Kevin Wayne Durant stands as an eminent figure in American professional basketball. Currently, Durant showcases his extraordinary talents as a key player for the Phoenix Suns within the National Basketball Association (NBA). Revered by fans and peers alike, he is celebrated as one of the premier athletes in NBA history. As the curtains rise on 2024, the spotlight once again turns to this basketball prodigy, not just for his on-court exploits, but also for the impressive fortune he has amassed over the years.
Net worth
According to multiple reports, Durant boasts an estimated net worth of approximately $300 million.
Durant's current NBA stint finds him playing for the Phoenix Suns, following a headline-grabbing trade from the Brooklyn Nets in February 2023. For the 2023-24 NBA season, Durant is slated to earn a substantial $46.4 million.
In terms of global sports earnings, Durant secured a spot among the top ten highest-paid athletes in 2023, amassing a staggering $89.1 million. Forbes reports that Durant rakes in an impressive $50 million annually from endorsements alone.
Journey to stardom
Born on Sept. 29, 1988, and hailing from Suitland, Maryland, Durant honed his skills on the basketball courts of Seat Pleasant, where his passion for the game burned brightly from a young age. His exceptional talent was evident early on, catching the attention of scouts and coaches alike.
After a stellar high school career, Durant took his talents to the collegiate level, attending the University of Texas. His time with the Texas Longhorns further showcased his prowess, earning him numerous accolades.
NBA dominance
In 2007, Durant entered the NBA Draft, being chosen by the Seattle SuperSonics as the second overall pick. The Sonics signed him to a four-year contract valued at $19.5 million.
Fast forward to 2021, Durant inked a significant contract extension with the Brooklyn Nets, spanning four years and totaling $194.22 million, translating to an average annual salary surpassing $48 million. This landmark deal elevated Durant to the status of the highest-paid small forward in the NBA. Durant's tenure with the Nets didn't unfold as expected, land he was traded to Phoenix Suns in 2023.
Lucrative partnerships
As a 13-time All-Star, Durant's off-court earnings have soared to over $40 million per year, buoyed by recent endorsement agreements with prominent brands such as Coinbase, NBA Top Shot, and Weedmaps. Among Durant's notable endorsements and partnerships are collaborations with Alaska Air Group, Google, NBA 2K, and Nike.
In a historic move, Durant and Nike solidified their partnership with a lifetime contract, making him only the third NBA player to secure such an agreement, joining the ranks of Michael Jordan and LeBron James. The comprehensive deal encompasses footwear, apparel, and a joint philanthropic endeavor aimed at nurturing grassroots basketball. Additionally, Durant's pact with Nike includes a generous $50 million retirement package, underscoring the enduring nature of their collaboration.
Since their collaboration began in 2007, Durant and Nike have launched an impressive array of 15 different shoe models. The 13-time All-Star has even hinted at the imminent release of a 16th pair, further solidifying his position as a prominent figure in the world of sports endorsements and branding.
Off-court ventures
Durant's entrepreneurial prowess extends far beyond the basketball court, with a portfolio boasting investments in over 80 companies through his firm, Thirty Five Ventures (35V). Notably, Durant is the mastermind behind the media brand Boardroom and served as a producer on the Oscar-winning film "Two Distant Strangers" in 2021. Through 35V, Durant has strategically placed bets on a diverse array of ventures, including Yoshi, Rubrik and Whoop, among others.
One of Durant's standout investments was in Postmates, which proved highly lucrative following Uber's acquisition of the food-delivery service, netting him a cool $15 million.
In addition to his tech investments, Durant has also dipped his toes into the world of sports ownership, acquiring minority stakes in MLS Philadelphia Union and the NWSL's NJ/NY Gotham FC. Durant, further, ventured into professional pickleball team ownership through 35V in 2022.
His foray into media extends to Just Women's Sports, an American media platform dedicated to women's sports, where Durant is an investor through 35V.
ESPN and Durant unveiled plans for "The Boardroom," a six-episode series hosted by Rich Kleiman and Jay Williams. By 2020, Boardroom had evolved into a standalone media network. The network's growth continued with the launch of two podcasts, "Out of Office with Rich Kleiman" and "The ETCs with Kevin Durant." In 2022, The Athletic reported that Boardroom had grown into a 25-person company, offering digital news media, podcasts, video, and social content, while also forming partnerships with brands such as Weedmaps, Coinbase, and FanDuel.
On the entertainment front, Durant has proven his mettle as an actor and producer, with notable appearances in series and films like "Thunderstruck" and "Billions."
The legacy
As Durant continues to etch his name in the annals of basketball history, his legacy serves as an inspiration to aspiring athletes and entrepreneurs worldwide. With his unparalleled talent, unwavering work ethic, and keen business acumen, Durant has transcended the confines of sports, leaving an indelible mark on the world stage.
In the ever-evolving landscape of professional sports and business, one thing remains certain: Durant's star will continue to shine brightly, illuminating the path for future generations to follow.
