Patrick Mahomes Net Worth: The $110 Million Quarterback Who Revolutionized the NFL

Patrick Mahomes, one of the brightest stars in the NFL league, makes a fortune both on and off the football field. The American professional football quarterback plays for the Kansas City Chiefs, and in 2020, he signed the biggest deal in NFL history.

As of 2024, Patrick Mahomes’ net worth is estimated at over $110 million and that’s only the beginning. His fortune is set to reach at least a billion dollars by 2031.

Since joining the Kansas City Chiefs as their quarterback in 2018, Mahomes has led his team to four Super Bowl victories and six consecutive AFC Championship Game appearances. His career is filled with accolades with only seven seasons in the NFL, more than most athletes have achieved.

Mahomes has been so successful on the field that people consider him to be “one of the greatest quarterbacks of all time”, often right behind Tom Brady.

In this article, we’ll delve into Patrick Mahomes’ life story, career progression, investments, philanthropy, and wealth.

Patrick Mahomes’ Net Worth Breakdown:

Patrick Mahomes’ net worth has grown tremendously, especially in recent years. According to our calculations, he’s earned around $73 million post-taxation from his NFL contracts to date. If we add his endorsement deal earnings, which were $20 million as of 2023, this puts $36.67 million more on his net worth as of October 2024. Post-taxation, that’s around $23.84 million.

Even though many of the details about his previous endorsement deals, as well as his stake in other teams and businesses, are still largely undisclosed, we’ve managed to find sufficient data to create this breakdown of Mahomes’ wealth:

Patrick Mahomes Net Worth: Early Life and Education

Patrick Lavon Mahomes II was born in Tyler, Texas, on September 17, 1995. He’s the son of Pat Mahomes, a former Major League Baseball pitcher, and Randi Martin. Patrick has a younger brother, social media influencer Jackson Mahomes, as well as a half-brother through his father, Brown football player Graham Walker. His parents divorced in 2006.

Mahomes is an evangelical Christian who found his faith in middle school. He has shared, “Faith is huge for me … Before every game, I walk the field and I do a prayer at the goalpost. I just thank God for those opportunities and I thank God for letting me be on a stage where I can glorify Him. The biggest thing that I pray for is that whatever happens, win or lose success or failure, I’m glorifying Him.”

Patrick Mahomes studied at Whitehouse High School in Whitehouse, Texas, where he played a variety of sports including football, basketball, and baseball. Now that he’s famous, he credits his quarterback skills to pitching and playing basketball in his youth.

Despite playing different sports and being excellent at them, Patrick Mahomes found his true passion in football. When he was a senior in high school, he had an impressive 4,619 passing yards, 948 rushing yards, and 50 passing touchdowns. In 2013-14, he was named MaxPreps Male Athlete of the Year.

Soon after he started appearing on the football field, Patrick attracted the attention of different schools. Rivals.com rated him as a three-star football recruit and the 12th-best dual-threat quarterback in his class. Subsequently, he received scholarship offers from Texas Tech, Houston, and Rice.

Out of the three options, Mahomes committed to Texas Tech University. At the time, he was one of the top prospects for the 2014 Major League Baseball draft, as well, but since he committed to this school, he wasn’t expected to be selected.

In the 2014 MLB draft, the Detroit Tigers selected him for their team. However, he did not sign a contract with them.

Personal Life

In September 2020, Patrick Mahomes proposed to his high school sweetheart Brittany Matthews (now Mahomes) in a suite in Arrowhead Stadium. He had received his Super Bowl LIV championship ring that same day.

Brittany Mahomes briefly played soccer for the Icelandic club UMF Afturelding. She later became a certified personal trainer and is the co-owner of the Kansas City Current, a women’s professional soccer team.

The Mahomes got married in March 2022. They have two children, Sterling Skye and Patrick “Bronze”, and are currently expecting their third child, a girl.

Even though he decided to pursue a football career, Mahomes didn’t stop playing other sports. During his freshman and sophomore years in 2014 and 2015, he played as a relief pitcher for his school’s baseball team.

