Mike Schmidt Net Worth

What is Mike Schmidt's net worth?

Mike Schmidt is a retired American professional baseball player who has a net worth of $20 million. Mike Schmidt was a third baseman who batted and threw right handed. Schmidt played at Ohio University where he led the team to the College World Series. He was drafted #30 by the Philadelphia Phillies in the 1971 Major League Baseball draft.He played for the Phillies for his entire career, from 1972 to 1989. He was a 12-time All-Star, three-time National League (NL) MVP, and ten-time Gold Glove Award winner. He was World Series champion and World Series MVP in 1980. Schmidt is remembered for his powerful hitting and exceptional fielding skills. With a total of 548 home runs, he ranks 16th on the all-time home run list. He led the NL in home runs eight times and in RBI four times. He also hit four home runs in a single game in 1976. In 1995, Schmidt was inducted into the Baseball Hall of Fame on his first ballot, a testament to his remarkable career and impact on the game.

Early Life and College

Born on September 27, 1949, in Dayton, Ohio, Schmidt discovered his passion for baseball at a young age. He attended Fairview High School, where he played both baseball and basketball. After graduating high school, Schmidt attended Ohio University, where he continued to play baseball for the Bobcats. It was during his college years that his potential as a future professional baseball player became evident. In 1971, he was selected in the second round of the Major League Baseball draft by the Philadelphia Phillies.

Minor League Career

In the 1971 MLB draft, Schmidt was chosen by the Philadelphia Phillies in the second round. After making his debut with the Phillies in an exhibition game, during which he hit the game-winning home run, Schmidt spent the remainder of the season in the minors at the Double-A level. In 1972, he was promoted to the Triple-A Eugene Emeralds. During his two seasons in the minors, Schmidt batted .263 and scored 34 home runs.

Major League Career

Called up to the Phillies toward the end of the 1972 season, Schmidt made his MLB debut in a game against the New York Mets. Just days later, he scored his first career home run in a game against the Montreal Expos. In Schmidt's first full season with the Phillies in 1973, he batted only .196, but proved his power hitting ability by scoring 18 home runs. He improved considerably in 1974, batting .282 and hitting a league-leading 36 home runs. Schmidt led the league in homers again in both 1975 and 1976, scoring 38 in both years. Moreover, in 1976, he won his first of ten Gold Glove Awards and led the Phillies to their first division crown. The following year, Schmidt signed a contract with the Phillies that made him the first baseball player ever to surpass $500,000 in annual earnings in the MLB. Pete Rose soon supplanted him as the highest-paid athlete when the team signed him in 1978. The year after that, Schmidt set a new single-season franchise record for home runs, with 45. He topped that record in 1980 with 48 home runs, which, coupled with his league-leading 121 RBIs, earned him the NL's MVP Award. The Phillies went on to reach the World Series, where they defeated the Kansas City Royals to win their first World Series title. Schmidt was named MVP of the tournament.

Despite being strike-shortened, the 1981 season was one of Schmidt's best. Not only did he lead the league with 31 home runs, he also led the league in runs scored, RBIs, total bases, and walks. In recognition of his achievements, Schmidt earned his second-consecutive MVP Award. He had another superb season in 1983, the 100th anniversary of the Phillies franchise. That year, Schmidt led the league in homers for the sixth time in his career, and helped the Phillies make it back to the postseason. In the NLCS, the team beat the Los Angeles Dodgers; however, the Phillies fell to the Baltimore Orioles in the World Series. After that season, Schmidt received the Lou Gehrig Memorial Award. He had relatively underwhelming seasons in 1984 and 1985, but came back strong in 1986 with a league-leading 37 home runs and 119 RBIs. Schmidt claimed his third MVP Award, a record for a third baseman. In 1987, he had another major achievement when he hit his 500th career home run. Following an injury-shortened season in 1988, Schmidt returned in 1989 raring to go. However, it would be a truncated season and his last in the MLB, as a poor start prompted him to announce his retirement in May. Schmidt finished his career as the Phillies' all-time leader in multiple categories, as well as one of only three players, alongside Willie Mays and Ken Griffey Jr., to have won ten Gold Gloves and hit at least 500 home runs.

Career Earnings

During his MLB career, Mike Schmidt earned a total of $17 million in salary from the Phillies. He also earned several million more from endorsements.

In 1983, Mike Schmidt was the highest-paid player in Major League Baseball, earning a salary of $1.6 million. Adjusting for inflation, this salary would be equivalent to approximately $4.3 million today.

Retirement and Post-Playing Career

Mike Schmidt retired from professional baseball in 1989, finishing his career with a .267 batting average, 2,234 hits, 1,595 runs batted in (RBI), and 548 home runs.

In the decades since his retirement from baseball playing, Schmidt has written baseball articles for CBS, provided baseball commentary for NBC and ABC, and participated in charity golf tournaments. He was inducted into the National Baseball Hall of Fame in 1995. Close to a decade later, he was honored with a statue outside Citizens Bank Park in Philadelphia.

Schmidt eventually returned to baseball as a coach and manager. In 2002, he began working with the Phillies as a hitting coach during spring training. A couple years later, he managed the Clearwater Threshers, the Phillies' Single A Florida State League affiliate. In 2009, Schmidt served as the third-base coach for Team USA in the World Baseball Classic.

Philanthropy

Schmidt has also been involved in some philanthropic endeavors. In 2001, he began sponsoring an annual fishing tournament in the Bahamas to raise money for cystic fibrosis research and treatment. He later released a wine called Mike Schmidt 548, with proceeds also benefiting cystic fibrosis research and treatment.

Personal Life

In 1974, Schmidt married Donna Wightman. Together, they have a daughter named Jessica and a son named Jonathan.

Legacy and Hall of Fame Induction

In 1995, Mike Schmidt was inducted into the Baseball Hall of Fame, receiving 444 out of 460 votes, or 96.5% of the vote. This first-ballot induction solidified his status as one of the all-time greats in the sport of baseball.

Real Estate

In 1991 Mike purchased a 7,000 square foot mansion in Jupiter, Florida. He listed this home for sale in October 2009 for $4.5 million, ultimately accepting $3 million in July 2013. He probably should have held onto this home because today it's worth $9-10 million.