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There are hundreds of stories of famous athletes who have gone broke in short periods of time. Those stories are plastered at the top of every website and the beginning of every news segment. What is a little more difficult to find, and less covered, are the thriving success stories. The stories of former players that were wise with their money and made smart investments that will care for generations. Jamal Mashburn is one of those examples.
Jamal Mashburn, who played for three NBA teams and the Kentucky Wildcats in college, now owns more than 80 franchise locations and five car dealerships. These include 40 Papa John’s location, 38 Outback Steakhouse restaurants, and 4 Dunkin’ Donuts.
In 2013 Jamal Mashburn teamed up with former NFL player Winston Justice – to launch a venture capital firm for investing in high-tech startups. The name of the VC firm is Mashburn Justice Capital Partners. To date, their only public investment has been $2.1 million into LevelEleven which is a sales performance platform.
In 2014, Mashburn launched a marketing agency, Mashburn Sackett, with locations in Chicago and Miami. The agency’s focus is to serve the growing interest in smaller agencies that respond with greater agility to internet changes. It specializes in interactive, experiential, and viral marketing, social media, integrated film and 3D production, among other related digital services.
Here are several factors that Mashburn attributes to his success:
It is refreshing and inspiring to hear the good stories and not just the bad. Mashburn has clearly taken his NBA earnings and built a growing business empire.
What other former athletes are now thriving business successes?