Kevin Durant has a very accomplished resume on the court; he is a 2 time NBA champion, a 2 time finals MVP, a four time scoring champ, 9 time All NBA selection, and also a league MVP just to name a few of his accolades, However, today we are not here to speak about his athletic ability, but rather his savvy investing skills as an athlete.
In 2016, right at the time he was signing with the Warriors, KD invested in the food delivery service, Postmates. Durant invested $1 million of his money in the company because he just had to get involved. He said during an interview on ESPN, “I’m hungry one day, and Rich (his business manager) was like, ‘Yeah, this company will bring you food from any restaurant.’ I’m like, ‘They’ve got an app like that? Can you call somebody up there? We need to get involved because we use this sh*t on a day-to-day basis.’”
At the beginning of last year, it was estimated that Durant's initial investment of $1 million had ballooned to more than 10 times what he put in. Not a bad move for KD at that moment. Fast forward to today, Postmates is being acquired by the largest ride-hailing company, Uber for $2.65 billion. With this move, Durant's $1 million is now worth $15 million, making that investment look like a great move now.
The $15 million will help KD with 35 Ventures, his company that focuses on his endorsements, business deals, and investments. The company has 15 employees, so giving them more money to play with and get paid with will surely help with KD's business moves going forward.
Durant upped his investment moves when he made the move to Golden State, since he was in Silicon Valley, the hub all creation. He said, “I want to use the checks I get from companies to create true generational wealth.” While in Silicon Valley, KD sought counsel from executives at Google and Apple and from power brokers in the investment industry.
Other investments of Durant include Acorns, Coinbase, Robinhood, Caffeine TV and Lime scooters. KD also purchased a 5% stake in the Philadelphia Union, a Major League Soccer team last month. Durant is surely making some great moves to set up those that come after him!