Former Major League Baseball player Alex Rodriguez has expressed regrets about not investing in the stock market during the 1990s dot-com boom. In an interview with CNBC Make It, Rodriguez revealed that he wishes he had purchased stocks of Seattle-based companies like Amazon, Microsoft, and Starbucks while he was playing for the Seattle Mariners in the early 1990s.
Rodriguez, who earned over $455 million in salary, bonuses, and incentives during his playing career, acknowledges that he is not necessarily lacking in money. However, he believes that if he had invested in these local stocks at a young age, he wouldn’t have to work as hard as he does today. Besides his baseball career, Rodriguez is currently the CEO and chairman of startup investing firm A-Rod Corp, which he established in 2003, and occasionally appears as a guest judge on ABC’s “Shark Tank.”
To put into perspective how much those investments would be worth today, let’s take a look at the stock prices of these companies. At the time Rodriguez received a three-year, $1.3 million contract in August 1993, Microsoft’s stock price was $2.35 per share. Today, the shares are trading at $334.21 apiece, more than 142 times the price back then. Similarly, Starbucks, which went public in 1992, was trading at just 74 cents per share when Rodriguez signed his first contract. Today, the stock is valued at $93.08 per share, over 125 times the original price. Investing $1,000 in each of these stocks would now be worth approximately $142,000 and $125,000, respectively. Moreover, investing $10,000 in each would have surpassed $1 million.
Rodriguez’s advice to his younger self, in terms of financial decisions, is to make smart long-term investments as early as possible. He believes that being frugal, smart, and putting money away early on can lead to substantial wealth within a relatively short period. In fact, Rodriguez started buying real estate at the age of 22, initially starting with a duplex. At present, his investment firm owns more than 20,000 multi-family apartments and various other assets. He emphasizes the importance of playing the long game and constantly striving for personal growth and improvement.
Apart from his involvement in investments and real estate, Rodriguez is currently working as a baseball analyst for FOX Sports and ESPN. He is also a co-owner of the NBA’s Minnesota Timberwolves. Recently, he partnered with OraPharma to raise awareness about gum health after being diagnosed with gum disease.
In retrospect, Rodriguez recognizes that there inevitably will be mistakes and valuable lessons learned along the way. However, by adopting a long-term and steady approach, one can achieve significant success. Throughout his journey, Rodriguez’s dedication to continuous learning has played a pivotal role in his accomplishments.
It is worth noting that CNBC owns the exclusive off-network cable rights to “Shark Tank.”
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