Alex Rodriguez gets real about what it takes to be a successful entrepreneur

It would be an understatement to say that Alex Rodriguez was just a baseball star. Not only has A-Rod turned heads on the field but post-retirement, he has built a business empire of his own.

He founded and is running the A-Rod Corp, which oversees his investments. According to the company website, the firm has ventured into several partnerships and are invested in more than 30 companies, with the total valuation of their investment close to $1 billion.

On Wednesday, A-Rod posted a video where he can be seen talking about the most important thing required to become a successful entrepreneur.

"There's no better investment that you're going to make ever more importantly than investing in yourself," Rodriguez said.

"And the more equipped you are, the more power you have. The best two things you can do is invest in yourself. The art of communicating, both speaking and in writing."

A-Rod also fronted the art of accounting an essential when it comes to businesses.

"And if you want to be in business, you have to know the international language, which is accounting," Rodriguez added.

"You know, go online, go on YouTube, learn accounting, know how it works, right? These are all the things that you need to do as an entrepreneur to keep improving. And just think about where do you want to be in five years and then work backwards."

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Alex Rodriguez and his business partner set to become majority owners of Minnesota Timberwolves

Alex Rodriguez and business partner Marc Lore teamed up to see through the transaction of becoming the majority owners of the Minnesota Timberwolves and the Minnesota Lynx.

That comes after both won the arbitration case against Glen Taylor, the current owner, in February.

The entire transaction started in 2021 when A-Rod and Lore bought the majority stake in the Timberwolves and the Lynx for $1.5 billion from Taylor. Three equal installments of the transaction were supposed to be done, which would have given A-Rod and Lore 60% ownership.

However, last year, Glen Taylor halted the transaction, claiming that A-Rod and Lore had missed deadlines to pay up. However, A-Rod and Lore said that they took approval of the NBA before the deadline of payment terms.

The case went to a three-person arbitration panel who ruled in favor of the partnership of Alex Rodriguez and Marc Lore. Once the NBA's board of governors approve the sale, the duo will become the new controlling owners of the franchise.