Box 430
Princeton
New Jersey
08542
United States
Former NBA Star Antoine Walker loses $110 million - is broke and in debt
Submitted by tcnewsguide
First there was rapper MC Hammer, then former heavyweight boxing champ Mike Tyson, and now former NBA star Antoine Walker loses $110 million dollars and is broke and in debt.
Now you say what?????!!!!! yes its true, how on earth does a wealthy sports individual lose a $110 million dollars in a 12 year period after having a successful NBA career. It turns out Antoine Walker formerly of the Boston Celtics did it fairly easily by not watching how much he spent and pretty much forgetting to invest, one of the first rules of being and staying wealthy.
Even after after subtracting taxes and adding his endorsement deals over that 12 year period, he would still be left with about $60 to $65 million. Lets break down how he spiraled into a miserable pool of debt.
"[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."
Wow, pretty unbelievable. You can't say he wasn't a charitable guy. Such a massive unneccessary entourage to support and lavish spending will send you to the poor house. Former NBA Star Antoine Walker is broke and now owes millions in debt to creditors with no investments to fall back on. A cruel financial lesson to be learned about being broke and in debt.
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Comments
This idiot basketball player Antoine Walker was dating a girl name evelyn lozada. I'm sure she's not too happy about having to downscale from her high maintenance lifestyle.