In a sporting career spanning 22 years, American baseball star Alex Rodriguez earned three MVP awards, hitting 700 home runs. He made history as the highest-paid MLB player of all time, signing a $252 million 10-year contract with the Texas Rangers in 2000, later breaking his own record for the sport’s most lucrative contract by entering into a new 10-year deal with the New York Yankees.
At just 17, Alex Rodriguez went straight from high school to the Majors, and went on to spend more than two decades as a baseball star. However, his baseball career was not without controversy, the former MLB player describing his journey as “an imperfect story.” While recovering from an injury in 2013, Alex Rodriguez made headlines for allegedly having obtained performance-enhancing drugs, which resulted in his suspension for the entire 2014 season. Subsequently, Rodriguez issued a handwritten letter of apology to the MLB, the New York Yankees, the Players Association, and his fans, resuming play with the Yankees at the 2015 spring training camp. However, hampered by injury, Alex Rodriguez announced his retirement from professional baseball the following year, playing his last game on August 13, 2016.
A Dream of Becoming a Successful Businessman
Following his retirement from professional sports, Rodriguez found himself ideally positioned to pursue his second dream of becoming a successful businessman. Indeed, early in his very lucrative sporting career, Alex Rodriguez founded A-Rod Corp, through which he invested in more than 40 partnerships and companies. Today, A-Rod Corp’s investment portfolio is valued at over a billion dollars, according to the company’s website.
Alex Rodriguez cites his primary motivation as fear, explaining that he did not want to be another unfortunate statistic of athletes who get into financial issues once they retire. Today, A-Rod’s portfolio spans more than 40 states, the MLB star having invested in assets as diverse as gyms, a skincare company, fintechs, and a telemedicine business.
Born in New York City and raised in Miami, Alex Rodriguez describes himself as a product of his environment, having been raised by a mother with a “resilient, really powerful work ethic”, who worked as a secretary in the morning, serving tables at night. Growing up, Rodriguez wanted to be involved in both baseball and business, aspiring to be like his father, who was both a great catcher and good with numbers. Rodriguez’s father left when he was 10 years old, and his mother raised him and his two siblings.
Effortless Transition
Making the leap from baseball to the business world after more than two decades in professional sport is no mean feat for anyone. Nevertheless, Alex ‘A-Rod’ Rodriguez made the transition appear effortless. Bidding farewell to the MLB in 2016, Rodriguez continued on his entrepreneurial journey, bringing with him an assortment of very valuable lessons through his successes and failures in professional baseball.
In a recent episode of the Club 30 podcast, Rodriguez reflected on what he brought into his businesses from his long and storied sporting career. Alex Rodriguez cites his grit, determination, and work ethic as driving forces behind his success in the business world. He is not afraid to admit that he has also failed, very publicly, and had to get back up, dust himself off, and keep walking. However, Rodriguez is determined to rebuild himself, acknowledging that he is fortunate and grateful to be in a position to do so.
Venturing into Entrepreneurship
Rather than waiting until retirement to venture into entrepreneurship, Alex Rodriguez became involved in business concurrently, selling Rolex watches he purchased with his MLB salary at the age of just 18. From the income he generated selling those, Rodriguez purchased his first estate, establishing the investment firm, A-Rod Corp. Almost three decades later, Alex Rodriguez has an estimated net worth of some $1 billion, a figure that continues to grow.
Alex Rodriguez began investing in property at a young age, determined to own his own home after watching his mother struggle when he was young. Rodriguez recalls the family moving every 18 months because their landlord kept raising the rent. Rodriguez purchased his first duplex for $250,000, and went on to acquire more than 20,000 multifamily apartments and 10,000 single-family homes.
Father An Inspirational Figure
Reflecting on his career, Alex Rodriguez says he wanted to be in business, but that he also wanted to be a major league baseball player. Rodriguez thought the business route was more realistic, and cites his father, who owned a shoe store in Washington Heights, Manhattan, as an inspirational figure, explaining that before the days of iPhones, they called him the “human calculator” because he was so good with numbers.
As a young baseball prodigy, Alex Rodriguez was acutely aware that every player only has a limited time in the game. Even before his rookie season, he was thinking about life after baseball, noticing a natural connectivity between baseball and business. Indeed, as Rodriguez points out, there is a huge overlap between founders and great athletes. Alex Rodriguez took those skills, translating them to the world of entrepreneurship, and built a billion-dollar business.
From Baseball to the Boardroom: The Inspiring Story of Alex Rodriguez
