Patrick Mahomes Net Worth 2024 (Salary, Contracts and Endorsem*nts) (2024)

Patrick Mahomes Net Worth is estimated to be $90 million. Kansas City Chiefs’ quarterback Patrick Mahomes is considered one of the best quarterbacks in the NFL and is already seen as a future Hall-of-Famer.

Born on September 17, 1995, in Tyler, Texas, Patrick Mahomes was destined for greatness from a young age. Raised by his father, Pat Mahomes Sr., a former Major League Baseball pitcher, he developed a strong work ethic and love for sports. Excelling in both football and baseball during high school, Mahomes caught the attention of college scouts nationwide

Patrick Mahomes has won three Super Bowl Rings and only lost one Super Bowl game against Tom Brady’s Tampa Bay Buccaneers. Mahomes is known for being an outstanding quarterback with a great personality and charisma. This success has led to major paydays, making him one of the highest-paid players in the NFL. Today, we are not just talking about his net worth.

Patrick Mahomes led the Kansas City Chiefs to their first Super Bowl appearance in 50 years (Super Bowl LIV), where they defeated the San Francisco 49ers for their first Super Bowl victory since 1970. Mahomes was named the Super Bowl MVP for a second time in the Chiefs’ 38-35 win over the Eagles in Super Bowl 2023, and a third time when Kansas City beat San Francisco 25-22 in Las Vegas in Super Bowl 2024.

In this article, we are going to discuss the Patrick Mahomes net worth, his earnings from NFL, endorsem*nts deals and his charity work.

What is Patrick Mahomes Net Worth?

Patrick Mahomes is an American professional football player with a net worth of $90 million and a salary of $40 million. He played quarterback for Texas Tech before being drafted as the 10th pick in the first round of the 2017 NFL Draft by the Kansas City Chiefs. Today, he is one of the highest-paid athletes in the world. In 2020, Patrick led the Chiefs to their first Super Bowl win since 1969. He led the team to another Super Bowl win in 2023.

Patrick Mahomes started his Kansas City Chiefs career with a rookie contract earning him only $555,000 a year. Later, he signed a 10-year deal worth half a billion dollars, making him the world’s first professional athlete to do so. This deal earned him $45 million annually.

Recently, the Chiefs restructured his contract, and now, with the new four-year deal, Mahomes will earn $210.6 million. His endorsem*nt earnings are estimated to be over $7 million. There is no doubt that Patrick Mahomes’ net worth will grow significantly in the coming years.

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Patrick Mahomes Net Worth Highlights

Patrick Mahomes net worth is $90 million. He started his career with the Kansas City Chiefs on a rookie contract earning $555,000 a year. He later signed a historic 10-year deal worth $500 million, making him the world’s first professional athlete to secure such a contract, with an annual salary of $45 million. Recently, the Chiefs restructured his contract to a new four-year deal, earning him $210.6 million. Additionally, Mahomes earns over $7 million from endorsem*nts.

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Patrick Mahomes Net Worth Growth

Patrick Mahomes Net Worth (Salary and Contracts)

In 2017, when Patrick Mahomes first joined the NFL, he signed a four-year deal with the Chiefs worth $16.2 million. The contract was fully guaranteed and included a $10 million signing bonus. After proving he was a superstar, many NFL analysts predicted his next contract would be unlike any the league had ever seen, and they were right.

Before the Super Bowl, Patrick had two years left on his rookie deal. He became eligible for an extension right after the Super Bowl. Many believed this extension would break NFL records. The common prediction was that Patrick would sign a $200 million contract. This contract was expected to be at least 50% guaranteed and provide $40 million per year in average salary.

To understand how big $200 million is, consider that when Eli Manning retired around the time of the 2020 Super Bowl, he had a record $252 million in career earnings. Eli earned that amount over 17 years with multiple large contracts.

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Patrick Mahomes Net Worth ($500 Million Contract)

Patrick Mahomes net worth is around $90 million. On July 6, 2020, it was reported that Patrick Mahomes signed a 10-year extension with the Chiefs worth “over $400 million in total”. Initially, it was unclear how much of this would be a signing bonus or guaranteed.

Later, it was revealed that the full potential value of Mahomes’ contract could be $503 million if it lasts the entire term. The contract includes $477 million in “guaranteed mechanisms,” with $140 million fully guaranteed against injury. Patrick Mahomes is the first half-billion-dollar athlete in sports history.

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Patrick Mahomes Net Worth (Kansas City Royals)

In August 2020, after winning the Super Bowl earlier that year, it was revealed that Patrick Mahomes had signed a $500 million contract and also acquired an ownership stake in the Kansas City Royals baseball team. It’s unclear how large his stake is, but the team was bought for $1 billion a year earlier. So, a 1% ownership stake would cost about $10 million. Up until this point, Mahomes had earned a total of $13 million from playing football.

