During Ben Johns’ first year as a professional pickleball player, he could barely support himself financially.
Now he’s making $2.5 million in pickleball salary alone this year, he told CNBC Make It — and even more in terms of endorsement deals and endorsement deals.
Johns, 25, is currently the Professional Pickleball Association Tour’s No. 1 player in men’s doubles and the top-ranked men’s player in mixed doubles. He has held this ranking for most of the last three years, winning more than 120 PPA titles and 21 triple crowns – first place in singles, doubles and mixed at the same event – more than any other male player in history pickleball.
During these three years, its earnings increased significantly, becoming the fastest growing sport in the United States. attracted significant private equity investment, wealthy team owners, bigger sponsors and media deals that have pumped capital into the game. In 2021, Johns earned $250,000, he told CNBC at the time — which would mean his salary has increased tenfold since then.
In 2018, he only made about $50,000 from pickleball, he adds. This income came almost exclusively from winnings at national tournaments, rather than from an annual salary.
“We haven’t reached the peak,” Johns says, adding, “I think there’s still an upward trend.”
The rise of professional pickleball
In February, two of the world’s largest professional pickleball leagues – the PPA Tour and Major League Pickleball – merged into one organization under a holding company called the Unified Pickleball Association.
The merger was backed by a $75 million investment from private equity firm SC Holdings and a series of pickleball team owners, according to the deal announcement. Annual player payouts would increase by nearly 250% this year compared to 2023, he notes.
In April, the UPA announced it would hold future events in India, the world’s most populous country – a marker of planned international expansion and global ambition. With more exposure, player payments could be funded more through sponsorships and media deals.
Johns, who started playing pickleball at age 17, has a lifetime sponsorship deal with Joola Pickleball and other deals with Jigsaw Health, Pickleball Galaxy and Life Time fitness. It is unclear how much money he makes from these arrangements.
How Johns uses his money
Johns says he is an avid investor – spreading some of his money into the stock market, early-stage investments and cryptocurrency.
“I love venture capital and investing and everything about financial management,” he says, adding, “So basically I talk to as many people in the space as possible and I ‘Get tips from there.’
His portfolio, which includes a mix of stocks and stakes in private companies, currently includes both pickleball-related businesses and an artificial intelligence company, he says. His interest in cryptocurrencies goes back at least three years: he chose to receive part of his prize in Ethereum in 2021.
Pickleball has given Johns the opportunity to play with and against various celebrities and CEOs, he says. Three big names remain on his “dream” list: Tesla CEO Elon Musk, tennis star Novak Djokovic and comedian Kevin Hart.
Johns currently drives a Tesla with a bright orange body and says playing with Musk would be his ultimate dream.
“I don’t really have any idols or anything, but he’s the only person I’m a big fan of,” Johns says.
Want to earn extra money outside of your day job? Sign up for CNBC’s new online course How to Earn Passive Income Online to learn more about common passive income streams, tips for getting started, and real-life success stories. CNBC Make It readers can use special discount code CNBC40 to get 40% off through 8/15/24.
More, sign up for the CNBC Make It newsletter for tips and tricks for success at work, with money and in life.
cnbc
