Larry Fitzgerald Jr. Talks Philanthropy, Investing and Leadership After the NFL

Oct 25, 2024

The renowned NFL wide receiver shares insights on aligning your investments with your values.

Author
Sandra Richards, Head of Global Sports & Entertainment and Segment Sales & Engagement

Key Takeaways

  • Larry Fitzgerald Jr. is known for being a renowned NFL wide receiver, but he’s also a passionate investor, entrepreneur and philanthropist.
  • After transitioning from professional football, he’s focused on opportunities to support innovation, mental and physical health, and financial education.
  • His investments focus on companies that enrich people’s lives and help underserved communities. 

While Larry Fitzgerald Jr. may be best known for his achievements on the football field as a renowned NFL wide receiver for the Arizona Cardinals, he is also a passionate investor, entrepreneur, philanthropist and advocate for financial education. He is most proud of his work off the field, which is rooted in his values, curiosity, commitment to education, philanthropy and investments in companies enriching people’s lives and helping underserved communities.

 

He also stewards the Larry Fitzgerald Foundation, which promotes education and programs in underserved communities, while providing support and resources for those affected by breast cancer. With respect to investing with impact, his investment arm, Larry Fitzgerald Enterprises, aims to help cultivate and accelerate growth and impact for companies focused on sustainability, technology and lifestyle.

 

Fitzgerald Jr. sits down with Sandra Richards, Head of Global Sports & Entertainment and Segment Sales & Engagement, to share some of his insights on how entrepreneurs, investors, executives and philanthropists can pursue and enact innovative ideas that balance both their values and desired results–and how each can be essential to one’s business philosophy and life’s work.  

Q
What did you learn during your transition from playing professional football to becoming a full-time entrepreneur and investor?
A

Early in my NFL career, I attended an NBA game where I met a senior executive from a top firm in New York. We clicked instantly, and from that evening I began building a strong relationship and communicated regularly. Learning of my interests, he asked if I would be interested in interning with his company during my off-season. I was apprehensive initially, but ultimately decided to pursue it and enrolled in the program alongside other interns that year. While I was only 24-years-old at that time, with no finance experience, I knew that preparing for life after football was essential, and the earlier I began, the better positioned I would be for the inevitable transition.

There were times during my internship, especially at the onset, when I felt overwhelmed or uncomfortable, but the experience gave me extreme confidence. I brought a unique set of experiences, insights and perspectives to the firm, value to the program, and to my fellow interns and executive leadership. In retrospect, this became a great lens into how I would approach my role in business–and as I learned and familiarized myself with finance, I began to implement my learnings from this internship to formulate a track for myself in business, which has served me well ever since.

It was apparent that I needed to expand my approach to business, but namely, cultivate relationships with businesspeople. I became more intentional about building relationships with mentors, with those I admired, and most importantly, with people whom I respected and shared common values, goals and ambitions.

To this day, I surround myself with people who make me better, who push me, who are receptive and open-minded, who share my passion and purpose for the things I care about and/or that are shaping our world, both today and in the future. In turn, I seek to mentor and engage people whom I can add value to or provide guidance to. This is critical to my outlook and philosophy now, as an active and committed businessperson, philanthropist and mentor to the next generation of leaders.

Q
How do you identify innovative companies that move the needle?
A

I enjoy learning what makes people tick and asking questions to evaluate founders and companies. With sports, for example, consumers yearn for the best fan experience, whether they watch from the stands, at home, at a restaurant or streaming from their smartphones. That user experience, especially today as we have witnessed, goes beyond the casual viewing experience. Consumers want interaction and data related to the games they are watching that gets integrated into the platforms where they view games—to feel more engaged in every element of the sport and game at-hand.

In this instance, I would delve deeper into who and which companies can address and achieve this most effectively, efficiently and optimally as it relates to a business moving the needle and revolutionizing an experience that is in high demand for a vast and highly engaged, loyal audience right now.

I am currently on the Board of Directors for a company leveraging AI and machine learning to merge sports, video and data into interactive experiences around live events. For a football game, the technology could allow users to unlock unique interactive opportunities, or their fantasy football scores on the screen while they watch a live game. These solutions are not only enhancing the viewing experience for fans and consumers globally, but are also changing the way people consume live content.

