Ever hear the saying, “Don’t put all your eggs into one basket?” Those are wise words to live by, especially in terms of finances. It’s worth having multiple revenue streams even if you have a well-paying job because you never know when something won’t work out. Diversifying your profile, as the experts call it, will either offer a nice little cushion when you retire, provide some form of passive income, or act as a safety net when things don’t go as planned.
Celebrities of all kinds understand this fact of life, which is why so many invest in different business ventures. Arnold Palmer, Evander Holyfield, George Foreman, Mark Wahlberg, and so many other big names put money into separate businesses to ensure their continued success. Many major league athletes, especially NBA stars, own car dealerships all over the country. It makes sense too, since multiple leagues have official cars. Honda is the official car brand for hockey and Kia remains the official brand for the NBA.
It’s interesting then, that several NBA legends go on to own their own Toyota dealership. Perhaps they’re impressed with some of Toyota’s most reliable models or maybe they owned a Toyota and just really enjoyed their experience with it. Michael Jordan owns a Nissan dealership in his home state of North Carolina. Read ahead to see which NBA stars own a Toyota dealership.
1. Jamal Mashburn
Jamal Mashburn started his professional basketball career in 1993 playing for the Dallas Mavericks, where he was the fourth overall pick in the first round of the draft. He had a successful ten-year career with the NBA, playing for the Mavericks, Miami Heat, and finally the Charlotte Hornets. He even followed the Hornets when they moved to New Orleans in 2002. However, even during his time with the NBA, Mashburn was looking ahead to his life after basketball. He understood that nobody gets to play the game forever and he could live off of what he made with the sport for so long.
So, Mashburn assembled a team of like-minded professionals to create and develop an impressive business portfolio. It started with one and gradually grew into an empire of more than 80 businesses, including a slew of dealerships across the state of Kentucky. Several of which is are Toyota dealerships. He also has a stake in numerous Papa Johns restaurants, Dunkin Donuts, and a real estate business.
2. Damian Lillard
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Damian Lillard, who, as of this writing, is a Point Guard for the Milwaukee Bucks, joined the list of NBA legends to own a car dealership. In 2020, he went into business with his good friend Brian Sanders and opened up what is called the Lillard Toyota Campus. Lillard might be playing in Wisconsin, but he showed some love to the first NBA team that gave him a chance as he opened his dealership in McMinnville, Oregon, just outside of Portland, home of the Trail Blazers.
On top of finding some of the most reliable Toyota hybrids there, Lillard littered the place with basketball memorabilia and games to give car shoppers a break from the typical car dealership atmosphere. Furthermore, the dealership breaks the mold by offering its patron freshly baked donuts every day that it makes in-house. No, these aren’t donuts somebody runs out and brings back. Not only that, there are a few small table games for customers to play like ping-pong to help them kill the time while they wait for paperwork to go through.
Lillard wanted to really give back to his community by offering something a little different: The Damian Lillard Toyota VIP Club. Anyone who buys a car from Lillard’s Toyota dealership automatically joins the VIP Club, which grants them access to certain events as well as chances to win Portland area concert tickets and meet-and-greets.
3. Karl Malone
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This NBA all-star has an extensive list of accolades, including two Olympic gold medals and a spot in the NBA hall of fame. While Karl Malone was an exceptional basketball player, his business acumen has been just as prosperous. After 19 seasons, Malone retired from the NBA in 2005 and just five short years later, he started up the Karl Malone Auto Group in Draper, Utah. Draper became home to Karl Malone’s Body Paint –a Toyota Certified collision center– M&M Automotive, and Karl Malone Toyota Draper, fulfilling a full suite of needs for automotive consumers and Toyota owners.
Utah isn’t the only state Malone owns a Toyota dealership where you can find a hidden gem either, as his Arkansas and Louisiana locations also hold Toyota dealerships. Anyone who works under Malone know him as “Disneyland Dad” because of his generosity. Most might expect a business owner like a former NBA star to be hands-off with their role, letting the managers do all the work, but Malone commonly visits his numerous locations and gets to know the employees. He goes as far as to personally deliver their bonuses and even helps with closing deals at his many dealerships.
