The public attention is mainly attracted by sportsmen who have decided to become investors in technology start-ups. The real estate business less frequently garners media coverage. However, it can ultimately prove to be much more profitable.
Basketball player Luol Deng, who is a star of a new generation, proved that theory. He has actively engaged in business during the years of his sports career. Deng managed to create a business empire of $125 million thanks to his NBA salary.
He was born in Sudan. But after some years of living abroad, he moved to the United States to take on basketball professionally. By the way, he was only 14.
Now Luol Deng has something to be proud of. He has been playing in the NBA for 15 years already and has consistently shown excellent results.
The basketball player of Sudanese origin was first involved in real estate investments in East Africa and London. Only later did he begin to consider the American real estate market and invest in a variety of projects.
Deng even created an investment company D3N9 to do this. It is mainly known for its immovable property investment in the so-called Opportunity Zones which allows investing in design-build-finance projects dealing with low-income areas.
“I always liked the idea of investing, and for a great while I wanted to be helpful to Chicago,” Deng notes.
An article in 2009 Sports Illustrated magazine on the financial risks faced by professional athletes, says that approximately 60% of NBA players went bankrupt within five years of their retirement. Therefore, in 2015, Luol Deng decided to put an end to such a trend and held a kind of symposium for basketball players on how to invest in the immovable. He also held similar meetings for a much larger audience during the next two years. He is definitely has something to say.
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