Lamar Jackson is favored to win the NFL’s 2024 MVP award, the league’s highest honor.
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Just six years into the NFL, and Lamar Jackson has already changed the way the game is played — for proof, just check out his rapidly expanding bank account.
Known as a “dual-threat quarterback,” the Ravens star excels at both passing and running the football — not to mention dazzling fans, frustrating opponents, and shattering records along the way.
Favored to be voted MVP for the second time in 2024, Jackson led the Baltimore Ravens to the AFC Championship as well as a 13–4 season, the best in the league. His electrifying presence also made headlines off the field, as Jackson recently negotiated a five-year, $260 million contract extension without the help of an agent.
This deal made him the highest-paid player in the NFL and will ensure that his wealth lasts long after his Hall of Fame induction.
What is Lamar Jackson’s net worth?
As of January 2024, celebrity net worth websites peg Jackson’s fortune at a not-too-shabby $40 million, but they’re due for an update: His current yearly salary blows that figure away at $52 million, and his contract extension with the Ravens, signed in May 2023, included a $72.5 million signing bonus (more on that below).
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Although he suffered season-ending leg injuries in 2021 and 2022 and went through a tumultuous contract extension negotiation that stretched out for more than two years, Jackson is credited with breathing new life into the Ravens franchise, using his leadership to inspire his teammates to dominate their league.
In terms of on-field earnings, Forbes designated Jackson as the highest-paid player in the NFL in 2023 and placed him on their 2024 list of “30 Athletes Under 30.” Although it’s curious that big-name endorsement deals have yet to follow, we’re pretty sure a Super Bowl ring will soon be changing that.
Jackson’s mother, Felicia Jones, has had a major influence on the star quarterback and even served as his manager during his transition from collegiate sports to the NFL.
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What was Lamar Jackson’s early life like?
Lamar Demeatrice Jackson Jr. was born on January 7, 1997, just north of Fort Lauderdale, in Pompano Beach, Florida. When Jackson was eight years old, Lamar Jackson Sr., his father, died in a car accident. Even more tragically, his grandmother suffered a heart attack and died the very same day, leaving Jackson’s mother, Felicia Jones, to raise him and his three siblings alone. They forged an unbreakable bond in the process.
Jackson’s prodigious talents became apparent in his Pop Warner football league; when he was just eight years old, he could throw a football 20 yards — twice as far as the average for his age. He played at Santaluces High and then later transferred to Boynton Beach High School, where he held the position of starting quarterback.
Jackson was courted by dozens of top colleges for his ability not only to use his arms, in throwing passes, but also his legs, in running the football. In fact, because of his exceptional ability to run through tackles without losing his balance, scouts often considered him for a different position: wide receiver.
Sports Illustrated reported that at practice as a freshman in 2015, the Louisville Cardinals had asked Jackson onto the field as a punt returner, only later to receive a phone call from his mother, saying, “punt returner doesn’t look like quarterback.”
Jackson had accepted an offer to play at the University of Louisville with the promise from coach Bobby Petrino that he’d play quarterback, and true to his word, during opening weekend against Auburn, he put Jackson in — only to watch him throw an interception. Calming his nerves, as the team was down 14–0 in the second quarter and needed his help, Petrino put Jackson in again, and this time, he led three touchdown drives, threw for 100 yards, and rushed for even more.
In his sophomore year, the 6’5” quarterback passed for 3,543 yards and threw 30 touchdowns and 9 interceptions. Jackson rushed for 1,571 yards and 21 touchdowns and scored a Heisman Trophy in the process.
In 2018, Jackson entered the NFL Draft intent on the position of quarterback. In fact, he opted not to run the 40-yard dash, which is designed to allow the NFL to evaluate player speed and often leads to higher draft rankings. It was rumored that a team had wanted to see how Jackson would play as a wide receiver, and so he stuck to throwing passes, as quarterbacks do.
