When we think of Olympic athletes, we often imagine the glory of standing on the podium, national anthems playing, and medals being awarded. However, for many, the financial rewards from their athletic accomplishments may not be as substantial as you might think. Despite their achievements on the field, track, or rink, some athletes had to find new paths to wealth and success after their sporting careers ended. Here, we celebrate the stories of Olympic athletes who leveraged their skills, determination, and public profiles to build successful post-athletic careers.
Olympic Athletes Who Found Success Beyond Sports
Carl Lewis – Track and Field. (Estimated net worth = $8 Million.) Carl Lewis is one of the most decorated track and field athletes in Olympic history, with nine gold medals and one silver. Despite his sporting success, Lewis didn’t rely solely on endorsements for his post-athletic career. He ventured into acting and entrepreneurship, founding the Carl Lewis Foundation to support youth athletic programs. His investments and motivational speaking engagements have also contributed significantly to his wealth.
Shannon Miller – Gymnastics. (Estimated net worth = $2.4 Million.) Shannon Miller is America’s most decorated gymnast, with seven Olympic medals. After retiring, she pursued a law degree and became a strong advocate for women’s health. As a cancer survivor, Miller shares her journey through motivational speaking, writing, and her health and fitness advocacy organization, Shannon Miller Lifestyle. These ventures have established her as a prominent figure in health and wellness.
Apolo Ohno – Speed Skating. (Estimated net worth = $10 Million.) Apolo Ohno, an eight-time Winter Olympic medalist, transitioned smoothly from the ice rink to a diverse career. Ohno has become a media personality, appearing on shows like “Dancing with the Stars.” He also works as a motivational speaker and entrepreneur, co-founding a company focused on sports supplements. His ability to engage audiences and his entrepreneurial spirit have been key to his financial success.
Greg Louganis – Diving. (Estimated net worth – $2 Million.) Greg Louganis is often considered the greatest diver in history, with four Olympic gold medals. Post-retirement, Louganis became an advocate for LGBTQ+ rights and HIV awareness. He has authored books, worked as a motivational speaker, and continued to be involved in diving as a coach and judge. His advocacy and media presence have helped him achieve financial stability and success.
Rulon Gardner – Wrestling. (Estimated net worth – $5 Million.) Rulon Gardner’s unlikely victory over Russian legend Alexander Karelin at the 2000 Olympics made headlines worldwide. After his wrestling career, Gardner became a motivational speaker, sharing his story of perseverance and overcoming adversity. He also appeared on reality TV shows, including “The Biggest Loser,” which bolstered his public profile and opened doors to various business ventures.
Mark Spitz – Swimming. (Estimated net worth – $8 Million.) Mark Spitz, who won seven gold medals in the 1972 Olympics, transitioned into a successful career in real estate and investments. Spitz’s business acumen, combined with his motivational speaking engagements, has allowed him to maintain his wealth and continue to be an influential figure in the sports world.
Jim Craig – Ice Hockey. (Estimated net worth = $5 Million.) Jim Craig, the goaltender for the “Miracle on Ice” U.S. hockey team in 1980, found success in marketing and business. Craig founded a marketing firm and has become a sought-after motivational speaker, sharing lessons from his Olympic experience. His business ventures and public speaking engagements have significantly contributed to his wealth.
Mary Lou Retton – Gymnastics. (Estimated net worth = $2 Million.) Mary Lou Retton, the first American woman to win an all-around gold medal in gymnastics, used her fame to build a successful career in media and business. She has appeared in various television roles, endorsed numerous products, and become a motivational speaker. Retton’s entrepreneurial spirit and public presence have helped her achieve long-term financial success.
These athletes exemplify how determination, adaptability, and leveraging their public profiles can lead to significant wealth and success beyond their athletic careers. Here are a few ways you can find new paths to wealth and success after your playing career ends:
Leverage Your Personal Brand.
- Social Media Presence: Build and maintain a strong social media presence. Engage with fans and share insights into your post-athletic life.
- Personal Website and Blog: Create a platform to share your journey, experiences, and advice. This can also be a space to market your ventures.
Pursue Further Education and Training
- Higher Education: Enroll in programs that align with your interests and career goals. This could be a degree in business, sports management, or any field you’re passionate about.
- Professional Certifications: Obtain certifications relevant to your desired career path, such as coaching, financial planning, or personal training.
Explore Business Ventures
- Entrepreneurship: Start a business that aligns with your interests and expertise. This could be anything from a fitness center to a sports-related product line.
- Investments: Learn about investment opportunities and manage your finances wisely. Consider real estate, stocks, or even investing in startups.
Public Speaking and Media Engagements
- Motivational Speaking: Share your story and the lessons you’ve learned with audiences. This can be highly rewarding both financially and personally.
- Media Roles: Explore opportunities in broadcasting, commentary, or hosting. Many former athletes successfully transition to roles in sports media.
Stay Connected with the Sports Community
- Coaching and Mentoring: Use your experience to guide and develop the next generation of athletes. This can be done at the youth, collegiate, or professional level.
- Sports Administration: Take on roles within sports organizations, from local clubs to national governing bodies.
Write a Book or Create Content
- Autobiographies and Guides: Write about your journey, experiences, and insights. Books can be a significant source of income and a way to inspire others.
- Online Content: Create videos, podcasts, or online courses related to your expertise. This can generate revenue and expand your influence.
Utilize Networking Opportunities
- Build Relationships: Connect with professionals in various industries. Networking can open doors to opportunities you might not have considered.
- Join Organizations: Become a member of professional associations and groups that align with your post-athletic career interests.
Give Back to the Community
- Charitable Work: Establish or support charitable organizations. Giving back can enhance your public image and provide a sense of fulfillment.
- Community Involvement: Engage in community activities and use your platform to advocate for causes you care about.
Stay Healthy and Active
- Personal Health: Maintain your physical and mental health. This can be crucial for the energy and focus needed to pursue new ventures.
- Active Lifestyle: Continue participating in sports or fitness activities. This not only keeps you healthy but also connects you with potential opportunities in the fitness industry.
Seek Professional Advice
- Financial Advisors: Work with financial advisors to manage your wealth and plan for the future.
- Career Coaches: Consider hiring a career coach to help you transition smoothly and identify new opportunities.
By leveraging your skills, experiences, and networks, your can successfully transition to rewarding careers after your playing days are over. These strategies can help you build sustainable wealth and find fulfillment in their post-athletic endeavors.