Highlights
- Patrick Mahomes is the highest paid NFL player with a $500 million contract extension, earning $39.3 million in salary and $20 million in endorsements.
- Mahomes has built a business empire through endorsements, investments, and entrepreneurship, allowing him to spend millions on mansions, cars, and lavish gifts.
- Despite being only 28 years old, Patrick Mahomes' net worth has reached an estimated $70 million already.
Patrick Mahomes, Quarterback (QB) for the Kansas City Chiefs, signed the largest ten-year, $500 million contract extension in National Football League (NFL) history in 2020.
NFL MVP (Most Valuable Player) in his second season, the now 28-year-old superstar earned a Super Bowl ring and many league records.
Mahomes turned his on-field prowess and marketability into a growing business empire early in his career. The Chiefs quarterback is well-known for his exceptional skill and jaw-dropping plays on the field.
He has seized the hearts of football fans and created a financial empire off the gridiron. Mahomes continues to bolster his net worth through endorsements, investments, and entrepreneurship, and his riches allow him to spend millions on mansions, cars, travel, and lavish gifts.
As of early 2024, Patrick Mahomes' net worth is widely estimated at $70 million. Forbes maintains a financial profile for Mahomes, but does not appear to have calculated his net worth.
However, Forbes estimated Mahomes' total earnings at $59.3 million in May 2023, with $39.3 million in NFL-related salary, and the remaining $20 million from endorsements.
Based on Forbes' earning estimates in 2023, reports placing Mahomes' net worth at $70 million may be on the low side:
Patrick Mahomes' Net Worth, At A Glance:
Estimated Net Worth (2024) | $70 Million |
|---|---|
Mahomes' Salary (Career, Estimated) | $39.3 Million (Per Forbes, 2023) |
Mahomes' Endorsement Income (Estimated) | $20 Million (Per Forbes, 2023) |
Sources Of Wealth | Professional Football, Business Ventures, Endorsements, Investments |
Philanthropy | 15 And The Mahomies Foundation |
Mahomes' Car Collection | Ferrari 812 Superfast, Lamborghini Urus, 2017 Infinity Q60 Sport, 2020 Rolls-Royce Cullinan |
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Earns: Patrick Mahomes' NFL Salary
Mahomes' ten-year contract extension with the Kansas City Chiefs includes $450 million guaranteed money, the largest deal of its sort in NFL history.
On top of that, Mahomes received a $10 million signing bonus. His average annual compensation is more than $45 million per season.
Mahomes, who was only 25 years old when he signed the record-breaking deal, could earn $503 million from his NFL playing contract – if he stays with Kansas City for ten years.
Moreover, under the terms of his contract, what he earns in one single year substantially exceeds the earnings of most NFL players. (And those guys are loaded.)
Spends: Real Estate Portfolio
Mahomes lives in a luxurious $1.9 million residence located near Kansas City.
In 2021, he acquired a magnificent $2 million farm outside Kansas City, covering over 180 acres, which serves as a second home. In addition to his other properties, he possesses a luxurious high-rise apartment worth $500,000 in the vibrant entertainment district of Kansas City.
Mahomes invested significant money in customizing and furnishing his homes to reflect his extravagant preferences.
With multiple luxury homes to manage, Mahomes must allocate a considerable portion of his annual budget to purchases, upgrades, and property taxes.
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Mahomes has quickly become one of the most marketable young NFL stars.
In turn, huge brands like Oakley, Hy-Vee, DirectTV, and Essentia Water pay him handsomely each year to serve as their spokesperson. His relationships also include Kansas City businesses at which he likes to shop.
Because he is still quite young, has a history of being an MVP, and is known as a kind and approachable person, Mahomes has a lot of sponsorship options from which to choose.
Mahomes is also rich in terms of talent and potential, and quite possibly could rank alongside greats like Peyton Manning, as a legendary NFL quarterback.
As he becomes more famous, his endorsement-based earnings will likely rise along with them, and in 2023, Forbes estimated that Mahomes took home a cool $20 million in compensation related to these deals.
Spends: Car Collection
Mahomes' car collection rivals the grandeur of his mansions.
