At the same time as a teen, tennis star turned enterprise capitalist Serena Williams was already managing her personal cash.
Earlier than she was the first-ever 23-time Grand Slam champion, Williams was a 16-year previous prodigy who turned to her father when she began getting her first actual paychecks from tennis and sponsorship offers, she stated in an interview on Bloomberg’s The Deal podcast with Alex Rodriguez and Jason Kelly. However whereas he was an astute businessman, Williams’ father, Richard Williams, made positive Williams managed her personal funds.
“I bear in mind having to determine that out and having to learn to handle from a really early age and never get loopy with it, and so he empowered us to do this,” Williams stated within the interview.
The elder Williams, portrayed within the 2021 movie “King Richard,” was a serious affect not simply on Williams’ profession, but in addition her second act, she stated. He helped make her and her sister Venus Williams into superstars, however he additionally taught Williams many classes about enterprise.
When Williams was looking for what would change into a reported $13 million sponsorship deal with Puma as a 16-year-old, her father made positive she got here alongside whereas he negotiated with main Puma investor and film producer Arnon Milchan. Though she admittedly fell asleep in the course of the late evening negotiation, Williams stated she integrated the teachings she took from that first sponsorship when she made her personal offers later.
“I’m 16, my dad is negotiating, they’re going forwards and backwards and he desires me there for the entire time to ensure I do know what to do sooner or later,” she stated.
For her total profession, her focus was on her recreation, a lot so she admitted that she usually forgot to choose up the checks she would win from taking part in tournaments. However because of her father, she additionally developed a knack for enterprise and sponsorships, as evidenced later by the half billion {dollars} she would earn all through her greater than two decade-long profession.
“I realized early on that your paycheck from tennis—possibly that’s why I forgot them—needs to be your smallest incomes,” she stated
After retiring in 2022, Williams started to dedicate extra time to Serena Ventures, the enterprise capital fund she began in 2014, and he or she’s been in a position to make use of most of the classes she took from her father and her personal enterprise dealings. And she or he’s channeled the identical competitiveness she used on the sector into her work.
“For me, success proper now’s having nice investments,” she stated.
At Serena Ventures, Williams has aimed to assist stage the enjoying subject for girls and folks of coloration after she realized that solely 2% of enterprise capital {dollars} stream to girls founders and just one% to Black founders. Serena Ventures has invested in additional than 20 corporations and Williams has made dozens of angel investments. The fund’s portfolio of corporations comprises 68% that have been based by girls and folks of coloration, she stated.
“We don’t care what you seem like, however we hear your story in case you’re a lady, we hear your story in case you’re an individual of coloration, and lots of people that seem like me don’t even get their story heard.”
