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Russell Westbrook: A Serious Business Approach

Russell Westbrook, the former NBA MVP, isn’t biding his time until retirement; he’s already on the path to building an empire. With a team of billionaire advisors, the 14th-highest-paid athlete globally is making strategic moves with his fashion brand, advertising agency, and other lucrative investments.

 

In his Los Angeles office, situated high above Avenue of the Stars, Westbrook, not one to shy away from bold decisions, opts for a photoshoot with a bare chest beneath his tan linen suit, accentuated by black boots and a gold necklace. This sartorial choice reflects the 34-year-old Los Angeles Clippers point guard’s unique blend of basketball prowess and fashion-forward sensibilities as he navigates the intersection of sports and entrepreneurship.

 

As he plays out the final years of his NBA career, Westbrook is actively working towards establishing a business empire that he envisions will surpass his on-court triple-double records. “I want to be a billionaire,” he asserts, “sooner than later.”

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History suggests he won’t reach it. Only three athletes, Michael Jordan, LeBron James, and Tiger Woods, have achieved billionaire status, and Russell Westbrook has made it only about a third of the way. Over his 15 NBA seasons, he has earned over $336 million in salary and nearly $200 million from endorsements and other off-court ventures. This year, he ranks as the 14th-highest-paid athlete globally, earning an estimated $82.1 million over the last 12 months, contributing to a net worth Forbes estimates at $375 million. Yet, Westbrook has been making strategic moves for years.


Westbrook’s interest in fashion led to the creation of his streetwear brand, Honor The Gift, in 2017. Despite a modest revenue of $5.7 million last year, the label expanded to over 300 retail locations worldwide and opened a flagship store in L.A. Sales were up 75% from 2021. In addition to his fashion endeavors, Westbrook has diversified his investments into various consumer industries, including food, drinks, muscle recovery, and social media. He also acquired minority ownership stakes in five Southern California car dealerships, a venture he recently sold for at least $15 million.


Now, Westbrook is focused on building up his three-year-old Russell Westbrook Enterprises (RWE), which includes a recently launched digital advertising business called RW Digital. The new venture aims to assist brands in reaching diverse audiences. Westbrook plans to purchase an auto parts maker, emphasizing the lucrative potential of this less glamorous but profitable industry.


In an attempt to redefine life after basketball, Westbrook is actively involved in his business pursuits. He hired Donell Beverly, a former high school teammate, as president of the revamped RWE. The enterprise has participated in a significant investment round in Varo Bank, with Westbrook serving as an advisor to enhance financial literacy. He also co-founded Evolution Advisors with Acrisure, offering financial products for businesses owned by underrepresented entrepreneurs. Westbrook expects RW Digital to generate $37 million in revenue this year.


As Westbrook enters a new phase in his NBA career, navigating free agency this summer, he anticipates making more money in business than in basketball. Despite the uncertainty of his next NBA deal, Westbrook envisions financial success through his unsexy venture into the automotive industry. His goal is to become an auto parts mogul, recognizing the lucrative opportunities within this sector. RWE is currently evaluating potential acquisitions or joint ventures in the automotive industry, ranging from $50 million to $100 million each.


Westbrook’s diverse business activities have allowed him to learn from prominent figures in the business world, such as billionaire investor Thomas Tull, Chad Brownstein, Arthur Rubinfeld, and Mickey Segal. These mentors have become key advisors, guiding Westbrook through various investments and business partnerships.


His most successful investment to date was a $9 million stake in Tull’s holding company, Tulco, which is now worth more than 10 times its initial value. Westbrook’s involvement in business extends beyond mere celebrity meetings; he actively engages in all decisions, reflecting the same work ethic he brings to the basketball court.


With a strong emphasis on community impact, Westbrook has invested in a real estate fund focused on urban development in South L.A. This aligns with his goal to positively influence the underserved communities of Los Angeles.


While Westbrook faces a different financial landscape as he transitions from his NBA supermax contract, he believes his business endeavors will surpass his basketball earnings. His long-term commitment to business involves strategic acquisitions, investments, and partnerships that go beyond traditional athlete ventures. Westbrook aims to join the exclusive club of NBA billionaires, and he sees this journey as a pinnacle achievable for someone like him who hails from humble beginnings.


Despite potential challenges and a lengthy timeline, Westbrook is determined to make a lasting impact in the business world, leveraging his celebrity status to build a network that extends far beyond basketball. As he eyes the coveted Three Comma Club, Westbrook’s second career in business is poised to redefine success for athletes and entrepreneurs alike.