After Lamar Jackson’s rookie contract expired he was able to bag a massive contract extension in 2023 with the Ravens making him the highest-paid player in the National League of Football and a two-time MVP.
In this piece, we will decode Lamar Jackson’s net worth as of 2024 and how significant his new deal with the Ravens was in boasting his newly earned wealth.
|Lamar Demeatrice Jackson Jr.
|$260 million over
|$52 million on average per year
|Nike, Adidas, Gatorade and more
|$1.5 million mansion
|2022 Rolls-Royce Ghost, Lamborghini Aventador, Bentley Continental GT
Lamar Jackson’s Net Worth
Lamar Jackson’s net worth is estimated to be $50 million as of 2024 according to most new reports. A bigger portion is attributed to his new contract extension with the Ravens which is worth $260 million over the next five months. In addition to his NFL salary, he also makes more than enough from endorsements, commercials, and investments.
How Much Does Lamar Jackson Make In a Year?
Lamar Jackson recently signed a new five-year contract extension worth $260 million with an average annual salary of around $52 million. However, when we add his endorsement deals, brand partnerships, and other investments his annual income is higher than the initial.
His new contract includes a $72,500,000 signing bonus and $185,000,000 in guaranteed money which is reflected in his new net worth.
Sources Of Income
Lamar Jackson has a diverse source of income. While his primary source of income remains his NFL salary, which is the highest in the NFL, he also earns a lot of money from endorsements, investments in various business ventures, technology, real estate properties, appearances in commercials, and other royalties he earns from his name.
NFL Career Earnings
Lamar Jackson has accumulated a high salary from his football career since he joined the NFL in 2018. According to the experts his NFL career earnings are over $100 million just from his salaries from 2018 to 2024.
As of 2024, he is the highest-paid NFL player on the scene who gets an annual check of an average of $52 million on top of his performance bonuses and incentives.
Lamar Jackson has been able to secure several notable endorsement deals, including:
- Nike: Jackson signed a groundbreaking endorsement deal with Nike in 2020, which remains one of the most lucrative endorsements in his portfolio, earning him approximately $15 million annually
- Adidas: In 2023, Jackson inked a multi-year endorsement deal with Adidas, solidifying his position as a brand ambassador for the iconic sportswear company
- Oakley: Jackson endorses Oakley, a prominent brand in the eyewear industry
- Gatorade: He has a partnership with Gatorade, which includes promotional campaigns and exclusive product lines, contributing to his endorsement income
- Panini: Jackson’s partnership with Panini, the leading trading card company, has become a lucrative endorsement deal.
Investments And Business Ventures
Lamar has a diversified portfolio of investments from food chains to real estate. Let’s take a look at his extensive list of business ventures and other investments
- Food Industry: Jackson has invested in and endorsed a food restaurant business named Play Action Soulfood
- Apparel and Entertainment: Jackson has ventured into the apparel business with Era 8 Apparel, offering various apparel products. He has also established Lamar Jackson Entertainment, which aims to provide music and entertainment.
- Virtual Reality Business: Jackson has backed a virtual reality business called StatusPro Inc., which is focused on sports technology. The company raised $5.2 million in funding, with investors including venture capital firms and organizations linked to NFL teams.
- Real Estate: Jackson has invested in real estate, purchasing properties in Baltimore, including a $1.5 million mansion. Entrepreneur and investor Grant Cardone has advised Jackson on how to invest his earnings in income-producing real estate to build long-term wealth.
Lamar Jackson has an impressive car collection worth millions of dollars that includes several luxury and high-performance vehicles of which he shares glimpses on social media. Some of the cars in his collection, as reported by various sources, include:
- 1969 Chevrolet Chevelle SS396
- 2019 Mercedes-Benz SL Class
- 2022 Rolls-Royce Ghost
- Lamborghini Aventador
- Bentley Continental GT
- Porsche Panamera Turbo S E-Hybrid
- Mercedes-Maybach S650
In conclusion, Lamar Jackson, the star quarterback for the Baltimore Ravens, has built a substantial net worth through his NFL career, endorsements, and various business ventures. He has invested in multiple industries and has been able to manage his finances effectively.
The highest-paid player in the NFL currently lives in a mansion and has millions of dollars worth of cars parked in his garage.