Uncovering the Secrets Behind Paul Krause’s Impressive Net Worth
Do you ever wonder how some people become so successful and financially stable? How do they manage to become millionaires? Well, one such individual is Paul Krause, who has a mind-boggling net worth of $10 million. As a former NFL player, Krause has achieved a lot, both in his personal and professional life. To uncover the secrets behind Paul Krause’s impressive net worth, let’s take a closer look at various factors that contributed to his financial success.
Early Life and Career
Paul Krause was born on February 19, 1942, in Flint, Michigan. In 1964, he graduated from the University of Iowa with a degree in business. Shortly after, Krause was drafted into the NFL by the Washington Redskins. He went on to have an illustrious career, playing for the Washington Redskins from 1964 to 1967 and for the Minnesota Vikings from 1968 to 1979.
During his career, Krause was a six-time First-Team All-Pro selection, eight-time Pro Bowler, and two-time NFL interceptions leader, amassing an outstanding 81 interceptions. His reputation as one of the best safeties in NFL history earned him a spot in the Pro Football Hall of Fame in 1998.
Investments in Real Estate and Other Businesses
After retiring from football, Krause became a successful businessman and investor. He made smart investments in various industries, such as real estate, banking, and restaurants. His venture into real estate began in the 1970s, where he invested in commercial properties in California and Minnesota. Over the years, he has owned and managed several rental properties, which contributes significantly to his net worth.
Krause also invested in a bank in his hometown of Owatonna, Minnesota, which later became Home Federal Savings Bank. It was a profitable investment that turned into a significant source of income for Krause. Moreover, he co-owned a chain of restaurants with former Vikings teammate Ron Yary, which further increased his wealth.
Minority Owner of Professional Sports Teams
In addition to his real estate and business investments, Krause is also a minority owner of six different professional sports teams, including the Minnesota Timberwolves and the Minnesota Vikings. This investment has been lucrative for Krause, who has earned significant dividends from his equity ownership.
TV Commentator and Endorsement Deal
During his playing days, Krause was always intrigued by the world of broadcasting and sports commentary. After retiring from football, he decided to pursue his passion by becoming a television commentator for Vikings games. Over time, he became a regular analyst for NFL games on nationally broadcasted telecasts. This helped him earn impressive sums of money in the form of broadcasting fees.
Furthermore, Krause was once an endorser for Chevrolet, which helped him earn a considerable amount of money. The endorsement deal added to his net worth and enhanced his financial stability.
Family and Philanthropy
Paul Krause is a man who values his family, relationships, and community. He has started a personal donation program that delivers financial contributions to the University of Iowa and the Owatonna community. Krause also actively participates in various charity events.
He has instilled his values in his children, who are all involved in charitable activities. His son, David Krause, made a $1 million donation to the university his father attended, while his daughter, Lynne Krause-Tomlinson, has created a scholarship program for single mothers.
FAQs
Q1. How did Paul Krause become a millionaire?
A1. Paul Krause became a millionaire through his investments in real estate, banks, restaurants, and sports teams. He also earned money as a TV commentator and through endorsement deals.
Q2. What is Paul Krause’s net worth?
A2. Paul Krause’s net worth is estimated to be $10 million.
Q3. How did Paul Krause invest in real estate?
A3. Paul Krause invested in commercial properties in California and Minnesota. He has also owned and managed several rental properties over the years.
Q4. Which sports teams does Paul Krause own?
A4. Paul Krause is a minority owner of six professional sports teams, including the Minnesota Timberwolves and the Minnesota Vikings.
Q5. What does Paul Krause do for charity?
A5. Paul Krause actively participates in charity events and has started a donation program that delivers financial contributions to the University of Iowa and the Owatonna community.
Q6. What values does Paul Krause instill in his children?
A6. Paul Krause values family, relationships, and community. He instilled these values in his children who engage in charitable activities.
Q7. What is Paul Krause’s educational background?
A7. Paul Krause graduated from the University of Iowa with a degree in business in 1964.
Conclusion
As we can see, Paul Krause’s net worth is not just attributed to his football career but his sharp business acumen and financial investments. Through his investments in real estate, banks, restaurants, and sports teams, Krause has amassed a fortune of $10 million. Moreover, his values of family, relationships, and community have led him to actively participate in charitable activities. We can learn a lot from his success story and strive to achieve financial stability and make valuable contributions to society.