How Did He Make Over $200 Million?

Publish date: 2024-07-28

Derek Sanderson Jeter popularly known as Derek Jeter is a 49-year-old one-time American baseball player, entrepreneur, and baseball executive whose net worth is currently evaluated at $200 million. Jeter earned a fortune from his 2-decades old career with the New York Yankees which saw him playing 2,747 games from 1995 until his retirement in 2014. He reportedly made $265 million from salary and approximately $150 million from endorsements, which totaled $415 million in career earnings.

Additionally, he has invested millions of dollars in real estate and in a couple of businesses, including a previous 4 percent share in MLB team Miami Marlins, which he sold in 2022.

Inasmuch as he loves making money, he is also passionate about giving back to society. In 1996, the New Jersey-born started the Turn 2 Foundation which has been raising funds to support young people in turning away from drugs and alcoholism.

Personal Profile

Table of Contents

How Derek Jeter Made A Fortune From His 2-Decades-Old Baseball Career With The New York Yankees

As captured, Derek Jeter’s net worth is currently put at $200 million. The bulk of the money comes from his 20-year-old career with the New York Yankees of Major League Baseball, and also from various investments in businesses and real estate.

Derek Jeter who was born on June 26, 1974, in Pequannock, New Jersey, and raised in Kalamazoo, Michigan, started playing baseball in high school before he was offered a baseball scholarship by the University of Michigan. In, 1992, he was selected by the New York Yankees in the 1992 MLB draft who signed him for $800,000 after he went pro.

Subsequently, Jeter and the Yankees reached an agreement on a $540,000 deal, including bonuses before the start of the 1997 season, and earned $750,000 in the following year. Similarly, his salary grew to $5 million before the beginning of the 1999 campaign and was offered a one-year contract worth $10 million during the 1999-2000 offseason.

Shortly before the commencement of the 2001 season, the New Jersey-born signed a 10-year $189 million contract. The deal made Jeter the second-highest-paid-athlete in all team sports and auto racing, and his $18.9 million annual salary is the third highest in baseball.

At the expiration of his contract, he signed another three-year $50 million deal with an option for an additional one-year option at the end of the 2010 season. By 2014, he re-signed a one-year deal worth $12 million.

At the end of his baseball career in 2014, celebritynetworth.com and wealthygorilla.com indicated that Derek Jetter earned $265 million in salary alone.

The New Jersey-Born Also Earned Millions Of Dollars From His Lucrative Endorsements

Outside baseball, endorsement deals also contributed significantly to Derek Jeter’s net worth. According to reports from multiple credible sources, the former baseball shortstop earned approximately $150 million from his lucrative endorsements before his retirement in 2014.

During that period, Jeter had deals with Nike, Gatorade, Steiner Sports, Mavodo, Rawlings, 24-Hour Fitness, and Avon Products, and also signed a partnership deal with Luvo. Others include Discover Card, Fleet Bank, Visa, Ford, and XM Satelite Radio.

Derek Jeter’s Other Sources Of Income

Even though he earned majorly from his baseball career, a part of Derek Jeter’s net worth emanated from his other sources of income such as businesses and real estate.

In terms of business, the 49-year-old was part of a group of investors, including Bruce Shgerman that acquired the MLB team Miami Marlins for $1.2 billion in August 2017. He was said to have invested $25 million for a 4 percent share in the team. In 2022 after five years, he sold his 4 percent stake for $44.8 million.

In the 3rd quarter of 2022, Jeter alongside Brian Lee,  and Jesse Glass, partnered and launched Arena Club, a card grading and selling firm.

Sometime in 2013, he partnered with Simon & Schuster to start a publishing outfit called Jeter Publishing. The outfit deals mainly with adult non-fiction titles, children’s picture books, and middle-grade fiction. So far, they have published several books such as JETER Unfiltered, Seeing Home: The Ed Lucas Story, and Born Just Bright By Jordan Reeves & Jen  Lee Reeves.

He also founded a website called theplayerstribune.com in October 2014 which provides content on basketball, football, soccer, hockey, and baseball. Toward the end of 2019, the site was reported to be acquired by Minute Media, but Jetter will still be involved in the process as one of Minute Media’s board of directors.

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A Look At His Real Estate Investments

Derek Jeter is a big money spender when it comes to houses. He has invested millions of dollars into buying luxury mansions. Starting in 2001, he paid $12.6 million for a penthouse in Trump World Tower in Manhattan, listed the apartment in 2010 for $20 million, and sold it in October at $15.5 million.  In 2003, he bought a 4-acre property in Greenwood, New York at $425,000 in 2003, and put it on the market in 2018 for $14.75 million after major renovations. However, the asking price was reduced to $12.75 million in 2021 and is currently in the auction with an opening bid of $6.5 million.

In 2011, he built a 22,000-square-foot waterfront mansion called “The Jeterburg” in Tampa, Florida. The home was listed for $29 million in September 2020, and sold for $22.5 million in May 2021.

Furthermore, he bought a 2-acre waterfront undeveloped area in Coral Gables, Florida for $16.6 million, and while it is being developed, he lives with his family in another property in the area which paid $6.5 million to acquire in 2018.

Apart from all these, reports indicated he has a house in Marlboro, New Jersey, but it is under the radar, so, there isn’t much information about it.

How The Former Yankees’ Shortstop Spends His Money

As indicated, Jeter spends lavishly on houses. This is evident in the huge amounts he has spent on buying properties. Put together, these homes are worth more than $50 million.

Besides, he has a fleet of some of the most expensive cars that include Mercedes and Porsche.

Another area where the former baseball player doesn’t mind putting his money is charity. In 1996, he founded the Turn 2 Foundation to help people, especially the youth to stay away from drugs and alcoholism. Since then, the foundation has donated more than $30 million to fund its programs and other organizations.

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