Patrick Mahomes is a prominent NFL quarterback known for his exceptional skill and charismatic leadership on the field. As of 2024, his net worth is estimated at $90 million, a testament to his successful career and endorsements. Drafted by the Kansas City Chiefs in 2017, Mahomes quickly made a mark with his impressive performances, including winning the NFL MVP award and leading his team to a Super Bowl victory. His contract, one of the largest in sports history, reflects his value and influence in the game. Off the field, Mahomes has secured numerous endorsement deals with major brands, contributing significantly to his wealth. Additionally, his ventures in philanthropy and community involvement further enhance his public profile. With his combination of athletic prowess and business acumen, Patrick Mahomes stands out as one of the most influential figures in modern sports.
Early Life and the Path to the NFL
Patrick Mahomes was born on September 17, 1995, in Tyler, Texas, into a family with a rich sports background. His father, Patrick Mahomes Sr., was a Major League Baseball pitcher, and this early exposure to professional sports helped mold Mahomes’ competitive nature. Although he excelled in multiple sports, including basketball and baseball, Mahomes ultimately chose football, enrolling at Texas Tech University. There, he showcased his unique arm strength, athleticism, and football IQ, rapidly becoming one of the top quarterback prospects in the nation.
Despite not being a highly-touted recruit out of high school, Mahomes quickly made a name for himself at Texas Tech, setting records and catching the attention of NFL scouts. In 2017, the Kansas City Chiefs made a bold move, trading up to select Mahomes with the 10th overall pick in the NFL Draft. This decision would prove pivotal not only for the franchise but also for Mahomes’ financial trajectory.
The Breakthrough Contract: $450 Million Extension
Mahomes’ meteoric rise in the NFL has been nothing short of spectacular. After sitting on the bench for most of his rookie season, he took over as the Chiefs’ starting quarterback in 2018 and promptly led the league with 50 touchdown passes, earning the NFL MVP award. Just two years into his starting career, Mahomes had already become the face of the NFL. In 2020, he signed a record-breaking 10-year contract extension worth up to $450 million, the largest in NFL history at the time.
This contract, which locks him into the Chiefs through 2031, was structured to include various bonuses, incentives, and rolling guarantees. The sheer size and length of the deal underscored the Chiefs’ commitment to Mahomes and his importance to the franchise. Not only did it guarantee him generational wealth, but it also set a new standard for quarterback contracts in the NFL.
The $450 million contract is the foundation of Mahomes’ financial success, contributing significantly to his net worth. While the exact year-to-year breakdown of his earnings fluctuates based on bonuses and incentives, the deal averages an annual salary of around $45 million. In 2023, the Chiefs restructured the deal to ensure Mahomes received $210.6 million from 2023 to 2026, further boosting his earnings in the short term.
Endorsement Deals: A Lucrative Off-Field Revenue Stream
In addition to his NFL salary, Mahomes has become one of the most marketable athletes in the world. His on-field success, combined with his charismatic personality, has attracted numerous high-profile endorsements. Mahomes has endorsement deals with some of the biggest brands in sports and entertainment, including:
- Adidas: Mahomes has a long-term endorsement deal with Adidas, promoting their sportswear and footwear. He has also launched his own signature line with the brand.
- Oakley: Mahomes became the face of Oakley’s Prizm optics line, being the first NFL player to sign an endorsement deal with the eyewear company.
- State Farm: One of the more recognizable endorsement deals, Mahomes is a central figure in State Farm’s television and digital advertising campaigns.
- EA Sports: As a cover athlete for EA Sports’ Madden NFL video game, Mahomes has further solidified his place in popular culture.
- Other Brands: Mahomes has partnered with companies such as Proctor & Gamble, Head & Shoulders, Hunts, and DirectTV, among others.
These endorsements are estimated to bring in tens of millions annually, significantly boosting his net worth. In fact, in 2023, Mahomes was ranked among the highest-paid athletes globally by Forbes, earning nearly $60 million, with a large portion of that figure coming from endorsements.
Investments and Business Ventures
Mahomes has shown a keen interest in business and investment opportunities, diversifying his income streams beyond football and endorsements. One of his most notable ventures is his foray into sports ownership. In 2020, Mahomes became a part-owner of the Kansas City Royals, demonstrating his commitment to the city and expanding his financial portfolio beyond football. This investment is particularly significant, as it makes Mahomes one of the youngest owners in Major League Baseball history.
Additionally, Mahomes holds a stake in Sporting Kansas City, a Major League Soccer club. This investment further underscores his strategic approach to wealth-building, as soccer continues to grow in popularity and value in the U.S.
Beyond sports ownership, Mahomes has invested in various industries, including real estate and technology. He has acquired multiple properties, including a $1.9 million mansion in Kansas City, which features a home gym, pool, and state-of-the-art amenities. His real estate investments are not limited to residential properties; Mahomes has also invested in commercial ventures, further boosting his financial security.
In the tech space, Mahomes has invested in Whoop, a company that produces wearable fitness technology. This investment aligns with his interests as a professional athlete and reflects his broader approach to investing in innovative and high-growth sectors.
Philanthropy: Giving Back Through the 15 and the Mahomies Foundation
Despite his enormous wealth and busy schedule, Mahomes remains deeply committed to philanthropy. In 2019, he established the 15 and the Mahomies Foundation, a nonprofit organization dedicated to improving the lives of children. The foundation focuses on health, wellness, and education, providing resources and opportunities to underprivileged youth.
One of the flagship initiatives of the foundation is the 15 for 15 Program, which supports 15 youth-oriented charities annually. This initiative addresses a range of issues, from education and childhood development to hunger relief and sports programs. In addition to financial donations, Mahomes is actively involved in the foundation’s operations, frequently participating in events and fundraisers.
Another significant project of the foundation is the construction of inclusive playgrounds. These playgrounds are designed to be accessible to children of all abilities, fostering an environment where all kids can play and interact. The initiative has gained widespread recognition for its impact on communities and its focus on inclusivity.
Mahomes’ philanthropic efforts have garnered praise from both the public and his peers, further solidifying his legacy as not only an exceptional athlete but also a role model off the field.
Career Achievements
Mahomes’ on-field success is the primary driver of his wealth and marketability. Since becoming the Chiefs’ starting quarterback, he has led the team to remarkable heights, including multiple Super Bowl appearances and victories. As of 2024, Mahomes has won three Super Bowl championships and three Super Bowl MVP awards, further solidifying his place in NFL history.
In addition to his Super Bowl victories, Mahomes has been named the NFL MVP twice (in 2018 and 2022), and he has earned numerous other accolades, including Pro Bowl selections and All-Pro honors. His dynamic style of play, characterized by his ability to make seemingly impossible throws and his leadership on the field, has revolutionized the quarterback position.
Mahomes’ success has had a transformative effect on the Chiefs franchise, elevating them into perennial Super Bowl contenders. His performances have not only brought championships to Kansas City but also significantly increased the value of the franchise itself. With Mahomes at the helm, the Chiefs are widely regarded as one of the NFL’s most dominant teams, and their continued success will only bolster his legacy.
