Shedeur Sanders’ financial goals are bold, but not unheard of.
“It starts with a B and ends with an E,” Sanders, the 22-year-old son of NFL Hall of Famer Deion Sanders, said in an interview. “Billionaire. That’s what it should be.
Billionaire athletes are rare. Michael Jordan sold his stake to the Charlotte Hornets for $3 billion. LeBron James had a net worth about $1.1 billion, according to the Bloomberg Billionaires Index.
The younger Sanders is already known among college football fans as a star quarterback at the University of Colorado, where his father is entering his second season as a the head coach. He took advantage of this fame by using a large online tracking — including 1.8 million on Instagram — to sign deals with Nike and other brands worth an estimated $4.7 million, according to On3.
This tied Shedeur for first place among college athletes with Bronny James, another son of a superstar athlete (LeBron). And Shedeur’s stardom is likely to continue to rise and he is expected to become one of the top picks in next year’s NFL draft. If so, he’ll start a clothing brand called Legendary to introduce fans of his new team.
Shedeur recently spoke to Bloomberg about crypto mistakes, partnering with his father, and other investment advice, as part of Lessons and investments, a new series of short videos where athletes, commentators and investors talk about their best and worst investments. The series stars the boxing champion Terence CrawfordSuper Bowl champion Michael StrahanOlympic gold medalist Sydney McLaughlinSan Antonio Spurs basketball player Victor Wembanyama and more.
So far, you’ve made some spectacular purchases, like that big gold chain you’re wearing and a Rolls-Royce. Looking back, do you regret this type of expense?
My channel, every time I watch it, inspires me. I love my cars every time I get in them. This inspires me.
Does your father give you financial advice? Do you offer any offers?
My dad and I just did something that was about 100 acres. I was never going to buy something small. My dad always had something like 100 or more, which was the norm, so why should I do anything less?
ALL RIGHT. But do you always follow what he says?
I did it Dogecoin. And my dad said to me, “What are you doing with this?”
I invested about $3,000. It felt like 2021 during the summer. It went all the way. I had won $7,000. Man, he crashed. I check it from time to time. I lost $2,000. I wish I had taken it out and listened to my dad when he told me. He said to take it off right away. But I did not do it.
What advice would you give to those navigating this relatively new era where college athletes are allowed to accept endorsements via image and likeness (NIL) agreements?
Understand that taxes are real. You will have to pay taxes. You can have as much fun as you want because you’re going to have to get it out of your system, but know that taxes aren’t playing games with you.
What would you like to invest in?
Nothing. I never have regrets because I really stay there and think about everything. The most important thing in life, and what people don’t understand, is to invest in your stocks. It’s the only brand you can control. If these people lose your stocks, they don’t care about your money. You care about your money. If you invest in yourself and fail, it’s your fault. So that’s the main thing.
Invest in yourself. Invest in what will make you successful.
Editor’s note: This interview has been edited and condensed.