Q
What—or who—inspired you to use your platform to make a difference in the world?
A

My mother spent much of her free time helping people affected by HIV/AIDS and breast cancer. She would work to get these individuals the resources and access they needed to help them try to prolong their lives and/or beat their prognoses. My mother was an exemplary figure, for me and others, as she set the standard for me at an early age. She constantly focused on making people’s lives better. She dedicated her life to that purpose. 

My family and our counterparts did not necessarily have much money to donate to these causes when I was growing up, but my mother would always instill in me the value of one’s time. She would say, “You only have 24 hours in a day. How you choose to use these 24 hours is what makes you unique.”

Q
How can others use their public profiles and influence to make an impact?
A

It is important to grasp that when you have the spotlight, you should embrace it and maximize it for the greater good. And during this period, there is no better time to be visible and align with important causes and initiatives–such as that of a charitable foundation that you are passionate about and have an authentic connection to–than when you have a platform that transcends the typical reach and impact. This is when you can leverage your platform to bring the most influence to a worthy cause that may change and/or save lives for the better–and raise the most visibility, donations and support for those organizations.

Whatever the cause may be–and there are many that can help change the world for the better and provide opportunities, access and exposure–your role can be immense and have a lasting impact that can span a lifetime and beyond.

Q
You also serve on corporate boards. How have you used your board presence to make an impact?
A

Joining and serving on corporate boards has been my honor and a transformational experience. There are a myriad of opportunities to support company employees and the communities in which they serve. For example, the Board of Directors for one company I am involved with facilitates various impactful programs, such as those that help employees go back to school for their degrees, or comprehensive funding of youth sports. This is something we are in constant discussion about, and we implement such initiatives as part of our mandate and ethos.

It is a privilege to be involved with those decisions in the boardroom because those conversations and decisions can make a positive impact on millions of people. This is a position that I do not, and will not ever, take for granted. 

Q
How have you been able to invest your time and wealth on a more personal level?
A

As a youth, I struggled academically and had occasional behavioral issues. I was eventually diagnosed with ADHD and one of my academic counselors had me try something unconventional to help me deal with my condition: chess. From there, I became obsessed. Chess is a great game to teach us all how to slow down and think more analytically, methodically and strategically. The game helped me build mental fortitude and taught me how to navigate complex situations that I later applied to my work on the football field, during my career in the NFL for many years, and to the business endeavors with which I am engaged in now, as well as in my day-to-day life.

I still try to play three-to-five games of chess daily and I am also an early investor in an online platform for the game. It is immensely fulfilling to play a small part in helping to grow and expand the game while helping to introduce it to young people who may struggle with the same or similar issues that I did growing up. I believe chess can be a significant mechanism to help young people in the same way that it helped me.

Q
How are you making inclusivity a key factor in your venture investing strategy?
A

One example that I will use is my involvement in everyone’s favorite phenomenon: pickleball!  

I started playing pickleball around 2015, but truly became enthralled by it during the COVID-19 pandemic. What I love about the game is that, to play, you don’t need to have any experience, initial knowledge, athleticism or mobility. Unlike golf or tennis, pickleball does not require many dedicated hours of learning and practice before you can excel. Simply take four people, and they can learn the rules of the game and start playing in less than 10 minutes.

My point is that for one of my several investments, such as pickleball, I sought to invest in something that I love and can relate to, but also in an entity that promotes activity, health and fitness, friendly competition, and inclusivity. Pickleball epitomizes these elements, especially the kind of inclusivity that spans all ages and backgrounds. Plus, at the time of my investment, it was a sport in its infancy that I saw immense potential in for the reasons I outlined.

Today, I am the proud owner of a professional Pickleball team: the AZ Drive.

Witnessing the growth and expansion of the game, nationally and globally, and seeing the increased involvement from people of all ages, races and backgrounds playing a new game they truly enjoy, with a common goal, is an example of something that I am truly passionate about and committed to; and is what I want to be part of–bringing our community together and bringing joy and health to people’s lives for the better. 

Morgan Stanley’s Global Sports and Entertainment Directors can help athletes, artists and entertainers navigate their financial goals with their passions and professional pursuits. Get the conversation started today. 

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