Latrell Sprewell made over $100 million in his career but is now worth less than Coli dudes

[Malta]

See I liken some professional athletes to lottery winners. A whole bunch of lottery winners end up divorced, broke an unhappy as all hell after they get all that money.

They are unprepared for all the trappings, how to deal with the family and friends, and it ends up ruining them.

That's because they're stupid


You give me $2 million and I never work another day of my life and would be good, I can't even understand how someone loses $100 million, after taxes that's around $46-50 million. Just living off the interest could have your family straight for generations.

 

[baker928]

since when was celebrity networth a reliable site for information

shyt is the media take out of networth information

As soon as i saw that, I immediately disregarded this "report".

 

[ORDER_66]

That's because they're stupid


You give me $2 million and I never work another day of my life and would be good, I can't even understand how someone loses $100 million, after taxes that's around $46-50 million. Just living off the interest could have your family straight for generations.

They get greedy, or just dumb giving everyone a handout thinking the cash is gonna last forever and made no investments that generated money to keep it afloat... no businesses or nothing..

 

[mastermind]

That's because they're stupid


You give me $2 million and I never work another day of my life and would be good, I can't even understand how someone loses $100 million, after taxes that's around $46-50 million. Just living off the interest could have your family straight for generations.

you say this but you dont occupy space with other millionaires on a daily basis

 

[Malta]

you say this but you dont occupy space with other millionaires on a daily basis

I say that because I'm perfectly fine with throwing relationships in the bushes and telling people to kick rocks, I'm frugal and don't even pay for cable TV bruh

 

[Geek Nasty]

Didnt' read the article, but did it say how he lost all his money? Sometimes, these guys get ripped off by their agents and lawyers (like Tim Duncan) and the media blames THEM without mentioning a word about the suits who did the stealing. He coulda been that clown with a garbage bag of ones raining on skrippers too

 

[PS5 Pro]

Nobody should feel bad for this guy. He did this to himself.

You don't understand mental health. You see people go crazy and you just write it off as bad decision making
Sprewell CLEARLY had emotional issues that were not properly diagnosed or was just never diagnosed. He didn't do anything to himself. The league failed to get him the help he desperately needed/still needs

 

[ORDER_66]

Didnt' read the article, but did it say how he lost all his money? Sometimes, these guys get ripped off by their agents and lawyers (like Tim Duncan) and the media blames THEM without mentioning a word about the suits who did the stealing. He coulda been that clown with a garbage bag of ones raining on skrippers too

That's a possibility but they always mention he blew it on crazy shyt, a yacht, two mansions?!?!

How hard is it to manage YOUR OWN MONEY??? it's the self control they be lacking... just because the other team members be balling dont mean you have to.

Oh man i brought me an 18 room mansion,

I brought me a lakehouse it's modest 3 bedroom half an acre, only cost 250G.

Man i brought me a new Ferrari 488, i'm ballin...

That's nice i copped a X6 ony 50k... Leather interior, full warrenty and i have the option to upgrade if i want or sell it?


why you always gotta be a cheap nikka???

 

[feelosofer]

A lot of athletes throw money into bad investments or get reamed by their financial management firms.

 

[///Vega+++]

You don't understand mental health. You see people go crazy and you just write it off as bad decision making
Sprewell CLEARLY had emotional issues that were not properly diagnosed or was just never diagnosed. He didn't do anything to himself. The league failed to get him the help he desperately needed/still needs

are you implying he might have a case if he ever decides to sue them ?











































how low can you go

 

[Deflatedhoopdreams]

Most Americans can't handle money though

Right. A great percentage of Americans are highly in debt and can't save a dime.

"Money don't change you, it makes you more of what you already are"

 

[Deflatedhoopdreams]

That's because they're stupid


You give me $2 million and I never work another day of my life and would be good, I can't even understand how someone loses $100 million, after taxes that's around $46-50 million. Just living off the interest could have your family straight for generations.

Blah blah blah blah. That's what they all say. miss me with that hypothetical shyt.

 

[Rocket Scientist]

Latre-LL

 

[Malta]

Blah blah blah blah. That's what they all say. miss me with that hypothetical shyt.

Not everyone goes broke, just cause you can envision yourself buying gold toilet seat covers and making sure the lawn is watered with Evian doesn't mean everyone else would do the same shyt.




Never touch the principle

 

[Geek Nasty]

That's a possibility but they always mention he blew it on crazy shyt, a yacht, two mansions?!?!

How hard is it to manage YOUR OWN MONEY??? it's the self control they be lacking... just because the other team members be balling dont mean you have to.

Oh man i brought me an 18 room mansion,

I brought me a lakehouse it's modest 3 bedroom half an acre, only cost 250G.

Man i brought me a new Ferrari 488, i'm ballin...

That's nice i copped a X6 ony 50k... Leather interior, full warrenty and i have the option to upgrade if i want or sell it?


why you always gotta be a cheap nikka???

With the amount of money these guys have, it's not like balancing a checkbook. You start hitting all kinds of limits like FDIC caps so right there you're going to have cash spread around. And, if they're diversified that's a lot of stocks and indexes to keep an eye on. The high-risk cut you're going to be watching on a regular basis; way more than a typical person is looking at a mutual fund. I can see having a money manager, but I think a lot of these suits see a Black athlete and immediately start plotting. I see that shyt myself just going in for a regular vehicle loan. Statistics prove it too. If you're Black and go in for financial services, with teh same credit profile you get screwed over by as much as a percent.

Imagine some 25 year old multi-millionaire with pages of legal contracts and some crook plotting to retire by taking a cut right out of your ass. Dude might have been clean his whole life but figures, "hey I can take a couple mill from this dumb n****r while he's up in the club and even if I never work again I'm set." Same shyt happens to musicians Black and White.