8 businesses owned by Julius Erving

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Julius Winfield Erving II, famously known as Dr. J, revolutionized basketball with his dynamic play style, both in the American Basketball Association (ABA) and the National Basketball Association (NBA). Born on Feb. 22, 1950, in East Meadow, New York, and raised in Roosevelt, Erving’s basketball journey started at Roosevelt High School and flourished at the University of Massachusetts Amherst, where he dominated college basketball with his remarkable scoring and rebounding.

Erving’s professional career began with the Virginia Squires in the ABA in 1971, where his electrifying dunks and scoring prowess quickly made him a star. After a contract dispute and a brief stint with the Atlanta Hawks, Erving returned to the ABA, leading the New York Nets to two championships and earning multiple MVP titles. His success played a pivotal role in the ABA-NBA merger in 1976.

Transitioning to the NBA, Erving joined the Philadelphia 76ers, where he continued to shine, captivating fans with his artistic dunks. Erving propelled the team to the NBA finals four times within a span of seven years, ultimately clinching the championship in a triumphant 1983 victory. Honored as the NBA’s Most Valuable Player in 1981, Erving retired in 1987, leaving a legacy that included surpassing the 30,000 career points milestone, a feat achieved by only a select few in the sport’s history. Erving’s contributions to the game were further solidified when he was named one of the NBA’s 50 greatest players in 1996 and inducted into the Naismith Memorial Basketball Hall of Fame in 1993.

Beyond his on-court achievements, Erving seamlessly transitioned into roles as a respected television analyst and a shrewd executive with the Orlando Magic post-retirement. His astute business acumen was acknowledged by the widely regarded NBA’s GOAT, none other than basketball legend Michael Jordan.

Here at Billionaires.Africa, we share insights into the success of some of Dr. J’s business ventures that accumulated into his $32-million net worth.

  1. THE ERVING GROUP INC

Julius Erving, known for his basketball legacy, founded The Erving Group, Inc. in 1990. Drawing from his own rich experiences, Erving’s company is dedicated to providing practical advice and consultancy across a wide range of areas. The goal of The Erving Group is to help clients navigate various challenges by offering strategic insights and solutions. Whether it’s advising startups or consulting for established businesses, the company applies Erving’s principles and learnings from his career and life to add value in diverse sectors. Through The Erving Group, Erving has managed to extend his impact beyond the basketball court, applying his winning mindset to the business world and supporting others in their quest for success.

  1. DR. J ENTERPRISES

Julius Erving runs Dr. J Enterprises, a company that handles his brand’s merchandise, media appearances, and charity work. This business has been very successful, creating about $2.5 billion in revenue and value for its partners and clients. In 2016, Erving took a big step by partnering with Authentic Brands Group to expand his brand’s global presence.This move shows his dedication to expanding his influence beyond just sports, leveraging his fame to make a significant impact in business and philanthropy. Dr. J Enterprises has become a major player in managing the many aspects of Julius “Dr. J” Erving’s legacy, showing how sports icons can also become successful entrepreneurs and philanthropists.

  1. MOBILECOIN

Julius Erving, famous for his basketball career, has moved into the digital finance world by investing in MobileCoin, a cryptocurrency company. In 2021, he was among the major investors in a $66 million Series B funding round for MobileCoin. Founded in 2017 by Josh Goldbard and Shane Glynn, MobileCoin aims to make online financial transactions more private, secure, and easy to use. This investment marks Erving’s entry into the fast-growing field of digital currencies, showcasing his interest in supporting innovative financial solutions. MobileCoin stands out for its focus on improving the way people send money to each other online, aligning with Erving’s forward-thinking approach to investments.

  1. BLACK SHEEP MOB

Julius Erving founded Black Sheep Mob, a distinctive e-boutique specializing in children’s clothing. It is a luxury, street-inspired brand that creates edgy, avant-garde, and fashionable children’s wear at affordable prices. Their unique style appeals to those who appreciate a blend of luxury and street fashion. This business endeavor highlights Erving’s innovative approach to investments, extending his influence beyond the basketball court into the bustling world of e-commerce.

  1. ANTHEM MEDIA GROUP INC.

Julius Erving, known as Dr. J, has expanded his influence beyond basketball, becoming a shareholder and brand ambassador for Anthem Media Group Inc. This company, which runs the FNTSY Sports Network and RotoExperts.com, benefits from his support. Erving’s involvement with Anthem Media is a unique blend of his legendary basketball background with the evolving world of fantasy sports. By stepping into this new role, he’s helping to shape the future of fantasy sports, combining his rich history in sports with the company’s goal to innovate in the field. This partnership represents a significant move for both Erving and the fantasy sports industry, as they work together to bring new ideas and growth to the sector.

  1. NASCAR BUSCH SERIES

Erving’s passion for motorsports took a distinctive turn when he partnered with ex-NFL star Joe Washington, venturing into NASCAR’s competitive world. This collaboration, transitioning from basketball and football to car racing, was not just ambitious but also a symbolic fusion of sports disciplines. Launching a team in the NASCAR Busch Series, they set out on an exploration that married the essence of high-speed racing with their foundational sporting spirits. More than just venturing into new territory, their partnership stood as a celebration of competition and a bold step beyond the fame of their original sports. This leap into motorsports was a clear signal of their readiness to confront new challenges and merge the diverse cultures of athleticism with the exhilarating tests of car racing, making their journey an inspiring bridge across worlds.

  1. LIBERTY COCA-COLA BEVERAGES

Erving co-owned Liberty Coca-Cola Beverages, an extensive operation that bottled and distributed products from Philadelphia to New York City, and from Delaware to Connecticut. This business was a major employer and generated significant revenue, highlighting Erving’s ability to influence the economy broadly. Eventually, the venture was returned to Coca-Cola, who subsequently sold it to local executives in 2017.

  1. REAL ESTATE

Julius Erving has smartly invested in real estate, owning both commercial and residential properties in prime locations across the United States. These investments have been very successful, significantly boosting his net worth. His portfolio includes a mix of business spaces and private homes, showcasing his diverse approach to investing. This strategic selection of properties not only demonstrates Erving’s understanding of the real estate industry but also adds a considerable amount to his financial assets.