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Shedeur Sanders\u2019 financial goals are audacious, but not unheard of.<\/p>\n
\u201cIt starts with B and ends with an E,\u201d Sanders, the 22-year-old son of NFL Hall of Famer Deion Sanders, said in an interview. \u201cBillionaire. That\u2019s what it got to be.\u201d<\/p>\n
Billionaire athletes are rare. Michael Jordan\u00a0sold his stake<\/a>\u00a0in the Charlotte Hornets for $3 billion. LeBron James\u00a0had\u00a0a net worth<\/a>\u00a0of about $1.1 billion, according to the\u00a0Bloomberg Billionaires Index.<\/p>\n The younger Sanders\u00a0is already a household name among college football fans as a star quarterback at\u00a0the University of Colorado, where his father is entering\u00a0his second season as\u00a0head coach<\/a>. He\u2019s been\u00a0cashing in on that fame by using\u00a0a big\u00a0online following<\/a>\u00a0\u2014\u00a0including 1.8 million on Instagram<\/a> \u2014\u00a0to ink\u00a0endorsements with Nike<\/a> and other brands\u00a0worth an estimated $4.7 million, according to On3.<\/p>\n That tied Shedeur\u00a0for the most\u00a0among college athletes with Bronny James, another son of a superstar athlete (LeBron). And Shedeur\u2019s celebrity is likely to keep rising\u00a0with him\u00a0expected to be one of the top picks in\u00a0next year\u2019s NFL Draft<\/a>. If it does, he\u2019ll have a clothing brand he founded called Legendary\u00a0to pitch to the fans of his new\u00a0team.<\/p>\n Shedeur\u00a0recently spoke to Bloomberg about crypto mistakes, partnering with his dad\u00a0and other investment advice, as part of\u00a0Lessons and Investments<\/em>, a\u00a0new short video series where athletes, commentators and investors speak about their best \u2014\u00a0and worst \u2014\u00a0investments. The series has featured boxing champion\u00a0Terence Crawford<\/a>, Super Bowl champion\u00a0Michael Strahan<\/a>, Olympic gold medalist\u00a0Sydney McLaughlin<\/a>, San Antonio Spurs basketballer\u00a0Victor Wembanyama<\/a>\u00a0and more.<\/p>\n You\u2019ve made some splashy purchases so far, like that big gold chain you\u2019re wearing and a Rolls-Royce. Looking back, do you regret that kind of spending?<\/strong><\/p>\n My chain, every time I look at it inspires me. I like my cars every time I get in. It inspires me.\u00a0<\/p>\n Does your dad give you financial advice? Cut you in on deals?<\/strong><\/p>\n Me and my dad just did something that was like 100 something acres. I was never going to buy something small. My dad always had something that was 100 or more that was the standard, so why would I ever do something less?<\/p>\n OK.\u00a0 But do you always follow what he says?<\/strong><\/p>\n I did\u00a0Dogecoin<\/a>. And my dad said \u2018what are you doing with that?\u2019\u00a0<\/p>\n I invested like $3,000. This was like 2021 during the summer. It went all the way up. I was up $7,000. Man it crashed. I check it every now and then. I\u2019m down $2,000. I wish I would have just taken it out and listened to my dad when he told me. He said take it out right then. But I didn\u2019t.\u00a0<\/p>\n What\u2019s\u00a0your advice for those who are coming up through this relatively new era of college athletes\u00a0being allowed to accept endorsements\u00a0through name image and likeness (NIL) deals?<\/strong><\/p>\n Understand taxes are real. You are going to have to pay taxes. You can have all the fun you want because you are going to have to get it out of your system, but know that taxes are not playing with you.<\/p>\n What\u2019s\u00a0something you wish you invested in?\u00a0<\/strong><\/p>\n Nothing. I never have regrets because I really sit there and think about everything. The main thing in life, and the thing people don\u2019t understand is invest in your stock. That is the only brand that you can control. If them people are losing your stocks, they don\u2019t care about your money. You care about your money. If you invest in yourself and you fail, that\u2019s on you. So that\u2019s the main thing.<\/p>\n Invest in yourself.\u00a0Invest in what will make you successful.<\/p>\n Editor\u2019s note: This interview has been edited and condensed.<\/em><\/p>\n<\/div>\nLearn how to take control of your personal finances with Get Your Due, our six-week email bootcamp. Sign up<\/a> for free.<\/div>\n