrepreneurial powerhouse

 

Retiring from the NBA in 2016 after a two-decade-long career with the Los Angeles Lakers, Bryant had amassed over $320 million in career earnings, securing his place as one of the highest-paid players in league history.

During the twilight of his playing career, he secured endorsements amounting to $25-30 million annually. Beyond the basketball court, Bryant’s financial success continued. In 2016, he joined the ranks of America’s Richest Entrepreneurs Under 40 with a net worth of $350 million.

As part of the move to strengthen his broad investment portfolio, he teamed up with Jeff Stibel to establish the Bryant Stibel—a $100 million venture capital fund in 2016 focusing on technology, media, and data companies. The fund proved lucrative, contributing substantially to his posthumous financial legacy, of which his family is now the primary beneficiary.

Kobe Bryant’s billion-dollar dream cut short

Kobe Bryant’s posthumous fortune hints at what could have been a billion-dollar empire—a significant contributor to this potential milestone was the $400 million his family received from Coca-Cola’s acquisition of Body Armor.

Bryant’s savvy $6 million investment in the sports drink brand in 2013, which has now increased to a $400 million return thanks to Coca-Cola’s $5.6 billion purchase in 2021, underscores the enduring financial impact of his strategic investments.

Nike resurrects “Mamba” line as Kobe Bryant’s estate continues to thrive

Before his passing, Kobe Bryant had plans to part ways with Nike in 2021 and launch an independent line of “Mamba” shoes, inspired by his iconic “Black Mamba” nickname. 

While the deal fell through posthumously, recent news from Nike signals a revival of Bryant’s signature shoes, with the brand expressing intentions to grow this iconic line. The specifics of the deal remain undisclosed—shrouded in secrecy by Bryant’s estate, diligently managed by his wife, Vanessa Bryant.

Despite the confidentiality surrounding the Nike deal, it is evident that Kobe Bryant’s shoes maintain their popularity among NBA and WNBA players, college athletes, and sneaker enthusiasts alike, suggesting a substantial value that likely surpasses the reported $10 million per year Nike paid during Bryant’s playing career.

[billionaires.africa]

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