How Antoine Walker SPENT $110 Million Dollars And Went BROKE In Under 10 Years!

[Real14]

The Interview...

http://www.thegrandreport.com/antoine-walker-spent-110-million-dollars-went-broke-10-years/

http://cache.boston.com/bonzai-fba/Globe_Photo/2005/03/01/1109710159_3189.jpg

Damn poor Antoine. This is a prime example on how being rich can end quick so terribly:facepalm . Save your money wisely, make the right investments, stray away from gambling, and stay far away from begging family members and begging friends as much as you can whenever you reach higher in success.

[KendrickPerkins]

Why do you type like a normal person all of a sudden, bro?

[Real14]

Why do you type like a normal person all of a sudden, bro?
This is a serious matter man. Seeing this interview hurts man. Antoine was blessed with talent and blessed with financial status that everybody here wish they could obtain. This is a REAL message that all of us should sink in and we should try not to make the same idiotic mistakes he made.

[keep-itreal]

oh yeah, poor Antoine. Guy made $110 million dollars playing basketball. We should all feel sorry for him :rolleyes: :rolleyes: Truly an american tragedy

[Smook A.]

Not really sad since its his fault he got broke. He was spending money like he was billionaire.

[mattvNJ]

oh yeah, poor Antoine. Guy made $110 million dollars playing basketball. We should all feel sorry for him :rolleyes: :rolleyes: Truly an american tragedy

This kinda. The only sad portion of it is these athletes are taking advantage of by friends family etc. With no real formal education in money management its a recipe for disaster. All they see is the amount of 0's on the deal and not the true value of that money and how far it will go.

[Real14]

Not really sad since its his fault he got broke. He was spending money like he was billionaire.
I know he is suffering from his own actions that he committed in the past but you have to feel bad. He let people bring him down, not having common sense to reject their pleas. People like him right now have to learn to not go down drastically like he did. Anybody can go down into bankruptcy at anytime if not cautious.

[Smook A.]

I know he is suffering from his own actions that he committed in the past but you have to feel bad. He let people bring him down, not having common sense to reject their pleas. People like him right now have to learn to not go down drastically like he did. Anybody can go down into bankruptcy at anytime if not cautious.
That's why I don't really feel bad

[Real14]

That's why I don't really feel bad
He just didn't know better and got caught up, that's why I feel bad for him. People makes terrible mistakes in life man. This can happen to anyone. Lets just hope he learned from it.

[BigBoss]

Why do you type like a normal person all of a sudden, bro?
:roll: :roll: :roll:

[Real14]

:roll: :roll: :roll:
What's so amusing to you sir? This is an important topic that people should discuss. It hurts to see anybody go in debt especially the way Antoine did.

[edrick]

This shit makes me sick. You have to be one dumb bitch to blow through $110 million and not go seek financial help before becoming anywhere near broke. If you're dumb with money, go talk to someone who isn't, they exist for a reason.

[I<3NBA]

This shit makes me sick. You have to be one dumb bitch to blow through $110 million and not go seek financial help before becoming anywhere near broke. If you're dumb with money, go talk to someone who isn't, they exist for a reason.
problem is, he probably hired someone to manage his money and that person scammed him too.

when you're financially ignorant, the best thing to do is educate yourself. at least learn the basics.

[step_back]

Don't feel sorry for him at all. He could have sought financial advice and doubled his money instead of living the material life and carelessly spending.

You don't go broke from a few bad investments, you literally have to squander every penny to blow through that cash.

[Real14]

This kinda. The only sad portion of it is these athletes are taking advantage of by friends family etc. With no real formal education in money management its a recipe for disaster. All they see is the amount of 0's on the deal and not the true value of that money and how far it will go.
This is definitely correct. Hard hitting facts that we should abide by to not be na

[DirkNowitzki41]

sucks.

walker and pierce are one of my favorite duos of all time. that comeback against the nets in 2002(i think) was amazing

[Soundwave]

Hard to feel too sorry for him.

It's not that hard to put even $5 million away in a long term stocks/bond portfolio and just leave it alone. If he had done that, he'd be able to live comfortably at least today.

The taxes are killer on that kind of income, guys need to learn that asap. Just because you have $100 million dollar contract doesn't mean you can spend $100 million dollars ... after tax that goes down to $65-70 million.

Now you start buying $10 million houses (which are hard to resell because the market for a home that expensive is small). And you can see where this leads.

