What is Pat Riley’s net worth?
| Net Worth: | $120 Million |
|---|---|
| Age: | 77 |
| Born: | March 20, 1945 |
| Gender: | Male |
| Height: | 1.93 m (6 ft 4 in) |
| Country of Origin: | United States of America |
| Source of Wealth: | Professional NBA Player |
| Last Updated: | August 2, 2022 |
Introduction
Patrick James Riley is an American former player and coach in the NBA who has worked with numerous teams since the 1960s.
While he started his professional career on the court, he became a head coach after retiring, leading the Lakers, Knicks, and Heat to many victories.
However, he currently serves as the president of the Miami Heat, a position he has held since 1995, and has since stepped away from coaching.
As of January 2023, Pat Riley’s net worth is estimated to be $120 Million.
Pat Riley Facts
- Pat Riley started playing basketball for Linton High School before joining the Kentucky Wildcats college team in 1963.
- In 1967, Riley was drafted by the San Diego Rockets, who he played with until 1970.
- Riley was also drafted as a wide receiver in 1967 by the Dallas Cowboys, despite never having played college football.
- After resigning as the head coach of the New York Knicks, Riley became the president of the Miami Heat in 1995.
- In 2012, Riley received the Chuck Daly Lifetime Achievement Award from the NBA Coaches Association.
Early Life
Patrick James Riley was born March 20, 1945, in Rome, New York, to Mary and Leon Riley.
His father was a minor-league baseball player who played 22 seasons with the Philadelphia Phillies as an outfielder and first baseman.
As a child, Pat played basketball for Linton High School in Schenectady, where he quickly made a name for himself with his talent on the court.
In 1963, Pat began his college basketball career with the Kentucky Wildcats, where he was named the NCAA Regional Player of the Year and the SEC Player of the Year.
During his senior year, Riley was named to the First Team All-SEC, becoming one of the only players in Kentucky basketball history to be appointed to the team twice.
Career
In 1967, Riley was selected by the San Diego Rockets during the NBA draft as their seventh overall pick.
Oddly enough, despite never having played football, he was also drafted as a wide receiver for the Dallas Cowboys, though he declined for obvious reasons.
With the San Diego Rockets, Riley played three seasons before being traded to the Portland Trail Blazers in the 1970 NBA expansion draft.
However, Riley was quickly traded once more, this time to the Los Angeles Lakers, where he would stay for five seasons, earning a spot on the 1972 NBA Championship team.
In 1976, Riley retired from the court but returned to the NBA a year later as a commentator for his former team, the L.A. Lakers.
During this time, he was also hired to be the team’s assistant coach, a position which he would use to usher in the Lakers’ “Showtime” era, introducing the world to players like Magic Johnson and Abdul-Jabbar.
Pat Riley would continue to coach the L.A. Lakers until 1991, when he transferred to the New York Knicks for four seasons.
However, in 1995, he resigned from the Knicks to become both the president and the head coach of the Miami Heat.
Riley proved himself to be one of the greatest NBA coaches, and in 2010, he was responsible for forming the Miami Heat’s “Big Three,” which included LeBron James, Chris Bosh, and Dwayne Wade.
While he has since stepped down from being the head coach, he remains president of the team and has continued to lead them to numerous successful seasons under his guidance.
Pat Riley’s Career Earnings
Pat Riley may no longer be one of the richest NBA players in the world, but he has earned a staggering amount during his career.
Although we don’t have records of many of his past earnings, we do know a bit about how he has continued to maintain his fortune.
- Since 1995, Pat Riley has made an estimated $40 million with the Miami Heat.
- Riley has also made a great deal of money from speaking engagements, charging $50k to speak at one event in 2013.
- Through his enterprise Riles & Co., Riley has trademarked the term “three-peat,” and whenever the term is used commercially, he makes profits from the royalties.
Having played with and worked for some of the richest NBA teams, it is easy to see how Pat Riley was able to gain and maintain his impressive wealth.
Personal Life
Not much is known about Pat Riley’s personal life, and he does his best to maintain a low profile away from the media.
However, we do know that he has been married to his wife Chris since 1970 and that together they have two children, James Partick, and Elisabeth Marie.
While he doesn’t have any social media accounts, his stats and career legacy can be found on the official NBA website, while he also appears on the Basketball Hall of Fame’s official website, where a brief rundown of his accomplishments can also be found.
Awards & Achievements
Thanks to his long career in the NBA, Pat Riley has won numerous awards and honors.
While all of his accolades have been noteworthy and well-deserved, some have undoubtedly been more prestigious than others.