He plays golf during the offseason and has participated in several celebrity tournaments to date. For instance, he has participated in the American Century Championship since 2020, as well as the 2022 edition of The Match, where he only lost to Aaron Rodgers and Tom Brady.

More recently, in 2023, Mahomes participated in the edition teaming up with Travis Kelce, his Chiefs teammate, against Klay Thompson and Stephen Curry from the Golden State Warriors. The Chiefs duo won the match.

Patrick Mahomes Net Worth: From His Rookie Season to Breaking Records in the NFL

We’ve seen that Patrick Mahomes embarked on his football career in college. Not long after, he started attracting the attention of different teams. Fast forward to today and Mahomes is one of the highest-paid athletes in the world. Let’s see how his career progressed over time.

Mahomes’ Career in College

Mahomes started as a backup in college but stepped up right after Davis Webb’s injury. In his debut game against the Texas Longhorns, he threw two completions for 20 yards. He then became the starter for the final three games, setting a Big 12 freshman record by passing 598 yards and six touchdowns against Baylor.

The following year, the team picked Mahomes as their starting quarterback. He led Texas Tech to a 7-6 season and threw for over 350 yards in ten games. It was at this point in his career that he started focusing more on football and left his baseball career behind.

Right before the end of the 2016 season and his junior year in college, Patrick Mahomes announced that he was leaving baseball altogether to focus on football. He’d had a remarkable season that year, setting NCAA records with 819 total yards of offense. He also tied the record for 734 passing yards in a single game against Oklahoma (an absolutely ridiculous stat) and finished the season leading the country in more than one category – total touchdowns and passing yards.

By the end of his junior year, Mahomes won the Sammy Baugh Trophy as the top college passer in the nation.

Patrick Mahomes Gets Drafted by the Kansas City Chiefs

Based on his college career, Mahomes was projected to be a first-round or second-round pick by most scouts in his junior year. During the throwing drills at the NFL Scouting Combine came, his passes were clocked at 60mph. This tied Bryan Bennet and Logan Thomas for the fastest pass ever recorded. Most analysts agreed that he was an impressive talent but almost no one predicted how good he would prove to be.

At this point, SI.com ranked Mahomes as the second-best quarterback, while EPSN ranked him third. Consequently, 28 NFL team representatives attended his pro day at university. He had 18 official team visits and private workouts, which was more than any other prospect in 2017.

The Kansas City Chiefs stepped up and selected Patrick Mahomes in the first round of the 2017 NFL draft. They traded up in the draft with the Buffalo Bills for the 10th overall selection after they were originally slated to have the 27th. This led to Mahomes being the first quarterback selected by the Chiefs in the first round since they selected Todd Blackedge in the 1983 NFL draft. He signed his rookie deal in July 2017.

Mahomes’ Early Chiefs Career (2017-2019)

In Week 17 of the 2017 season, Patrick Mahomes made his first career start when he led the Chiefs to a 27-24 victory over the Broncos. When the Kansas City Chiefs traded Alex Smith in January of the following year, Mahomes officially became the team’s starting quarterback.

In his debut as a starter in 2018, Mahomes threw for 256 yards and four touchdowns and earned AFC Offensive Player of the Week. The following week, he set NFL records with six touchdown passes against the Steelers.

By the end of September 2018, he was named AFC Offensive Player of the Month.

Mahomes continued to impress throughout the season, including his 478-yard, six-touchdown performance against the Rams. In Week 17, he became the second quarterback in NFL history to throw for 5,000 yards and 50 touchdowns in a single season. He led the Chiefs to a 12-4 record, their third straight division title, and their first home playoff since 1993.

This remarkable season earned him First-Team All-Pro honors, NFL MVP, and a spot in the 2019 Pro Bowl.

In the 2019 season opener, Mahomes threw for 378 yards and three touchdowns despite a painful ankle injury. By the end of September, he was named AFC Offensive Player of the Month.

