Net Worth Ranker
What Is Isiah Thomas’ Net Worth?
Isiah Thomas, a celebrated figure in basketball history, has amassed a substantial net worth of $100 million. This impressive figure reflects not only his successful NBA career but also his astute business ventures post-retirement. His financial portfolio is diversified, spanning real estate, printing, and waste management industries.
Isiah Thomas’ NBA Career Earnings and Contracts
During his illustrious NBA career, Isiah Thomas earned a total of $16.7 million in salary. When adjusted for inflation, this amount is equivalent to approximately $35 million today. His highest earning season was during the 1991-1992 season with the Detroit Pistons, where he received $2.96 million, which translates to $5.15 million after adjusting for inflation.
Thomas’s career began when he was drafted as the second pick in the first round of the 1981 NBA draft by the Detroit Pistons. He remained with the Pistons for his entire career, from 1981 to 1994. He secured two NBA championships with the Pistons in consecutive years, 1989 and 1990. In addition to his championship titles, Thomas was a 12-time NBA All-Star, solidifying his status as one of the league’s premier players. While specific contract details beyond his annual salary are not publicly available, it’s evident that his consistent performance and leadership role on the Pistons contributed significantly to his earnings during his playing years.
Isiah Thomas’ Post-NBA Business Ventures
After retiring from professional basketball in 1994, Isiah Thomas embarked on a successful business career. He founded Isiah International LLC, a holding company with a diverse portfolio of businesses across various industries, including recycling and waste removal. The specific revenue generated by Isiah International LLC is not publicly disclosed, but its presence in multiple sectors indicates a substantial and diversified income stream.
In his hometown of Chicago, he manages Isiah Thomas Real Estate, which focuses on investing in distressed assets with the goal of revitalizing communities. Through strategic development partnerships, he has developed retail, hotel, parking, and residential real estate assets. The specific locations and values of these properties are not publicly available, but these investments contribute significantly to his overall net worth.
Thomas is also the majority owner of American Speedy Printing Centers Inc. He played a crucial role in guiding the company out of bankruptcy and transforming it into one of the largest printing franchises in the nation. While the exact financial details of his ownership stake and the company’s annual revenue are not public, this venture has undoubtedly been a significant contributor to his financial success.
From 1999 to 2002, Thomas served on the Board of Governors of the Chicago Stock Exchange, becoming the first African American to hold this position. While this role did not directly contribute to his business ventures, it provided valuable experience and connections in the financial world. In 1994, Thomas became the Executive Vice President of the newly formed Toronto Raptors expansion team. As part of his compensation, he was granted an option to purchase 4.5% of the team at a below-market rate as a bonus/incentive. A few months later, he purchased an additional 4.5%, bringing his total stake to 9%.
In November 1997, Thomas stepped down as General Manager of the team after a period of lackluster performance. Shortly before stepping down, he was offered a multi-million broadcasting job with NBC. A year prior to his departure, Thomas attempted to buy out the team’s majority owner, Allan Slaight, who held a 79% stake at the time. After the failed takeover, relations between the partners deteriorated.
In 1998, Slaight and Thomas reached a settlement agreement for Isiah’s 9% stake on undisclosed terms. However, a year earlier, another partner, John Bitove, sold his 39% stake to Slaight for $65 million. This transaction valued the entire team at $166.7 million, representing a $40 million increase over the team’s initial expansion fee. Based on this valuation, Isiah’s 9% stake would have been worth approximately $15 million.
In 2000, Isiah Thomas became the head coach of the Indiana Pacers, a position he held until 2003. Specific salary details are not publicly available, but NBA head coaching positions typically command substantial compensation packages. From 2006 to 2008, he coached the New York Knicks, and from 2009 to 2012, he coached at Florida International University. In 2015, he was named President of the WNBA’s New York Liberty. Currently, he is an NBA broadcaster for NBC TV, which provides an additional source of income, although the exact amount is not disclosed.
