Posted on 10/28/2009 11:25:12 AM PDT by Michael.SF.
In 12 years, Antoine Walker(notes) made more than $110 million playing professional basketball moderately well. Take away taxes, throw in some adidas endorsement money and a "NBA Live 99" cover, and he's left with, what, $60-to-65 million?
Whatever the details, it was a big chunk of change, which, amazingly, wasn't enough.
"[Walker] liked to move in an outsized entourage; his mother estimates that, during his playing days, he was supporting 70 friends and family members in one way or another. And speaking of his mother, he built her a mansion in the Chicago suburbs, complete with an indoor pool, 10 bathrooms, and a full-size basketball court. [...]
Living at the Bishops Forest condominium complex in Waltham during the Celtics season, Walker turned the pavement surrounding his home into a virtual luxury car lot — two Bentleys, two Mercedes, a Range Rover, a Cadillac Escalade, a bright red Hummer. Often, the vehicles were tricked out with custom paint jobs, rims, and sound systems at considerable added expense. He also collected top-line watches — Rolexes and diamond-encrusted Cartiers."
(Excerpt) Read more at sports.yahoo.com ...
Hmm, I’d need about 85k to pay off the house.
Maybe another 20k to pay off fiancee’s student loans. Another 20k for her truck.
To not have to work again, I’d need about 600k at 5 percent a year. So I’d do with 750k.
I read one time that most family fortunes are squandered within three generations.
Michael Jordan —”Republicans buy sneakers too. .”
Or in the case of VP Joe Biden, his father was able to do it in 1.
Not to go all horological geek on the writer but those are not "top-line watches". Those are blinged out overpriced middle of the road watches. Not that I would expect an NBA player to wear a Patek Philippe or a Vacheron Constantin or a Blancpain however...
Look at how much it is costing taxpayers to support Obama and his entourage of 100 million.
“Garth Brooks said that his grandchildren’s grandchildren couldn’t spend all the money he made.”
Maybe he can adopt Antoine!
My grandmother’s grandfather once owned half of a small city. After my grandfather died in 1939 at age 39, she remarried well or she would have had to move in with her mother.
It was a nice ride while it lasted, right Ant-oine?
A $ 100 mil just doesn’t spend like it used to I guess.
Maybe you can get a bailout from Barama?
or has it locked up in an ironclad trust.
Because it makes my heart smile.
I don’t believe that a trust can be set up for the benefit of those not yet born. The benificaries have to be alive at the time of the bequest or establishment of the trust.
If one is so stupid as to not know having a 70 person entourage isn’t good idea, one derserves to go broke. Being irresponsible is ingrained in some people’s brains.
I am not concrete on that answer either.
But in the case of Garth Brooks, his already born children are going to get it, and if Garth dies before grandchildren are born, the parents can easily add them, and it continues on down the line.
Poor baby.
i'm available.
“Entourage” is a French word; it means “bunch of parasites.” OK, I made that up, but it is the true meaning.
I’m not surprised. The whole basketball culture puts no emphasis on education from the get-go. Back in Antoine’s day you didn’t even need to get a high school diploma, you just went straight to the NBA. Or now, you can be a “rent-a-player” for one year at Faked Transcript University, then go to the NBA. Outside of dunking a basketball, a skill which has no economic viability after age 33, they have no skill or knowledge.
This doesn’t surprise me, and no, it’s NOT SAD. Fools and their money are soon parted and Antoine Walker is a fool. Period.
Yep, fun babies suddenly aren’t very fun anymore.
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