Hakeem Olajuwon at a Glance
- Categories: Athletes, Athletes > NBA Players
- Net Worth: $300 Million
- Birthdate: Jan 21, 1963 (61 years old)
- Birthplace: Lagos
- Gender: Male
- Profession: Basketball player
- Nationality: United States of America
- Height: 6 ft 9 in (2.08 m)
Hakeem Olajuwon’s Net Worth: A Look at the NBA Legend’s Career and Investments
Hakeem Olajuwon, a name synonymous with dominance in the world of professional basketball, left an indelible mark on the sport. Beyond his on-court achievements, which include multiple NBA championships and individual accolades, Olajuwon has also built a successful career in business. This article delves into Hakeem Olajuwon’s net worth, exploring his journey from Lagos, Nigeria, to NBA stardom and subsequent entrepreneurial ventures. We’ll examine his career earnings, championship wins, real estate investments, and the lasting legacy he has created.
Early Life and Collegiate Career
Hakeem Abdul Olajuwon was born in Lagos, Nigeria, in 1963. His parents, Abike and Salim, were owners of a cement business. Growing up, he initially pursued soccer as a goalkeeper. His introduction to basketball came later, during his time at the Muslim Teachers College, where he participated in a local tournament. This marked the beginning of his transition to basketball, a sport that would soon define his life. In 1980, Olajuwon moved to the United States to play basketball for the University of Houston Cougars. After redshirting his freshman year, he quickly became a key player, earning the nickname “The Dream” due to his graceful and effective dunking ability. During his sophomore and junior years, he led the Cougars to consecutive NCAA championship game appearances, though they were unsuccessful in both. Despite these losses, Olajuwon’s individual talent shone brightly, as he received the 1983 NCAA Tournament Player of the Year award.
NBA Career with the Houston Rockets
The 1984 NBA draft saw Olajuwon selected as the first overall pick by the Houston Rockets. His rookie season was an instant success, significantly improving the team’s performance. He finished as the runner-up for Rookie of the Year, behind Michael Jordan. The following season, Olajuwon helped the Rockets advance to the Western Conference Finals, which they won, followed by a trip to the NBA Finals, where they lost to the Boston Celtics in six games. Olajuwon quickly became a dominant force in the league, and during the 1988-89 season, he led the league in rebounds with 13.5 per game, solidifying his status as a top player. He continued to showcase his skills, leading the league in rebounds and blocks in subsequent seasons, and even recorded a quadruple-double – a rare feat. In the 1992-93 season, he improved his passing abilities, and the Rockets achieved a franchise-best record of 55 wins. Despite the team’s success, Olajuwon finished second to Charles Barkley in the MVP race.
Championship Seasons and Accolades
The 1993-94 and 1994-95 seasons were defining moments in Olajuwon’s career, solidifying his reputation as one of the greatest centers in NBA history. He led the Rockets to back-to-back NBA championships. In 1994, the Rockets defeated the New York Knicks in a thrilling seven-game series, securing Houston’s first professional sports championship in over three decades. Olajuwon’s performance in the Finals, averaging 26.9 points per game, earned him the NBA Finals Most Valuable Player award, making him the first foreign-born player to receive the honor. That year, he also achieved a unique feat, winning the MVP, the Championship title, the Finals MVP, and the Defensive Player of the Year award in a single season. The Rockets continued their dominance in 1995, sweeping the Orlando Magic to win their second consecutive championship. Olajuwon was once again named the Finals MVP, averaging 27.8 points and 10.8 rebounds during the regular season and delivering a remarkable performance in the series-clinching game with 39 points and 17 rebounds.

