Patrick Mahomes continues to dominate the NFL, both on and off the field. Learn about his 2024 net worth, massive contracts, and financial growth with an in-depth analysis from NFL Player Fortune.
Patrick Mahomes Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Patrick Lavon Mahomes II |
| Popular Name | Patrick Mahomes |
| Gender | Male |
| Birth Date | September 17, 1995 |
| Age | 29 |
| Parents | Pat Mahomes, Randi Martin |
| Siblings | Jackson Mahomes, Mia Randall |
| Birthplace | Tyler, Texas |
| Nationality | American |
| Marital Status | Married |
| Wife/Spouse | Brittany Matthews |
| Children | 2 |
| Net Worth | $90 million |
| Height | 6’2″ (1.88 m) |
| Weight | 225 lbs (102 kg) |
| Number (No) | 15 |
| High School | Whitehouse High School |
| College | Texas Tech |
| NFL Draft | 2017, Round 1, #10 overall (Chiefs) |
| Career History |  Kansas City Chiefs (2017–present) Roster status: Active |
| Career Highlights and Awards | 3× Super Bowl champion (LIV, LVII, LVIII) 3× Super Bowl MVP (LIV, LVII, LVIII) 2× NFL Most Valuable Player (2018, 2022) NFL Offensive Player of the Year (2018) 2× First-team All-Pro (2018, 2022) Second-team All-Pro (2020) 6× Pro Bowl (2018–2023) 2× NFL passing touchdowns leader (2018, 2022) NFL passing yards leader (2022) Sports Illustrated Sportsperson of the Year (2020) Bert Bell Award (2018) Sammy Baugh Trophy (2016) Second-team All-Big 12 (2016) NFL records Career playoff passer rating (minimum 150 attempts): 105.8 Career passing yards per game (minimum 1,500 attempts): 296.1 Passing touchdowns in a single postseason: 11 (2021) (tied) |
| Career NFL Statistics | Passing attempts: 3,590 Passing completions: 2,386 Completion percentage: 66.5% TD–INT: 219–63 Passing yards: 28,424 Passer rating: 103.5 |
What is the Net Worth of Patrick Mahomes in 2024?
As of 2024, Mahomes is estimated to have a net worth of $90 million. His wealth stems from salary, endorsement deals, and investments.
He holds a prestigious financial position compared to other athletes and business figures, but how does he compare to others?
- Carson Palmer
- Alex Smith
- Philip Rivers
- Tom Condon
As the Richest NFL Player, he stands tall among these names, consistently growing his net worth through wise business decisions and strategic career moves.
What is the Salary/Income of Patrick Mahomes in 2024?
Patrick Mahomes’s earnings in 2024 are heavily influenced by his long-term contract with the Kansas City Chiefs, which he signed in 2020.
This historic 10-year contract is valued at $450 million, with his salary for 2024 alone reaching a staggering $45.75 million. This contract includes a base salary of $9.85 million, a $7.9 million roster bonus, and a $1 million workout bonus.
The guaranteed amount makes his income stand out in the NFL landscape. Out of the $450 million contract, $63 million is fully guaranteed, ensuring he continues earning top-tier wages even with injuries or setbacks.
The contract also includes various performance-based bonuses, making it one of the most lucrative deals in sports history.
Unlike many contracts, which taper off in the later years, his deal grows more valuable with time.
In 2025, for example, his salary escalates to $16.65 million with a cap hit of $66.26 million, and by 2026, he will earn $45.35 million in base salary alone.
He also benefits significantly from endorsement deals. With partnerships like Adidas, State Farm, and Oakley, he has secured a steady stream of additional income. Endorsements are projected to bring in an extra $10 million annually, contributing heavily to his wealth.
Beyond the NFL, he has diversified into ownership stakes. In 2020, he became a minority owner of the Kansas City Royals, further increasing his investment portfolio.
This move into sports ownership is a strategic way to ensure long-term wealth even after his playing days are over.
It’s clear that as of 2024, he remains a dominant financial figure in the world of sports and continues to build an empire both on and off the field.
Overview of Patrick Mahomes
Early Life
Patrick Lavon Mahomes II was born on September 17, 1995, in Tyler, Texas, to Pat Mahomes, a former Major League Baseball pitcher, and Randi Martin.
