JUMP TO:
Michael Penix Jr.'s college career was complete with trials and tribulations, but he overcame adversity to become an All-American, Heisman Trophy finalist, and the No. 8 pick in the 2024 NFL Draft.
The Falcons stunned the sports world with their decision to select Penix with a top-10 pick, eventually handing him the keys to the franchise by naming him their starter ahead of Week 16 in his rookie season. With Penix's accolades has come great notoriety, and with that notoriety has come a nice payday and plenty of endorsements.
Here is everything to know about Penix's financial accomplishments up to this point in his football career.
MORE: Most NFL Draft picks by a school in one year
Michael Penix Jr. net worth
The exact figure for Penix's net worth is hard to nail down, but it is listed at $1.2 million on Pro Football Network's assessment. That number likely factors his rookie year salary in addition to NIL earnings.
MORE: Ranking the best first-round quarterbacks, from Peyton Manning to Lamar Jackson
Michael Penix Jr. NFL contract details
Penix signed a four-year, $22.9 million contract with the Falcons in 2024, commensurate with being the No. 8 pick in the NFL Draft. The fully guaranteed deal includes a $13.5 million signing bonus and a fifth-year team option for the 2028 season.
Penix's deal carries an average annual value of $5.7 million, and he will earn just over $1.8 million in Year 2 of his contract with his base salary and roster bonuses.
MORE: Ranking the most iconic NFL Draft outfits in history
Michael Penix Jr. NFL career earnings
Based on the terms of his rookie deal, Penix will have earned just over $16.0 million through his first two seasons, factoring in his $13.5 million signing bonuses and $2.5 million in salary through his first two years on the field.
MORE: Most Super Bowl wins in history by player
Michael Penix Jr. NIL earnings
Penix had an NIL valuation of $1.5 million during his time at the University of Washington, according to On3. His deals included Adidas, Amazon, Beats by Dre, and Raising Cane's.
MORE: Complete list of Super Bowl MVP winners through the years
Michael Penix Jr. endorsements
Penix has several notable endorsement deals, some of which began during his college career and followed him to the NFL. He is one of the members of Adidas Football's next generation of athletes and has collaborated with other brands.
Adidas
Beats by Dre
Panini
Sharpie
Michael Penix Jr. business ventures and philanthropy
Penix's philanthropy dates back to his college years.
At the University of Washington, Penix said the best part about NIL was the ability to give back, saying, "I’ve had people that would give back to me, as well, growing up…Giving back is just always something that’s been in my blood."
He volunteered with Mary's Place, a nonprofit Seattle organization that provides shelter and outreach for families with children experiencing homelessness.
The big reveal!! No one had seen my drawing of @themikepenix yet, and I wanted Coach @KalenDeBoer to be the first!! Here’s his reaction!! 🙏
Reminder… Michael Penix Jr and I are signing 200 prints… and there’s only a few left!! Grab one at https://t.co/no8DLs9TY6 before… pic.twitter.com/8Qpouqi6up
— Keegan Hall (@KeeganHall) October 13, 2023
During his rookie season, Penix partnered with Sharpie to represent the Boys & Girls Club during the NFL's "My Cause, My Cleats" campaign.
“Growing up, my dad was always the guy that cared about the youth, going around the neighborhood, picking up the kids to bring them to football practice, get them to work out so they find a joy outside of just doing things in the streets that cause trouble," Penix said of representing the Boys & Girls Club.
“I want to be that positive example, that role model they can look up to. Set an example that there's great things that you can do in this world and you just have to believe so.”
MORE: Who are the oldest players drafted in NFL history?
Where does Michael Penix Jr. live?
Penix lives in the Atlanta area and reportedly purchased a home on the same street as fellow Falcons QB Kirk Cousins.
Per that report, Penix's home would be in Suwanee, Ga., located around 30 miles north of Atlanta and is about an 80-minute drive from Mercedes-Benz Stadium, home of the Falcons.
MORE: How does NFL MVP voting work?