Patrick Mahomes' net worth in 2024 is $70 million. Kansas City Chiefs star quarterback Patrick Mahomes won his third Super Bowl, along with a third Super Bowl MVP at the end of the 2023-24 season. In just about half a decade, Mahomes has already established himself as a future Hall of Famer and one of the best quarterbacks of all time.
He is certainly one of best quarterbacks currently in the NFL, and he is only getting started. After six-straight AFC Championship Game appearances, Mahomes' Chiefs are once again in the Super Bowl looking to defend their title. So we're looking at Patrick Mahomes' net worth in 2024.
What is Patrick Mahomes' net worth in 2024?: $70 million (estimated)
Thanks to information publicly available, we know that Patrick Mahomes' net worth in 2024 is roughly $70 million, per Celebrity Net Worth. Still relatively young in his career, this number should grow exponentially year over year as he racks up successes and even more accolades.
Since he took over as the starter, Kansas City has made it to the AFC Championship Game every single year (six times) and has made the Super Bowl four times, with a 3-1 record to his name after a Super Bowl 58 win over the San Francisco 49ers. We're talking dynasty territory for this Chiefs team, and Mahomes furthered his legacy in Super Bowl 58. The Chiefs' offense in 2023 was worse than it ever has been during Mahomes' career, so it was pretty special that he was able to carry the team to postseason success.
Patrick Mahomes' career
Patrick Mahomes' journey to becoming a two-time NFL MVP winner and Super Bowl champion is impressive. Born in Tyler, Texas, in 1995, his dad Patrick Mahomes Sr. played professional baseball for over a decade. The younger Patrick also played baseball growing up and probably could have gone pro (he was even drafted in 2014), but he chose football instead and wound up going to Texas Tech to play quarterback.
Mahomes wasn't a blue-chip recruit when he signed on with the Red Raiders, but he soon blossomed into a college star and played three seasons in Lubbock. In the 2017 NFL Draft, a number of teams passed on him early before the Chiefs came calling at No. 10 after they traded up with the Buffalo Bills. Needless to say, Kansas City is happy with how things worked out given it looks like Mahomes is an all-time great.
Patrick Mahomes' salary
Patrick Mahomes' first contract in the NFL was his rookie deal. That contract was worth $16.42 million over four years. As a first-rounder, the Chiefs also had an option to pick up a fifth year on his contract, which they did.
In 2020, Mahomes signed a 10-year contract extension for a record $450 million. However, with other quarterbacks signing deals for higher annual value, the Chiefs and Mahomes agreed to restructure his deal in September 2023. The new deal was for $210.6 million for 2023-2026 for an annual average value of $52.65 million. However, the new deal has the contract ending after 2026.
Mahomes came in at No. 24 on Forbes' list of highest-paid athletes in 2023 prior to his contract restructure with total earnings of nearly $60 million. While that still pales in comparison to the very top dogs in sports like Lionel Messi and LeBron James, Mahomes will climb up this list as his new restructured extension kicks in and more endorsements come his way.
The man doesn't seem to be slowing down anytime soon, and he's one of the more marketable players in the entire NFL. Plus, if he keeps getting to Super Bowls and adding more Lombardi Trophies to his name, that will only help his cause.
Patrick Mahomes' endorsements
In regards to his nonfootball money-earning operations, Patrick Mahomes is very prevalent across the spectrum for brand endorsements, having secured lucrative contracts with the likes of Adidas, Oakley, State Farm, EA Sports, Hunts, Head and Shoulders, and Proctor & Gamble, as well as local brands and companies like Community America Credit Union and Airshare, a private jet company.
Exclusivity is a very valuable asset that only a select few athletes are able to capitalize on in their athletic careers, and Patrick Mahomes has reached that step where he falls into that category now.
For the deal that Patrick Mahomes has with Oakley, he is the first NFL player to have signed a deal with Oakley, as he is the face of the brand’s Prizm optics line and the “See it in Prizm” campaign, according to Yahoo News.
In a Bloomberg piece that came out shortly after the Chiefs secured their first Super Bowl title since 1970, an advertising executive said that Patrick Mahomes could easily bring in “as much as $7 million a year in additional endorsement income” thanks to the win. According to Forbes, he added an equity deal with BioSteel Sports Nutrition after winning the Super Bowl to cap off that 2020 campaign.
Patrick Mahomes' other sources of income
More recently, Patrick Mahomes led a campaign for NFL All Day, Dapper's NFL NFT platform, as the brand ambassador. He also is part of the ownership group for both the men's and women's professional soccer teams in Kansas City, as well as MLB's Royals.
Then in October 2023, Mahomes and teammate Travis Kelce, otherwise known as Mr. Swift, announced that they had reached an agreement to become part of the ownership group for the Alpine F1 Racing Team. Pro golfer Rory McIlroy is also a part of the group.
Patrick Mahomes has already made a major mark in the NFL and continues to have a bright future ahead of him, both on the field and in terms of future earnings. He also has a growing family with his wife Brittany and two little ones at home. We can truly say that Mahomes is winning at life, especially after reaching another Super Bowl.
After reading all of this, were you at all surprised by Patrick Mahomes' net worth in 2024?
FAQ
Here are some frequently asked questions about Patrick Mahomes.
What is Patrick Mahomes' net worth?
Mahomes' net worth in 2024 is estimated to be $70 million, according to Celebrity Net Worth and other reputable sites.
Who was drafted before Patrick Mahomes?
Mahomes was the 10th overall pick in 2017. Of the nine players selected ahead of him, only one was a quarterback. The Bears, who have struggled to find their franchise QB ever since Jim McMahon retired, selected QB Mitchell Trubisky, who is now a backup for the Pittsburgh Steelers.
How many Super Bowls has Patrick Mahomes been to?
Mahomes has led the Chiefs to four Super Bowls at the end of the 2019, 2020, 2022 and 2023 seasons, winning two of them ('19 and '22) so far.
What year was Patrick Mahomes drafted?
The Chiefs selected Mahomes 10th overall in the first round of the 2017 NFL Draft.
How long has Patrick Mahomes been playing in the NFL?
Mahomes is currently in the middle of his seventh season in the NFL with the Chiefs off to a 5-1 start. He started only one game in his rookie season before becoming the full-time starter his second season.
How much is Patrick Mahomes making?
Mahomes' new contract will guarantee him $210.6 million for the 2023-26 seasons for an average of $52.65 million a season. Forbes estimates that Mahomes receives an additional $20 million in endorsement income.
Has Patrick Mahomes won a Super Bowl?
Mahomes led the Chiefs to Super Bowl victories in the 2019, 2022, and 2023 seasons. He was the MVP in every game.
How much is Patrick Mahomes' contract worth?
The Chiefs and Mahomes restructured his contract in 2023 to guarantee him $210.6 million for 2023-26.
How much money does Patrick Mahomes make a year?
The average annual value for Mahomes' current contract is $52.65 million. Forbes also estimates that he receives $20 million in endorsement income as well.
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