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This Hoop Star Explains Why He Will Be A Billionaire By Age 40

This Hoop Star Explains Why He Will Be A Billionaire By Age 40

Golden State Warriors forward Draymond Green is never afraid to speak his mind.  The two-time All-Star was happy to see LeBron James “destroy” Charles Barkley earlier this year. Green isn’t shy about his ambitions either. “I want to be a billionaire. I want to be a multi-billionaire. I don’t have an exact number, but I just want to be a billionaire first and that’s my goal,” says Green. “I want to do that by the time I’m 40. Tough task for sure, but I think I can reach it.”

Green isn’t shy about his ambitions either. “I want to be a billionaire. I want to be a multi-billionaire. I don’t have an exact number, but I just want to be a billionaire first and that’s my goal,” says Green. “I want to do that by the time I’m 40. Tough task for sure, but I think I can reach it.”

The above is from a new show from the digital media company, Uninterrupted, founded by James and his business partner, Maverick Carter. “Kneading Dough” explores the choices athletes are forced to make at a young age, often involving huge sums of money. Carter hosts the show, which debuts Thursday, and Green is his first guest.

Green, 27, was a second-round pick in the 2012 NBA draft. His first contract was for three years and $2.6 million. It was a huge sum of money for someone who grew up poor, but not something he could retire on. “My first year, I didn’t hire a financial advisor. I said I’m going to do this on my own. I want to learn how to pay bills. I want to learn how money works and if I screw it up, I screw it up,” says Green. “I can’t live the rest of my life off this 400 grand I’m going to take home anyway, but I can teach myself about money.”

Green’s rookie deal turned out to be a bargain for the Warriors as he developed into one of the NBA’s top players. Green’s big score came in the summer of 2015 after helping the Warriors win their first NBA title in 40 years and finishing runner-up for defensive player of the year. Green inked a five-year, $82 million contract extension with the team. His salary is $15.3 million this season, plus an estimated $4 million off the court, including endorsements with Nike, Verizon and others. Green also hosts a podcast, "Dray Day," on Uninterrupted providing him an outlet for his candid remarks.

Two months after re-signing with the Warriors, Green pledged $3.1 million to his alma mater Michigan State to renovate athletic facilities and fund an endowment. It was one of the largest gifts ever by an athlete to his former school. “Michigan State means everything to me,” Green told Forbes in 2015. “I wouldn’t be the person I am today without my Spartan experience and this donation reflects my deep appreciation to the University.”

Carter asks Green about any stupid purchases that he regrets. “A $21,000 night in a club. I had a blast for sure, but I could have had a blast for $4,000. I woke up the next day hot,” Green replies. “That’s $21,000 that I can never get back. People say: ‘that isn’t nothing to you;’ $20,000 is still $20,000. I don’t care how much money you have, it is still $20,000.”

The Warriors are a collection of superstars. Three of Green’s teammates rank among the top dozen this season for NBA jersey sales and four—Stephen Curry, Kevin Durant, Klay Thompson and Green—made the All-Star team this season. Green says there is a friendly competition among Silicon Valley’s marquee team when it comes to the investments they have and the startups they are trying to get into. KD appears to have bragging rights at the moment. “He kind of flexes his muscles on Postmates,” says Green regarding the on-demand delivery service which Durant made a six-figure investment in a year ago.

There has been a change over the past decade regarding athletes’ perspectives and behaviors regarding money, according to Ben Clammer, who works with multiple pro athletes at J.P. Morgan Private Bank. “I think athletes today are much more open to discussing the choices they are making with their money and what they’re doing to stay wealthy long after their playing days are over,” says Clammer. He points to a role model like James, who has built a team of advisors to “protect his financial interests and help build his businesses in a thoughtful way.”

Green is trying to lead the Warriors to the NBA Finals for the third straight year, but he is also keeping his eye on an even bigger prize. “Every day, every decision I make is how is this helping me become a billionaire,” he says.

Source: forbes.com

Date Posted: Tuesday, April 11th, 2017 , Total Page Views: 1384

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