However, his injuries didn’t stop for the season. He dislocated his kneecap in Week 7, forcing him to take a two-week break from football. His return was even stronger – he threw for 446 yards in a loss to the Titans and ended the regular season with 4,031 passing yards and 26 touchdowns. He helped lead his team to a 12-4 record and their fourth straight division title.

In the playoffs, Mahomes led a comeback when he threw for five touchdowns in a 51-31 win after the 24-0 deficit against the Texans. He then led his team to Super Bowl LIV by rushing for a key 27-yard touchdown in the AFC Championship against the Titans.

In the 2019 season opener, Mahomes threw for 378 yards and three touchdowns despite a painful ankle injury. By the end of September, he was named AFC Offensive Player of the Month.

However, his injuries didn’t stop for the season. He dislocated his kneecap in Week 7, forcing him to take a two-week break from football. His return was even stronger – he threw for 446 yards in a loss to the Titans and ended the regular season with 4,031 passing yards and 26 touchdowns. He helped lead his team to a 12-4 record and their fourth straight division title.

In the playoffs, Mahomes led a comeback when he threw for five touchdowns in a 51-31 win after the 24-0 deficit against the Texans. He then led his team to Super Bowl LIV by rushing for a key 27-yard touchdown in the AFC Championship against the Titans.

In the Super Bowl, Mahomes engineered a 21-0 run in the final minutes and was named Super Bowl MVP, becoming the youngest quarterback to win this award.

Kansas City Chiefs’ Record NFL Contract

In July 2020, the Chiefs decided to make sure that Mahomes would remain with them longer. He signed a ten-year extension with the team worth $447 million – with even more in potential bonuses. This contract extends through the 2031 season. It is currently the fourth-largest contract in the professional sports history in America, surpassing Mike Trout’s $426.5 million contract with the Los Angeles Angels for 12 years.

By signing this life-changing deal, Mahomes became the first professional athlete with a half-billion-dollar contract. Not long after, soccer players Cristiano Ronaldo and Lionel Messi, as well as baseball player Shohei Ohtani surpassed the contract amount.

Thriving Under the New Contract in the 2020 and 2021 Seasons

In Week 2 of the 2020 season, Mahomes led a comeback win against the Chargers, marking his sixth time overcoming a 10+ point deficit. He then became the fastest quarterback to surpass 10,000 career passing yards in a Week 3 victory over the Ravens.

Mahomes continued his dominant season, one of his best to date. He earned multiple AFC Offensive Player of the Week honors and was named AFC Offensive Player of the Month in November 2020. By the end of the season, he had earned another Pro Bowl selection and was named the top-ranked player in the NFL by his peers on the NFL Top 100 Players list.

After surgery for a turf toe injury from the playoffs, Mahomes restructured his contract to help his team save $17 million in salary cap space. He started the 2021 season strong and, despite some midseason struggles (including his career-worst streak of six consecutive games without an interception), the famous football player bounced back. He led the Chiefs to a 12-5 record and their sixth straight AFC West title.

In the playoffs, Mahomes set franchise records with 404 passing yards and five touchdowns in a Wild Card win over the Steelers. What followed was his epic Divisional Round against the Bills, where he threw for 378 yards and four total touchdowns in an overtime victory.

Continued Success in the 2022-2023 Seasons

The 2022 season marked another highly successful year for Patrick Mahomes with several standout performances and records. In Weeks 1 and 4, he earned AFC Offensive Player of the Week honors. By Week 7, he had his seventh career 400-yard game and by Week 8, he broke records for passing yards (21,596) and passing touchdowns (176) in a quarterback’s first 75 starts.

Not long after, Mahomes set a Chiefs franchise record for rushing touchdowns by a quarterback. He also broke the NFL record for most total yards in a season by a quarterback – with 5,608 combined passing and rushing yards. His team advanced to Super Bowl LVII, where Mahomes led them to victory. Lastly, he secured his second Super Bowl MVP and was named NFL MVP for the 2022 season.

