Stephen Curry is the NBA’s latest revolutionary. Teams shooting record amount of threes, positionless basketball, stepping away from static, iso oriented basketball – it is all a merit of the Golden State Warriors’ superstar. And let me tell you, he sure cashed in on his influence.
With a net worth of approximately $130 million, Steph is 15th on the list of wealthiest basketball players in the world. The 19-20 NBA season alone brought Curry roughly $85 million, which makes him the second-highest-paid NBA player in the world, according to Forbes. Curry’s $40.2 million salary with the Warriors is the highest in the history of the NBA, however, NBA arenas aren’t the only place Chef Curry is cooking his magic.
Living in the Bay Area, Curry has been sucked into a world of high-tech, innovation, and venture capital. Curry’s company, SC30, is responsible for Steph’s complete off-court business portfolio.
The company’s portfolio includes a wide range of businesses. Thus SC30 invested in the esports organization called TSM as a part of $37 million Series A Funding. Curry is also an investor and advisor for Palm, where he is actively involved, from helping to name and create the product to designing and testing accessories. He can talk about Palm like their software developer. After all, Curry has been with Palm basically from the beginning, as he helšed develop an idea into a product. The Palm device intends to serve as a complement to oversized smartphones. It can also be synced to smartphones, allowing users to take the smaller device on the go when only certain functions are necessary.
SC30 has also invested in Canadian travel startup SnapTravel, which ‘utilizes artificial technology algorithms to assist the technology-savvy consumer to find and secure hotel deals in a different way than they have been used to.’ It currently works with Facebook Messenger, WhatsApp, Alexa, and iMessage platforms. The company was founded in ’16 and already operates in 150 countries and has converted $50 million in hotel sales in ’18. The first time guys from SnapTravel discussed the project with Steph was during the ’16 NBA Playoffs. Fast forward two years later, a 2xMVP has become their strategic investor.
Another one of Curry’s investments was Guild Education. Guild is at the forefront of the Future of Work, partnering with Fortune 1000 companies and non-profit universities to offer education benefits to their employees, with a focus on frontline workers. They partner with America’s largest companies, including Walmart, Disney, Discover, Taco Bell, and Chipotle. And in ’19, Curry became the company’s investor, with a mission to ‘emphasize the importance of college education and college completion.’
His latest business outing is Curry becoming an equity partner with Oxigen a beverage company that makes premium water that’s supposed to assist in muscle recovery. By using his name and image, Steph wants to ‘make sure that people understand the benefits that the product brings to you beyond just the taste‘ all with an end goal of shifting the mentality to being health-conscious and making your well-being a priority.
In terms of endorsement deals, JPMorgan Chase unveiled their partnership with Stephen Curry, right after announcing a naming rights deal for the Golden State Warriors’ new arena. Curry signed a multi-year deal, with its exact worth being unknown.
Japanese electronic commerce and online retailing company Rakuten also announced their partnership with a 3xNBA champion back in ’19. The partnership includes a multi-year agreement with Curry that appoints him as Brand Ambassador, with a special focus on the United States. Rakuten will also be named the title sponsor of Curry’s first-of-its-kind basketball camp for overlooked prep athletes, ‘Underrated Tour, powered by Rakuten.’
It’s no secret that Steph is a golf enthusiast. Well, in ’19, he entered into a unique partnership with the leading golf equipment manufacturer, Callaway Golf Company, after having an informal relationship with them for years. Together, they have committed to partnering on various initiatives Curry will undertake with a strong focus on expanding the game by making it more accessible to underserved and underrepresented youth¸¸.
Steph is also following LeBron’s and KD’s footprints, as he has also co-founded a media company called Unanimous Media. Jeron Smith is the company’s CEO and a man behind all projects, including dabbling in movies and TV shows and scouting locations overseas for Curry’s “Underrated” basketball camps through Rakuten. Unanimous Media is founded on the principle that faith stories, in particular, can make a positive impression on audiences whether those audiences, regardless of their faith backgrounds. Breakthrough, a family drama about the power of prayer, was the company’s debut production, but the Unanimous pipeline is diverse: there’s a faith-adjacent romantic comedy in the works, a sports television show, and even some projects related to VR.
Nevertheless, the biggest source of Curry’s off-court income remains his shoe deal with Under Armour. Half of his $45 million in yearly off-court earnings comes from his endorsement deal with UA, putting him fourth on the NBA’s richest shoe deals list. Curry is still on the deal he signed in ’15 – reportedly around $20 million annually through ’24. When he first got into the league, Steph went with Nike. But when it was time to resign the young star, a shoe giant made a horrible pitching mistake. First, they addressed Stephen as Steph-on. Then a Powerpoint slide featured KD’s name instead of Curry’s. They also didn’t mention making Curry a signature athlete and also declined to give him his own camp — those went to Kyrie Irving and Anthony Davis instead. It all resulted in Nike losing Steph in embarrassing fashion, which cost the company billions in potential revenue and altered the landscape of the basketball merchandise market.
But in the end, it all turned out great for Steph. He’s sitting on a huge deal with Under Armour, has his signature shoes, and is the face of the company. He’s also involved with many different off-court projects, as he’s slowly making a transition into a world of business. What are the financial benefits of such outings – is yet to be seen. What we do know is that in his first decade in the league, Curry earned roughly $130 million. His shoe deal will bring him approximately $90 million more, with his off-court earnings going north of $250 million by ’24. And that’s the most pessimistic prediction. Whatever the case may be, one thing’s for sure; Steph is utilizing his basketball greatness the best way possible.