NBA Players Who Lost it All and Where They Stand Today

If NBA’s union statistics is anything to go by, then it’s sad to say that more than half of NBA players go broke within five years of their retirement. Here are some of the NBA players who know basketball, but need some help with their finances. SSome of them were able to rebound while others fell flat.

Check them out for yourself!

Dennis Rodman

Estimated Career Earnings: $27,000,000

Dennis Rodman made over $27 million during his NBA career but after poor lifestyle choices, hard partying and breaking his penis three times, this former championship player and reality star, went broke.  In 2014, Rodman was taken to court for child support in which he supposedly owed $808,935. Rodman claimed that he was too sick and broke to cover those expenses.

His reported net worth today is around $1 million dollars. Quite a fall for a man who was once married to Carmen Electra, and dated Madonna.

Rick Mahorn

Estimated Career Earnings: $8,000,000

Rick Mahorn tried to do the right thing by doing a lot for the city of Detroit. He made a lot of property investments in the city, and when the city went broke so did Rick Mahorn. In 2010 he was forced to hawk his championship ring, and file for bankruptcy. He was also billed by the city for $55 worth of late fees at the local library. Talk about gratitude…

He was able to redeem himself, however, becoming an NBA radio analyst. His current net worth is around $4 million.

Gilbert Arenas

Estimated Career Earnings: $160,000,000

Gibert Arenas has not gone entirely broke yet. that said, the man who once earned $160 million in the NBA has done everything he can to squander his money His seven-bedroom mansion harbors his own personal shark tank, he owns over 2,000 pairs of shoes, and he loves to gamble. These types of expenses will not help him save money.

Arenas still has a net worth around $10 million, but TMZ reported in October that he was refusing to pay for private school for his four children, since the school would cost him around $100,000 a year.

Eric Williams

Estimated Career Earnings: $40,000,000

Fans of Basketball Wives on VH1 will remember Eric Williams as the asshole who threw a drink on his wife Jennifer when she told him she wanted a divorce. Since then Williams has been on a downward spiral becoming penniless and homeless.

Tami Roman who appeared on Basketball wives with Williams and his ex, Jennifer, claims that his hardship is due to the fact that “God don’t like ugly.”

His current net worth is -$100 thousand.

David Harrison

Estimated Career Earnings: $4,400,000

David Harrison’s NBA career lasted only 4  years, and his lackluster performance was outshined by his participation in the infamous “Malice in the Palace” incident. Harrison allegedly punched a 67-year-old fan, and though Ron Artest or Meta World Peace received the heaviest suspension after going into the stands, but Harrison still received one year of probation, 60 hours of community service, a $250 fine and anger management counseling and an $85,000 fine which started his downfall.   turning

He then had problems with marijuana, failing several drug tests, which help lead to his career’s demise. News of the former NBA-er’s financial state hit the headlines in 2013 when he was unable to pay for his son’s Happy Meal and took a job for a brief time at McDonalds.

His current net worth is unknown.

Charles Barkley

Estimated Career Earnings: $40,300,000

Charles Barkley was never destitute, but he came close. Barkley had a gambling addiction which almost cost him everything. In 2006 he claimed that he’d lost around $10 million, and lost $2.5 million of that playing blackjack in under six hours.

He seems to have gotten his addiction (which he as always denied having) under control, and with his job at TNT, he’ll be just fine.

His current net worth is $40 million.

Jason Caffey

Estimated Career Earnings: $35,000,000

Jason Caffey was a decent basketball player with the Bulls and the Warriors, but his life off the court led to his earning disappearing. Caffey fathered 10 children with 8 different women and was arrested for failing to pay child support. A judge denied his request to file bankruptcy in 2008,  leaving him open to child support-related lawsuits.

Caffey also suffered from anxiety issues and received an assault charge while he was still in the league.

His current net worth is unknown.

Derrick Coleman

Estimated Career Earnings: $91,000,000

Derrick Coleman isn’t broke, but he had a bout of financial troubles in 2010 when a few of his business ventures in Detroit went belly up. He had stakes in various fast food chains, and ownership stakes in a Hilton Hotel, that never panned out. Instead, he has to file bankruptcy in 2010, owing $2.19 million to between 50 and 100 creditors.

