Rob Gronkowski's forgotten $69,000 Apple investment that transformed his net worth has hidden strategy
It turns out that Rob Gronkowski’s forgotten $69,000 Apple investment that completely transformed his net worth has a hidden strategy.
One former NFL star struck gold after he forgot about investments he had previously made.
Rob ‘Gronk’ Gronkowski, who has become one of the most recognizable names in the NFL in recent years, having appeared in multi-Super Bowl wins for the New England Patriots, cashed in on millions during his career.
But it turns out there was even more cash building up in the background, which the athlete had no idea about.
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Back in 2014, Gronkowski was encouraged by a contractor working on his home in Foxborough, Massachusetts, to buy up Apple stock, repeatedly saying ‘get Apple, get Apple’ every time they spoke.
The NFL player took the advice on board and ended up investing $69,000 in the tech giant’s stocks.
However, nearly a decade later, Gronkowski rediscovered the investment and was left shocked at what it was now worth on the market.
Simply forgetting about it had allowed the $69,000 to flourish into what is now worth over $600,000, earning Gronkowski an increase of nearly ten times all for the skill of not bothering to manage it.
He had sold a small part of it shortly after the first investment, but held on to the bulk of the stocks and has since reaped the rewards.
While it doesn't exactly make a dent in his estimated net worth of $45 million according to Celebrity Net Worth, it's still a fantastic return on investment and perhaps shows that you don't exactly need to be on top of things to succeed in the stock market.
It is possible that Gronkowski’s decision to put money into Apple mirrors a strategy used by Warren Buffett, who is one of the world’s most successful investors.
In a shareholder meeting in 2023, Buffett said: “Apple has a position with consumers that they’re paying $1,500 or whatever it may be for a phone, and these same people pay $35,000 for a second car.
“And if they had to give up their second car or give up their iPhone, they’d give up their second car!”
In another meeting in 2020, Buffett said: “You shouldn’t buy stocks unless you expect...to hold them for a very extended period and you are prepared financially and psychologically to hold them the same way you would hold a farm, and never look at a quote. You don’t need to pay attention to them.”