Facts of Yao Ming
|Full Name||Yao Ming|
How Much Is Yao Ming’s Net Worth?
Named to the All-NBA Team for 5 times, Yao Ming is a retired professional basketballer, who currently serves as Chinese basketball executive.
Well, with a history of incredible game plays, Ming not only attracted the attention of many basketball lovers, but also a whopping fortune. Currently, he has an estimated net worth of $120 million.
While in his professional career from 1997 to 2011, he played for the Shanghai Sharks of the Chinese Basketball Association (CBA) and Houston Rockets of the National Basketball Association (NBA).
Yao Ming’s Net Worth Is $120 Million: Income Sources & Earnings
Listed in 20 richest NBA Players in the world, Yao Ming's career journey of 14 years showered him a hefty salary and endorsement deals.
As much as his fame, the Chinese basketballer's income climbed up to million dollars since his transition from CBA to NBA.
Meanwhile as of May 2020, Yao Ming's net worth is estimated to be $120 million, according to Celebrity Net Worth. The credit for the chunk of money goes to his alluring contracts and salary as well as numerous endorsements.
As reported, when Ming retired in 2011, his salary was around $17.68 million as a result of 5-year contract extension worth $75 million with Rockets.
Talking about the earnings of NBA players, it depends on the kind of contract they sign. At the moment, maximum players right now make between $26 million to $30+ million a year and rookies and lower level players make around $2 to $4 million a year.
Contracts & Salary From Houston Rockets
Well, the details on Yao Ming's earnings from Shanghai Sharks is not out, but had probably pocketed a hefty sum. His massive eye-catching earnings came up after he joined NBA team Houston Rockets in 2002.
Here is the list of Ming's contract with Rockets:
- Signed a 3-year contract worth $12.4 million (October 8, 2002)
- Exercised a $5.59 million option for 2005-06 season (September 16, 2004)
- Contract extension worth $75 million for 5 years (Signed on September 1, 2005)
As reported, playing for the NBA's Houston Rockets, Yao Ming made a total career salary of $93.39 million. Have a look at the table:
Talking about his career, he played for the Shanghai Sharks junior team of the CBA for four years. After that, he joined the senior team of the Sharks and has played in numerous games.
Later in 2002, he decided to enter the NBA draft and later a group of advisers was formed called “Team Yao”. Well, Ming was picked by Huston Rockets, making him the first international player to be selected without having played in the US college basketball.
Playing basketball for decades (9 Seasons in NBA), he finally decided to retire from baseketball in July 2011, after a series of his injuries.
Endorsements, Instagram Earnings & Business Venture
When he was still playing, famous brands including, Reebok, Visa, Garmin, McDonald’s, Yanjing and Appel were his sponsors.
In 2010, Sports Illustrated listed Yao to be earning a whopping amount of $34.37 million through endorsements.
He also makes a few money from his social media account. According to Influencer Marketing Hub, he makes around $1,136.25 to $1,893.75 per post in his Instagram account.
Yao has a number of personal investments endeavors which includes a restaurant in Huston and Shanghai and a winery in California.
Moreover, he also launched the NBA Yao Basketball Club in association with NBA China in 2014. Yao is also listed as the seventh biggest shareholder in a Shanghai exhibition company called “Blues Design”.
Yao Ming’s Assets, Charity, Tax, Insurance, Lifestyle & Expenses
Yao Ming is the richest NBA player which there is no doubt that he is living a lavish life along with his wife and children in a lavish mansion. He owns a house in Huston which worth $3.99 million. 12,000 sq. ft. the house features six bedrooms and nine bathrooms with a swimming pool.
In addition to that, his asset collection includes a BMW 7 series special edition care which is worth more than $91,250. He also drives a Range Rover which worth $89,000 to $177,000.
Tax & Insurance
Yao pays around $76,808 annually as property tax for his $3.99 million mansions. Further, he pays around $43,565,988 for Federal, $2,888,532 for FICA, $10,034,424 for state, and $4,641,036 for Local. Paying all the taxes he takes home only around $58,870,020. Talking about his car Insurance, he has to pay around $2,852 per year for his two cars.
Talking about his charity work, he has supported many foundations include:
- Africa Wildlife Foundation
- Chi Heng Foundation
- China Youth Development Foundation
- NBA Cares
- Project Hope
- Red Cross
- Save the Elephants
- Shark Savers
- Yao Ming Foundation
Further, he even hosted a telethon, which raised $300,000 to help the spread of SARS. Back in September 2007, he held an auction that raised $965,000 and competed in a charity basketball match to raise money for underprivileged children in China.
He also donated $2 million to relief work and created the Yao Ming Foundation to help rebuild schools destroyed in the earthquake.
Yao Ming’s Personal Details: Age, Education & Marriage
Yao was born on September 12, 1980, in Shanghai, China. He is the only child of Yao Zhiyuan and Fang Fengdi, both of them were former professional basketball players.
When he was the age of 9, he began playing basketball and attended a junior sports school.
As of May 2019, Ming's age is 38 and has a height of 7 ft. 6 inches (226 cm).
Married Life & Children
Yao is married to Ye Li, another Chinese professional basketball player who played for China women’s national basketball team at the 2004 summer Olympics. They both met each other in 1998 and dated for almost 9 years before finally tying the knot in August 2007.
After 3 years of their marriage they were blessed with their first baby girl Yao Qinlei (Amy in English).
The family of three are living a happy life in the United States of America.