“What people don’t realize is Junior didn’t make a fortune as a player, but he turned what he earned into something extraordinary, becoming a billionaire African American businessman in this country.” Magic Johnson paid the ultimate respect to former rival turned friend, Junior Bridgeman. The 12-year NBA icon passed away Tuesday, suffering a medical emergency at a fundraiser in Louisville. The Bucks icon, with his savvy business acumen, entered an esteemed list consisting of just three other players.

Michael Jordan, Magic Johnson, and LeBron James are the 4 NBA players to be billionaires. But then they turned their fortune in business with their basketball brand value. But Junior Bridgeman? He wasn’t a star player who could cash in his endorsement deals. He defined the role of the sixth man even before the award existed. The key to his business success was the fast-food restaurant franchise. But he sold the majority of the outlets for one key reason.

Junior Bridgeman and his recipe to success after selling the Wendy’s chain

After learning the trade secrets, in 1988, Junior Bridgemen invested what remained from his NBA savings — about $750,000- to buy five Wendy locations in Milwaukee. Over the next two decades, his restaurant empire generated a combined $500 million in revenue at its peak in 2015.

Thus was able to capitalize on that and built a fast-food empire that included more than 500 Wendy’s, Chili’s, and Pizza Hut franchises at its peak in 2015. But 2016 saw a different story. Bridgeman sold most of his restaurants for an estimated $250 million. That same year, he purchased the Kansas-based Heartland Coca-Cola bottling company for an estimated $290 million. But do you know Junior Bridgeman’s holdings are even worth more?

Because in 2018, he also took a minority stake in Coca-Cola’s Canadian bottling business! It’s the business that is controlled by the owner of NBA’s Toronto Raptors and the NHL’s Maple Leafs, Canadian billionaire Larry Tanenbaum. This strategy helped him increase his revenue threefold to nearly $1 billion in 2023. He knew when to enter and exit a business, and that’s the secret recipe to make money in business.

Despite the success in the bottling industry, the family still owns controlling stakes in 160 Wendy’s franchises and 70 Fazoli’s Italian restaurants. The Forbes report states the estimates are worth $100 million combined, including the underlying real estate owned by Junior Bridgeman.

Bucks icon and his entry into the restaurant business

The reasoning behind entering the franchise business was very simple for the Louisville legend. Back in 1978, he had already completed three seasons in the league. Junior Bridgeman walked into a McDonald’s in Milwaukee, which the then Bucks’ general manager had the franchisee. Meeting Wayne Embry made him realize the financial opportunities he could have post-retirement. Owning a business would mean people were working for him instead of him working for someone.

However, entering the fast food business was five years down the line after the initial idea. Instead, he invested $1,000,000 in savings during his career in cable television. The then Bucks owner, Jim Fitzgerald, asked his players about the business idea where they had to invest $150,000 over a few years. Fitzgerald sold the company five years later, and this was Junior Bridgeman’s first taste of success in the corporate world. As he would pocket a total of $700,000. The money and timing of it made it easier for him to enter the fast food business.

In 1984, at the age of 30, a baking friend from Chicago gave the Bucks star a tip about the potential in opening a Wendy’s on the city’s South Side. He grabbed the opportunity with both hands and took his first steps as a passive investor. When he retired in ’87, instead of accepting the Milwaukee position as assistant general manager, Bridgeman wanted to focus on being an active business investor. To support him came another former NBA star, Paul Silas.

They initially invested about $100,000, however, and lost about $150,000 altogether. Despite the loss, the Louisville legend wanted to learn about the business model and joined a Wendy’s training program. Which tied his business victory story and led him to invest successfully in Coca-Cola.

His success story was recently recalled by the Lakers’ legend Shaquille O’Neal. “He opened the book and… matter of fact he was ‘I’ll help you, I’ll make a call for you.’ It’s actually how I got into Papa John’s also cause he lives in Louisville and he knew it. He’s definitely a dear friend.” In 2019, Papa John’s reputation was declining, and Shaquille O’Neal received an endorsement royalty, stock, and a place on the board.

The 4x NBA champion considered a Bucks icon a close friend. “A lot of people don’t know this but I’ve patterned my whole business acumen after Junior Bridgeman.” So, Bridgeman’s passing caught everybody by surprise. But he leaves behind a legacy not just based on hardwood success. But even based on his business ventures.