Warren Buffett Is Impressed by Alex Rodriguez’s Business Acumen, Here’s Why We Are Too!
Alex Rodriguez is the man of the hour – from soon-to-be marrying his highly successful fiancé, multihyphenate Jennifer Lopez, to handling his own company, to getting the nod of Warren Buffett, the third richest on the planet – he certainly knows what he is doing.
After retiring from playing baseball in 2016, we only saw the athlete even more but just not in the field. Instead, the 43-year-old has been busy with different ventures, good thing he learned a lot from his mentor, the Oracle of Omaha himself, who has an estimated net worth of over $80 million.
Friends with a Billionaire
Not to say that he is perfect because we all saw how he hit rock bottom, but what’s impressive is how he pulled himself up from the rubble.
Alex, famously known as A-Rod, never shied away from his previous blunders, in fact, recently, he detailed his ups and downs during his heyday as a baseball player and as a budding businessman in an interview with Sports Illustrated.
Even if that’s the case, he has found a fan in no less than the legendary investor and CEO of Berkshire Hathaway. The two have previously been pictured together and have exchanged praises for each other as well. So how did their paths cross?
Their friendship started in 2000 when Warren served as the underwriter for disability insurance for a 10-year, $252-million deal between A-Rod and Texas Rangers.
The then-25-year-old extended his gratitude to the businessman and contacted the billionaire’s secretary to ask if he and her boss could somehow meet.
Since then, they’ve become good pals with the expert imparting words of wisdom, not just about business matters but about personal stuff, too, to his somewhat then-apprentice.
While the former New York Yankees player has nothing but good words for his mentor, Warren recently said that A-Rod doesn’t actually need him because the man has a “money mind” that can get things done whichever matter it is.
Explaining how Alex is successful in his own right, the business magnate said that most athletes get played simply because they can’t differentiate those who would just want to promote them and those who are true friends.
Warren further explained that these people were called “jock-sniffers,” promoting deals and partnerships while the athlete is getting the money he never had, but sometimes, even the agents are up to no good.
But Alex was different because this didn’t and won’t happen to him because he has a nice detector, the 88-year -old said. This is perhaps the highest praise A-Rod could get as an entrepreneur. He manages the A-Rod Corp. which he started in 2003.
Money and Sports
While most professional athletes make millions of dollars, only a few make it alive in their business ventures, A-Rod and David Beckham to name a few.
According to a report, 60 percent of NBA stars who retire find themselves bankrupt within five years after, and worse for football players with 78-percent within just two years.
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