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Former Laker star Luol Deng has had an illustrious career outside the court of basketball. Following Hakeem Olajuwon's similar path, Deng amassed multi-millions through his real estate investments.
Deng, the former NBA small forward renowned for his tenure with the Chicago Bulls, has transitioned seamlessly from the basketball court to the domain of real estate. He has now established a remarkable real estate empire, just like Hakeem Olajuwon.
Despite an impressive 15-season career in the NBA, Deng's focus has shifted decisively towards the accumulation of a diversified real estate portfolio, comprising both residential and commercial properties.
With keen market insights and astute deal-making, Deng's real estate holdings are currently estimated to be worth a staggering $200 million as per Celebrity Net Worth. During his interaction with Kurt Badenbnausen of Forbes, Deng mentioned:
“If you know the market and you are using your leverage and doing the right deals, it is really nonstop with the opportunities.”
Whereas, the two-time NBA champion, Hakeem Olajuwon has successfully transformed his skills in flipping properties in his adopted hometown into a net worth exceeding $300 million.
Olajuwon has honed a strategy focused on acquiring properties with potential for further development, such as parcels of land near Houston’s light-rail line, in the Texas Medical Center, and close to the Houston Astros' Minute Maid Park.
Additionally, he has engaged in buying and selling centrally located properties near major intersections and highway exits. Collaborating with his advisors, Hakeem Olajuwon meticulously analyzes satellite views of Houston and traffic patterns to identify lucrative investment opportunities.
How Hakeem Olajuwon and former Laker, Luol Deng acquired fortunes through real estate
Hakeem Olajuwon and Luol Deng have both utilized their success in professional basketball to build impressive real estate empires. Olajuwon, a retired basketball legend known for his successful NBA career, stands out for approaching real estate investments with a unique perspective influenced by his Muslim faith.
His real estate portfolio includes a diverse range of properties such as the World Trade Center, the Houston Federal Reserve building, a historic downtown building that he converted into a mosque, and an abandoned shopping mall.
Olajuwon's faith prohibits taking loans, avoiding credit risks and interest rates. This approach, combined with strategic investments such as acquiring 41 acres near the NASA space station and converting it into a retirement home, has played a central role in growing his real estate investments to a net worth of $300 million by 2006.
On the other hand, Luol Deng, the former NBA player, has also established an impressive real estate portfolio alongside his successful basketball career. Deng's investments range from hotels, resorts, condos, and apartment buildings to multifamily units in various locations including Baltimore and the Virgin Hotels Las Vegas.
He has further utilized his influence and resources to contribute to Opportunity Zone investments, partnering with other NBA stars to leverage capital gains and invest in projects or companies in designated low-income areas.
Deng's commitment to real estate investments during his active playing career sets him apart, showing a remarkable level of sophistication and foresight in building his real estate empire.
While their paths to real estate success differ, both Hakeem Olajuwon and Luol Deng have effectively leveraged their financial means, knowledge of the market, and strategic partnerships to amass significant real estate wealth.
Their proactive approach to real estate investment serves as a testament to their business acumen and the potential for athletes to achieve long-term financial success beyond their sports careers.
Guess the Lakers players!
