Serena Williams Earnestly Credits Ailing Father ‘King’ Richard for His Quirky ‘Paycheck’ Advice on Tennis as a Child

“My dad said athletes lose their money,” Serena Williams got this lesson very early from his father. She later on, not only played and dominated tennis on the court, but she revolutionized it as a whole. According to Forbes, her net worth in 2024 is estimated to be around $300 M and surprisingly she has earned about $95 M from her prize money throughout her illustrious career. She is an avid investor and fourteen of the companies in her portfolio startups have a value of more than $1 B. Financial powerhouse Serena Williams doesn’t shy away from acknowledging the influence behind her fortune.

Serena Williams recently appeared in Episode 10 of ‘The Deal‘ in Bloomberg with Alex Rodriguez and Jason Kelly. During the conversation, Williams spoke about the valuable financial advice she got from her father in her childhood days. “I think it’s really interesting how I learnt early on that your paycheck from tennis should be your smallest earning. That’s what my dad always told me while growing up.” She then talked about how choosing the right and authentic partnerships played a pivotal role in flourishing her businesses.

So, Serena Williams’ earliest business advice came from her dad? Well, she replied, “Most of my business advice came from my dad. He’s incredibly smart. I think he is way before his time.” She went on to shed light on how ‘King‘ Richard’s marketing ideas and deep knowledge about how to get that limelight for their daughters helped them prosper in their respective careers. However, the road wasn’t as smooth as it looks today.

They used to live in a small two-bedded house in Compton. But their parents never let them feel like they were having any financial troubles. In an interview in 2020, Williams spoke about how she started to make her financial decisions from a very early age. “Since I was a teenager, I’ve had to make every financial decision in my life… I’ve had to learn how to make good ones and how to make bad ones, to make better ones,” Serena Williams. But still, there were a few lessons which she wished she learned a little bit earlier.

“I really wish I would have learned that sooner” – Serena Williams’ only regrets

Her father always used to tell her the importance of not losing the money once she got it. He advised her not to buy everything she thinks looks fancy. This is one advice, Serena Williams thinks has stuck with her for her whole life. Reflecting on her financial journey, Serena Williams acknowledged a sense of regret regarding her limited understanding of banking basics, such as the functions of savings accounts, checking accounts, and bank-offered investment options.

“Honestly, I wish I had learned more about banking and how it works…” Serena Williams said. She went on to add, “I didn’t learn that until way later and I really wish I would have learned that sooner so that I could have made my money work for me in different ways sooner and probably better.”

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Did you receive any financial advice from your parent, friend or anyone else at a young age? Share your experiences with us on how important it is to get the right financial advice earlier in life.