Jackson’s decisions were guided by his mother, who at the time was also his manager. (Later it was revealed that a scout from the Los Angeles Chargers had made the request.)
Jackson is known as a dual threat quarterback for his ability to both run with and pass the ball.
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How much did Jackson make in his rookie year?
Jackson’s decision didn’t hurt him, though, as he would end up being drafted by the Baltimore Ravens in the first round, the 32nd pick overall. His rookie contract was a four-year, $9.47 million deal that came with a $4.97 million signing bonus. (It also had a 5th-year option, which was the same as his franchise tag salary.)
That November, with starting quarterback Joe Flacco sidelined with a hip injury, Jackson got his start against the Cincinnati Bengals. As Jackson walked onto the field, the crowd erupted in a standing ovation. Did they anticipate the magic in store for them?
Needless to say, Jackson delivered a similar buzz to his offense by carrying the ball 27 times for 117 yards — and set an NFL record in the process. He rushed for 265 yards, completed 13 of 19 passes for 150 yards and a touchdown, and gave the Bengals vertigo in the process — they just couldn’t figure out if Jackson would hold onto the ball or hand it off.
And that, in effect, is the power of the running quarterback. The Ravens ended the game with a 24–21 victory, with head coach John Harbaugh praising Jackson’s efforts, calling his performance “poised” and “spectacular.”
Jackson would go on to start the final seven games of the season, and the Ravens would end their 2018 season with a 10–6 record, reaching the playoffs for the first time since 2014.
The Ravens would shatter even more records in 2019 with Jackson at the helm. He broke quarterback Michael Vicks’ single-season rushing record, becoming the only quarterback in NFL history to run for more than 1,000 yards.
The Ravens, in turn, enjoyed a franchise-best number of points in a season (500) and the most rushing yards in the NFL (3,296). They averaged 200 passing yards and 200 rushing yards per game — the only team in NFL history to do so — and brought home the AFC title in the process (although they would ultimately be defeated by the Tennessee Titans in the Divisional Round).
Jackson and four of his teammates, Ronnie Stanley, Marlon Humphrey, Marcus Peters and Justin Tucker, were all named to the 2019 All-Pro Team, the most of any team in the NFL. In addition, Jackson was also named the league’s MVP.
Jackson was red-hot, and he wanted a contract to match.
in regards to my future plans. As of March 2nd I requested a trade from the Ravens organization for which the Ravens has not been interested in meeting my value, any and everyone that’s has met me or been around me know I love the game of football and my dream is to help a team
— Lamar Jackson (@Lj_era8) March 27, 2023
How much was Lamar Jackson’s contract extension worth?
Jackson set an NFL record with his five-year, $260 million contract extension signed in May 2023. It had $185 million in guarantees, a $72.5 million signing bonus, and an average annual salary of $52 million, propelling him past Jalen Hurts, the quarterback of the Philadelphia Eagles who had until that point been the league’s highest-paid player.
The deal had been a long and often difficult process. The Ravens applied a $32.4 million nonexclusive franchise tag in March 2023, which effectively kept Jackson off the free-agent market but allowed him the opportunity to sign with another team. Jackson requested to be traded, tweeting on X that the Ravens “have not been interested in meeting my value.”
Jackson was plagued by injuries during the 2021 and 2022 seasons. On January 16, 2021, he suffered a concussion in the third quarter during the playoff game against the Buffalo Bills. After an ankle sprain against the Cleveland Browns in December 2021, Jackson was out for the rest of the season.
The following year, he missed the final six games of the 2022 season due to a sprain in his knee. Over the same period, however, Jackson still managed to complete 67% of his passes for 12,209 yards, and 101 touchdowns with 38 interceptions. He also rushed for 4,437 yards and 24 touchdowns.
After his contract was finalized, Jackson held a news conference, flanked by Harbaugh and Ravens general manager Eric DeCosta, saying “I really didn’t care about other teams.” He admitted that he wanted to stay in Baltimore. “The time had come. The numbers were right,” he added, to the delight — and relief — of the entire city.