His current net worth is $40 million.

Kenny Anderson

Estimated Career Earnings: $63,000,000

played 14 years in the league and earned close to $63 million.

What happens when your monthly budget allocates $10,000 “Hanging Out” money? Turns out you’re not managing your money very well.

Kenny Anderson played in the league for 14 years and managed to burn through all of his money. At one time he owned a Beverly Hills mansion and eight cars, but he lost it all. He had child support payments for five of his now seven children, but his biggest loss came when he divorced Real World and Basketball Wives star Tami Roman. When their divorce was final and Anderson was virtually penniless, Roman celebrated her divorce victory by buying a car and equipping it with the vanity plate that read “HISCASH”.

Anderson has managed to turn his life around, however, by getting his college degree from St. Thomas University and was even part of Dennis Rodman’s effort to achieve diplomacy through basketball in North Korea.

His current net worth is $800 thousand.

Eddy Curry

Estimated Career Earnings: $70,000,000

Eddy Curry is a perfect example of why kid’s who are also ball players need some sort of schooling before they enter the NBA, even if it just long enough for them to mature a bit.

Curry was not ready for all of the money he was making and me some very bad financial decisions. including trying to fix his financial situation by taking out a $580,000 loan with an 85% interest rate. He also gave $16,000 allowances to his friends and family members and purchased 12 cars for those friend and family members.

The NBA should teach these players how to manage their money or all of these players should watch Ballers.

He has learned from his mistakes, however, and managed to rebuff some of his earnings and now has a current net worth of $3 million.

Vin Baker

Estimated Career Earnings: $100,000,000

Vin was a four-time All-Star but after retiring from NBA, he went from grace to grass after blowing all his earnings on gambling, alcoholism, and bad investments. As if that was not enough, Vin also lost a restaurant he owned that was christened “Vinnie’s Saybrook Fish House” plus his 10,000 square-foot Connecticut home to foreclosure.

Since then Baker has managed to turn his life around. He may not ever be back in the $100 million wage bracket, but he has quit drinking, was part of Dennis Rodman’s diplomacy efforts with North Korea in 2014, and through connections with the Sonics, became a manager at Starbucks.

His current net worth is $500 Thousand.

Latrell Sprewell

Estimated Career Earnings: $100,000,000

Latrell Sprewell, who may be best remembered for infamously choking then-Golden State Warriors head coach P.J. Carlesimo, broke the record when he turned down a 3-year, $21 million dollar contract offer claiming he had to feed his family. However, as fate would have it, Sprewell blew all he had on maintaining his lavish lifestyle, purchasing yachts and a second million dollar home which was later foreclosed.

His current net worth is $50 thousand.

Antoine Walker

Estimated Career Earnings: $110,000,000

Antoine comes in as a big spender who went broke only three years after his retirement. The former player with Celtics lost his money through supporting a huge entourages. His mother admits that Walker financed up to 70 people during his playing days and turned his garage into a parking lot of luxury cars.

His current net worth is $250 thousand.

Scottie Pippen

Estimated Career Earnings: $120,000,000

They say money makes the world go round, and this was very true to Scottie Pippen who once spent more than $4 million on a corporate jet that didn’t work and another $1 million to fix it, and it still never took flight. The Bulls legend lost most of his fortune to bad investments, lavish lifestyle, and a number of attorneys who looted his wealth.

He turned all of his past mistakes around, however, when he returned to the Bulls in 2010 as a team ambassador. In 2012, he was named senior advisor to Michael Reinsdorf, the Bulls’ president and COO.

His current net worth is $50 million

Allen Iverson

Estimated Career Earnings: $200,000,000

Allen Iverson remains the biggest loser of all NBA players’ retirees after blowing close to a quarter billion dollars on expensive jewelry and private jets. Allen who used to wear the finest diamond-encrusted Cartier watches had his home foreclosed in February 2013, forcing him to seek refuge in a hotel in Charlotte, NC for a couple of months.

However, all is not lost for Allen because he had signed a lifetime endorsement contract with Reebok. He will only be able to touch the $30 million “rainy day” trust fund in 2030 (he’ll be 55) which will come a long way in providing him with a good financial health for his golden years.

As of now, however, his current net worth is -$1 million.