[chocolatethunder]

He just didn't know better and got caught up, that's why I feel bad for him. People makes terrible mistakes in life man. This can happen to anyone. Lets just hope he learned from it.
He also gambled like a damn fool. That's no ones fault but his own.

[played0ut]

It should be mandatory for NBA players to take a financial management class.

[Rake2204]

For those who did not watch the video, here's the breakdown of Walker's expenditures they provided.

(In Millions)

Taxes: $55
Homes: $11
Business Ventures: $9.5
Family: $9
Entourage: $8.5
Attorney/Agent: $4.2
Gambling: $4
Relationships: $3.75
Philanthropy: $2.5

[Soundwave]

It should be mandatory for NBA players to take a financial management class.

I think the NBA does now have like a weekend (lol) course for new draftees that covers some of this stuff.

Honestly it should be taught mandatory in high school for everyone. Most people don't know what the f*ck they're doing with their finances, they just don't have that much money to blow.

But I'd say it would be more useful than learning how to play a trumpet or any number of the less useful things taught in school.

[dreamwarrior]

He went through 3 years of college during which I'm sure he took college economics, one of the easier GE courses. He has no excuse.

[wakencdukest]

For those who did not watch the video, here's the breakdown of Walker's expenditures they provided.

(In Millions)

Taxes: $55
Homes: $11

Waste of money, could have done with a 1-2 million dollar home, paid it off and owned it outright, it would never lose value.


Business Ventures: $9.5


Waste of money. If you're Antoine Walker, you have no business trying to venture into any type of business. That goes for 90% of NBA players.


Family: $9


Waste of money. I don't know why he would give his family 9 million. He bought a mansion with 10 bathrooms for his momma, he could have bought her a $200,000 home and it probably would have been like a mansion to her. Taking care of anyone but immediate family is a waste of money.


Entourage: $8.5


Complete waste of money. No one should have an entourage. Fvck everyone once you turn pro. A true friend won't ask for money.


Attorney/Agent: $4.2


Gambling: $4


Complete waste of money. The house always wins. no exceptions.


Relationships: $3.75


Waste of money. That's a lot of money to spend on hoe's who ain't around any more.


Philanthropy: $2.5


Can't blame him for that, could have saved a little of that by donating his time instead of so much money though.

[04mzwach]

He couldn't sell his homes and cars to get above even?

[rmt]

For those who did not watch the video, here's the breakdown of Walker's expenditures they provided.

(In Millions)

Taxes: $55


You left out taxes. A good tax attorney can save boatloads.

[wakencdukest]

You left out taxes. A good tax attorney can save boatloads.



I figured that was something he didn't have much control over, but you're probably right.

[Magic731]

I've never seen such a square head

[moe94]

Why do you type like a normal person all of a sudden, bro?

Fall back off my homie :coleman:

[DMV2]

Besides idiotically spending on entourage, gambling and relationships, I don't see any issues with the rest. He was just too stupid to go the extreme of overspending.

Athletes should invest their money into some form of business so they can have money flowing in after they retire. But they shouldn't be spending nearly $10 million as if they're corporate CEOs. Curt Schilling lost over $50 million on a video game company, so it's just not NBA players making dumb business ventures.

The entourage thing, I just don't understand. That's how MC Hammer went broke. That's how Tyson went broke. Learn from those guys! Just because you roll deep in millions, doesn't mean your crew should be millionaires too.

[deja vu]

This reminds me of George Best saying, "I spent half of my money on booze and women. The rest I wasted."

I can't imagine wasting 100 million in a decade unless I spend it on booze, women and drugs. That amount is too big to piss away just like that.

[ihatetimthomas]

I do not think he is stupid. There is a difference between stupidity and ignorance. It's easy for regular joes who have no shot at having that type of success to say he is stupid for losing all the money. But these are guys who have been on top of the world their entire lives leading up to the nba. There is not a system set in place to teach players how to invest and save money. And he prob alt felt obligated to help all the people who came up with him. Poor decision but none if us have a clue how it is to have that many people rely on you. He made a lot of poor decision, got scammed by people he supposedly trusted and tried to hook up all his fam and friends. He tried to make investments but that clearly failed. He is to blame for all the problems but too many times guys who don't have a clue like to judge

[inclinerator]

tax thing is kinda misleading he made 110 mil but only take home about half of that