What is Chad Ochcocinco's Net Worth?
What is Chad Ochcocinco's Net Worth?
By Edcel Panganiban July 29, 2024 08:33
Chad Johnson, who is called "Ochocinco," is a former American football wide receiver who played most of his professional career with the Cincinnati Bengals. Ochocinco was picked by Cincinnati 2001 and emerged as one of the NFL's most explosive wideouts for years.
That same 11-season NFL career saw Ochocinco accumulate more than 11,000 receiving yards and score 67 touchdowns while being named to six Pro Bowls. His biggest contract in 2006, a $35.5 million deal with the Bengals, served as one of the largest chips on this net worth pile.
How Ochocinco Spends
Ochocinco made millions of dollars on the field but became popular for his stingy lifestyle. Instead of living the lavish lifestyle frequently associated with NFL stars, Ochocinco famously shopped at Claire's for fake jewelry, leased various exotic cars, and even disclosed that he spent two years sleeping in the Bengals' stadium to avoid having to pay rent or a mortgage.
His distinctive money philosophy helped him save an extraordinary 83% of his NFL income, which would give him a massive leg-up as he prepared for life beyond the football field.
Diversifying Income Streams
Like many collecting a seven-figure salary from an NFL team, Ochocinco's early wealth was generated by his prowess on the field, but he has supplemented that income with endorsements and media appearances.
Since retiring from the NFL, Ochocinco has appeared on multiple reality TV shows, including Dancing with the Stars and his own VH1 dating series, Ochocinco: The Ultimate Catch. This media coverage has not only boosted his profile but also helped him earn some extra money in the bank.
Ochocinco has also been known to land endorsement deals with companies like Reebok and GoDaddy, which help pad his wallet even more. He also became interested in the new realm of eSports by owning the professional FIFA team, Joga Bonito.
Estimated Net Worth Compared with Other NFL Players
The Estimated net worth of Ochocinco in 2024 is more than $15 million. It's a significant net worth, but in the world of NFL players, former or otherwise, money becomes meaningless fast. Within two years of retirement, approximately 78% of former NFL players have gone bankrupt or are under financial stress, according to a 2009 study by Sports Illustrated. Fortunately, Ochocinco's business acumen has helped him not to become another victim.
Wealth Management Strategies of Ochocinco
According to Ochocinco himself, his money strategy likely played the biggest role in helping him hold on to enough wealth as he forged a TV career. Instead of falling into the trap of other NFL spenders league, Ochocinco saved and invested money that has paid off in a big way.
In addition, Ochocinco's commitment to financial literacy and "treating it as a business" has been crucial in his wealth management. This has helped him become more financially literate and entrepreneurial, making the former wide receiver a smarter investor in side hustles now that he's finished playing football.
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