Team Frugal: Kevin Durant
Being frugal is about more than being stingy with your money. It means being prudent, smart and economical with your finances and career decisions. Every Tuesday, we share profiles of athletes that exemplify what it means to be A Frugal Athlete.
Kevin Durant is more than just a superstar athlete and future hall of fame basketball player. He is also a savvy businessman. I know what you might be thinking, Durant can’t really be considered a frugal athlete when he has an NBA salary of over 25 million dollars and that isn’t even touching his endorsements and other streams of revenue in his portfolio. I beg to differ though, if you watch Durant closely and some of the moves he has made in his career he is exactly what being a frugal athlete is all about.
Durant could easily throw money into different ventures and not feel the losses like the regular person would but Durant does his homework. He and his business partner, Rich Kleiban, take advantage of the prime location of his Warriors being in Silicon Valley. He regularly meets with different VC executives to learn and understand different trends happening. His foresight and aggressive approach to learning from different mentors has served him right with early investments in Acorns, The Player’s Tribune and Postmates.
Kevin Durant has used his location and stardom to build his brand and help other athletes build their platforms as well. He has his own VC fund, a non profit foundation, and media company that he partners with youtube to engage with fans via video and helps other athletes build their own platform.
These are examples of how Kevin Durant is a frugal athlete. It’s important to understand that although you may not have as much money as Kevin Durant you can still take advantage of your resources. Whether it’s finding a mentor in a field you are passionate about or using a friend to help you get your project up and running.