He has been seen behind the wheel of luxurious vehicles such as a Ferrari 812 Super-Fast (valued at over $350,000) and a customized Mercedes S63 Coupe (with a price tag exceeding $150,000).
On his 25th birthday in 2020, Mahomes decided to treat himself to a luxurious Lamborghini Urus "super SUV," with a base price tag of $200,000.
Mahomes is known for his extravagant spending on customizing his luxury vehicles, constantly updating his collection with new additions every year.
With insurance, maintenance, customs work, and new purchases, Mahomes spends significantly each year to fuel his extravagant auto passion.
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Mahomes has made calculated investments to diversify his sources of income.
At just 25 years old, he became part of the ownership group of MLB's Kansas City Royals in 2020, acquiring an ownership stake in the team.
In 2021, he also became a part owner of Sporting Kansas City in the MLS. These sports investments alone are valued at nearly $200 million for Mahomes.
As he continues to expand his wealth, Mahomes is likely to explore additional sports ownership and investment opportunities, strategically increasing his fortune through well-informed financial choices.
Spends: Travel And Vacation Expenses
Mahomes loves embarking on luxurious vacations and weekend getaways with his wife Brittany Mahomes, as well as with his teammates.
Before his wedding in 2022, Mahomes' explorations of wedding venues led him to various locations, ranging from the picturesque California wine country to the enchanting coastal castles of Ireland.
He has shared pictures of his luxurious getaways at stunning resorts in swanky locales like Saint Barthélemy, Costa Rica, Mexico, and Hawaii.
Mahomes also enjoys regular off-season getaways and explores different destinations domestically, and he shared a post about a visit to Disney World "with the fam" in 2023:
Regardless of whether a trip is domestic or abroad, every detail is meticulously attended to, from luxurious private jets to top-tier accommodations, amenities, and activities.
Mahomes' lavish semi-annual trips are expected to cost in the seven-figure range each year.
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Mahomes has utilized his popularity and wealth to become a co-owner of multiple businesses, working alongside his business partner (and wife), Brittany:
In 2021, a Kansas City barbecue restaurant called 15 And The Mahomes and an athletic gear and apparel store were both launched.
In addition, the power couple has partial ownership of car dealerships and local fitness centers in Kansas City. Mahomes is in the process of establishing his consumer brand for merchandise and products.
These ambitious ventures are poised to enhance his diverse income streams and grow his business empire in the long run.
Spends: Gifts
Mahomes is known to be incredibly generous when it comes to giving gifts to his loved ones — and even strangers.
During the Chiefs' Super Bowl parade, he made headlines by generously gifting players brand-new PS5s. Brittany was gifted a luxurious Bulgari bracelet worth $150,000 on her birthday.
Mahomes has a knack for delighting his teammates, receivers, and offensive linemen with elegant accessories and personalized jewelry following significant victories.
Amid the diamonds, watches, shoes, and extravagant acts of kindness, Mahomes allocates a substantial amount of money each year solely for gifts.
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Mahomes' rising fame attracts myriad paid appearances and speaking engagements, and he commands a fee of over $100,000 just to make an appearance at an event.
In addition, he generates revenue from his extensive social media audience of more than six million followers on Instagram alone, partnering with brands for sponsored posts on Instagram and Twitter.
With his immense popularity and marketability, Mahomes constantly participates in appearances, endorsements, and partnerships. His strong social media presence and broad reach enable him to enhance his other business endeavors.
Mahomes' rise to stardom has proven to be a lucrative one, with diverse streams of income and compensation.
Spends: Philanthropy
Mahomes makes it a point to give back to charities and foundations with a portion of his considerable fortune.
He founded the 15 And The Mahomies Foundation, which works with underprivileged youngsters and engages his colleagues in community service projects.
During the pandemic, Mahomes contributed thousands of dollars to Kansas City organizations that helped feed meals for needy families. He also co-founded a project to rehabilitate and revitalize areas of Kansas City.
Mahomes donates both money and time to organized charity events, foundations, donations, and local causes.
As of early 2024, Patrick Mahomes' net worth is widely estimated at $70 million – given his age and accomplishments to date, that figure is likely to rise quickly.
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