Here are some of Pat Riley’s most important awards and honors:
- Riley was named the SEC Player of the Year in 1966.
- As a player in 1972, Riley became an NBA champion for the first time.
- In 1982, 1985, 1987, and 1988 with the Los Angeles Lakers, and in 2006 with the Miami Heat, Riley was named an NBA champion as head coach.
- Riley was named the NBA Coach of the Year in 1990, 1993, and 1997.
- In 2011, Pat Riley was named the NBA Executive of the Year.
Pat Riley may not be as renowned as Michael Jordan in the mainstream media, but he has created a lasting legacy in the NBA.
How Does Pat Riley Spend His Money?
Pat Riley has more money than many people could spend in a lifetime, and with his wealth, he has enjoyed a remarkably lavish lifestyle.
In 2013, fans got the opportunity not just to see his Malibu Beach house but to rent it at the cost of $18.5k per month.
The home, which Riley bought in 1989 for $1.6 million, sits just down the street from another home he owns, and it offers three bedrooms, floor-to-ceiling windows, and picturesque views of the Pacific.
A year earlier, in 2012, Riley sold his Miami mansion for $16.75 million after having purchased the property in 1996 for only $6.3 million.
Resembling a resort more than a home, this luxurious villa looks like one of the most expensive hotels in the world, and it sits isolated on its own private peninsula.
More recently, Riley sold his Four Seasons Surf Club condo in 2022 for $22.8 million after having bought it in 2018 for $81. million.
Highlights
Pat Riley has enjoyed a remarkably long career filled with numerous successes.
However, some of his greatest milestones stand above the rest for their impact on his fame and fortune.
Here are some of the best highlights of Pat Riley’s career:
- Riley started his NBA career with the San Diego Rockets in 1967 after being picked seventh overall in the draft.
- In 1979, three years after retiring from the court, Riley was hired as the assistant coach for the Los Angeles Lakers.
- Riley became the head coach of the New York Knicks from 1991 until his resignation in 1995.
- After leaving the New York Knicks, Riley became the president and head coach of the Miami Heat.
- Riley stepped away from coaching in 2008 but remains the president of the Miami Heat.
Like many NBA players who became entrepreneurs, Pat Riley has left a lasting impact on the sport, even decades after leaving the court.
Favorite Pat Riley Quotes
Pat Riley was a fantastic player and arguably an even better coach, given his understanding of the game and his commitment to success.
If there is one thing Riley is known for most, it is his unwavering dedication and his positive outlook even when the chips are down.
Here are our favorite quotes from Pat Riley:
- “If you have a positive attitude and constantly strive to give your best effort, eventually you will overcome your immediate problems and find you are ready for greater challenges.” – Pat Riley
- “You have no choices about how you lose, but you do have a choice about how you come back and prepare to win again.” – Pat Riley
- “There’s always the motivation of wanting to win. Everybody has that. But a champion needs, in his attitude, a motivation above and beyond winning.” – Pat Riley
- “There can only be one state of mind as you approach any profound test; total concentration, a spirit of togetherness, and strength.” – Pat Riley
- “Being ready isn’t enough; you have to be prepared for a promotion or any other significant change.” – Pat Riley
3 Amazing Lessons From Pat Riley
There is a lot we can learn from Pat Riley and his long career in the NBA as a player, coach, and president.
Now that you know all about Pat Riley’s net worth, we can take a closer look at what he can teach us about finding our own success.
Here are some of the best success lessons to learn from Pat Riley:
1. Maintain A Positive Attitude
Reaching your goals is only going to be harder if you can’t stay positive throughout the process.
If you can maintain a positive mental attitude, even during difficult situations, you’ll be much more likely to achieve your long-term goals.
2. Be Motivated By More Than Just Success
If you’re only motivated by finding success, you can fail to create goals past just reaching the top.
When this happens, you can find yourself trying to maintain your success without a further purpose to keep striving for, which can hold you back from achieving your fullest potential.
3. Prepare For Anything
You should always have plans for the future, but you should also have plans that ensure you’re ready for almost anything.
Without effective backups, you can easily lose valuable progress when something unforeseen sets you back. Something that can be prevented or mitigated by being more prepared.
Summary
Pat Riley has proven himself to be incredibly skilled both on and off the court, and his immense net worth reflects this.
As the president of the Miami Heat, Riley has continued to grow his wealth while also helping lead his team to numerous victories.
If you want to stay informed about Pat Riley’s career and increasing fortune, make sure to check back often so you won’t miss any updates!
As of January 2023, Pat Riley’s net worth is estimated to be $120 Million.
