The All-star game MVP awardee and the professional basketball player Allen Iverson has a net worth of $1 million as of July 2022. It may sound quite unusual considering the fact that his overall earning from NBA career alone is over $200 million. Well, this is because he saw an exponential fall in his wealth because of his extravagant spending habits.
Besides, the NBA all-star was one of the most celebrated players of his time. His exponential rise in the industry as well as his plummet in terms of his financial status make him one of the most interesting celebrities in the world. Let's find out about his financial stature at present.
Allen Iverson is currently estimated to have the net worth of only $1 million, several verified sources claim.
He mainly earned as a professional basketball player before retirement. Now he mostly earns from the endorsement deals and partnership.
According to a verified source PayScale, an average salary of a basketball player in the United States is estimated to be around $85 thousand. As a matter of fact, the actual salary typically ranges in between $60 thousand to $108 thousand.
The retired basketball player earned quite a lot of money throughout his career. Allen Iverson’s net worth and salaries details throughout the years from 1996 to 2010 are listed below:
As of 2019, the former basketball player has around $1 million as his net worth. After he retired on 30 October 2013, he signed as a coach, player, and captain on 3’s Company from which he surely packed some money to boost his net worth.
Over his 14 years long career and estimated earnings from the 14 seasons he played, Allen earned from around $150 million to $250 million.
Apart from the professional sports career he still earns from the brand endorsement deals and NBA pension to be around $8,000.
Moreover, an online source estimates that the American coach cum player earns in between $11,745 to $19,575 per post from Instagram.
Once when he was filed for the case by the Georgian jewel in 2012, Iverson told the judge that his monthly income is only $62,500.
A source informed that his bank account had a sum of $32 million at the age of 55.
Allen Iverson Expenses, Assets, And Properties: House And Cars
Iverson is living a lavish life in his Lakefront house worth $2.6 million. The estate features six bedrooms, six bathrooms, a safe room, an oversized wine cellar, and a home theatre.
Furthermore, Iverson also purchased 10,445 sq. ft. house consisting of six bedrooms and six bathrooms house in Denver, Colorado. The house cost him $3.875 million, and later, reported that it has been sold for about $2.85 million. Another mansion in Villanova, Philadelphia was sold in 2010.
Similarly, in Buell Mansion subdivision, Cherry Hills, Colorado, he bought a 6,848 square foot residence, having 6 bedrooms and 9 bathrooms.
Moreover, he also owns sports car including Bentley GT ($700,000), Hummer H1 Alpha HX ($129,399) and Cadillac Escalade ($94,000).
While many people are known for their fame and fortune, the Hall of Famer is also known for his wealth. Not for earning it but for losing and spending it. Way back when he had staggering net worth he allegedly traveled much and showered friends and family with cars, jewellery, houses, and expensive vacation packages.
Many people say that his bankruptcy was very much due to his endless spending habit. You surely would search for your car if you forget the place where you parked but not in the case of Iverson. Once when he went to the airport, he forgot where he parked his car so apparently, he ditched the car and bought a brand new one.
Allen’s financial situation downgraded and a situation came to light in 2012 where he had to pay $900,000 to Georgian jeweller. The jeweller filed a case when Allen was not able to pay him back. For the settlement of the case, he had to list his expense.
Well, you think there’s not much to spend on? Then think again, the retired basketball player also has done the health insurance and pays the premium monthly.
Allen Iverson was born on 7 June 1975 in Hampton, Virginia. He was married to Tawanna Turner on 3 August 2001.
The pair dated for ten years before marrying. The couple has five children; Tiaura Iverson, Allen Iverson II, Isaiah Rahsaan Iverson, Dream Alijha Iverson, and Messiah Lauren Iverson.
Previously he was in a relationship with DJ Lisa Natson, Shawntae Harris, Carmen Bryan, and Foxy Brown.