BOB STRONG/AFP/Getty Images
Olympic Gold and Later Years
During his peak, Olajuwon was selected to the 1996 US Olympic basketball team, known as Dream Team II. Playing alongside several members of the original Dream Team and other NBA stars like Shaquille O’Neal, Olajuwon helped lead the team to a gold medal. His success with the Rockets continued for a while longer, however, the team was eliminated in the second round of the 1996 NBA Playoffs. The following season, the Rockets, with the addition of Charles Barkley, achieved a 57-win season. In the 1998-99 season, Olajuwon’s scoring improved, resulting in his 12th and final All-NBA Team selection.
Toronto Raptors and Retirement
In 2001, Olajuwon was traded to the Toronto Raptors after turning down a $13 million deal with the Rockets. However, he was unable to replicate his past successes, averaging career lows of 7.1 points and six rebounds per game. A back injury prompted his retirement in the fall of 2002 after only one season with the Raptors. He ended his career as the all-time league leader in total blocked shots, with 3,830 blocks, a testament to his defensive prowess and shot-blocking ability.
Real Estate Investments and Entrepreneurial Success
After retiring from the NBA, Olajuwon transitioned to a successful career in real estate, primarily in the Houston area. He invested in a variety of properties, demonstrating a keen understanding of market trends and development opportunities. According to a 2006 New York Times profile, by that time, Olajuwon had already transacted over $100 million worth of real estate purchases. He specializes in acquiring properties poised for development, often near infrastructure projects like stadiums or public transportation. His portfolio includes undeveloped land near major transportation routes, as well as parking garages, apartment complexes, commercial buildings, and single-family homes. Notably, he purchased Houston’s former Federal Reserve Bank building and converted it into a mosque and owns the city’s former World Trade Center building near Minute Maid Park. Olajuwon’s approach to real estate is also unique in that he operates as a cash buyer, adhering to Islamic principles that prohibit borrowing with interest. This strategy has allowed him to minimize financial risk and compete effectively in the market. He explained in the same New York Times profile:
“I have been blessed thus far to be able to work with my own capital, which gives me the ability to decide when I want to sell as opposed to having a bank loan hanging over my head that in some cases, can force you to sell even though you may not be ready to.”
Personal Life and Legacy
In 1996, Olajuwon married Dalia Asafi, and together they have four children: daughters Aisha and Rahmah, and sons Abdullah and Abdul. Additionally, he has a daughter, Abisola, from a previous relationship. Beyond his basketball and business achievements, Olajuwon is also known for his philanthropic efforts and his work in mentoring young players. In 2006, he launched the first of his “Big Man Camps,” where he teaches frontcourt skills to young players, also working with established NBA players to refine their techniques. Olajuwon is fluent in English, Arabic, and French, as well as the Nigerian languages of Ekiti and Yoruba. As a practicing Muslim, he places importance on studying the Qur’an daily. Hakeem Olajuwon’s legacy extends beyond his athletic prowess; he is recognized for his business acumen, his commitment to family, and his dedication to community and faith. His net worth, estimated at $300 million, is a reflection of his multifaceted success, both on and off the court.
Career Earnings
Source / Title | Amount |
---|---|
Toronto Raptors (2003-04) | $6.3 Million |
Toronto Raptors (2002-03) | $5.7 Million |
Toronto Raptors (2001-02) | $5.1 Million |
Houston Rockets (2000-01) | $16.7 Million |
Houston Rockets (1999-00) | $14.3 Million |
Houston Rockets (1998-99) | $12.9 Million |
Houston Rockets (1997-98) | $11.2 Million |
Houston Rockets (1993-94) | $3.2 Million |
Houston Rockets (1992-93) | $3.2 Million |
Houston Rockets (1992-93) | $5.3 Million |
Houston Rockets (1991-92) | $3.2 Million |
Houston Rockets (1991-92) | $3.2 Million |
Houston Rockets (1990-91) | $3.2 Million |
Houston Rockets (1988-89) | $1.7 Million |
Houston Rockets (1987-88) | $1.5 Million |
Houston Rockets (1985-86) | $882.5 Thousand |
Total Earnings | $97.4 Million |