When a young Serena Williams stepped onto the tennis court, playing the US Open little did people know they were witnessing history in the making. She went on to win 23 Grand Slam titles, the highest by a player in the Open Era, four Olympic gold medals, and 73 Singles’ titles. She has earned over $94 million through her prize money on the court, which is twice more than any female athlete has accomplished. She has also made millions from brand endorsements such as the $40 million Nike deal to create her line of shoes. While endorsement deals can be lucrative, Serena Williams wanted to enter the era of business investments to grow her fortune.
Serena Williams has managed to earn a $240 million net worth by starting bold ventures that combine with her passion. A fashion and beauty-lover who is a strong pillar for women empowerment, let’s look at Serena Williams’ different business ventures.
S by Serena
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Serena Williams has always been a fashion icon for her incredible accessories on the tennis court and beautiful outfits off the court. As mentioned by Essentially Sports, she entered the world of retail when she launched S by Serena in 2018 as a pure e-commerce brand. Her sustainable clothing line ranges from $35 to $250. Williams is also encouraging people to keep motivating themselves as she has dedicated a section of her website to interact with people under the tag #BeSeenBeHeard.
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Serena Ventures
After clinching the global sports and fashion arenas, Williams wanted to make smart investments. She launched Serena Ventures in 2014 to invest in businesses owned by women and people of minority communities. To date, Serena Ventures has invested in 50 different businesses to help them grow. She invested in a fintech start-up called Esusu, which has a steady revenue of $2.9 million. Serena Ventures also became an investor in Bumble Fund, where she has been an active member since 2018. Serena Ventures has a market cap worth $14 billion and made investments generating revenue of $10 million.
Entertainment
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Everyone wants to know about her life with a career that spans more than a decade and numerous accolades under her belt. Williams had starred in an HBO documentary called Being Serena in 2018. Her newest step is in the entertainment industry as she signed a first-look deal with Amazon Studios in April 2021, as stated by Deadline. She has plans to create her docuseries that will earn her millions of dollars. It will ensure a guaranteed viewer base and offer incentives to Williams based on the performance of her docuseries.
Miami Dolphins
There is no better place to invest money than in a sports team. Serena and her sister Venus purchased a minority stake in the NFL team Miami Dolphins in 2009. Williams has a 0.5% stake in the Dolphins. The sisters became the first African-American minority owners in NFL history. They have invested in the Dolphins along with Gloria and Emilio Estefan, Fergie, and Marc Anthony. The NFL team has a net worth of $3.42 billion, bringing the sports star’s cut to $17 million.
Poshmark
After stepping into retail with her brand Serena, Williams joined the Board of Directors at the online resale marketplace Poshmark. The platform allows users to buy from other users or sell their apparel, jewelry, handbags, or other accessories. According to CNBC, the brand is worth $1 billion and plans to roll out an annual revenue of $150 million. With Williams joining the board, Poshmark has expectations that her expertise in fashion and good experience from her ventures will help the brand grow into a multi-billion dollar company.
Bitski
An NFT marketplace that helps buy and sell non-fungible tokens, Bitski has collided with top music and sports investors to grow their business. Along with Jay Z, Serena Williams invested in the business in 2021, and it is already paying off handsomely. Williams invested $19 million into the business, and NFT sales have increased from $250 million to $389 million, a 55% rise, as noted by Forbes. Williams made an intelligent decision of having fractional ownership, which has provided her more return on investments.
Serena Williams Jewelry
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The newest venture under the Serena moniker is Serena Williams Jewelry. Launched in August 2021, her jewelry line is exclusively sold with Zales in the United States. Her jewelry includes necklaces, earrings, bracelets, and more than 60 glimmering rings. Every piece is made from brilliant natural diamonds and has a starting price of $99 that hike until $9,999. Her designs focus on passion, empowerment, and self-acceptance. Williams also has plans to launch her brand globally with a collaboration with KP Sanghavi Jewelry, a vertically integrated diamond company.
Serena Williams also sits on the Board of Directors at SurveyMonkey and has an investment in the company Ultimate Fighting Championship. Her rise to fame was due to her hard work and skills that were unlike anything seen before. Her story of coming from an unlikely background away from tennis to becoming a self-made G.O.A.T. has been adapted into a movie starring Will Smith called King Richard, which is set to hit the theatres in late November 2021.
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Sources: Essentially Sports, Deadline, CNBC, Forbes
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