Dr J Net Worth: How Wealthy is Julius Erving Basketball Player?

Dr J Net Worth: Dr J is a retired American basketball player and a businessman with an estimated net worth of $50 million as of 2022. Dr J was born on February 22, 1950, in East Meadow, New York, United States.

Who is Dr. J?

Julius Erving, also known as “Dr. J,” was a star and fortune in the NBA in which he developed the new method of leaping and the “slam dunk” move above the edge. After his time in the NBA, Erving launched a profitable business and endorsement career which increased Dr J Net Worth.

Read here how a Scientology head is making a fortune.

Dr J Net Worth and Career

Early Life of Dr J

Julius Erving got his nickname “The Doctor” and “Dr. J” as a college and high school basketball player thanks to his charisma and skills when on the court. After two successful varsity basketball seasons, he quit college to join the now-defunct American Basketball Association (ABA). The league was formed in 1971 as a non-drafted free agent of the Virginia Squires. After five years in the ABA before joining the NBA, he played for an additional 11 years as a player with the Philadelphia 76ers.

Together with Erving the 76ers, the team won 1983 the NBA championship. Erving retired from basketball in 1987 after racking up 3006 career points across both leagues, and he ranked third on the list of all-time scoring. A stunning athlete, Julius Erving is also one of the first primary leaping technique practitioners later demonstrated in Michael Jordan’s case. After leaving his court, Julius Erving became an accomplished business executive, TV sports analyst, and executive of The Orlando Magic that drastically increased Dr J Net Worth.

Dr. J Business Ventures and Endorsements

In 1976, after the merger between the ABA and the NBA, Julius signed what is thought to be the first shoe endorsement for basketball under a contract. The contract offered an annual sum of $20,000. After inflation adjustments, this is the equivalent of a yearly salary of $90,000. In the mid-1980s, the athlete was making $100,000 per year at Converse, and that’s the equivalent of $250,000 in the present. This was crucial as Michael Jordan was a soon-to-be NBA rookie in 1984. Jordan won Converse throughout his college career and UNC and was eager to keep wearing them professionally. According to the legend, Converse passed on Michael because he demanded more than the amount Dr. J and Larry Bird were earning during the same time. The converse would have liked Jordan; however, they wouldn’t be capable of explaining to Bird and Erving that the new rookie was making more than them or that they were receiving increases comparable to this recruit.

In the spirit of Dr. J and Larry Bird in 1983, the duo licensed their names and their similarity for Electronic Arts to make the video game “Dr. J vs Larry Bird.” EA provided the pair with $25,000 in cash or 20000 shares of stock options with a purchase price of $1. Bird chose to take the money (worth the same as the current value of $65,000). Erving was the one who took the options, which increased Julius Erving net worth.. EA became public in 1989. By the time the company was in the mid-1990s, its shares had a value of millions.

Dr J invested in the Philadelphia bottling facility when he retired from the NBA, and he was the owner for twenty years, increasing Dr J Net Worth. In 2016 Julius sold the title of “Dr. J” to Authentic Brands Group (ABG). As part of the transaction, he was offered an upfront buyout and annual set royalties. ABG has the name rights and likeness to various celebrities, particularly famous ones who died like Elvis, Marilyn Monroe, and Muhammad Ali.

Dr J Net Worth

As per our estimates, Dr J net worth or wealth value is about $50 million in 2022. He earned this significant income by being a professional basketball player, and entrepreneur and winning several awards and recognition.

Dr J Instagram

To keep up-to-date with Dr J, the best way to follow him would be Instagram.
Follow Dr. J on Instagram : Dr J Instagram