Joe Burrow's Net Worth 2023

Joseph Lee Burrow, popularly known as Joe Burrow, is an American football player who plays as the quarterback for the Cincinnati Bengals in the NFL. A winner of the reputed Heisman Trophy, Burrow was the first overall pick of the 2020 NFL draft. He was picked the Cincinnati Bengals and has been an integral part of the franchise since then.

Despite an injury-shortened rookie season, Burrow managed to turn the tide in his second season where he led the Bengals to their first playoff win since 1990. He also led his side to the Super Bowl LVI, where The Bengals fell short to the Los Angeles Rams. Nonetheless, Burrow has been a contributor the side's recent success as he has led the side to 5 postseason wins, which is tied to the number of playoff wins the franchise had before drafting him. Well known for staying calm under pressure, Burrow is lovingly nicknamed 'Joe Cool' by fellow players and sportswriters.

How Much Is Joe Burrow’s Net Worth in 2023?

Joe Burrow has an approximated net worth of $40 million, as of 2023. Burrow agreed to a four-year rookie contract, where he made $36 million. He has also made $23 million as a part of the signing bonus. He was number one overall in the 2020 NFL draft class.

The Cincinnati Bengals broke bank for Joe Burrow when they decided him to offer him a new contract on September 7, 2023. Burrow signed a 5-year contract extension with the Bengals worth $275 million, which made him the highest-paid NFL player on an annual basis. He will receive an average annual salary $55 million from the 2024 season. As for the contract breakdown, $219 million is guaranteed, with a signing bonus of $40 million. In 2023, he will receive a base salary of $1,010,000, a signing bonus of $40,000,000 and a roster bonus of $4,535,018.

Joe Burrow’s Salary

Joe Burrow's average annual salary for the 2023-24 season is $9 million. After signing with the Bengals, Burrow was limited to a small salary, as does every other rookie in the NFL. In 2020, his base pay was $610,000 with a total cap of $6.58 million; in 2021, it was $2.25 million with a total cap of $8.2 million; in 2022, it was $3.9 million with a total top of $9.87 million.

His 5-year, $275 million contract extension made him the highest paid NFL athlete on an annual basis, with an average annual salary of $55 million.

Joe Burrow’s Endorsements

The Bengals quarter back has excellent marketability and has multiple endorsements with giant companies like Nike, Bose, Nerf, and Fanatics.

Bose and Joe Burrow agreed to a contract. He also agreed to a multi-year contract with Fanatics. According to Darren Rovell, the price for Joe Burrow's official signature on a football is $400, while the price for his autograph on a jersey for the LSU Tigers or Cincinnati Bengals is about $600. Burrow also donned a special shirt that was personalized with his 740 area code because of his endorsement deal with Nike. According to TMZ Sports, the clothing behemoth put out a copy of the t-shirt in its stores a month later.

Joe, however, does not want to touch any of his salary earnings and just spends money earned through his endorsements. Burrow told the reporters that “I don’t plan on spending any contract money” “I’m just going to live off the marketing money and let that accrue in my bank account.”

There have been a lot of companies trying to secure a deal with the quarterback, but Joe has done deals for a select few.

Joe Burrow’s Investments

According to CB Insights, Joe has invested in Kodiak. The company creates products based on food & beverages. The Bengals quarterback has also invested in a professional women’s volleyball team, alongside singer Jason Derulo. Burrow’s parents, Jim and Robbin Burrow are also Blue-Chip investors in the Volleyball league federation.

Unlike stars like Tom Brady or Patrick Mahomes who invested in Pickleball, Burrow took a traditional approach when it comes to investing. Joe has allocated his cash in farmland, leasing the land to farmers and getting returns at single-digit-percentage.

Joe Burrow’s Other Sources of Income

Apart from his endorsements and salary, Joe also makes certain amounts of money through appearances, social media posts, licensing, memorabilia and bonuses. Burrow makes an estimate of around $3K USD- $30K USD per post on Instagram.

Joe Burrow’s House

Joe Burrow may have inked a $36 million deal with the Cincinnati Bengals for the 2020 season, but he still resides with his parents in Athens County, Ohio. Although the athlete's father once jokingly referred to him as "a millionaire living in his parents' basement," it seems he is not in any hurry to leave.

The house was originally built in 1997 but was bought by the Burrows in 2005 for $240,000. The value of the property is placed at around $325,000, as of 2022. It is a 2,661 square-foot single-family home with 4 bedrooms and 3 Bathrooms, which is situated on a cul-de-sac in The Plains, Athens Country, Ohio, United States. Just enough space is available on the 0.3-acre lot for Joe and the family to have a backyard picnic or toss the football around.

Joe previously gave his 2.5 million Instagram followers a peek at the property's little garden, which had a spotless lawn and white picket fence.

Burrow also owns his own property, where he spent less than a million on his starter home in June 2020. He bought a 2,900-square-foot place in Columbia-Tusculum, Cincinnati, Ohio-the city’s oldest neighborhood-for $835,000. The House was built in 2014. The two-story residence is about 5 miles northeast of downtown and Paul Brown Stadium.

Joe Burrow’s Cars

Burrow has a custom Lordstown EV Pickup Truck, a Porsche Taycan Supercar, an Acura NSX Supercar, and possibly a golf cart near Cincinnati, Ohio. His first vehicle was a Lordstown truck that was specially manufactured in Lordstown, Ohio and is known as "Endurance". The car's door bears Joe's jersey number "9," the Bengals' colors, and the phrase "Working Joe." 2000/4800 FT-LB of torque and a 7,500-pound towing capacity are features of the Endurance. It can travel 250 miles and takes 10 hours to charge. Joe now uses Porsche Taycan as his go-to, and the luxury car costs $150,000. The Taycan is extremely fast and has a quick burst of acceleration. It has a refined and spacious cabin which can give a true sense of luxury.

Joe Burrow’s Charity Work

Joe Burrow was chosen as the 85th recipient of the Heisman Memorial Trophy on December 14, 2019, which is given annually to the best college football player. During his acceptance speech, he spoke about people he knew who were disadvantaged and underserved rather than just football.

The Joe Burrow Foundation was established by Joe and his parents, along with business and community leaders from Ohio and Louisiana, using that evening as a springboard. As well as offering resources and support to the impoverished and underserved in various ways, the main focus is on aiding children who are suffering from mental illness and those who are experiencing food insecurity. The Joe Burrow Foundation aims to instil in these kids the same zeal, commitment, and inventiveness that Joe has on the football field.

Burrow has his own website running (Joeburrow.org) and has said “Everyone has a responsibility to do good.”

FAQs

Q. Is Joe Burrow in a relationship?

A. He has been in a relationship with Olivia Holzmacher for more than 5 years. The pair met at Ohio State, where Burrow played football for the first three years of his college career.

Q. Why did Burrow change his last name?

A. The spelling of Joe Burrow's last name was changed from “Burrow” to “Burreaux” as a way to pay tribute to Coach Orgeron and his Cajun roots.

Q. Who was Joe Burrow's favorite player?

A. Joe Burrow stated that Mike Vrabel was one of his favorite players growing up

Q. Does Joe Burrow have a Super Bowl?

A. No, Joe Burrow is yet to win a Super Bowl Championship. He was a part of the Super Bowl LVI, where the Los Angeles Rams defeated the Cincinnati Bengals by 23-20. 

Q. What Is Joe Burrow’s Net Worth?

A. Joe Burrow has an estimated net worth of $40 million, as of November 2023. 

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