John Elway Net Worth: What are His Bad Investments?
John Albert Elway Jr. is an American professional football executive and former quarterback who currently serves as the president of football operations for the National Football League’s Denver Broncos (NFL).
John Elway was a quarterback in the National Football League who spent his entire 16-year career with the Denver Broncos. Elway retired in early 1999 with the most wins by a starting quarterback and was statistically the second most prolific passer in NFL history. He is one of just two players in Super Bowl history to score a rushing touchdown in four different games.
In 2004, John Elway was inducted into the Pro Football Hall of Fame. Elway set a then-record five Super Bowl starts, which was surpassed in 2015 by Tom Brady of the New England Patriots, who kicked off Super Bowl XLIX. He also won three Super Bowls as a player and one as a member of the Denver Broncos front office.
Elway and his twin sister Jana were born on June 28, 1960, in Port Angeles, Washington to Janet (née Jordan) and Jack Elway, who was the head coach at the time. Lee Ann, a year older than the twins, was part of a family of five. They relocated to southern Washington the following year when Jack was the junior college head football coach at Grays Harbor Community College in Aberdeen for five seasons. Elway grew up largely in Missoula, Montana, and Pullman, Washington, where his father was an assistant coach at Montana and Washington State.
Jack joined the staff of Palouse neighbor Idaho in February 1976, but a month later became the head coach at Cal State-Northridge, a Division II college in Southern California. After John’s freshman year at Pullman High School, the family relocated to the San Fernando Valley, where he finished his football career at Granada Hills High School in Granada Hills, under head coaches Jack Neumeier and Tom Richards. Despite missing five games as a senior due to a knee injury, he finished his high school career with 5,711 throwing yards and 49 passing touchdowns and was chosen to the PARADE All-America High School Football Team, among future NFL stars Dan Marino and Eric Dickerson.
What is John Elway’s Net Worth and Salary?
According to Celebrity Net Worth, John Elway has a net worth of $145 million as a retired American football player. He is presently the Denver Broncos general manager and president of football operations. Elway was an exceptionally successful quarterback throughout his career, setting numerous records until retiring in 1999.
John earned a total of $47 million in compensation during his NFL career. During his playing career, he earned tens of millions of dollars in additional money via endorsements. Outside of professional sports, he has made and lost millions of dollars in business investments. These transactions are discussed in further depth later in this essay.
In 1984, Elway married Janet Buchan, who attended Stanford University and was a member of the swimming team. They divorced in 2003 after splitting up in 2002. Jessica, Jordan, Jack, and Juliana are their four children.
Jana Elway, Elway’s twin sister, died of lung cancer in the summer of 2002, at the age of 42. A year before, John’s father, Jack, died after an apparent heart attack.
In 2005, Elway met former Oakland Raiders cheerleader Paige Green at a celebrity golf tournament in Los Angeles hosted by former Raiders running back Marcus Allen. They were engaged in September 2008 in Italy and married in August 2009.
Under the brand name John Elway Autos, John Elway founded five car dealerships. The businesses in Denver were sold to AutoNation in 1997 for $82.5 million. The agreement also allowed AutoNation to utilize Elway’s name in marketing until 2006. Elway was able to re-enter the auto dealership market under his own name after the contract expired in 2006.
In the years afterward, John has opened two Toyota Scion dealerships in California, one Chevrolet dealership in Colorado, one Chrysler Jeep dealership in Colorado, and one Cadillac franchise under the Sonic Automotive brand.
Other Bad Investments
Over the years, John Elway has made a number of disastrous investments. One of the most significant was his choice to invest $15 million in a Ponzi scheme (the same amount he could have put in a 10% ownership in the Broncos). He ended up losing $7 million before being able to recover $6 million.
John made a large investment in a new company called Laundromax in 1998, but it failed to take off. He also paid $500k for over 130,000 shares of Que Pasa, a Latin-language media company. By 2000, share prices had dropped from $27 to $1, resulting in a massive loss for Elway. Elway invested millions of dollars in a website named MVP.com in 1999, but it was swiftly shut down. He was also a co-owner of the Colorado Crush, a football team that failed after the Arena Football League folded.