Entrepreneurship

How A Former NBA Player Turned $350,000 into $400 Million

How A Former NBA Player Turned $350,000 into $400 Million

By Lechette Walker

A retired NBA player made a wise investment that made millions for him years after his time spent in the NBA. Ulysses Lee “Junior” Bridgeman has demonstrated smart wealth building tactics that built his personal net worth to $400 million. He was born in Chicago where he played basketball all through his high school years. He continued playing basketball throughout college at the University of Louisville, where he graduated with a Bachelor’s degree.

Bridgeman was drafted by the Lakers in 1975, and he ended up being traded soon after to the Milwaukee Bucks. During his NBA career players didn’t have multi-million dollar NBA player contracts. Most of the players that made a lot of money received fortunes from endorsement deals. In 1985 Bridgeman’s peak salary was $350,000 during the time he played for the Clippers.

During the off seasons, Bridgeman started to plan for his future by learning the Wendy’s franchise business. He spent a lot of his time working at a local Wendy’s to learn the true culture of the company. At the end of his NBA career, Bridgeman owned three Wendy’s, and now he has over 160 locations. He also invested in the Chili’s franchise, owning more than 120 in America today.

Bridgeman is now the second largest Wendy’s franchise owner in the world. His contribution to his family started with his passion for basketball that transformed smart investments to immense wealth. Brickman has been married for 35 years showing his commitment to family and success.  All three of his children have MBAs and are contributors to the family business. His success is measurable and proactively engaging to all that has seen his progressive growth. He took the hand that was dealt to him and made good choices that resulted in major accomplishments.

Source

  • Entrepreneurship

    Lawrence Watkins is the founder of Great Black Speakers, FlexPads, and co-founder of Watkins Media Group. He writes because he feels like it makes him a more productive entrepreneur and hopes that others can learn from his journey. Lawrence has a B.S. in Electrical Engineering from the University of Louisville and an MBA from Cornell University. He is also a member of Management Leadership for Tomorrow and The Young Entrepreneur Council.

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