6 athletes who made a fortune outside of the world of sports

6 athletes who made a fortune outside of the world of sports
Frederick M. Brown/Getty Images It's no secret that pro athletes can make millions on the playing field or in the arena, but some sports stars keep hustling long after their playing days are over. With a combination of money from their sports careers, the fame that comes with being an elite athlete, and the hard work and smarts that go into any successful business venture, athletes sometimes go on to make fortunes in industries outside of sports. Here are a few former sports stars who have defied the trope of the bankrupt retired athlete. 1. Tim Horton Sean Gallup/Getty Images You may only know Tim Horton's for its coffee and donuts, but Canadians are well aware their national fast-food chain is named for hockey star Tim Horton. Horton played in the National Hockey League for 24 years, the vast majority of which he spent with the Toronto Maple Leafs. His life came to a tragic end in 1974 when he was killed in a car accident. He was 44 at the time but still playing with the Buffalo Sabres. Horton co-founded the coffee chain bearing his name in 1964, putting some of his own inventions on the menu, and the chain became a multimillion-dollar franchise in 1968. After Horton's untimely death, his business partner Ron Joyce bought out his shares from his family for $1 million. At the time the chain had 40 stores; today it has grown to more than 4,000 locations around the world, and it's one of three global chains, along with Burger King and Popeye's, that make up Restaurant Brands International ( NYSE:QSR ) a fast-food conglomerate that has a market cap of $30 billion today. 2. Magic Johnson Lisa Blumenfeld/Getty Magic Johnson may be best-known for his on-court wizardry and no-look passes while he led the "Showtime" Los Angeles Lakers of the 1980s, but the basketball legend has had an enviable second act in business. As the head of Magic Johnson Enterprises, Johnson oversees a company worth more than $1 billion. He started with a movie theater chain and then became a Starbucks franchisee with 125 stores before selling that business. Today, MJE has controlling stakes in Equitrust, a financial services company; ASPiRE, an African-American TV network; and SodexoMAGIC, a food services provider. Johnson is also a co-owner of the LA Dodgers, LA Sparks, and LA Galaxy. 4. Dwayne Johnson Evan Agostini/AP Dwayne "The Rock" Johnson may have the most impressive record of success of any famous athlete. Johnson played football at the University of Miami, where his team won the 1991 national championship, and he briefly played for the Calgary Stampeders of the Canadian Football League. After his football career ended, Johnson rose to fame in World Wrestling Entertainment under the name "The Rock," and he parlayed that into a Hollywood career with early roles in the Fast and the Furious franchise. Today, Johnson is one of the highest-paid actors in Hollywood, and he owns Seven Bucks Productions with his business partner Dany Garcia. See the rest of the story at Business Insider

December 2, 2017 at 09:16AM