Net Worth Ranker
What Is Michael Redd Net Worth?
Michael Redd, a retired American professional basketball player, has an estimated net worth of $30 million as of 2024. His wealth is primarily attributed to his successful NBA career, enhanced by strategic business ventures and investments made post-retirement. Redd’s financial achievements reflect his prowess both on and off the court, transitioning from a celebrated athlete to a savvy entrepreneur and investor.
NBA Career Earnings and Contract Details
Redd’s NBA career spanned 12 seasons, during which he amassed significant earnings through contracts and endorsements. Spotrac.com and HoopsHype.com estimate his total career earnings to be approximately $101,991,325. A defining moment in his career was a 6-year contract signed in 2005 with the Milwaukee Bucks, valued at $91 million. This contract solidified his financial standing and provided a platform for future investments. His peak salary reached $17 million annually, marking him as one of the top-paid players during his prime years. Detailed salary information from HoopsHype indicates consistent high earnings during his time with the Bucks:
- 2007/08: $14,520,000
- 2008/09: $15,780,000
- 2009/10: $17,040,000
- 2010/11: $18,300,000
In his final season (2011-2012), Redd played for the Phoenix Suns under a 1-year contract worth $1,308,506.
Early Life, Career Beginnings, and Key Milestones
Born on August 24, 1979, in Columbus, Ohio, Michael Redd’s journey to NBA stardom began at West High School, where he honed his basketball skills. He continued his basketball career at Ohio State University from 1997 to 2000. During his time as a Buckeye, Redd consistently showcased his scoring ability, averaging 21.9 points in his freshman year, 19.5 points in his sophomore year, and 17.3 points in his junior year. In 1999, he helped lead Ohio State to the NCAA Final Four. Despite being drafted as the 43rd overall pick in the second round of the 2000 NBA Draft by the Milwaukee Bucks, Redd quickly proved his worth, exceeding initial expectations.
Key milestones in Michael Redd’s career include:
- NBA All-Star selection in 2004
- All-NBA Third Team honors in 2004
- Gold medal at the 2008 Beijing Olympics as part of the U.S. national basketball team
- Scoring a career-high 57 points in a 2006 game against the Utah Jazz, breaking the Milwaukee Bucks’ single-game scoring record
- Setting an NBA record for most three-point field goals made in one quarter, with 8 against the Houston Rockets on February 20, 2002
Post-Retirement Ventures and Investments
Since retiring from the NBA in 2013, Michael Redd has successfully transitioned into the world of business and investments. He founded 22 Ventures, an investment firm focused on supporting entrepreneurs and growing companies in the tech and media sectors. As of 2020, Redd had contributed to investments in over 85 companies, including several startups in the media and technology space. Redd also serves as a Venture Partner at ADvantage SportsTech Fund, where he focuses on early-stage tech companies in the sports industry, including those involved in data analytics and athletic performance technology.
Some of Redd’s notable ventures and investments include:
- 22 Ventures: An investment firm founded by Redd to invest in people and grow companies, with a focus on an “empathy economy” that cares for the person as well as the return on capital.
- ADvantage SportsTech Fund: A venture capital fund where Redd serves as a Venture Partner, investing in early-stage sports tech companies.
- The Wave Venture Innovation Group: Founded after his retirement, this group operates in the tech and media sectors.
- Azoti: An investment in this Ohio startup connects producers and buyers of food.
- SnapChat’s Yellow incubator: Serving as a mentor and investor.
Philanthropy and Personal Life
Michael Redd’s commitment to his faith is evident in his philanthropic endeavors. After signing his $91 million contract, one of his first acts was to purchase a church building for his father’s ministry, the Philadelphia Deliverance Church of Christ in Columbus, Ohio. He also serves as a National Advisory Board Member at The Salvation Army, demonstrating his dedication to community service and charitable causes. Redd currently resides in New Albany, Ohio, and is actively involved in various initiatives aimed at fostering entrepreneurship and economic development.
Redd also hosts the “Betting on Yourself” podcast, where he interviews successful entrepreneurs and athletes, exploring their journeys and the risks they took to achieve their goals.
