Patrick Mahomes, the Kansas City Chiefs’ star quarterback, has changed football with his talent and clutch plays. He has a net worth of $70 million by 2023. This is thanks to his smart contracts, endorsements, and investments. Let’s explore how he earns and spends his money.
Patrick Mahomes’ NFL Career Earnings: A Record-Breaking Contract
Mahomes’ wealth comes from his groundbreaking NFL contracts:
- Rookie Deal (2017–2021): He signed a 4-year, $16.4 million contract after being drafted 10th overall in 2017 (ESPN Archives).
- Historic 10-Year Extension (2020): He signed a $450 million deal with the Chiefs, the richest ins ports history at the time. With in centives, it could reach $450 million deal witht he Chiefs, the richest in sports history at the time. With in centives, it could reach $503 million by 2035 (NFL.com).
- Restructured Contract (2023): He adjusted his contract to earn 210.6 millionbetween 2023–2024, including a $210.6 million between 2023–2024, including a $57 million signing bonus (Spotrac).
By age 28, Mahomes has earned over $200 million in NFL salary. He’s set to top earnings lists for years.
Patrick Mahomes’ Endorsement Empire
Off the field, Mahomes works with global brands, adding $20M+ annually to his net worth:
- Adidas: He has a multi-year deal with signature cleats and apparel (Adidas Announcement).
- State Farm: He stars in commercials with Aaron Rodgers and Chris Paul (State Farm Campaigns).
- Oakley, Head & Shoulders, and Hy-Vee: He has lucrative campaigns with these brands.
- ESPN+: He stars in the “Quarterback” docuseries about his 2022 season.
Forbes ranked him 24th among the World’s Highest-Paid Athletes (2023) with $59.5M total earnings ($59.5M tota learnings ($44.5M from end or sements) (Forbes Profile).
Investments and Business Ventures
Mahomes diversifies his portfolio through strategic investments:
- Kansas City Royals (MLB): Became a minority owner in 2020 (MLB News).
- Sporting Kansas City (MLS): Joined ownership group in 2021 (MLS Press Release).
- Hyperice: Invested in the recovery tech brand (Hyperice Partnership).
- BioSteel Sports Nutrition: Equity stake after endorsement partnership (BioSteel Collab).
His ventures show his focus on sports, wellness, and helping the Kansas City community. For more on athletes in business, check out our guide to [NFL Players Turned Entrepreneurs].
Patrick Mahomes’ Lifestyle: Real Estate, Cars, and Philanthropy
Real Estate
- $2.9M Kansas City Mansion: 6-bedroom home with a movie theater and golf simulator (Realtor.com Feature).
- Texas Properties: Owns multiple homes near his training base.
Luxury Purchases
- Owns a Rolls-Royce Ghost, Ferrari 812 Superfast, and Cadillac Escalade.
- Also has custom jewelry, like a $1.2M Rolex and Super Bowl-inspired chains.
Philanthropy
Co-founded 15 and the Mahomies Foundation, giving millions to youth, education, and health. Learn more about NFL stars giving back in our article [NFL Philanthropy: Players Making a Difference].
FAQs About Patrick Mahomes’ Net Worth
1. What is Patrick Mahomes’ annual salary?
Mahomes makes $45–52 million a year from his Chiefs contract, plus endorsements (OverTheCap Breakdown).
2. How much does Mahomes make from endorsements?
He earns about $20 million yearly from brands like Adidas, State Farm, and Oakley.
3. What’s Mahomes’ highest-paid contract?
His 10-year, $450 million Chiefs deal (2020) is the NFL’s top contract.
4. Does Mahomes own any sports teams?
Yes, he has stakes in the Kansas City Royals (MLB) and Sporting Kansas City (MLS).
Conclusion: A $500M Future Ahead
Patrick Mahomes’ net worth shows his success in sports and business. With a future worth over $500M, his appeal and smart investments make him a financial leader.
