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How Olympic snowboarder Shaun White makes and spends his millions

Money logo Money 2/14/2018 Alix Langone
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Shaun White may be best known for his snowboarding and skateboarding skills, but the three-time Olympic gold medalist has also managed to parlay his athletic career into an impressive financial portfolio — becoming a millionaire before he turned 20 thanks to plentiful endorsement deals.

Despite his high-flying lifestyle now, White didn’t grow up rich — his mother was a waitress and his dad worked at a water utility company in California, according to Fast Company. But his snowboarding career changed all that — and he now has dozens of endorsement deals worth million of dollars each, ranging from contracts with global corporations like AT&T to more niche companies like GoPro.

White, 31, changed talent agencies last year, moving from Creative Artists Agency to sign with the United Talent Agency, where he said he wants to “grow my various businesses.” Business savvy aside, White also knows how to have fun. He bought a Lamborghini at one point, but says he totaled it the first month he owned it. He also recently published his memoir, F*** It: I’m Here to Win, which includes journal entries, photographs and even art made by White.

His longtime success as an athlete has earned him a massive net worth ranging between $20 million and $40 million — making him one of the richest winter Olympians — though it’s hard to nail down an exact figure. What we do know is that he’s been aggressively investing in real estate as well as other projects.

Before White prepared to compete in the halfpipe final on Tuesday, allegations against him of sexual harassment resurfaced. White settled a 2016 lawsuit brought by a former drummer in his rock band that he “repeatedly sexually harassed her.”

Here’s what we know about how White makes and spends his money:

Real estate

White may be known for his flips on mountains, but the extreme athlete has also made a name for himself buying and flipping some stunning real estate across the country.

According to Variety, White put numerous properties up for sale in 2017 including:

- An Encinitas, Calif., house he put on the market for $7.8 million (and used to rent for up to $25,000 a month)

- His Hollywood Hills West mansion sold for $6.7 million this summer to Shark Tank‘s Robert Herjavec

- An East village penthouse in New York City that he put on the market for $2.8 million

- A four-bedroom Carlsbad, Calif., house he sold for $1.075 million

But he still has plenty more homes left to hang out in:

- A Park City, Utah, condo

- A Malibu home for that rents for $17,500 a month

- A second Malibu home next door to the Point Dume rental that he bought for $10.75 million

- A newly purchased $1.6 million Laurel Canyon home

Investments

The “Flying Tomato” is one smart cookie — White purchased a minority stake in the company that runs Mammoth Resorts in 2016, reportedly making a “seven-digit” investment. That made him a part of owner of more than 4, 000 acres of land in California, according to the Los Angeles Times.

The Times also reported he spent $38 million to purchase two Southern California ski resorts — Snow Summit and Bear Mountain —where he regularly practices.

2018 Olympics

If he takes home a third gold medal at the 2018 Winter Olympics in Pyeongchang, he’ll pocket a cool $37,500 — a 25% bump from the Rio Games and the highest prize money the United States Olympic Committee has ever awarded, according to the organization. And he’ll get to keep every penny thanks to Sen. Charles Schumer’s bill making Olympic earnings tax-exempt.

On top of his two Olympic gold medals, throughout his career White has also earned 15 gold medals and 23 medals at the X games.

Endorsement deals

After more than two decades on the slopes, he has a laundry list of sponsorships and endorsements for which he reportedly earns at least $2 million per deal, according to Forbes. His longest deal is with snowboard manufacturer Burton, which he signed with at just seven years old. He and his brother Jesse have designed everything from underwear to snowboarding boots for the brand.

White also helped Oakley develop their first-ever signature goggles, which became one of their best sellers in the early 2000s, as well as collaborating with the brand to design one of their best-selling pairs of sunglasses.

2018🔥 @tobymiller #fire

A post shared by Shaun White (@shaunwhite) on

Additionally, he’s cemented deals with major corporations like Verizon, Target and HP, which tapped White to appeal to a younger audience in a series of commercials that also starred celebrities like Serena Williams and Jay-Z. He’s also recently inked endorsement deals with numerous other organizations including Beats by Dr. Dre, Red Bull, Ubisoft and Playstation — though it’s unclear how much he makes from these partnerships.

Personal projects

On top of the hefty endorsement deals, White owns a smartphone app called Downhill Dash and has released multiple video games.

His first video game, “Shaun White Snowboarding,” — which became a franchise — came out in 2008 and sold more than 3 million copies, according to ESPN. White also became the majority owner in an international music and sports festival called Air + Style four years ago.

And at age 29, White debuted a clothing line called WHT Space, a hands-on collaboration with Macy's.

Related gallery: What the Olympics cost from 1948 to today (provided by Money Talks News)

Crazy Expensive: What the Olympics Cost From 1948 to Today: <p>To win the right to host the Olympics — usually a decade-long project in itself — cities need to demonstrate they can accommodate all the events, house the athletes and handle the crowds that will descend for the two-week extravaganza.</p><p>And they have to do it all in a manner meeting the lofty ideals of the Olympic tradition. That usually means a hefty investment — for the sports venues, infrastructure upgrades, security and management.</p><p>But the modern Olympics have gone well beyond meeting the requirements of international athletic competitions. Now, the goal is to turn the games into massive extravaganzas, with construction and entertainment that runs into the billions.</p><p>Beijing’s 2008 opening ceremony alone — a four-hour fireworks spectacular with tens of thousands of performers — is estimated to have cost more than $100 million. That’s a far cry from the humble Olympic Games of 1948 hosted by a post-war London.</p><p>Nailing down the final cost of the Olympic Games is tough. Host countries vary in their accounting, their degree of transparency and the magnitude of corruption — which can drain millions of dollars, even billions in some cases. The return on investment also varies widely depending how much is spent on longer-term investments — say infrastructure — versus other hosting costs.</p><p>Nonetheless, we’ve pulled together estimates from an array of reputable sources, and adjusted for inflation. Check out how things have changed over the years. All amounts are in today’s dollars.</p><p><a href="https://signup.moneytalksnews.com?utm_source=msn&amp;utm_medium=feed&amp;utm_campaign=msn-newsletter-signup">It's not the usual blah, blah, blah. Click here to sign up for our free newsletter.</a></p> Crazy expensive: What the Olympics cost from 1948 to today

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