According to Forbes, the highest paid American athletes in 2024 were LeBron James, Giannis Antetokounmpo, and Stephen Curry. These athletes made much of their money promoting products. Companies in many different industries, from clothing to insurance to airlines, paid these superstars huge amounts. These companies believed it was logical to pay athletes to endorse their products. Nike, for example, believed that paying LeBron James to wear Nike shoes guaranteed high sales. Because of LeBron James’ unparalleled popularity, Nike gave him a lifetime deal, likely to pay out over $1 billion dollars!

Typically, the size of athletes’ endorsement deals parallel their fame. The more famous someone is, the larger the deals they are offered. However, endorsement deals can end abruptly if the person breaks the rules or is involved in a scandal. For example, Tiger Woods’ popularity guaranteed that millions of people would know what phone he used and what car he drove. But when problems in his personal life became public knowledge near the end of 2009, his image suffered. There was a significant contrast between Tiger’s endorsement income in 2009 and his endorsement income in 2010.