Lebron23
11-24-2023, 10:21 PM
From $61,000,000 in career earnings to $3,000 just like that 😨
Joe Smith was the NBA’s top overall pick in 1995. He bounced around the league—12 teams to be exact—throughout a 16-year career.
He retired from the NBA in 2011. Seven years later, Smith revealed that he was living paycheck-to-paycheck.
Here’s the thing, out of the $61,000,000, only $18,000,000 found its way into his pockets due to taxes, agent fees, and management fees.
But the bigger concerns were Smith’s spending habits and a costly divorce.
Playing for 12 teams looked trivial. Unfortunately, every move entailed new house purchases, and he was forced to lose money trying to sell these properties each time he got traded.
Have we mentioned his collection of luxury vehicles?
Joe Smith isn’t the first former NBA player to endure such a fall. Unfortunately, he’s probably not going to be the last.
Joe Smith was the NBA’s top overall pick in 1995. He bounced around the league—12 teams to be exact—throughout a 16-year career.
He retired from the NBA in 2011. Seven years later, Smith revealed that he was living paycheck-to-paycheck.
Here’s the thing, out of the $61,000,000, only $18,000,000 found its way into his pockets due to taxes, agent fees, and management fees.
But the bigger concerns were Smith’s spending habits and a costly divorce.
Playing for 12 teams looked trivial. Unfortunately, every move entailed new house purchases, and he was forced to lose money trying to sell these properties each time he got traded.
Have we mentioned his collection of luxury vehicles?
Joe Smith isn’t the first former NBA player to endure such a fall. Unfortunately, he’s probably not going to be the last.