Miami millions: Did former NBA star Dwayne Wade lose his net worth?
If you call him “D-Wade” “Flash,” or just plain, Dwayne Wade’s name holds significant value, not just as a player but in paper. Wade became one of pro basketball’s elite guards, leading the Heat to championships in 2006, 2012, and 2013.
Over his sixteen-year career, he has accumulated a large amount of wealth, but what is Dwayne Wade’s net worth now that he’s retired? Here’s what we know.
Born in 1982 in Chicago, Illinois, Dwyane Wade played at Marquette University before joining the NBA’s Miami Heat in 2003. Following late-career stints with the Chicago Bulls & Cleveland Cavaliers, Wade returned to Miami and retired in 2019 as the team’s all-time leader in numerous categories.
Dwyane Wade arrived in Miami as the third pick of the 2003 NBA draft. But, of course, he entered the league simultaneously as LeBron James & Chris Bosh, who later became his teammates in South Beach.
But before those two came to town, the former Marquette star won an NBA title playing alongside one of the most dominant players ever like Shaquille O’Neal. The dynamic duo carried the Heat to a championship by defeating the Dallas Mavericks in six games in 2006.
In his first and only year with the Chicago Bulls, Wade made $23.2 million and averaged 18.3 points, 4.5 rebounds, and 3.8 assists in 60 games. He split the 2017-18 season between the Cleveland Cavaliers and the Heat. The 13-time All-Star retired after averaging 15 points in 72 games a year later.
According to Celebrity Net Worth, Wade has a net worth of $170 million and has proved himself a great basketball player and a savvy businessman. Wade has received high contracts and endorsements that have put his net worth soaring through the roof.
Pay cuts, endorsements, and retirement
The Miami Heat legend retired in 2019 with a first-ballot Hall of Fame-worthy resume that includes three NBA championships (2006, 2012, and 2013), a Finals MVP (2006), and eight All-NBA nods.
The renowned basketball player certainly made his fair share of the money. Through his 16-year career, Wade made around $196.4 million, just barely missing the $200-million plateau. The 6-foot-4 guard could have made much more as a Heat member but needed to give up a few million to bring in LeBron James & Chris Bosh in the infamous summer of 2010.
After the 2013-14 season, when the Heat lost to the San Antonio Spurs in the NBA Finals, all three stars opted out. Wade took another pay cut and signed for $15-millon, intending to make the team better.
Wade signed another one-year $20-million deal to stay with the Heat for the 2015-16 season. His contract negotiations with the organization & Pat Riley soured the following summer. Wade wanted to get the massive payday, but the Heat wasn’t willing to spend so much on the aging star. Wade left Miami and signed with his hometown Chicago Bulls for a two-year, $47-million deal.
Let it rain! Converse, Jordans, and incentives
Aside from contracts negotiations, Wade was receiving large sums from his marketing endorsements. For example, his shoe deal with Converse reportedly paid him just $400,000 annually. However, Wade moved on and signed an agreement with Jordan worth $5-million per year, with milestone incentives that would bump his payday to $10-million.
According to Variety, Wade and his Hollywood wife Gabrielle Union bought a $17.9-million mansion in Hidden Hills, California. The three-story house includes seven bedrooms, a home theater, and a fitness suite with a spa & sauna – fancy! Wade isn’t doing too shabby for himself.
Per SI.com, Dwyane Wade purchased a stake in the Utah Jazz and announced that he planned to take an active role in the organization. He explained to the press, “As a businessman, entrepreneur, and investor, I bring a lot to this partnership outside of my basketball experience. I’m excited to help take the Utah Jazz to the next level.”
Although not everything has worked out so smoothly for the pro-basketball player. Wade also took a financial hit when he went through a steep divorce with his ex-wife Siohvaughn Funches in 2002, paying her up to 5 million in a settlement. Wade got full custody of his children and expressed to the Associated Press how difficult the split could be for both of them.
“My life changed in a huge way,” he continued, “Mentally, I’ve been preparing for it for over a year now. To me, it’s bigger than that. For me, it shows a lot of people that you need to fight to be in your kids’ lives sometimes. You fight until you can’t fight anymore. That’s all I was trying to be, a father in the kids’ lives.”
Did former NBA star Dwayne Wade lose his net worth?
Dwayne Wade has stayed in the steady millions. Thanks to his business deals, investments, and his successful player performance – Dwayne Wade’s net worth has maintained his high monetary worth. With a steady 170 million, Wade has put his wealth to use by starting the Wade’s World Foundation in 2003.
The foundation is dedicated to empowering the underserved core communities of Chicago, Milwaukee, and the South Florida areas. The foundation helps community-based organizations that promote education, health, and social skills for children in at-risk situations.