Ever wonder what makes Dwyane Wade and Carmelo Anthony stand out, even off the court? Their legendary NBA careers are a big part of their success, but the real magic lies in how they’ve grown their wealth. With a net worth of $170 million and $160 million (Celebrity Net Worth), respectively, these two didn’t just rely on basketball. They’ve mastered the art of smart investing.

The game-changer, you ask? In 2018, Wade and Anthony teamed up with Patricof Co., a $150 million investment firm (as per Forbes) designed exclusively for elite athletes. Unlike typical agencies that handle contracts and endorsements, this firm opens doors to unique investment opportunities. Tech, consumer goods, you name it—Patricof Co. helps them get a piece of the action. And it did something similar for the two NBA greats in discussion.

More about the invest platform behind Carmelo Anthony and Dwyane Wade’s business successes

With nearly 250 clients, this firm seems to be rewriting the playbook on how sports stars approach private markets and entrepreneurship. Some even wonder what makes P/Co stand out in a world dominated by financial giants like Goldman Sachs and JP Morgan. Well, it’s their deeply personal, athlete-focused approach.

“We take this militant view of client service,” explained Daniel Magliocco, a partner at P/Co, in an article by Boardroom. “If we can be that first call for our clients and consistently deliver exceptional expertise, athletes will trust us,” he added. This hands-on approach isn’t just lip service. It’s the backbone of why P/Co has become a go-to name for athletes venturing into business.

As per the Boardroom article, the firm’s journey started with a vision shared by Magliocco and founder Mark Patricof. Having worked together for over a decade, the duo has facilitated iconic deals like the sale of Gawker Media and Webster Hall. By 2016, they noticed a trend–while stars like LeBron James and Kevin Durant were making headlines in venture capital, many athletes lacked the right guidance to explore private markets confidently.

That’s where Matt Siegel came in. If you’re wondering who Siegel is, consider him the bridge between athletes and the business world. Formerly with Roc Nation, he’s an expert in navigating the complex relationships within sports and entertainment. “Matt’s great gift is understanding how all the pieces fit together,” Magliocco said. And fit together they did—under Siegel’s leadership, P/Co brought athletes opportunities they wouldn’t have accessed otherwise.

According to an article by Business Insider, NBA greats Carmelo Anthony and Dwyane Wade joined the firm during its first year. Since then, from investing in brands like Bombas socks to Cholula Hot Sauce, P/Co has made 24 deals and already celebrated five successful exits.

Dwyane Wade was a part of Patricof Co.’s biggest hit with hot-sauce company Cholula

Back in 2019, Wade and a group of star athletes, including Travis Kelce, J. J. Watt, and Dak Prescott, took a leap of faith by investing in Cholula Hot Sauce through Patricof Co. Their bet paid off big time when McCormick snapped up the fast-growing brand for an eye-popping $800 million in 2020. Talk about a slam dunk in the business world!

For Wade, this was more than just a financial win. He took his partnership with Cholula to heart, using it to make a difference. Remember Cinco de Mayo in 2020? While most of us experimented with home cooking during the pandemic, Wade hosted an epic Instagram Live taco-making session with celebrity chef Aarón Sánchez.

The hour-long broadcast wasn’t just fun to watch—it raised over $100,000 for the Independent Restaurant Coalition, supporting struggling restaurants and workers. Not every day you see an athlete turn a business venture into a meaningful cause, but Wade pulled it off with style. And boy, did his well-intended move pay off big time.

How did Patricof Co help Carmelo Anthony

Some of your favorite athletes, including Anthony, made waves off the court with a significant investment. Through the partnership with Patricof Co, Melo, and many others joined a movement to promote healthier eating and a more sustainable future.

This was back in May 2022 when Daily Harvest—a company focused on organic and sustainable food—teamed up with star athletes like Anthony, Blake Griffin, Jared Goff, and others. Their mission? To encourage people to “Eat the Solution”. A call to action to consume more fruits and vegetables for both personal and planetary health.

These athletes weren’t just spokespeople but investors in Daily Harvest through its Series D financing, completed earlier that year. So, how did this partnership help, you ask? By connecting athletes’ influence with impactful businesses, Patricof Co empowers stars like Anthony to advocate for causes that matter.

Rachel Drori, the CEO of Daily Harvest, described the collaboration perfectly: “Together, we can work towards a more sustainable food system.” Through Patricof Co’s guidance, Anthony is making significant investments and proving that athletes can inspire change far beyond their sport. The investment platform has been an ace move for Melo and Dwyane Wade.