An ex-American football player is John Elway. He now serves as the Denver Broncos’ general manager and president of football operations. Before retiring in 1999, Elway had a very successful career as a quarterback and established a number of records.
John Elway Net Worth
John Elway Net Worth is $145 Million as of this writing. John made a total of $47 million in compensation alone during the course of his NFL career. During his playing career, he received tens of millions of dollars in additional money via endorsements. He has made and lost enormous sums of money in ventures outside of professional athletics. This article will go into further depth about these transactions.
Unfortunately, John Elway also missed out on a windfall of about $1 billion because of a poor business choice he made right before his retirement. Additionally, we go into great depth about this error later in the essay below.
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Cars Dealerships of John Elway
John Elway founded five auto businesses under the John Elway Autos banner. The dealerships, which are in Denver, were sold to AutoNation in 1997 for $82.5 million. Elway’s name could also be used by AutoNation as a marketing tool up until 2006. Elway was able to return to the auto dealership business in his own name after the contract expired in 2006 when it came to an end.
In the years that followed, John opened a Cadillac franchise under the Sonic Automotive brand, along with two Toyota Scion dealerships in California, a Chevrolet dealership in Colorado, a Chrysler Jeep store in Colorado, and a dealership for Chevrolet in Colorado.
John Elway’s Bad Investments
Over the years, John Elway has made a number of poor financial decisions. One of the most prominent was choosing to invest $15 million in a Ponzi scam (the same amount he might have used to purchase a 10% interest in the Denver Broncos). Before he could get $6 million back to safety, he ended up losing $7 million.
He made large investments in Laundromax, a fledgling business, in 1998. He also invested $500,000 in QuePasa, a Latino media company, purchasing more than 130,000 shares. By the year 2000, Elway had suffered a significant loss as share prices had dropped from $27 to $1.
Elway put millions of dollars into the MVP.com website in 1999, but it rapidly went out of business. Additionally, he shared ownership of the football team Colorado Crush, which failed after the Arena Football League was abolished.
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