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Patrick Mahomes (Endorsem*nt Deals)

After his MVP season, Patrick Mahomes started getting many endorsem*nt deals. His first deal was with Hunt’s, followed by deals with Oakley, Essentia Water, Hy-Vee, State Farm, DirecTV, Adidas, and Head & Shoulders. He was the first Chiefs player on the cover of Madden NFL 20.

Mahomes is also on the cover of Madden NFL 22 with Tom Brady. He is the first NFL player to sign a deal with Oakley and is the face of their ‘Prizm Optics’ line. He earns about $7 million per year from endorsem*nts in addition to his regular income. These endorsem*nt deals add a lot to Patrick Mahomes’ net worth, allowing him to enjoy a luxurious and happy lifestyle.

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Patrick Mahomes Net Worth (Real Estate and Car)

In 2019, Patrick Mahomes bought a home in Kansas City for $1.9 million. He listed this home for sale in June 2019 for just under $3 million, and it sold in a few days.

In early 2020, Patrick bought a home in Dallas for $3.4 million. Mahomes drives a Ferrari 812 Superfast.

In 2021, he paid $400,000 for an undeveloped lot in the exclusive Kansas City gated community of Loch Lloyd. By 2023, he finished building his dream home there, which includes a massive mansion, giant pool, private pond, a par three golf hole, and half a football field with his personal logo and name in the endzone.

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Patrick Mahomes Net Worth (Charity Work)

Patrick Mahomes runs a charity called the ’15 and the Mahomies Foundation’ which aims to improve the lives of children. Along with former teammate Tyrann Mathieu and other NFL players, Mahomes has spoken out against police brutality and violence against black people in the United States. They also called on the NFL to admit it was wrong to silence Colin Kaepernick and Eric Reid for their protests during the National Anthem.

Mahomes and Mathieu started a voter registration project in Kansas City to encourage residents to register to vote in the 2020 Presidential Election. He motivated his Chiefs teammates and worked with them to urge other players to vote. He also joined LeBron James’ Rock the Vote initiative to encourage people to register and vote.

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Conclusion

Patrick Mahomes net worth is estimated to be $90 million. Mahomes has quickly become one of the most successful and highest-paid athletes in the NFL. With a net worth of approximately $90 million, his wealth comes from a combination of his NFL contracts, endorsem*nt deals, and smart investments. His groundbreaking $500 million contract with the Kansas City Chiefs and his various endorsem*nts with big brands like Adidas, State Farm, and Oakley significantly boost his earnings. Additionally, his investments in real estate and even an ownership stake in the Kansas City Royals further add to his financial success. Mahomes also dedicates his time and resources to charity through the ’15 and the Mahomies Foundation’, showing his commitment to giving back.

Patrick Mahomes Net Worth 2024 (Salary, Contracts and Endorsem*nts) – FAQs

What is Patrick Mahomes net worth?

Patrick Mahomes is an American professional football player with a net worth of $90 million and a salary of $40 million.

How Did Patrick Mahomes’ Early Life Influence His Success?

Patrick Mahomes was born into a family with a strong sports background, particularly with his father, Pat Mahomes Sr., being a former Major League Baseball pitcher. His upbringing instilled in him a solid work ethic and a passion for sports, which undoubtedly played a significant role in shaping his success both on and off the football field.

What Contributed to Patrick Mahomes’ Rise to NFL Stardom?

Mahomes’s exceptional talent and athleticism were evident from his high school days when he excelled in both football and baseball. His decision to accept a football scholarship to Texas Tech University provided him with the platform to showcase his skills, ultimately leading to his selection by the Kansas City Chiefs as the 10th overall pick in the 2017 NFL Draft.

What Contract Milestones Has Patrick Mahomes Achieved?

In 2020, Patrick Mahomes made headlines with a groundbreaking 10-year contract extension with the Kansas City Chiefs, valued at a staggering $450 million. This landmark deal not only solidified his position as the face of the franchise but also elevated him into the upper echelon of the sports financial elite, showcasing his exceptional value both on and off the field.

How Has Patrick Mahomes Diversified His Portfolio?

Beyond his achievements on the football field, Patrick Mahomes has strategically diversified his portfolio through smart investments and lucrative endorsem*nt deals. Partnering with global brands such as Adidas and State Farm, as well as venturing into the restaurant industry, Mahomes has demonstrated his business acumen and entrepreneurial spirit, further enhancing his financial standing.

What Is Patrick Mahomes’ Estimated Net Worth in 2024?

While exact figures may fluctuate due to market conditions and undisclosed earnings, industry experts estimate Patrick Mahomes’ net worth to exceed $150 million in 2024. This significant wealth is attributed to his on-field success, endorsem*nt deals, and savvy investments, solidifying his status as one of the most financially successful athletes of his generation.