Rich Paul is the founder of Klutch Sports and he's also the leader of the UTA's sports division. He's one of the most well-known figures in the sports world, and he's been at the forefront of negotiating hundreds of millions of dollars in active deals. He's a prolific agent who has an estimated net worth of $100 million. This is a huge fortune, but how did he come to be so incredibly rich? We looked into his career to attempt to learn more about his journey and where he made the bulk of his money and here is what we learned.
He's one of the most powerful agents in the sports world
Forbes has ranked Rich Paul as number 19 on its list of the top Sports Agents for 2019. This is quite the distinction with the hundreds of agents out there working. When it comes to the world of professional basketball, he's had a decent share of clients with a total of 23 of them as of the end of 2019. He has negotiated a total of $814 million in contracts through the Klutch Sports Group.
He works with the big names in the business
Rich Paul has represented some of the biggest stars in professional basketball. He negotiated contracts for Christon Thompson, and Anthony Davis. Among his most notable clients are John Wall, and the great LeBron James. Forbes has been tracking his progress and he's made some impressive deals for the players that he represents.
He's been credited with reshaping the league
Paul has risen to the status of greatness in his niche of the industry. He's made more press than some of the owners or even star players in the past year. It was Rich Paul who made the demand that New Orleans trade Anthony Davis and this helped him to pair Davis and James together in Los Angeles. This was a step that showed he has the power to transform the National Basketball Association and become a major disruptor within the league. He's not only LeBron James' agent, but he's also a good friend and it's been rumored that they have even bigger plans to begin reshaping the league. This is the clout that is not commonly seen among agents.
His early years
Rich Paul wasn't born into a wealthy family. He was raised in an impoverished family. He was born in 1981, and he was raised in Cleveland, Ohio, living in poverty and harsh conditions. His father passed away in 1999 and this was yet another strike against the likelihood of his success. He was raised in a neighborhood where drug abuse and gun violence were commonplace. Prior to his passing, his dad instilled some solid values in Rich. He taught him that it was important to constantly reach higher levels of success and to make significant accomplishments in his life.
Rich Paul is a big dreamer
Rich took his father's words to heart and he maintained a dream of making it big while doing something that he loved. He is a man who is action-oriented and he doesn't slow down when he's made a big accomplishment. Paul founded the Klutch Sports Group and he made his dreams a reality by enticing some of the biggest stars in pro basketball into the fold. He delivered high on his promises as an agent because Rich Paul is a determined professional who believes in his ability to perform at peak and he keeps his eye on the prize and doesn't back down from challenges.
His career started humbly
Paul had an entrepreneurial spirit since he was a young man. He started out working as an entrepreneur when he was still a teenager barely out of high school. He started selling rare sports jerseys. He didn't have an office so he sold them from the back of his vehicle. He had a chance meeting at an airport where he was peddling his jerseys. He ran into LeBron James and he caught James' attention and he took down his contact information. The two connected and Rich sold James more jerseys.
It was Paul's relationship with James that gave him a leg up on becoming a successful sports agent. He became one of LeBron's friends where he met people who were well connected in the sports industry. He started out as James' personal assistant and earned $50,000 per year working for him. He learned everything he could about the sports industry and then decided to launch his own agency.
He's almost at the unicorn sweet spot
With $814 million in negotiated contracts, Rich Paul has almost reached the unicorn status of $1 billion. This is just one more of his many accomplishments and when things get back to normal in the sports world, it's anticipated that it won't take him long to reach and exceed that mark. He's well on his way
How much does he make a year?
This depends on the year that you choose to look at. In 2019 alone he brought in an estimated $70 million for his agent fees and commissions. He's earned a reputation for building super teams and any player is happy to be represented by Rich Paul. Some years he has brought in $30 million in commissions, but in the short time since he first began in 2012, he's amassed a true fortune of $100 million.
Rich Paul is an example of what belief in yourself and a drive to succeed can do in your life. He was born in a poor family and grew up in a dangerous neighborhood. His parents instilled some solid values in him as he was growing up. He's a mover and a shaker and he simply goes to work to reach one big goal after another without slowing down or looking back. He's a self-made man who was in the right place at the right time and knew when to strike out on his own.
Written by Allen Lee
Read more posts by Allen Lee