Kevin Durant’s $1 Million Investment To Yield Off $15 Million As Uber Buys Postmates

by Duke Magazine

Two-time NBA champion, Kevin Durant, has proven his entrepreneurial skill goes beyond playing on the basketball court as his proceeds from his investment in restaurant delivery service, Postmates has mature to a whooping sum. 

Over the years, Durant’s VC, Thirty Five Ventures, has invested over $15 million into 40 plus startups, one of those startups being Postmates.

According to Nothing But Nets,  Durant in 2016 invested $1 million in Postmates after spending the day endorsing the company as a bicycle deliverer.

Forbes later reported that his investment would soon yield him a $15 million payday, if Uber went through with the acquisition. Fast forward to earlier this week and Uber Technologies announced it would be acquiring Postmates in a $2.65 billion deal.

On the Forbes’ list, Durant ranks No. 7 of the world’s highest-paid athletes, with an income of $64 million in the last one year. Throughout his NBA career, Forbes reports Durant has made $500 million off his salary and endorsements.

The NBA MVP shows no signs of stopping as he continues to expand his portfolio with investments in the Major League Soccer’s Philadelphia Union franchise, where he acquired 5 percent of the soccer club, with the option to purchase an additional 5 percent in the future.

Meanwhile, Forbes reports that Durant is itching to acquire his own NBA team in the future. Considering that the average team is worth $2.1 billion, it’s likely that he will be looking to add more big wins to his portfolio sometime soon.

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