Pelé, a Brazilian football icon, had an estimated net worth of $100 million at the time of his passing on December 29, 2022, at the age of 82. Widely regarded as the greatest soccer player in history, Pelé was not only famous for his on-field achievements but also for his enduring presence in the sport’s global culture. At his peak, during the mid-1970s, Pelé earned $10 million annually through both salary and endorsements, a figure adjusted for inflation to today’s standards. Even years after his retirement, Pelé remained a lucrative figure in the sports world, earning substantial income from endorsement deals, most notably with Puma.
Pelé’s career was marked by numerous records. He scored a total of 1,297 goals across all competitions, with 541 of them coming in top-tier league matches, a record that still stands. He remains Brazil’s all-time top scorer with 77 goals, and his legacy extends far beyond the football pitch. In his post-football life, Pelé became an ambassador for the sport and a political activist, focusing on improving the living conditions of the impoverished in Brazil. His contributions off the field further solidified his status as a national hero.
Early Life and Name Origin
Born Edson Arantes do Nascimento on October 23, 1940, in Três Corações, Minas Gerais, Brazil, Pelé grew up in a family with strong ties to football. His father, Dondinho, was also a football player, which naturally led Edson toward the sport. Raised in poverty in Bauru, São Paulo, Pelé faced early financial struggles. Despite these hardships, he learned to play football from an early age, using a grapefruit as a ball due to the family’s inability to afford one. His talent soon shone through, and he excelled in playing futsal, a version of football played indoors.
Pelé’s nickname came about when he mispronounced the name of a goalkeeper, Bilé, as “Pelé” during his childhood. His friends found it amusing, and the name stuck, despite having no meaning in Portuguese or any other language.
Football Career: Rise to Fame
Pelé’s football career officially began at Santos FC, where his extraordinary skills as a 15-year-old impressed the club’s coach. In 1956, he signed his first professional contract and made an immediate impact, scoring during his debut match. By the age of 16, he had become the top scorer in Brazil’s national league. His success soon led him to represent Brazil in the 1958 and 1962 World Cups, where he left an indelible mark on the global stage.
Though Pelé received offers from some of the biggest European clubs, he stayed loyal to Santos and his home country. Under his leadership, Santos won numerous titles, including the 1962 Intercontinental Cup and the Copa Libertadores in 1963. In 1969, during the Nigerian Civil War, both sides declared a temporary 48-hour ceasefire to watch Pelé play in Lagos, underscoring his immense influence. Despite the offers, Pelé never played for a European powerhouse like Real Madrid or Inter Milan, but his legacy in Brazil remained unmatched. In 1975, Pelé signed with the New York Cosmos in the United States, marking a significant moment in the sport’s history.
Cosmos Contract and Impact on American Soccer
Pelé’s move to the United States was marked by a groundbreaking $4.5 million contract, a deal that paid him $1.7 million per year. Adjusted for inflation, this is equivalent to a $25 million contract with an annual salary of $9 million in today’s terms. Pelé’s arrival in America drew attention to soccer, which had previously struggled to capture the public’s imagination. His influence helped raise the profile of soccer in the U.S., and many other football legends followed in his footsteps, including Franz Beckenbauer and Carlos Alberto. Pelé’s presence also led to record crowds, with over 62,000 fans attending a Cosmos match at Giants Stadium in 1977.
World Cup Glory
Pelé’s international career was nothing short of remarkable. He debuted on the world stage by winning the 1958 World Cup in Sweden, where he scored two goals in the final against the host nation. Four years later, Pelé was part of Brazil’s 1962 World Cup-winning team, although he was sidelined for most of the tournament due to injury. His return in 1970 was triumphant, as he led Brazil to another World Cup victory, cementing his status as the greatest player of his generation.
Endorsements: Puma Deal
In the late 1960s, as Pelé’s fame continued to grow, the rivalry between the founders of Adidas and Puma reached new heights. Rudolf Dassler, the founder of Puma, broke an agreement between the two companies to avoid competing for Pelé’s endorsement. At the 1970 World Cup, Puma signed Pelé to a $120,000 deal (equivalent to around $1 million today). The contract came with an unusual stipulation: Pelé had to tie his shoes during a World Cup semi-final, so the camera could capture the moment and showcase his Puma footwear. This moment became iconic in sports history.
Philanthropy and Ambassadorial Roles
Following his retirement from professional football, Pelé became deeply involved in humanitarian work. In 1992, he was appointed as a United Nations ambassador for ecology and environmental causes. Two years later, he became a UNESCO Goodwill Ambassador, using his influence to promote education and social justice across the world.
Pelé’s Final Days and Passing
Pelé’s health began to decline after he was diagnosed with colon cancer in 2021. In November 2022, he contracted COVID-19, which led to respiratory complications. On December 3, 2022, his doctors announced that Pelé had become unresponsive to his chemotherapy treatments, opting to switch to palliative care. He passed away on December 29, 2022. In his will, Pelé bequeathed 30% of his assets to his wife, Marcia Aoki. In March 2023, the Kihali Pelé Stadium in Rwanda was renamed in his honor as a testament to his global impact.
Real Estate and Property
Pelé’s real estate holdings were as impressive as his career. In 1974, after joining the New York Cosmos, he purchased an apartment in New York City. Five years later, he acquired a one-acre waterfront property in East Hampton, New York, for $156,000, where he built a 3,400-square-foot mansion. In 2018, he sold the property for $2.85 million after initially listing it for $3.25 million. In addition to his American properties, Pelé owned several homes in Brazil, including an oceanfront estate in Guarujá.
Pelé’s legacy endures not just through his incredible career achievements, but also through his influence on global football, his philanthropic work, and his lasting impact on both the sport and society.