Julius Winfield Erving II, also known as Dr. J, revolutionized basketball with his dynamic play style, both in the American Basketball Association (ABA) and the National Basketball Association (NBA). Erving was born on February 22, 1950, in East Meadow, New York, and reared in Roosevelt. His basketball career began at Roosevelt High School and continued at the University of Massachusetts Amherst, where he dominated college basketball with his exceptional scoring and rebounding.
Erving began his professional career with the ABA’s Virginia Squires in 1971, where his spectacular dunks and scoring prowess immediately propelled him to stardom. Following a contract disagreement and a brief stay with the Atlanta Hawks, Erving returned to the ABA, guiding the New York Nets to two championships and many MVP awards. His accomplishment contributed significantly to the ABA-NBA merger in 1976.
After moving to the NBA, Erving joined the Philadelphia 76ers, where he continued to thrive, mesmerizing spectators with his beautiful dunks. Erving led the squad to the NBA finals four times in seven years, eventually winning the championship in a thrilling 1983 victory. Erving was named the NBA’s Most Valuable Player in 1981 and retired in 1987, leaving a legacy that included exceeding the 30,000-point mark, a feat accomplished by only a few players in the sport’s history. Erving’s contributions to the game were further validated when he was designated one of the NBA’s 50 greatest players in 1996 and elected into the Naismith Memorial Basketball Hall of Fame in 1993.
Aside from his on-court accomplishments, Erving easily transitioned into jobs as a recognized television pundit and astute executive with the Orlando Magic after retirement. His keen commercial ability was recognized by basketball legend Michael Jordan, generally regarded as the NBA’s GOAT.
We give insights into the success of some of Dr. J’s business activities, which have contributed to his $32-million net worth.
1. Erving Group Inc.
Julius Erving, renowned for his basketball legacy, established The Erving Group, Inc. in 1990. Erving’s organization, which draws on his extensive experience, is dedicated to delivering practical assistance and consultancy in a variety of fields. The Erving Group’s mission is to help clients overcome diverse obstacles by providing strategic insights and solutions. Whether guiding startups or consulting for established organizations, the company uses Erving’s concepts and life experiences to create value in a variety of industries. Erving has been able to expand his effect beyond the basketball court with The Erving Group, where he applies his winning mindset to the business world and helps others achieve success.
2. Dr. J Enterprises
Julius Erving owns Dr. J Enterprises, which manages his brand’s goods, media appearances, and charitable activity. This firm has been extremely successful, generating approximately $2.5 billion in income and value for its partners and clients. Erving took a significant stride forward in 2016 when he partnered with Authentic Brands Group to increase his brand’s global visibility.This move demonstrates his commitment to expanding his influence beyond athletics, leveraging his celebrity to have a huge impact on business and philanthropy. Dr. J Enterprises has emerged as a prominent role in handling the various facets of Julius “Dr. J” Erving’s legacy, demonstrating that sports icons can also be great entrepreneurs and benefactors.
3. MobileCoin
Julius Erving, famous for his basketball career, has entered the digital finance sector by investing in MobileCoin, a cryptocurrency firm. In 2021, he was a prominent investor in MobileCoin’s $66 million Series B financing. MobileCoin, founded in 2017 by Josh Goldbard and Shane Glynn, promises to improve the privacy, security, and usability of online financial transactions. This investment signals Erving’s foray into the rapidly expanding sector of digital currencies, demonstrating his interest in supporting innovative financial solutions. MobileCoin stands out for its emphasis on changing how individuals move money to one another online, which is consistent with Erving’s forward-thinking approach to investing.
4. Black Sheep Mob
Julius Erving founded Black Sheep Mob, a unique online retailer specializing in children’s clothes. It is a high-end, street-inspired business that designs edgy, avant-garde, and trendy children’s clothing at reasonable pricing. Their distinctive style appeals to individuals who value a mix of luxury and street fashion. This business venture exemplifies Erving’s inventive approach to investing, expanding his reach beyond the basketball court and into the fast-paced world of e-commerce.
5. Anthem Media Group, Inc.
Julius Erving, also known as Dr. J, has expanded his impact beyond basketball by becoming a shareholder and brand ambassador for Anthem Media Group Inc. This organization, which operates the FNTSY Sports Network and RotoExperts.com, benefits from his assistance. Erving’s partnership with Anthem Media is a unique combination of his great basketball career and the ever-changing world of fantasy sports. By taking on this new role, he is helping to build the future of fantasy sports, integrating his extensive sports experience with the company’s goal of innovation in the sector. This cooperation is a huge step forward for Erving and the fantasy sports market, as they collaborate to bring new ideas and growth to the field.
6. NASCAR Busch Series
Erving’s enthusiasm for motorsports took a unique turn when he teamed up with former NFL player Joe Washington to compete in NASCAR. This partnership, which moved from basketball and football to car racing, was not only ambitious, but also represented a merger of athletic disciplines. They launched a NASCAR Busch Series team and embarked on an adventure that combined the essence of high-speed racing with their core sporting values. More than just stepping into new ground, their collaboration was a celebration of competition and a brave move beyond the fame of their original sports. This foray into motorsports was a strong indication of their willingness to face new obstacles and combine the different cultures of athleticism with the thrilling testing of car racing, resulting in an inspirational voyage across worlds.
7. Liberty Coca-Cola Beverages
Erving co-owned Liberty Coca-Cola Beverages, a large enterprise that bottled and delivered products from Philadelphia to New York City and Delaware to Connecticut. This business employed a large number of people and made significant money, demonstrating Erving’s ability to have a broad economic impact. Eventually, the venture was returned to Coca-Cola, which then sold it to local executives in 2017.
8. Real estate
Julius Erving has wisely invested in real estate, holding both business and residential properties in desirable areas around the United States. These investments have been extremely profitable, greatly increasing his net worth. His portfolio comprises both commercial and residential properties, demonstrating his broad investment strategy. This clever property decision not only exhibits Erving’s knowledge of the real estate sector, but it also significantly increases his financial assets.