Former NBA Player Luol Deng Was Mentored By Current JPMorgan Chase CEO Jamie Dimon And Went On To Establish A $200M Real Estate Portfolio – AfroTech

Luol Deng has an impressive real estate portfolio.

NBA Career

The South Sudan native first generated wealth while playing in the NBA. He was drafted in 2004 by the Phoenix Suns as the seventh overall pick, but was quickly traded to the Chicago Bulls, according to Marca. He went on to play for the Cleveland Cavaliers, Miami Heat, Los Angeles Lakers, and Minnesota Timberwolves across his 15 seasons. He was a two-time NBA All-Star and retired in 2019 with $166.1 million in career earnings, Spotrac reports.

Mentorship From Current JPMorgan Chase CEO Jamie Dimon

The money is still rolling in for Deng as a result of the seeds that were planted ahead of his foray into the league. Forbes reports that while playing at Duke University, Deng befriended the daughter of JPMorgan Chase CEO Jamie Dimon.

That relationship led to mentorship in real estate from Dimon, who at the time was living in Chicago as the CEO of Bank One. Dimon also welcomed Deng to the city after the Chicago Bulls drafted him.

D3N9

Deng went on to establish D3N9, a real estate company, with the mentorship of Dimon, Don Peebles, and former Wall Street banker David Gross in 2014, according to Basketball Network.

“I don’t think anyone has invested in real estate to this scale and level of sophistication while they are still an active player,” Gross said at the time, per Forbes. “Most people wait until they are finished. Luol is going to hit the ground running.”

Real Estate Portfolio

D3N9’s investment footprint began in East Africa and London, and it scaled to the U.S., with spec houses in the Hamptons (NY), multifamily units in Baltimore, as well as hotels, resorts, casinos, and more.

Deng’s real estate portfolio is estimated to be valued at $200 million, per Basketball Network.

“If you know the market and you are using your leverage and doing the right deals, it is really nonstop with the opportunities,” he said, according to Forbes.