Since retiring from baseball, Alex Rodriguez has built a business empire and amassed a net worth of $350 million. He started in real estate before branching out into other ventures. But the New York Yankees legend did not do it on his own. Rodriguez had the help of multiple mentors who guided him into business and showed him the ropes. One such mentor was none other than NBA icon Magic Johnson.
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Johnson is most famous for his legendary NBA career with the Los Angeles Lakers. But after retiring from basketball, he has become a business tycoon, building a net worth of $620 million. Notably, he is also a minority owner of the Los Angeles Dodgers. Johnson once opened up about mentoring Rodriguez and the similarities between them as businessmen.
Magic Johnson lauded Alex Rodriguez for his commitment to business
Alex Rodriguez wanted to make sure he invested his money properly and, and that he didn’t have problems later in life. So he turned to business as a tool to invest that money while also building something concrete. Magic Johnson was one of the people who helped Rodriguez invest and gave him a lot of insight into the business. Johnson once lauded A-Rod’s commitment to business as a whole and his approach to it.
According to a 2021 Forbes report, Johnson said, “Alex was the first athlete I met who really committed to be a great businessman. He was really serious so we clicked right away.” He further said, “It’s funny how we’re so much alike. We don’t gravitate towards mediocrity. We want to be the best so we get with the best and do what it takes to get into those rooms with powerful people that have accomplished things we aspire to.”
The lessons and guidance have obviously paid off, seeing as how A-Rod has built a name for himself as a businessman. Rodriguez has also passed on wisdom while interacting with budding law students in Miami. But getting back to Rodriguez’s success, he now has an even stronger connection to the NBA.
Alex Rodriguez co-owns the Minnesota Timberwolves
For those unversed, Alex Rodriguez and business partner Marc Lore started the process to buy the Minnesota Timberwolves in 2021. They each currently own 20%, totaling 40% of the Timberwolves’ ownership. At the end of 2023, they will have the chance to buy another 40% between them, 20% each. This would make them the majority owners of the franchise.
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Rodriguez is enjoying being the Timberwolves’ owner and is regularly at their games. This is a testament to his growth as a businessman and the impact that his mentors have had on him. What do you think of Magic Johnson’s words about Alex Rodriguez? Kindly share your thoughts in the comments below!
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Abhishek Kumar