NBA players make too much money nowadays to go broke. You can fuckup $10mil career earnings. You have to be REALLY stupid to lose a billion in career earning which this dude might hit.
The money they make is WAY beyond what guys got paid before, even factoring in inflation. Plus they make money on investing in businesses and real estate and as venture capitalists.
The stars in the NBA can pull in a half billion off just their basketball income.
I wonder what the highest career earnings are for somebody who went broke after they retired.
I can easily see how the majority of pro athletes who make $5m or $1m or less only over a couple of years and are financially illiterate can blow it all in a heartbeat. But if Ant goes broke, who will have earnings of almost $300m after his current contract (and is guaranteed to make a lot more without a career-ending injury), that absolutely has to be #1.
He could pay $100k/year in child support (Dwight Howard pays $36k/year) for 20 kids for 18 years/each and that amounts to $36m, which is only 12.5% of what he will have earned by age 27.
In order to spend all of his guaranteed money, he would need 161 kids on child support to blow it all. Or 446 kids at Dwight Howard’s child support payments. Does he got that dog in him?
I live in NY where it can be up to 21 if they are still claimed as a dependent. He’s going to have to play to his 40’s at this rate to afford all these kids lol.
4 different kids/presumably moms so far, within 12 months, he’s only like 23? Plenty of time to keep having them, and I would imagine as his pay goes up so does the amount he has to pay in child support. I honestly don’t know how he plans to keep it up.
Yeah he’s a prime candidate for being broke after retiring from the NBA
Would be very surprised if this is still a thing for max contract players these days. Moneys too big now.
NBA players make too much money nowadays to go broke. You can fuckup $10mil career earnings. You have to be REALLY stupid to lose a billion in career earning which this dude might hit.
The money they make is WAY beyond what guys got paid before, even factoring in inflation. Plus they make money on investing in businesses and real estate and as venture capitalists.
The stars in the NBA can pull in a half billion off just their basketball income.
I wonder what the highest career earnings are for somebody who went broke after they retired.
I can easily see how the majority of pro athletes who make $5m or $1m or less only over a couple of years and are financially illiterate can blow it all in a heartbeat. But if Ant goes broke, who will have earnings of almost $300m after his current contract (and is guaranteed to make a lot more without a career-ending injury), that absolutely has to be #1.
He could pay $100k/year in child support (Dwight Howard pays $36k/year) for 20 kids for 18 years/each and that amounts to $36m, which is only 12.5% of what he will have earned by age 27.
In order to spend all of his guaranteed money, he would need 161 kids on child support to blow it all. Or 446 kids at Dwight Howard’s child support payments. Does he got that dog in him?
36k/year seems surprisingly low for someone who made as much money as Dwight
Mike Tyson went bankrupt after career earnings of like $300-400 million.
Taxes
AI made >$150MM over his career and yet still declared bankruptcy in 2010. He might be the highest off the top of my head.
This tops Antoine Walker who was someone else I thought of.
Cuz there are no 4’s!
Didn’t AI get caught up in something that lost bunch of people money? Like a ponsi scheme or something dumb.
Allen Iverson went broke - blew through about $200 million in about 15 years. He still had resources and got rich again, but he burned a lot of money.
I live in NY where it can be up to 21 if they are still claimed as a dependent. He’s going to have to play to his 40’s at this rate to afford all these kids lol.
Nah Not anymore can’t just go broke making 300-400 million dollar contracts even with the baby mamas
why not? isn’t alimony percentage-based?
Wouldn’t be surprised if he ends up broke while in the NBA. Seems crazy with these mega contracts but its happened before and debt adds up
4 different kids/presumably moms so far, within 12 months, he’s only like 23? Plenty of time to keep having them, and I would imagine as his pay goes up so does the amount he has to pay in child support. I honestly don’t know how he plans to keep it up.
Plan B
I don’t think there’s a whole lot of planning happening
Doesn’t seem to be having a problem.