What is Steve Young's Net Worth and Salary?
Steve Young is a retired American Football quarterback, investor and sports commentator who has a net worth of $200 million. Although Steve Young initially made his name as an athlete, he has since proved himself to be a capable businessman.
Somewhat of a rarity in the sports world, Young has strong financial instincts that have allowed him to build considerably on his initial success as a star quarterback. During his football career, Steve Young became recognized for his impressive passing ability and retired with the highest passer rating among all NFL quarterbacks.
Early Life
Jon Steven Young was born on October 11th, 1961, in Salt Lake City, Utah. He later attended high school in Connecticut. During his high school years, Steve Young quickly proved his potential, becoming especially efficient at scoring touchdowns during rushing plays. However, Young also proved himself to be a natural, all-around athlete, as he captained the basketball and baseball teams. Football runs in the family for Steve Young, as his father played football at BYU in the 50s and set a number of records. BYU itself is actually named after Steve Young's great-great-great grandfather, Brigham Young.
After graduating from high school, Steve Young considered attending the University of North Carolina, which aggressively pursued Young due to his football talents. Ultimately, he chose to attend BYU instead due to his family history there. Although Young was initially chosen for his running abilities, he worked hard to improve his passing technique during college. Eventually, this became a huge part of his game, and he set a new record with his 71.3% passing record. One of his final moments of college football was scoring a game-winning touchdown after the halfback had passed him the ball.
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Football Career
Steve Young began his professional football career in the United States Football League (USFL), starting in 1984. He signed a $40 million contract with the Los Angeles Express, but he agreed to accept installments each year for forty years in order to make the contract more manageable for the small team. Although Young could have entered the NFL in 1984, he wanted to work under head coach John Hadl and Sid Gilman, both of whom were working with the Express at the time.
Steve Young quickly made a name for himself, passing over 300 yards and rushing for 100 yards in a single game – a new record for a professional football player. Despite the fact that Steve Young was performing admirably, the Los Angeles Express was doomed to fail. It was never successful with the home crowd, and its financial situation soon became dire. At one point, Young had to personally pay the bus driver so that he could drive the team to a game. He also had to play tailback at one point because all of the Express' running backs were injured, and they didn't have the money to replace anyone.
Eventually, the Express would fail, and so would the entire United States Football League. Although it was initially reported that Young would continue to receive his annual installments from his $40 million contract, he later received a $1.4 million settlement because the team could not continue to pay.
Because of the dire state of the Express, Young's move to the NFL became inevitable. He bought out his contract and signed with the Tampa Bay Buccaneers, who were in pretty bad shape themselves. Young joined a team that regularly lost more than ten games per season, and things didn't really improve with Young at quarterback.
He was quickly offloaded to the San Francisco 49ers, who had more faith in his abilities. That being said, he spent three years playing as a backup to Joe Montana. Even as a backup, Young had some bright moments when he did come on as a substitute, and by the late 90s, he was clearly showing that he could be the next starting quarterback for the 49ers.
In 1991, Montana missed the entire season after an elbow injury, giving Young his chance to shine. Unfortunately, a knee injury caused him to be replaced by Steve Bono soon afterward. Eventually, Young was on the verge of being traded, which would have left the 49ers with just Bono and Montana. However, in 1992, Young seriously stepped up his game and guided the team to a number of impressive victories.
By 1993, Young had become the undisputed starting quarterback of the 49ers. In 1994, Young's abilities were beyond doubt, as they won the Super Bowl against the San Diego Chargers. That would prove to be the high point of Young's career, although he spent the next few years leading the NFL in passer rating on more than one occasion. He retired in 1999 due to repeated concussions he had suffered throughout his career. He later became an outspoken activist for avoiding concussions in professional sports, having experienced their negative consequences firsthand.
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Business Career
Steve Young received a Juris Doctor from BYU in 1994, and his interest in finance made him well-poised to pursue a successful business career after his football days. He eventually co-founded an equity firm with billionaire Jon M. Huntsman and Robert C. Gay in 2007. Young serves as managing director for the equity firm, which is called Huntsman Gay Global Capital (HGGC).
Acting
Steve Young has also appeared in various TV shows. He appeared in an episode of Frasier and Lois and Clark: The New Adventures of Superman. He also appeared as himself in shows like Dharma and Greg, Beverly Hill, 90210, The Singles Ward, Studio C, and Wings. In addition, Young served as a pundit on Monday Night Football.
Relationships
In 2000, Steve Young married Barbara Graham. Over the course of their relationship, they have had four children together. Steve Young has admitted that having children prompted him to write his biography, QB: My Life Behind the Spiral.
Salary
While appearing on Monday Night Football, Steve Young earned a salary of $2 million per year.
Real Estate
Steve Young owns a home in Old Palo Alto, one of the most affluent neighborhoods in California. The neighborhood is especially popular with tech billionaires from Silicon Valley, and Steve Jobs once had a home in Old Palo Alto.