The 2023 season started with Mahomes once again restructuring his contract. His new contract meant that he’d earn $210.6 million between 2023 and 2026, which is a record amount in the NFL.

Early in the new season, Mahomes hit significant milestones. He broke the Chiefs’ record for most career rushing yards by a quarterback in Week 4 against the Jets. He also became the fastest player to reach 200 career touchdown passes in just 84 starts.

By Week 5, Mahomes became the youngest QB to defeat all 31 other NFL teams.

Despite his success, Mahomes’ stats took a slight dip compared to previous seasons. He posted career lows in yards per attempt, passing yards per game, and passer ratings. He was also fined $50,000 for criticizing match officials after the team’s loss to the Buffalo Bills.

He returned to his glory days in the playoffs, though. Mahomes led the Chiefs to victories over the Dolphins and the Bills, securing his sixth straight AFC Championship Game appearance. He then won his third Super Bowl MVP by throwing 333 yards and two touchdowns. The Chiefs defeated the 49ers 25-22, marking their second consecutive Super Bowl win.

Most Recent Milestones

Mahomes entered the new season hoping that his team would win three consecutive Super Bowls. While this remains to be seen, Mahomes has had a great season this year.

In the NFL kickoff game against the Baltimore Ravens, Mahomes surpassed Len Dawson to become the Chiefs’ all-time leader in passing yards, during the team’s 27-20 victory.

By Week 3, he added another milestone when he secured his 77th regular season win in a victory over the Atlanta Falcons. This recent achievement placed him ahead of Roger Staubach and Tom Brady for the most wins by a quarterback through their first 100 starts.

Mahomes’ Earnings from the NFL

On July 20, 2017, the Kansas City Chiefs signed Mahomes to a guaranteed four-year contract worth $16.42 million. This contract included a signing bonus of $10.08 million.

On July 6, 2020, Mahomes signed a ten-year extension on his original contract worth $477 million with an additional $26 million in potential bonuses – making a total of $503 million he’ll earn through the 2031 season.

His contract has been restructured twice since, but the restructuring doesn’t mean he earns less from his original contract. Instead, it alters how and when he receives the money. By converting his roster bonus into a signing bonus, the Chiefs spread the payment over the remaining years of his contract.

The second restructuring in 2023 was so that Mahomes is paid $210.6 million of the deal between 2023 and 2026, or about $52.65 million a year.

Based on the latest restructuring, Mahomes is expected to earn about $44.5 million in 2024, $50 million in 2025 and $56.75 million in 2026. In the past years, he’s earned the following amounts:

• 2021: $22.8 million (a salary cap of $7.433 million plus his roster bonus and a portion of the signing bonus from his 2020 contract)
• 2022: $29.45 million
• 2023: $52.65 million after the second restructuring

Lastly, if Mahomes is expected to earn $44.5 million this year and we are currently in October, he’s likely earned around $37 million so far in 2024.

All of this would indicate that, to date, Patrick Mahomes has earned approximately $121.32 million from his NFL contracts alone. His half-a-billion contract will add $361.1 million to his net worth by 2031.

Philanthropy

In April 2019, Mahomes established a nonprofit organization called the 15 and the Mahomies Foundation. Over the years, he’s dedicated a lot of his time and money to charitable causes. Following the murder of George Floyd, he made a video with several teammates and other NFL players encouraging the franchise to condemn police brutality.

In 2022, he and Mathieu started a voter registration project in Kansas City to encourage residents to register and vote in the presidential election. He also joined the Rock the Vote initiative by LeBron James to encourage people to vote.

Most recently, in 2024, Mahomes donated $5 million to Texas Tech for a stadium and football center.

Other Investments and Assets of Patrick Mahomes

Patrick Mahomes is a very wealthy man and his lifestyle fits his fortune and fame. Over the years, he’s invested heavily in assets such as cars and real estate. In addition to his NFL career, he’s made numerous business investments and earned significant sums from different ventures.