From a young age, Mahomes showcased his athletic prowess in multiple sports, particularly excelling in football, baseball, and basketball.
Remarkable achievements marked his high school career at Whitehouse High School in Texas. In football, as a senior, Mahomes recorded an impressive 4,619 passing yards and 50 touchdowns.
His baseball achievements were no less remarkable, including a no-hitter with 16 strikeouts in a single game. His upbringing in a sports-oriented family significantly shaped his future, including his decision to focus on football over baseball, even after being drafted by the Detroit Tigers in the 37th round of the 2014 MLB Draft.
College Career
Mahomes enrolled at Texas Tech University, continuing his dual-sport involvement before committing fully to football.
His college football career was a record-setting journey that caught the attention of NFL scouts. During his junior year, he led all NCAA Division I FBS players in multiple categories, including passing yards (5,052) and total touchdowns (53).
He set NCAA records for single-game passing yards (734) and total offense (819) against Oklahoma. This performance earned him the Sammy Baugh Trophy, awarded to the nation’s top passer, and solidified his place as one of the top quarterback prospects in the country.
His decision to forgo his senior year and enter the 2017 NFL Draft set the stage for his professional career.
NFL Career
Mahomes’ entrance into the NFL was nothing short of groundbreaking. Drafted 10th overall by the Kansas City Chiefs in 2017, the Chiefs traded up to secure him, a decision that would pay massive dividends.
After spending his rookie year as the backup to Alex Smith, Mahomes took over as the starting quarterback in 2018, quickly setting numerous NFL records.
His meteoric rise was punctuated by 50 touchdown passes and 5,097 passing yards in his first season as a starter, making him the second quarterback in history to throw for 5,000 yards in college and the NFL.
His performance earned him the NFL Offensive Player of the Year, NFL MVP, and First Team All-Pro honors in his first season as a starter.
Mahomes’ leadership on the field led the Chiefs to victory in Super Bowl LIV in 2019, defeating the San Francisco 49ers.
Mahomes was named Super Bowl MVP, becoming the youngest and second African-American quarterback to receive the honor.
His second Super Bowl win came in 2023 when he led the Chiefs to victory against the Philadelphia Eagles in Super Bowl LVII, earning his second Super Bowl MVP award.
Career and Earnings Overview of Patrick Mahomes
Patrick Mahomes has quickly become one of the world’s most successful and highest-paid athletes. His journey from a college quarterback at Texas Tech to a two-time Super Bowl-winning quarterback has been remarkable.
His significant on-field accomplishments and endorsement deals have made him a household name.
Career Earnings
His career earnings are a testament to his value on and off the field. When he was drafted in 2017, Mahomes’ first contract was a four-year deal worth $16.2 million, with a $10 million signing bonus.
This was fully guaranteed and set the foundation for what would come next.
The biggest milestone in Mahomes’ career earnings came in 2020 when he signed a record-breaking 10-year extension worth $450 million. Due to performance incentives, this deal could reach $503 million.
This contract includes $140 million in guarantees against injury and other “guaranteed mechanisms” totaling $477 million. His contract secured his status as the first half-billion-dollar athlete in sports history.
Notable career earnings:
- 2017-2020 rookie deal: $16.2 million
- 2020-2031 contract extension: $450 million
Earnings By Team
Since entering the NFL, Mahomes has played exclusively for the Kansas City Chiefs. His financial success with the team includes earning $136,152,962 over seven seasons.
His average per year (APY) earnings are approximately $19,450,423. Should he fulfill his entire contract, his total potential earnings could reach an impressive $497,602,962.
Mahomes’ contributions to the Chiefs’ cap stand at $96,906,643, with no dead money paid out.
This financial structure emphasizes his immense value to the franchise, as he has not incurred any dead money on the team’s payroll, meaning the Chiefs have maximized the use of their cap space.
Contract
Mahomes’ current contract with the Chiefs is one of the most lucrative deals in NFL history.
His 10-year extension in 2020 is valued at $450 million over its duration, with an average annual payout of $45 million. This deal includes $63,081,905 in fully guaranteed money.
