Kevin Durant is the co-founder of Thirty Five Ventures alongside his longtime friend and manager Rich Kleiman. Founded in 2016, Durant has invested in and owns stakes in over 80 businesses across the fintech, cryptocurrency, media, and health and wellness industries, among other fields as of 2022. Kevin Durant’s net worth is reportedly around $200 million, taking into account not only his business investments but his NBA earnings and sponsorship & endorsement money.
What is Thirty Five Ventures?
After joining the NBA in 2007, Durant struck up a friendship with Rich Kleiman, who he met through pop culture icon Jay Z. That friendship blossomed and also took on a new look when Durant hired Kleiman to be his manager. Durant went on to co-found Thirty Five Ventures alongside Kleiman in 2016, the name inspired by Durant’s jersey number with the Oklahoma City Thunder and the Golden State Warriors (the origin of his jersey number is a tribute to Durant’s AAU coach who was fatally shot at the age of 35).
Thirty Five Ventures is the brainchild of Durant, who had various interests and business opportunities he wanted to pursue. While many such companies feature the athlete as sort of the brand, Durant is active in deciding what opportunities and direction he wants to pursue, while Kleiman feeds him ideas he believes Durant would be interested in, and Kleiman also takes care of the management side of their ventures and businesses.
Thirty Five Ventures operates in industries in which Durant has a personal interest, such as fintech, cryptocurrency, health and wellness, and media, alongside other business opportunities he sees as lucrative. Through Thirty Five Ventures, Durant and Kleiman have invested in notable companies such as Postmates, Coinbase, SeatGeek, OpenSea, and Dapper Labs. Durant is also more involved on the media side of things, such as his podcast Boardroom, where he explores the intersections between the sports, media, and business worlds. Durant also has directorial experience in other content creation such as web series and short films; he is one of 3 NBA players to win an Oscar!
Thirty Five Ventures also manages Durant’s charity organization, the Kevin Durant Charity Foundation. Founded in 2013, the KDCF was envisioned by Durant to help kids in low-income communities not only in his own region but also around the world (Durant himself came from a low-income background, which has ignited his purpose for the charity). The KDCF provides athletic, educational, and social programs that Durant himself is actively involved in, while Kleiman is the executive director.
How much money has Kevin Durant earned in his NBA career?
Despite all the off-the-court moves Durant makes, the NBA money is as lucrative as ever, and his been instrumental in building Durant’s wealth. Since being drafted in 2007, Durant has earned just below $350 million in 16 seasons, according to Spotrac, meaning that Durant has on average taken home around $21,875,000 for every season he has played in the NBA. It doesn’t end there either; Durant still has 3 years on his current contract that should see him earn a little less than $150 million, and that doesn’t take into account any future contracts he may sign. When Durant’s NBA career comes to a close, it won’t be a surprise if he eclipses the $500 million mark in NBA earnings.
Does Kevin Durant have any revenue streams?
One would think that the player salary and the business investment money would be everything that Durant earns, but like most superstar athletes, Durant gets a lot of money through sponsorships and endorsement money. Durant is an ambassador for a few companies that he has invested a stake in, and on top of that, he has a few other lucrative deals, such as a 10-year Nike deal that reportedly will get him $300 million. According to Forbes, Durant received between $40-$50 million from endorsements with major brands such as Coinbase, Dapper Labs, and 2K Sports.
Who is the richest NBA player?
The richest active NBA player is LeBron James, who is one of the few players who earns even more than Kevin Durant. James was the first active NBA player to become a billionaire; he has earned over $430 million in 20 seasons in the NBA, and according to Forbes, has earned around $900 million from equity and endorsements. Notable brands and companies James has worked with or is currently working with include Nike, with whom he has a lifetime sponsorship deal, Beats by Dre, Walmart, PepsiCo, and many others. James has been instrumental in paving the way for the current generation of NBA athletes to make major off-the-court business moves, although he stills fall short of Michael Jordan, who is the richest NBA player ever and really took sponsorship money to a different stratosphere in the previous generation.
While Kevin Durant is still one of the biggest superstars in the NBA, he is quickly turning himself into a star in the business sphere too. Durant is effectively using his reputation and his earnings as an NBA player to earn himself even more financial success by leveraging that into sponsorships and investments. Durant’s shrewdness on and off the court should earn him recognition as a very successful person in multiple facets of life. The cherry on top is that it is always nice to see NBA players give back to communities, which Durant is doing an excellent job with the Kevin Durant Charity Foundation.