Investments in Sports

In August 2020, it was revealed that Mahomes had reached a deal to acquire an ownership stake in the Kansas City Royals baseball team. It hasn’t been disclosed how large of a stake he purchased. However, just a year earlier, the same team was acquired for $1 billion. This would mean that a small 1% ownership stake would have cost Mahomes about $10 million.

Welcome to the #Royals family, @PatrickMahomes!#AlwaysRoyal pic.twitter.com/mRJE0sgzMl

— Kansas City Royals (@Royals) July 28, 2020

In 2021, Mahomes joined Sporting Club, an ownership group behind the Major League Soccer franchise Sporting Kansas City. In addition to this group, he is a member of a second ownership group of an upcoming pickleball team based in Miami, Florida.

In 2023, Mahomes became an investor in the Alpine racing team of Formula One. Lastly, he joined the NWSL’s Kansas City Current ownership group in 2023. His wife has been a member of the group since the team’s establishment.

Other Investments

Outside of sports, Patrick Mahomes has invested in the restaurant industry, among other industries. In 2021, he became an investor in a group that aims to expand the Whataburger fast-food restaurant franchise to Kansas and Missouri.

He has also invested in a wearable tech company called Whoop, which includes other investors like Kevin Durant, Justin Thomas, and Rory McIlroy.

In 2023, Mahomes became part of the NFL All Day video highlights NFT platform, though it is unknown how much he has invested in NFTs himself.

Endorsement Deals

Aside from his NFL salary and bonuses, which make up the bulk of Mahomes’ net worth, the athlete rakes in millions through endorsements such as his commercials with State Farm. Mahomes has earned around $20 million a year from endorsements since 2018.

Following his 2018 MVP season, Mahomes received many endorsement deals. He started with Hunt’s, Oakley, Hy-Vee, Essentia Water, State Farm, Direct TV, Head & Shoulders, and Adidas. He’s since signed many other profitable contracts, including one with Helzberg Diamonds who released a line of necklaces featuring Mahomes’ logo.

In 2020, Mahomes signed an endorsement deal with BioSteel Sports Drink and became an equity partner in the company.

In 2021, he announced his signature shoe as part of the endorsement deal he had with Adidas. The shoe Mahomes 1 Impact FLX was released in August.

A year later, Mahomes appeared in a Coors Light commercial. Since the NFL rules prohibit players in the franchise from endorsing alcohol, he endorsed a Coors flashlight instead of one of their beers.

More recently, in 2023, Mahomes appeared in a commercial for T-Mobile and signed an endorsement deal with Prime, Logan Paul and KSI’s beverage brand.

Real Estate

In 2019, Mahomes spent $1.9 million on a property in Kansas City, which he sold in June 2019 for $2.9 million. In 2020, he spent $3.4 million on a home in Dallas. He has listed this property at $5.5 million in 2023.

In 2021, Patrick spent $400,000 for an undeveloped lot in the Kansas City gated community of Loch Lloyd. He completed the construction of his dream home in 2023, complete with a giant pool, massive mansion, private pond, and half a football field. The property is worth at least $1 million today.

Car Collection

The Mahomes have a luxurious car collection in their garage. It includes:

• 2020 Rolls-Royce Cullinan worth $335,000
• Ferrari 812 Superfast worth $400,000
• Lamborghini Urus worth $250,000
• Genesis G70 worth $50,000

What Can We Learn from Patrick Mahomes’ Story?

Mahomes’ story offers numerous insights and lessons on and off the football field. His background in multiple sports helped him develop skills that translated into his success as a quarterback. This highlights the importance of a well-rounded skill set.

Mahomes’ commitment to improving his game is evident in his transition from backup to star quarterback. His work ethic on and off the field is a reminder that consistent effort and hard work are critical for achieving excellence.

The football star has often credited his family, especially his parents and his wife, for their support throughout his journey. This emphasizes the importance of having a solid support system in achieving personal, as well as professional goals.

Mahomes has made strategic choices, such as committing to Texas Tech over pursuing a baseball career, which ultimately set him on the path to fame and fortune. This highlights the importance of having a clear vision for your future.