His salary structure reflects the Chiefs’ attempt to balance maintaining a championship-caliber team while paying their star quarterback handsomely.
For example, in 2024, Mahomes will earn $9.85 million in base salary, but with bonuses and prorations, his cap hit will be around $37,008,269. His salary escalates to $45.35 million in base salary by 2026, with a cap hit of $68,664,888.
His 2023 cap number is $37,133,824, and his largest single-year cash payout was $56,850,000 in the same year.
This shows a trend of managing cap flexibility while ensuring Mahomes remains compensated.
Key contact details:
- Total value: $450 million
- Fully guaranteed: $63 million
- Cap hit (2026): $68.66 million (most significant in the contract)
- Total potential earnings: $497 million
Dead Money
One of the striking aspects of Mahomes’ contract is its structure, ensuring flexibility for the Chiefs while avoiding massive dead money impacts.
For example, in 2026, his potential dead money is $29,229,776, while his cap savings would be $39,435,112.
This structure allows the Chiefs to maneuver through Mahomes’ contract without incurring significant penalties if they were to move on from him, which remains unlikely given his success and importance to the franchise.
His dead money decreases each year, making it a more manageable situation for the team.
The dead money on his contract falls to zero in 2029, which coincides with the end of his current deal in 2031.
Style of Play
Mahomes is widely regarded as one of the most dynamic and versatile quarterbacks in the history of the NFL.
Known for his incredible arm strength, improvisational skills, and ability to make difficult throws from unorthodox positions, Mahomes has redefined the quarterback position.
His background in baseball has contributed to his exceptional ability to throw on the run and make off-platform throws that confound defenders and impress analysts alike. His ability to extend plays with his legs and his deep understanding of defensive schemes have made him a nightmare for opposing defenses.
His leadership and clutch performances have earned him accolades as one of the greatest quarterbacks of his generation.
Personal Life
Mahomes’ personal life is as dynamic as his professional career. He married his high school sweetheart, Brittany Matthews, in 2022, and the couple has two children together.
Mahomes has often spoken about his family’s influence, particularly his former professional athlete father, in shaping his discipline and work ethic.
His philanthropic efforts include creating the 15 and the Mahomies Foundation, which focuses on improving children’s lives through initiatives emphasizing health, wellness, and education.
His influence extends beyond the football field into business and culture. In 2020, Mahomes became a part-owner of the Kansas City Royals, making him one of history’s youngest professional sports owners.
His endorsement deals with companies like State Farm, Adidas, Oakley, and Head & Shoulders have made him ubiquitous in sports media and advertising.
Real Estate
Mahomes has invested significantly in real estate, reflecting his growing success. In 2019, he purchased a $1.9 million home in Kansas City, which he later sold in 2023 after upgrading to a custom-built mansion in the gated community of Loch Lloyd.
His dream home includes a massive mansion, a giant pool, a private pond, and even a par-three golf hole. The property also features half of a football field, with his logo and name printed in the endzone.
This real estate venture showcases Mahomes’ taste for luxury while maintaining his roots in Kansas City, where he has become a beloved figure both on and off the field.
Honors and Accolades
Mahomes’ trophy cabinet is filled with awards that speak to his dominance on the field. Among his many accolades, he has been named NFL MVP twice, Super Bowl MVP twice, and First Team All-Pro multiple times.
His $500 million contract, signed in 2020, made him the first half-billion-dollar athlete in professional sports, setting new standards for player compensation.
His career trajectory places him alongside legends like Tom Brady, Joe Montana, and Peyton Manning as one of the greatest quarterbacks to ever play the game. Some of the critical honors and awards in Mahomes’ career include:
Sports Illustrated Sportsperson of the Year (2020)
NFL Most Valuable Player (2018, 2022)
Super Bowl MVP (2019, 2023)
First-Team All-Pro (2018)
NFL Offensive Player of the Year (2018)
Pro Bowl selections (2018–2022)
Super Bowl Champion (LIV, LVII)
Conclusion
Patrick Mahomes’ wealth and career achievements are undeniably impressive. Stay updated with more content like this on nflplayerfortune.com, and leave a comment below! Visit NFL Player Fortune.