Jackson led the team to a powerhouse 2023 season, setting career records in passing yards and attempts while retaining his signature rushing style that befuddled defensive lines. His standout performance against the 49ers led to a 33–19 victory and likely earned him the nod for the league’s Most Valuable Player.
What endorsement deals does Lamar Jackson have?
Why hasn’t Nike or Adidas inked deals with Lamar Jackson yet? Where is his cereal line or energy drink? His performance has certainly been inspiring enough …
Jackson does have his own NFL-licensed Virtual Reality (VR) game, called NFL Pro Era, from StatusPRO, a minority-owned sports technology company that uses AI algorithms to breathlessly simulate tackling and pass-catching plays from the practice field all the way to the Super Bowl. The game can be purchased on Meta Quest 2 for $29.99.
In addition, Jackson has a four-year endorsement deal with the Oakley eyewear brand, serving as the face of the Oakley Football Shield, which he has personally worn since high school. He also promotes their Coldfuse and the Holbrook XL lines.
Jackson’s business investments include a clothing brand he owns, Era 8, along with Lamar Jackson Entertainment, his record label and production company.
In April 2022, Jackson opened a restaurant in his hometown of Pompano Beach Florida. Play Action Soulfood, which features fresh ingredients from local farmers markets, offers standouts like fried ribs, smash burgers, chitterlings, and sweet potato pie. A local news station reported that Jackson had applied to trademark the restaurant’s name as well as its catchphrase, “You 8 Yet?”
Why doesn’t Lamar Jackson have an agent?
Only a handful of NFL players represent themselves, and Jackson is one of them. While a few notable players have done so in the past, like Richard Sherman, Russell Okung and Edgerrin James, it remains a complicated job with many fine details.
The upside is that players who represent themselves don’t have to pay the typical 3% commission agents usually earn from contract deals.
But the downsides are many. For one, players who self-represent don’t have an experienced advocate on their side who can help them navigate through often dense negotiations surrounding second, third, or fourth contracts. They also simply don’t have the deep relationships with team executives and networks that agents use to help their star clients land endorsement deals, not to mention the sheer amount of time it takes to sit through these negotiations — time that some believe may be better spent on the playing field.
What real estate does Jackson own?
According to The New York Post, Jackson’s first purchase as a Raven was an eight-bedroom mansion in Owings Mills, Maryland. Jackson paid $900,000 in cash for the estate in 2018, which features a dramatic staircase, multiple fireplaces, a pool with a hot tub, and other upscale features.
The neighborhood is a popular place for Ravens to establish roots and has hosted the likes of former players Joe Flacco and Torrey Smith. As of January 2024, Zillow has estimated the home’s value to have appreciated to $1.3 million.
What other luxuries does Jackson own?
Jackson’s million-dollar home must come with a multi-car garage; in addition to his mansion, he spends his hard-earned paychecks on an assortment of luxury vehicles including a 2022 Rolls-Royce Ghost (with a price tag starting at $340,000), a 1969 Chevrolet Chevelle SS396 (which could be worth upward of $300,000), and a 2019 Mercedes-Benz SL Class (with a price tag starting at $90,145), to name a few. He has been known to share photos of his collection from time to time on his Instagram stories.
When Lamar treats everyone to ice cream, you can’t say no!! 🍨🍦 @Lj_era8 #FundayWithLJ
🎥: TruzzProductionz™ pic.twitter.com/UMIvM35Akc
— Forever Dreamers Foundation (@forever8dreame1) July 9, 2023
Does Lamar Jackson have a charitable foundation?
Jackson makes sure to give back through his foundation, Forever Dreamers. According to its website, the foundation ensures a better future for over 23,000 children a year through free, Funday Weekend events. Future plans include expanding programs to include scholarships, skill building, and football training workshops.
