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Sometimes it's better to be lucky than to be good, but nothing beats luck and success. Former NFL tight end Rob Gronkowski, who won multiple Super Bowls during his illustrious career, is certainly considered a great. However, he also had incredible luck on his first stock trade, which brought him almost 1,000% profit on Apple shares that he purchased after a recommendation from his entrepreneur.
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Rob Gronkowski rose to fame as a prominent member of the New England Patriots dynasty led by head coach Bill Belichick and quarterback Tom Brady. Unlike Belichick and Brady, known for their buttoned-down, all-business personalities, Gronkowski was famous for his dynamic and fun-loving nature. So it may come as a surprise to learn that Rob Gronkowski is financially astute, but by all accounts, he's managed his finances very well.
In his 2018 book It's Good to Be Gronk, Rob revealed that he never spent the estimated $70 million he earned playing in the NFL and avoided buying expensive items like cars and jewelry. Gronkowski parlayed his fun-loving personality into a successful career as a pitchman for some of America's most recognized brands, like T-Mobile and Dunkin Donuts. He lived off money from his marketing contracts, not his NFL salary.
Ironically, Gronkowski's first foray into stock trading happened entirely by accident. In an interview with Fortune Magazine, Gronk shared how he made his first stock trade. “My very first stock was Apple stock,” Gronkowski said. “The guy who built my house in Foxborough told me, 'Hey, buy some Apple stock.'” At the time, Gronkowski wasn't familiar with stock trading, but he was intrigued.
“You know, I had never been involved in stocks and I really didn't know how stocks worked,” he continued. Eventually, Gronkowski decided to pull the trigger and purchased $69,000 worth of Apple stock. It was a pretty big investment for a first-time stock buyer, but Gronkowski told Fortune, “I'm going to go big, yeah obviously, it just fits with me being myself.”
Gronkowski purchased the shares in 2014 after calling his financial advisor and asking him to complete the transaction. He may not have intended to buy and hold the shares, but that's exactly what happened. Maybe Gronkowski was so busy having fun that he forgot about his investment. “So all of a sudden I forgot about it,” Gronkowski said.
“Then it’s about two and a half years later and the shares are worth $250,000,” Gronkowski continued. He concluded the story of his investing adventure by telling Fortune: “So, I sold the part of the $69,000 that I used to buy it for and I have now, to this day , over $600,000 in Apple stock, all thanks to the investment I made in 2014 with no idea what I was doing, but just listening to the man who built my house.
It's an incredible story, and luckily for Gronkowski, his contractor tipped him well. Still, you may want to be more careful about where you get your investment advice. Unlike Rob Gronkowski, you probably don't have a $70 million cushion to fall back on. However, Gronkowski's successful foray into stock trading illustrates just how lucrative law is. investment maybe.
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