After winning three championship titles for the Miami Heat and playing for 16 years in the league, Dwyane Wade decided to hang his jersey and put his business skills to work. Since his 2019 retirement, the newly inducted Hall of Famer has investments in several establishments including consumer products and media companies. Interestingly, a particular business venture of his is now reportedly worth $500 million more than its 2021 valuation and part of the credit belongs to the 3x champion.

During his NBA years, Wade had also teamed up with Napa Valley Vintner Jayson Pahlmeyer and founded Wade Cellars. Additionally, the millionaire NBA veteran also has a share in Players TV.

Dwyane Wade helps increase franchise value

Two years after his retirement, Dwyane Wade purchased a minority stake in the Utah Jazz with a promise that he would take the franchise to a superior level. After becoming a part-owner of the Jazz, Wade led the team to become one of the most tech-savvy teams in the league. According to a 2021 article by Fortune, he helped fans gain experience in the BTS activities of the Jazz by granting them access to the world of NFT/metaverse.

Following Wade’s involvement, Boardroom reported on April 15 that the team now has an increased estimated value of $2.25 billion. The figure is $500 million more than the previous $1.75 billion valuation that was calculated in 2021. D-Wade reshared the tweet on his social media handle with a caption that read, “Added value”.

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While Wade had done an excellent job as the minority owner of the Jazz, the Miami Heat legend is only part of the reason behind the 28.5% profit.

Utah Jazz grows significantly in a span of two years

Despite failing to secure a playoff spot this season, the Utah Jazz have done exceptionally well with the team’s former star players Donovan Mitchell and Rudy Gobert. The team went through some significant changes during the offseason as the franchise made several trades to rebuild the entire roster. While the NBA world had expected the team to tank this season due to the rebuilding process, the Jazz shocked fans by becoming the top contending team in the Western Conference for a brief period of time.

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Given the type of on-court performances displayed by the newly-acquired players, it might be safe to say that the team has gained quite a lot of favors over the past several months.