Hakeem Olajuwon Net Worth
Hakeem Olajuwon has a $300 million net worth as a former Nigerian-American professional basketball player. Hakeem Olajuwon was a member of the Houston Rockets and Toronto Raptors in the NBA, where he led the former to back-to-back NBA titles in the mid-90s. In addition, he was a member of the 1996 Olympic gold-medal-winning US team. Olajuwon is the first non-American to be an All-Star and an NBA MVP. He is widely regarded as one of the best basketball players of all time.
Following his retirement, Hakeem started on a tremendously successful entrepreneurial career. He has bought and sold real properties for more than $150 million in the previous two decades.
Career Earnings
Hakeem made a total of $110 million throughout his NBA career. In the 2000-2001 season, he earned $16.7 million with the Houston Rockets, which was his highest-earning year. In today’s money, that translates to about $27 million.
Early Life and Collegiate Career
Hakeem Olajuwon was born in Lagos, Nigeria, in 1963 to Yoruba parents Abike and Salim, who ran a cement company. Olajuwon used to be a soccer goalie when he was little. He began playing basketball later, while attending the Muslim Teachers College, when he entered a local competition. Following that, Olajuwon moved to the United States to play basketball for the University of Houston Cougars. He became the Cougars’ sixth man after redshirting his initial year. Due of his easy dunking, he gained the moniker “The Dream” during this period. Olajuwon guided the Cougars win consecutive NCAA championship games in both his sophomore and junior years. Despite the fact that the team lost both occasions, Olajuwon was named NCAA Tournament Player of the Year in 1983.
Start with the Houston Rockets
The Houston Rockets picked Olajuwon first overall in the 1984 NBA draught. His first season was an immediate success, as he helped the Rockets substantially improve their win-loss record. In the Rookie of the Year vote, he came in second place to Michael Jordan. The next year, Olajuwon assisted the Rockets in reaching the Western Conference Finals, which they won. The club then advanced to the NBA Finals, where they were defeated by the Boston Celtics in six games.
Olajuwon was the unquestioned captain of the Rockets during the 1988-89 season, leading the league in rebounds with 13.5 per game. Despite the Rockets’ failure the next season, Olajuwon continued his professional success, topping the league in rebounds and blocks. He also had a quadruple-double, making him only the third player in NBA history to do it. Olajuwon improved his passing after a poor 1991-92 season, setting a new career high of 3.5 assists per game in 1992-93. The Rockets also set a new franchise record with 55 wins that season. Meanwhile, Olajuwon finished second in the MVP contest to Charles Barkley.
Championships with the Rockets
1996 Olympics
Olajuwon was a member of the 1996 US Olympic basketball squad, called Dream Team II, at the height of his career. Olajuwon and his fellow American players won the gold medal for the tournament, playing with five members of the original Dream Team, as well as Shaquille O’Neal.
Final Years with the Rockets
When the Rockets were ousted in the second round of the 1996 NBA Playoffs, Olajuwon’s run of success came to an end. However, with Charles Barkley on the team the following season, they went on to win 57 games. Olajuwon’s scoring output increased during the 1998-99 season, allowing him to make his 12th and final All-NBA Team.
Toronto Raptors
Olajuwon was transferred to the Toronto Raptors in 2001 after rejecting down a $13 million offer from the Rockets. He was unable to repeat his previous successes, averaging 7.1 points and six rebounds a game, which were career lows. Olajuwon opted to retire after only one season with the Raptors because to a back issue in the fall of 2002. With 3,830 total blocked shots, he finished his professional career as the league’s all-time leader.
Real Estate Investments
Olajuwon had a lot of success in the Houston real estate market when he retired from the NBA.
According to a 2006 New York Times storey, Hakeem had purchased over $100 million in real estate up to that time. Hakeem specialises on purchasing sites that are primed for development, such as stadiums or railroad stations. He acquires huge undeveloped property tracts along transit lines and important highway exits, for example. He purchased a 41-acre site near NASA’s Johnson Space Center in November 2006 and converted it into a retirement community. Parking garages, apartment complexes, business buildings, and single-family houses are among his holdings. He bought the historic Federal Reserve Bank building in Houston and turned it into a mosque. He owns the old World Trade Center in the city. building not far from Minute Made Park.
Hakeem does not borrow money to fund his purchases since it is against Islamic law to pay or charge interest. As a result, when the real estate market slows, he may reduce his risk and exposure. Hakeem explained in the New York Times profile:
“I’ve been fortunate so far to be able to work with my own funds, which allows me to choose when I want to sell rather than having a bank loan hanging over my head, which may drive you to sell even if you’re not ready.”
Personal Life
Olajuwon married Dalia Asafi in 1996. Aisha and Rahmah, as well as boys Abdullah and Abdul, are the couple’s four children. Olajuwon is also the father of Abisola, a daughter from a prior relationship.
Olajuwon started his Big Man Camps in 2006, where he trains young players how to play in the front court. He also works with other NBA players to help them improve their skills.
Olajuwon is fluent in Arabic, French, and the Nigerian languages of Ekiti and Yoruba, in addition to English. Olajuwon is a devout Muslim who has stated that he studies the Qur’an every day.