When it comes to NBA wealth, names like Michael Jordan, Magic Johnson, and LeBron James immediately come to mind. But few realize that Junior Bridgeman — a former Milwaukee Bucks sixth man — quietly amassed an empire variously estimated in worth from $600 million to $1.4 billion. Despite making just $2.95 million over his 12-season career, Bridgeman’s story is one of perseverance, strategy, and hustle.
The former All-America guard at the University of Louisville born Ulysses Lee “Junior” Bridgeman, passed away on March 11 at the age of 71 at Boy Scouts luncheon after an apparent heart attack. Bridgeman, selected eighth overall in the 1975 NBA draft, played 12 seasons in the league for the Milwaukee Bucks and Los Angeles Clippers. While he earned respect from teammates and opponents alike, he earned more financially off the field. After retiring from basketball, Bridgeman became not only a hugely successful businessman but also a dedicated community leader first in Milwaukee and inLouisville, Kentucky, where he coached youth sports and mentored aspiring athletes.
Bridgeman was drafted by the Lakers, only to be traded to the Bucks in the deal that sent Kareem Abdul-Jabbar to Los Angeles. He never made more than $350,000 in a single season, ESPN reported.
The Path to Financial Literacy
From a young age, Bridgeman knew the importance of financial responsibility. Growing up in East Chicago, he worked summer jobs to stretch his earnings through the school year. After joining the NBA, he quickly learned that his paycheck, while substantial by ordinary standards, needed to last months. Bridgeman set up a budget, aware that his career could unexpedely come to an end.
By 1978, he’d taken inspiration from then-Bucks general manager Wayne Embry, who also owned several McDonald’s franchises. Bridgeman knew little about the fast-food business, but he understood its potential. Bridgeman’s first major business venture was investing $150,000 into a cable television operation, which later earned him a $700,000 payout, ESPN reported.
Building the Fast-Food Empire
After retiring from the NBA in 1987, Bridgeman turned his attention to Wendy’s franchises. His first investment, a partnership with fellow NBA player Paul Silas, failed. Determined to succeed, Bridgeman completed Wendy’s training programs and personally worked in his restaurants to grasp the nuances of the industry.
It paid off. Within two years, his five Milwaukee Wendy’s locations were generating $2 million annually. Bridgeman continued to acquire more Wendy’s and added Chili’s franchises, ultimately owning more than 450 fast-food restaurants nationwide. At its peak, Bridgeman’s empire was one of the largest restaurant portfolios owned by a single individual in the U.S.
Bridgeman next became a Coca-Cola bottling distributor with territory spanning three states and parts of Canada. In 2016, he purchased Ebony and Jet magazines, preserving the legacy of two of America’s most iconic Black publications.
Financial Literacy Advocate
Throughout his career, Bridgeman saw countless players go broke despite lucrative contracts. He recognized a lack of financial education within the league and took it upon himself to educate his peers. Partnering with the National Basketball Players Association, Bridgeman created a program to teach players the ins and outs of running a business, emphasizing the importance of understanding finances.
Tributes
Following news of Bridgeman’s death, tributes from a wide range of people — from family, friends, business leaders, and sports stars — flowed. One that stood out was from NBA legend Shaquille O’Neal, who has built his own business empire. He paid tribute to Bridgeman, saying, “Junior Bridgeman is one of the smartest businessmen I know. He took his NBA money and multiplied it many times over. I’ve always looked up to him, not just as a player but as a businessman and a leader.”