James Harden Invests In Saks - All About The Sports Star's Money

Professional basketball player, James Harden announced on Monday via his Instagram that he has invested in Saks, a luxury retail company. The NBA star purchased a minority stake and the company and will become a member of its board where he'll give advice on growing high-potential consumer brands as well as help expand the company's e-commerce platform. 

In the post, Harden wrote, "I am honored to join the Saks board and to be a part of a company that is paving the future of luxury retail. This is an exciting opportunity for me to combine two of my passions – a love of fashion and teaming up with brands that have the potential to lead while making an impact on the communities they serve."

The Brooklyn Nets player, who is only 31, has quite a large following comprising mainly of the NBA's younger audience, putting him in a great position to leverage his name and influence into growing Saks.

"As we work to build this new board, James is an important and valuable addition," Saks' chairman Richard Baker said in a statement. "With experience in growing businesses and as someone who values self-expression through fashion, I am confident that he will bring a distinct point of view that will help us better deliver for our customers."

Financial details of the are yet to be revealed, however, Harden is reportedly worth some $145 million, the bulk of it from his salary at the NBA and investments.

Initially, the star was earning about $14.7 million per annum as an NBA player. Later, this sum was increased to about $40 million as he became a more central player for the Rockets. In 2017, Harden signed a new contract that was set to make him the richest player in NBA history. The contract, which was in the form of a four-year extension with the Rockets was worth $228 million, paying James an average of $47 million per annum.

Not depending on his salary alone, Harden has been into a few partnerships - one of which was the partnership with Amazon to share his workout products. He also has a 13-year old partnership with Adidas worth about $200 million, which fetches him an average of $15 million annually.

For investments, the star purchased a home for $2 million. The property, which was located in Houston, formerly belong to Cuttino Monkey, another NBA player.

In 2019, Harden entered real estate again, this time, on a much more expensive note. He reportedly paid $10 million for a property in Rivercrest – an affluent neighborhood in Houston's suburbs.

James Harden's investment portfolio also includes his shares in sports drink company BodyArmor, Art of Sport which a body and skin-care brand, custom-made for athletes, and sock company Stance. 

In 2019, he also purchased a $15 million stake in soccer teams Houston Dynamo of the MLA and the Houston Dash of the NWSL. 

James Harden is one of the NBA's most prolific scorers and has frequently been called the best shooting guard in the NBA, as well as one of the best players in the league.