Julius Erving Net Worth: The Legacy Of "Dr. J"

Julius Erving, widely known as “Dr. J,” is a retired American basketball legend and current entrepreneur with a net worth of $50 million. Erving revolutionized the game of basketball with his high-flying, acrobatic style, particularly his signature slam dunks. Throughout his illustrious 16-season career, Erving played for the Virginia Squires, New York Nets, and Philadelphia 76ers, winning three championships, four MVP awards, and scoring an astonishing 30,026 points, making him one of the all-time greats. Beyond basketball, Erving has built a successful career in business and endorsements.

Julius Erving Net Worth	$50 Million
Date of Birth	February 22, 1950
Place of Birth	East Meadow, Long Island, New York
Nationality	American
Profession	American Basketball Player, Entrepreneur

Table of Contents

Early Life

Julius Winfield Erving II was born on February 22, 1950, in East Meadow, Long Island, New York. Raised in nearby Hempstead and later Roosevelt, New York, Erving developed a passion for basketball at an early age. He attended Roosevelt High School, where his talent on the court earned him the nickname “The Doctor,” which later evolved into the iconic “Dr. J.”

In 1968, Erving enrolled at the University of Massachusetts Amherst, where he played two varsity seasons of college basketball. Averaging 26.3 points and 20.2 rebounds per game, Erving’s performances were among the best in NCAA men’s basketball history. However, due to an NCAA rule banning dunking, Erving’s legendary dunking skills remained hidden from the public during his college years.

Rise to Stardom in the ABA and NBA

After his junior year at UMass, Erving left college to join the American Basketball Association (ABA), signing with the Virginia Squires in 1971. He quickly became known for his electrifying dunking abilities, scoring 27.3 points per game in his rookie season and leading the Squires to the Eastern Division Finals. In the 1972-73 season, Erving posted a career-best 31.9 points per game despite a contract dispute that saw him briefly sign with the NBA’s Atlanta Hawks before returning to the Squires.

In 1973, the financially struggling Squires sold Erving’s contract to the New York Nets, where he became the face of the ABA. He led the Nets to their first ABA championship and earned MVP honors. When the ABA merged with the NBA in 1976, Erving continued to dominate, leading the Nets to another championship before being traded to the Philadelphia 76ers.

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With the 76ers, Erving became a superstar, leading the team to an NBA Finals appearance in his first season and eventually winning the NBA championship in the 1982-83 season. His rivalry with Larry Bird of the Boston Celtics became one of the most famous in sports history, and Erving continued to perform at an elite level until his retirement after the 1986-87 season.

Julius Erving Endorsements

Julius Erving’s impact extended beyond the basketball court. In 1976, he signed what is believed to be the first basketball shoe endorsement contract, earning $20,000 annually from Converse, equivalent to $90,000 today. By the mid-1980s, Erving’s endorsement earnings had risen to $100,000 per year, or $250,000 in today’s dollars. His endorsement deals were groundbreaking and set the stage for future NBA stars like Michael Jordan.

In 1983, Erving and Larry Bird licensed their names to Electronic Arts for the video game “Dr. J vs. Larry Bird.” While Bird opted for a cash payment, Erving chose stock options, which turned out to be a lucrative decision as EA went public in 1989, and his shares became worth millions.

Erving also made smart investments in business, including becoming the majority owner of a Philadelphia bottling plant, a venture he successfully managed for 20 years. In 2016, he sold the lifetime rights to his “Dr. J” name to Authentic Brands Group, receiving a buyout and annual royalties.

Julius Erving Dunking Skills

Julius Erving is widely regarded as one of the greatest dunkers in basketball history. His powerful and graceful slam dunks brought the move to mainstream attention and became a hallmark of his playing style. One of his most memorable dunks occurred during the 1977 NBA Finals when he soared past Bill Walton of the Portland Trail Blazers for a remarkable dunk. Another iconic moment came in 1983 when he executed the “Rock the Baby” dunk over Michael Cooper of the Los Angeles Lakers.

Erving’s influence on the game of basketball is immeasurable. He paved the way for future generations of players with his style, athleticism, and creativity on the court.

Post-Playing Career

After retiring from basketball, Julius Erving transitioned into a successful business career. He became a Coca-Cola plant owner in Philadelphia and later joined the Orlando Magic’s front office in 1997. In 1998, he partnered with former NFL player Joe Washington to field a NASCAR Busch Series team. Erving has also served on the board of directors for companies like Converse, Saks, and Sports Authority.

Erving’s life has also been the subject of film and television. He starred in the 1979 film “The Fish That Saved Pittsburgh” and made cameos in “Philadelphia,” “Hangin’ with Mr. Cooper,” and “The Office.” In 2022, he appeared as himself in the sports drama “Hustle,” starring Adam Sandler.

Personal Life

In 1972, Erving married his wife, Turquoise, and they had four children together. Tragically, their son Cory drowned in 2000. During his marriage, Erving had an affair with sportswriter Samantha Stevenson, resulting in a daughter, Alexandra, who later became a professional tennis player. Erving and Turquoise divorced in 2003 amid another extramarital affair with Dorys Madden, whom he married in 2008. The couple has four children together.