Former NBA star Antoine Walker is broke--in millionaire's terms. The former forward made roughly $110 million over the span of a 12 year career including salary, adidas endorsements, and a cover for NBA Live 99. He still has over half that money left, but he is over $4 million in debt and facing check fraud charges. The Boston Globe gave a partial accounting of what he did with his money: two Bentleys, two Mercedes, a Range Rover, a Cadillac Escalade, a bright red Hummer--all customized/pimped/tricked out--he supported an entourage of 70 friends and family (isn't that how MC Hammer went broke?) and he built his mama a mansion in the Chicago suburbs, complete with an indoor pool, 10 bathrooms, and a full-size basketball court. At least he took care of mama and isn't facing child support charges.
taxes take about half of it upfront so the "still having half the money left" part simply isnt even remotely true
ReplyDelete^^^It's not like he stuck $110 million in a mattress and never invested any of it or it never earned interest so I don't understand what you're talking about. Whatever he got after taxes I'm sure his advisors invested. Even if he spent like crazy it is hard to spend up $50 or 60 million just like that. He could have spent 30 and still earned more over 10 or 12 years through investments. People need to understand financial dealings.
ReplyDelete1.)he gambled the $$ away and he's broke now.
ReplyDelete2.)gambled money don't earn interest or is considered an investment.
3.) financial advisors don't advise you to gamble
4.)you can lose money rapidly by doing so-see charles barkley
5.) google 'Antoine Walker' so you understand the issue better