Dwayne Wade is best-known for his legendary playing career as a member of the Heat (as well as brief stints with the Bulls and Cavaliers). But these days, his involvement in the NBA is with an entirely different team.
Since 2021, Wade has been a minority owner of the Jazz. He never had any connection to the franchise during his career on the court, but he’s used his relationship with team owner and businessman Ryan Smith to embark on a new journey as an executive in Utah.
With the 2023 NBA All-Star weekend set to kick off this Friday from Salt Lake City, Wade will no doubt be at the center of the festivities. Here’s a full breakdown of his role with the Jazz as well as his net worth and business pursuits off the court.
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Does Dwyane Wade own the Jazz?
Wade holds a minority stake in the team, but he is not the main owner. That would be his friend Ryan Smith, a billionaire businessman who made his fortune by co-founding the experience management company Qualtrics.
The two reportedly met on the golf course shortly after Wade called it quits on his playing career in 2019. Smith purchased a majority stake in the Jazz in 2020 from the previous owner Gail Miller. Wade joined the ownership group in 2021. The group also includes the Miller family, Accel partner Ryan Sweeney and Atlassian co-founder Mike Cannon-Brookes.
“Partnering with Ryan and the Utah Jazz is the perfect fit as we share the same vision and values,” Wade said in a statement at the time. “Not only is this group focused on building a championship franchise, they are also committed to using their platform to do good and actively create a more inclusive, equitable world. We share a lot of the same goals and are trying to go the same places in life.”
warm welcome @vivintarena ❤️ pic.twitter.com/fZC8VNeykj
— Utah Jazz (@utahjazz) April 16, 2021
According to Heat owner Mickey Arison, Wade was in talks to take a similar role with Miami but ultimately the two sides couldn’t come to an agreement.
“We had discussed having him join our ownership group after his retirement but he was not prepared to commit at the time,” Arison said. “Of course I am disappointed that he didn’t reconsider.”
It’s unclear exactly how big Wade’s stake in the Jazz is. However, per NBA rules, ownership stakes can be no less than one percent of the team, so we know he owns at least that much.
Wade and Smith will serve as honorary captains for the 2023 All-Star Celebrity Game, which will take place at the Jon M. Huntsman Center in Salt Lake City this Friday, Feb. 17 at 7 p.m. ET.
✨ A little friendly competition never hurt anyone ✨
Introducing your *stylish* captains for the 2023 Ruffles NBA All-Star Celebrity Game. @ryanqualtrics | @dwyanewade pic.twitter.com/Dd7NkJ6wfz
— Utah Jazz (@utahjazz) February 8, 2023
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Dwyane Wade net worth
Wade’s net worth is rumored to be somewhere around $170 million, per Celebrity Net Worth.
In addition to his career as a player, he’s found success in broadcasting as a member of NBA on TNT’s coverage team and as the host of The Cube on TBS. He has also signed several lucrative endorsement deals with brands such as Gatorade, Lincoln, Staples and T-Mobile. Most recently, he’s launched his own wine company; Wade Cellars.
We have zero chill about our boss being on the cover of @chilledmagazine! Read more about @DwyaneWade‘s appetite for greatness and how @DWadeCellars is making wine inclusive and accessible to all people below.https://t.co/KYLXvn9Pni pic.twitter.com/pst5WJCeEo
— Wade Cellars (@DWadeCellars) October 3, 2022