Serena Williams will retire after 27 years of tennis and move into the business sector.
Key details
Tennis star Serena Williams is set to retire after this year’s U.S. open. Following her retirement, Williams hopes to focus her attention on family and running the venture-capital firm that she hopes to turn into a billion-dollar fund.
William’s firm, Serena Ventures, is already seeing some early success. Banks, family, and individual investors helped the firm raise $111 million earlier this year.
William’s isn’t new to investing—she has invested in dozens of companies like Impossible Foods, Daily Harvest, and MasterClass, Bloomberg reports.
As one of the most successful athletes of all time, Williams also has multiple endorsements with major companies including PepsiCo, Gatorade, Delta Air Lines, and JPMorgan Chase.
Williams also has a claim to the Miami Dolphins and her own fashion line—S by Serena.
Why it’s news
As a highly decorated and extremely successful athlete, Williams said she was reluctant to retire from the sport.
Williams has had a 27-year career and won 23 Grand Slam tournaments.
Professional athletes branching out into business isn’t a new idea. Many now work to build businesses while still playing, creating a source of income for when their days on the court or field are done.
Michael Jordan, LeBron James, and Chris Weber are just a few basketball players who made names for themselves on the court and in business. Former Lakers great Magic Johnson has forged a number of highly successful business deals since leaving the game.
Tiger Woods has a net worth of more than $1 billion, though a little more than $120 million has come from winning golf tournaments.
Notable quote
“I like to be good at what I do and I really enjoy being on top of whatever I’m doing. Obviously I have a ton of work to get there, but I do have a lot of drive. I’m driven to continue to work hard and do what it takes to be at the top level,” says Williams
