How many Sports Millionaires Create More Millionaires?

Magic Johnson

Earvin “Magic” Johnson’s purchase of part ownership of the Los Angeles Dodgers is the latest step in one of the most successful post-game careers of any professional athlete.

Facebook created 1000 New millionaires in one day and these newly created millionaires will more than likely create new start-up tech companies that will go on to created more millionaires.  That is a great mindset.  Many angel investors locate in silicon valley actively seeking new investments.  That is the nature of the tech industry.

How many Sports Millionaires have been created?  How many Sports Millionaires have gone on to create more Sports Millionaires?  Where is the start-up Sports Industry designed around creating Sports Millionaires who willingly go out and Create More Sports Millionaires?  Lots of questions and I am looking for answers.  We can easily reference Silicon Valley.  Where is the Silicon Valley of the Sport Industry.

Look at the country of India.  This country has produced many great internet minds now and back during the internet boom.  As a people, many of them took their money made in America back to India and set up some of the top internet business and software companies in the world.  They have incredibly went about putting their country on the World business map.  I cant help but to think that it was their intention to do just that.

Now if you contrast that with the Sports Millionaire, here is what you may find.  The Sports Icon more than likely rose out of poverty to “Make It.”  Along the way he will probably thank his single parent mom.  His dad will more than likely be a no-show.  He will thank his coaches along the way for being the father figure in their lives.  Now he goes in the first round and is an instant millionaire.

That Sports Icon was more than likely spending the majority of his time training for his sport.  He was not spending the majority of  his time in college taking the essential courses and being a normal college student.  His time was spent practicing, meeting and watching film for his upcoming game.  Then he had to get treatment for his injuries and go eat.   Where is the student time?   Where is the Real Study time?  I am sorry but since the player must sleep, there is simply not enough time in the day.  Now the single mom who raised him is more than likely back home taking care of the rest of his family working at a blue-collar job.  He is not going to get that much support/guidance/money on how to succeed in college from back home.

Now that young man who was writing software code and getting that Ivy League education more than likely came from a two parent white-collar household who had planned for him to go to college since the time he was born.  He was being prepped for Wall Street from day one.  His whole family support structure probably goes back generations of Ivy League education.  Now what does that really mean?  It means that Wall Street was being talked about at the dinner table.  Power, ownership, business was being deposited in his DNA.  He was learning that if you create Wealth for others, they will help create Wealth for you.

Now compare that lifestyle to one of fast food, take care of yourself mentality in a week to week pay structure of a single parent home and try to wrap your mind around what this kid’s DNA will be made of.  In case you don’t get it, here it is and you can look at it happening everyday.  For example, the first round draft choice signs his multimillion dollar contract, he bling blings, gets hurt and the next thing you know his manager has stolen all his money and he is broke.  How about this one.  This potential first round draft choice gets arrested for stealing trinkets.  How about selling sports items for tattoos?  Need I go on?

If we look at Sports Icons who had long-lasting careers and examine how they fare in the business world after their careers are over, the success stories will be few and far between.  Sure some guys can go and be successful Sports Talk Hosts but that is a limited field.  I am looking for the exceptions.  The NBA has many players but how many Magic Johnson‘s do they have?  MC Hammer blew $30 million back when that was a lot of money.  How and Why?

Mark Zuckerberg is now worth $17 billion at 28 years old.  Facebook has created 1000 millionaires.  These people will create more tech companies with more millionaires and billionaires.  This will be passed along in all their families DNA.  All their children will go to college and their lives will be planned out as such that Success Will Be In Their DNA.

The Sports Icon will have his 15 minutes of Glory.  He will be invited to Zuckerberg’s private box at the stadium.  He will be invited to private dinners at the Zuckerberg estate and socialize in his private circles.  The problem is most of the people that he meets and greets will go on to be captains of Industry and create more captains.  The Sports Icon will fade from memory and maybe end up killing himself when the star light burns out.

Magic Johnson

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