Julius Erving: The Iconic Life And Legacy Of Dr. J

How Much is Julius Erving Worth?

Let me tell you about Julius Erving, a man who’s not just a basketball legend but also a savvy businessman. Known as "Dr. J," Julius has amassed a net worth of $50 million. Born in Nassau County, New York, on February 22, 1950, Erving burst onto the scene with a style of play that redefined basketball. Over 16 seasons, he lit up the courts for the Virginia Squires, New York Nets, and Philadelphia 76ers, clinching three championships and four MVP awards. With over 30,000 points under his belt, he's cemented his place as one of the greatest scorers in history. But Erving wasn’t just about the numbers; his signature slam dunks brought an artistry to the game that captivated fans worldwide. After retiring, he turned his focus to entrepreneurship, launching a successful career in business and endorsements.

Julius Winfield Erving II, or "Dr. J" as the world knows him, started his journey in basketball during his high school and college years. Born in Nassau County, New York, he earned his famous nickname thanks to his dazzling moves on the court. In 1971, after two stellar seasons at the University of Massachusetts, he joined the American Basketball Association (ABA) with the Virginia Squires. His tenure in the ABA was nothing short of spectacular, and when the league merged with the NBA in 1976, Erving's career reached new heights. For the next 11 years, he became a household name while playing for the Philadelphia 76ers.

From Basketball Stardom to Business Success

Endorsements That Made History

In 1976, Julius became a trailblazer in the world of sports endorsements, signing what was then an unprecedented $20,000-per-year deal with Converse for basketball shoes. Adjusted for inflation, that’s roughly equivalent to $90,000 today. By the mid-1980s, his annual earnings from Converse hit $100,000, or about $250,000 in today’s dollars. This deal would later play a pivotal role in shaping the landscape of sports endorsements. When Michael Jordan entered the NBA in 1984, Converse hesitated to offer him more than what they were paying Dr. J and Larry Bird. This decision ultimately paved the way for Jordan’s iconic partnership with Nike.

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And speaking of Dr. J and Larry Bird, the two legends teamed up in 1983 for a groundbreaking video game, "Dr. J vs Larry Bird." The game's developers, Electronic Arts, offered them a choice: $25,000 in cash or 20,000 shares of stock options at $1 per share. Bird opted for the cash, but Erving took the stock. When EA went public in 1989, those shares skyrocketed in value, making Erving millions in the years that followed.

Post-NBA Ventures

After hanging up his sneakers, Julius didn’t slow down. He invested in a Philadelphia bottling plant, where he became the majority owner for two decades. In 2016, he sold the lifetime rights to the name "Dr. J" to Authentic Brands Group (ABG). This deal brought him both a substantial upfront payment and annual royalties. ABG, a company known for managing the likenesses of icons like Elvis Presley and Marilyn Monroe, now owns the rights to Dr. J's legacy.

Julius Erving’s Journey: From Birth to Basketball Stardom

A Childhood on Long Island

Julius Erving was born on February 22, 1950, in East Meadow, Long Island, New York. Raised in nearby Hempstead and later moving to Roosevelt, New York, he developed a love for basketball early on. His high school years at Roosevelt High School were marked by his extraordinary talent, setting the stage for his future dominance on the court.

The College Years: A Star in the Making

In 1968, Erving enrolled at the University of Massachusetts Amherst, where his basketball career truly took off. Over two varsity seasons, he averaged an astonishing 26.3 points and 20.2 rebounds per game, numbers that remain near-records in NCAA men’s basketball. However, during this time, the NCAA banned dunking, so the public didn’t fully appreciate his signature skills until later.

The Rise of Dr. J in Professional Basketball

Virginia Squires: The Beginnings of a Legend

After leaving UMass, Erving signed a four-year contract with the ABA's Virginia Squires in 1971. As a rookie, he scored 27.3 points per game and propelled the Squires to the Eastern Division Finals. The following season was fraught with controversy as he became embroiled in a contract dispute involving the ABA, Atlanta Hawks, and Milwaukee Bucks. Despite the turmoil, Erving returned to the Squires and shattered records, averaging a career-high 31.9 points per game in the 1972-73 season.

New York Nets: Championship Glory

Financial struggles led the Squires to sell Erving's contract to the New York Nets in 1973. In his debut season, he led the Nets to their first ABA championship, solidifying his status as one of the league’s top players. When the ABA merged with the NBA after the 1975-76 season, Erving continued to shine, earning MVP honors in the playoffs and leading the Nets to another championship.

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Philadelphia 76ers: The Peak of His Career

Erving’s journey continued in 1976 when he was traded to the Philadelphia 76ers. His impact was immediate, guiding the team to a 50-win season and an NBA Finals appearance in his first year. The arrival of Larry Bird in 1979 sparked one of basketball’s greatest rivalries, with numerous Eastern Conference Finals showdowns. Despite the competition, Erving and the Sixers dominated in the 1982-83 season, culminating in an NBA championship. Even in his final years, Erving remained a dominant force, concluding his career in 1986-87.

The Art of Dunking: Julius Erving's Signature Move

Erving is widely regarded as one of the greatest dunkers in basketball history, a title he earned through his electrifying performances. One of his most iconic moments came during Game 6 of the 1977 NBA Finals, when he sprinted the length of the court and threw down a monstrous dunk over Bill Walton. Another unforgettable play occurred in a 1983 regular-season game against the Lakers, when he performed his famous "Rock the Baby" slam dunk over Michael Cooper, a move immortalized by broadcaster Chick Hearn.

Life After Basketball: Julius Erving's Post-Playing Career

Retirement didn’t mean retirement for Julius Erving. He transitioned seamlessly into the world of business, acquiring a Coca-Cola bottling plant in Philadelphia. In 1997, he joined the Orlando Magic's front office, further expanding his influence in sports. He also ventured into motorsports, partnering with former NFL player Joe Washington to form a NASCAR Busch Series team. Alongside these ventures, Erving served on the boards of several prominent companies, including Converse, Saks, and Sports Authority.

Julius Erving on the Big and Small Screen

Erving’s talents extended beyond the court. In 1979, he starred in the sports comedy "The Fish That Saved Pittsburgh," alongside other NBA stars. After his playing days, he made cameo appearances in films like "Philadelphia" (1993) and TV shows such as "Hangin' with Mr. Cooper" and "The Office." In 2022, he appeared in "Hustle," a sports drama starring Adam Sandler, where he played himself.

A Look at Julius Erving’s Personal Life

Erving married Turquoise in 1972, and together they had four children. Tragically, their son Cory drowned in 2000. During their marriage, Erving had an affair with sportswriter Samantha Stevenson, resulting in the birth of his daughter Alexandra in 1980. It wasn’t until 2008 that Erving met Alexandra, who had become a professional tennis player. In 2003, Erving divorced Turquoise after another extramarital affair, this time with Dorys Madden. He married Madden in 2008, and they have four children together.