Patrick Mahomes’ net worth in 2024

Patrick Mahomes’ net wealth in 2024
Patrick Mahomes and the Kansas City Chiefs are once again in the playoffs, but what is the superstar’s net worth in 2024?
Patrick Mahomes’ net worth in 2023 is $70 million. Kansas City Chiefs star quarterback Patrick Mahomes won his second MVP and his second Super Bowl, coupled with a second Super Bowl MVP at the end of the 2022-23 season. In only about half a decade, Mahomes has already established himself as a future Hall of Famer and one of the best quarterbacks of all time. He is clearly the best quarterback currently in the NFL, and he is only getting started. After five straight AFC Championship game apperances, Mahomes’ Chiefs are once again in the playoffs. So, in this specific post, we’re looking at Patrick Mahomes’ net worth in 2024 as the 2024 NFL playoffs start up.

 

Thanks to information publicly available, we know that Patrick Mahomes’ net worth in 2023 is around $70 million, per Celebrity Net Worth. Obviously still very young in his career, this number should climb enormously year over year as he racks up successes and even more honors.

Since he took over as the starter, Kansas City has made it to the AFC Championship Game every single year (five times) and has made the Super Bowl three times, with a 2-1 record to his name after a Super Bowl 57 win over the Philadelphia Eagles. We’re talking dynasty territory for this Chiefs squad, and Mahomes has a chance to further his legacy in these playoffs. The Chiefs’ offensive this year has been terrible than it ever has been during Mahomes’ tenure, so it would be very exceptional if he could again carry the team to postseason glory.

Patrick Mahomes’ career
Patrick Mahomes’ journey to becoming a two-time NFL MVP winner and Super Bowl champion is astounding. Born in Tyler, Texas, in 1995, his dad Patrick Mahomes Sr. played professional baseball for over a decade. The younger Patrick also played baseball growing up and certainly could have gone pro (he was even drafted in 2014), but he chose football instead and finished up going to Texas Tech to play quarterback.

Mahomes wasn’t a blue-chip recruit when he joined up with the Red Raiders, but he eventually evolved into a college star and played three seasons in Lubbock. In the 2017 NFL Draft, a lot of teams passed on him early before the Chiefs came calling at No. 10 after they traded up with the Buffalo Bills. Needless to say, Kansas City is delighted with how things worked out considering it appears like Mahomes is an all-time great.

Patrick Mahomes’ salary
Patrick Mahomes’ first contract in the NFL was his rookie deal. That contract was worth $16.42 million over four years. As a first-rounder, the Chiefs also had an option to pick up a fifth year on his contract, which they did.

In 2020, Mahomes signed a 10-year contract deal for a record $450 million. However, with other quarterbacks signing deals having higher yearly value, the Chiefs and Mahomes agreed to modify his deal in September 2023. The new arrangement was for $210.6 million for 2023-2026 for an annual average value of $52.65 million. However, the new pact has the contract ending after 2026.

Mahomes came in at No. 24 on Forbes’ list of highest-paid athletes in 2023 prior to his contract restructure with total earnings of over $60 million. While it still pales in comparison to the very top dogs in sports like Lionel Messi and LeBron James, Mahomes will soar up this list when his new restructured agreement kicks in and more sponsorships come his way.

The dude doesn’t seem to be slowing down anytime soon, and he’s one of the more marketable athletes in the whole NFL. Plus, if he keeps getting to Super Bowls and adding more Lombardi Trophies to his name, that will only strengthen his cause.

Patrick Mahomes’ endorsements

In regards to his non-football money-earning operations, Patrick Mahomes is very prevalent across the spectrum for brand endorsements, having secured lucrative contracts with the likes of Adidas, Oakley, State Farm, EA Sports, Hunts, Head and Shoulders, and Proctor & Gamble, as well as local brands and companies like Community America Credit Union and Airshare, a private jet company.

Exclusivity is a very precious quality that only a select few athletes are able to benefit on in their athletic careers, and Patrick Mahomes has reached that point where he comes into that group currently.

For the arrangement that Patrick Mahomes has with Oakley, he is the first NFL player to have signed a deal with Oakley, as he is the face of the brand’s Prizm optics line and the “See it in Prizm” campaign, according to Yahoo News.

In a Bloomberg report that came out shortly after the Chiefs claimed their first Super Bowl triumph since 1970, an advertising executive said that Patrick Mahomes could potentially bring in “as much as $7 million a year in additional endorsement income” owing to the win. According to Forbes, he added an ownership arrangement with BioSteel Sports Nutrition after winning the Super Bowl to top off the 2020 campaign.

Patrick Mahomes’ various sources of income

More recently, Patrick Mahomes launched a campaign for NFL All Day, Dapper’s NFL NFT platform, as the brand ambassador. He also is part of the ownership group for both the men’s and women’s professional soccer teams in Kansas City, as well as MLB’s Royals.

Then in October 2023, Mahomes and colleague Travis Kelce, otherwise known as Mr. Swift, announced that they had signed an agreement to become part of the ownership group for the Alpine F1 Racing Team. Pro golfer Rory McIlroy is also a part of the group.

Patrick Mahomes has already made a huge imprint in the NFL and continues to have a bright future ahead of him, both on the field and in terms of potential earnings. He also has a growing family with his wife Brittany and two little ones at home. We can absolutely say that Mahomes is succeeding at life, especially after winning another MVP, Super Bowl and Super Bowl MVP.

After reading all of this, were you at all surprised by Patrick Mahomes’ net worth in 2024?

FAQ
Here are some frequently asked questions regarding Patrick Mahomes.

What is Patrick Mahomes’ net worth?
Mahomes’ net worth in 2023 is expected to reach $70 million, according to Celebrity Net Worth and other trustworthy publications.

Who was drafted before Patrick Mahomes?

Mahomes was the 10th overall pick in 2017. Of the nine players taken ahead of him, just one was a quarterback. The Bears, who have failed to identify their franchise QB ever since Jim McMahon retired, selected QB Mitchell Trubisky, who is currently a backup for the Pittsburgh Steelers.

How many Super Bowls has Patrick Mahomes gone to?
Mahomes has led the Chiefs to three Super Bowls at the end of the 2019, 2020 and 2022 seasons, winning two of them (’19 and ’22).

What year was Patrick Mahomes drafted?
The Chiefs selected Mahomes 10th overall in the first round of the 2017 NFL Draft.

How long has Patrick Mahomes been playing in the NFL?
Mahomes is currently in the middle of his sixth season in the NFL with the Chiefs off to a 5-1 start. He started only one game in his first season before becoming the full-time starting his second season.

How much is Patrick Mahomes making?
Mahomes’ new contract will guarantee him $210.6 million for the 2023-26 seasons for an average of $52.65 million a season. Forbes believes that Mahomes receives an additional $20 million in endorsement income.

Has Patrick Mahomes won a Super Bowl?
Mahomes led the Chiefs to Super Bowl triumphs following the 2019 and 2022 seasons. He was the MVP in both games.

How much is Patrick Mahomes’ contract worth?
The Chiefs and Mahomes altered his contract in 2023 to guarantee him $210.6 million for 2023-26.

How much money does Patrick Mahomes make a year?
The average annual value for Mahomes’ current contract is $52.65 million. Forbes also believes that he receives $20 million in endorsement money as well.