Prominent & Series: Metta World Peace

For professional athletes, financial success is not just about signing major contracts or ending beginners, but it is about making intelligent decisions that transform short -term income into long -term prosperity.

In this series I interviewed athletes and entertainers about how they navigated the financial highs and depths of their career – of the great payments, the unexpected setbacks and the strategies that helped them build up something permanent.

I recently caught up with the former NBA all-star Metta World Peace, who played 17 seasons in the league and won a title at the Los Angeles Lakers.

Metta's journey reminds us that the construction of a wealth begins with the establishment of the right basis when he reminds of a shift to Circuit City during his rookie year up to the administration of his growing portfolio.

Evan Vladen: You were mathematics major at St. Johns and led the team to March Madness Elite as the second zero deal. What did people around them say when they decided to get into the NBA design to make the money?

Metta world peace: Some people were excited, others said exactly: “Wow, you will make a lot of money.” I only thought of basketball.

EV: With the Chicago Bulls you signed a four-year rookie contract for $ 5.3 million and then seriously applied for a job at Circuit City! They even reported to a shift – and they were able to take advantage of the employee discount. … everything to keep you ground. How did you suddenly get money in a big city at the age of 19?

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MWP: It was a little shocking, but it also let me help my family. I didn't buy any striking things – mainly houses and things for my family. Thinking of thinking and how they have been raised, determine how you feel when this first check comes.

EV: How difficult was it to say no to people who ask for help?

MWP: No, it is not the difficult part – the difficult part is not to help. Currency leads the world and they have humanity. If you have not come from a large amount of prosperity or if you come from the fight, always think about helping your friends. I think more than say: “No.” It's about helping others.

EV: Did you have a support system early? How did you build your professional team?

MWP: I always had support at home. But when you make it, new people appear – people who understand how to expand prosperity or offer them opportunities.

In the end you have different support systems – your family, friends and your support to help you increase prosperity. And there is a fourth – the one you probably misunderstood – every athlete is different, but you probably didn't evaluate who should be enough in your team. It's a fight [evaluating] The professional support system and people who say that they understand how to manage capital. You can do it right or misunderstand that.

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EV: Experience she teaches. What did you learn to set up the right team?

MWP: Sometimes you can misunderstand with those who are definitely not friends. These would be called “hanger-on-hez”. I think I did it right. But what I think I made myself wrong [early on] For me was a catered group and confused managers for partners.

A rookie -nba athlete is a family office today. You are building it from day one. You need partnerships, not just managers. Imagine someone convinced Zuckerberg not to build Facebook. You need people who drive their vision and not just collect checks. Look at LeBron – he authorized his circle in real partners. This is critical thinking that athletes need more – use their own equity to build up their empire.

EV: When do you seriously invest?

MWP: 2014.

EV: Not during your game days?

MWP: Before 2014 I invested arrogant and emotionally and thought I knew everything without carrying out real analyzes. After 2014 I moved to the investment with a mission, not just with emotions and mixed DNA with logic.

EV: Where did you put money before this shift?

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MWP: Mostly real estate. High -ranking accounts. Some indices.

EV: Did you have consultants who helped you early?

MWP: In the middle of my career, yes. I hired a great business manager and that changed everything. Before that, basketball was my focus. Later I started thinking about cash flow and long -term savings.

EV: After the malice in the palace in 2004, they experienced one of the longest suspensions in NBA history. The time of the game during this suspension was without payment. … Did that change your financial approach?

MWP: Absolutely. It happened quickly – no more income overnight. I hadn't expected that – on the same day – nothing else [coming in cash]. That was really surprising. I even thought about a job to look for a job again. It put the cash flow real perspective.

EV: When you won a championship with the Lakers, they gave one Emotional postgame interviewI thank your psychologist and live in the air. You later auctioned your 2010 championship ring for 651,000 US dollars to benefit charity organizations for mental health, including your non -profit organization. In your experience, how much does it look like a decision -making decisions for mental health?

MWP: Money gives them access. You can get everything you can dream of. How to deal with this emotion. Every aspect of output triggers something in you. If your decisions are not based on humanity or mission, you have to address them.

EV: I know Test your size With your company AMG. One of the panels presented is financial therapy, followed by learning meetings for sports financing, logistics, consumer brands, sports technology, healthcare and art. What was the biggest hour of money you learned?

MWP: You can multiply it. If you are young, don't really believe that you can have a skyscraper. It's just so strange. But when you get older, it is like “Oh, I could actually own [a skyscraper]. ““ It is the lesson of the possibilities and able to start somewhere.

EV: What is the best financial advice you can give an NBA rookie?

MWP: Make decisions based on a mission not on emotions.

EV: After retirement, you introduced the Artest Management Group (AMG), invested in startups and advised for dozens of companies. Then they started Tru Skye Ventures, a fund that aims to collect $ 100 million for early stages investments. Was there a turning point you knew: I do that next?

MWP: I wanted to build something. I took digital marketing and analysis courses at the UCLA extension. I knew I had to learn operations. I realized that my face was not worth much unless I added the operational value. I added my face where I now managed 40 portfolio companies. That is worth.

EV: Talk about AMG's model.

MWP: AMG mixes advice, advice and services. I have equity in sports, a service business for cash flow and diversified investments. In the beginning I rejected a lot of appearance to concentrate on building the operations.

EV: How big is the vision with Tru Skye, how big is the vision?

MWP: The goal of Tru Skye is to collect 100 million US dollars for consumer sports technicians and brands. AMG is aiming for 1 billion US dollars. We select sectors in which our services can give a real value.

EV: Last year they invested in Barcode, the hydration drink, which superstar Victor Wembanyama also supported. Why this brand?

MWP: Mubarak Malik, a former Knicks coach who became an entrepreneur, is behind it. I also trained under him when I was with the kinks. It is great to have the opportunity to support a new founder who inserts a lot of work. … it's also a great product. It fits our thesis among the funds.

EV: What does your family office structure look like today?

MWP: We are no longer stored. We do everything in our own house-in our own auditing company. We build a real apartment office, a page that offers services and another that offers private equity management. That is phase one. We are already planning two and three phases.

EV: Ultimate Business goal?

MWP: The goal is to be part of the private equity ecosystem, not from the private -equity ecosystem, not someone who wants to appear to record autographs. Someone who wants to create and commercialize partnerships.