Alex Rodriguez has always been interested in becoming a player in the business world. Now that he’s retired from baseball, the former superstar is able to cash in on his interest.
“I’m very data driven and I like numbers. I always said that in business, numbers don’t lie,” Rodriguez told CNBC on Tuesday. “I started seeing a lot of athletes going bankrupt at a 70 percent rate within a few years of retirement. So I wanted to start my own investing.”
Rodriguez, who won a World Series during his tenure with the New York Yankees, has continued his success off the field with his own businesses.
The baseball legend recounted how he started investing in a small duplex that grew into a large entity called ARod Corp., which manages more than 15,000 apartment units in 12 states.
“In business, we’ve been really fortunate. The market the last five years have been incredible,” Rodriguez said. “We’ve been laser-focused in every sector we participate in. And now we’re in real estate, auto dealership, and in fitness.”
Rodriguez listed big name investors such as Barry Sternlicht, Marc Lasry and Warren Buffett as some of his mentors in the ways of finance and business, but he also acknowledged he needs to put in the work to succeed.
“You know, business is like a sport. You’ve gotta put in your 10,000 hours and it takes time,” Rodriguez said. “And for me, my philosophy is slow and steady will win the race and there’s no reason to be in a rush.”