Joe Smith, a retired American professional basketball player, has had a noteworthy career in the NBA. But despite his success on the court, he faced significant financial challenges after leaving the league.
Career Earnings
During his time in the NBA from 1995 to 2011, Joe Smith amassed a substantial fortune. Notably, he earned a total of $61 million from his NBA salary.
But after taxes and various professional fees, his net earnings from his 16-year NBA career amounted to approximately $20 million. Despite this substantial income, Joe Smith found himself facing financial difficulties after leaving the league.
Financial Problems
Unfortunately, Joe Smith's financial woes became apparent after his departure from professional basketball. By March 2018, he was reported to be living "paycheck-to-paycheck" and working to pay down $160,000 worth of debt.
A combination of factors contributed to his financial struggles, including taxes, agent and management fees, reckless spending, bad investments, and a costly divorce.
On top of that, the purchase and subsequent loss of multiple homes, a collection of luxury cars, and a divorce significantly impacted his financial standing.
College Career
Before entering the NBA, Joe Smith made a name for himself at the University of Maryland. His exceptional talent led to the Golden State Warriors selecting him with the first overall pick in the 1995 NBA Draft. This marked the beginning of his professional basketball career.
NBA Career
Throughout his NBA career, Joe Smith played for several teams, including the Golden State Warriors, Philadelphia 76ers, Minnesota Timberwolves, Detroit Pistons, Milwaukee Bucks, Denver Nuggets, Chicago Bulls, Cleveland Cavaliers, Oklahoma City Thunder, Atlanta Hawks, New Jersey Nets, and the Los Angeles Lakers.
He concluded his lengthy career as a journeyman with impressive statistics, including 11,208 points, 6,575 rebounds, and 868 blocks. Notably, he is tied for the most franchises played for during an NBA career, having represented 12 teams in total.
Personal Life
Joe Smith's personal life has also contributed to his financial journey. His first marriage resulted in three children before ending in divorce in 2011. He later married Kisha Chavis in 2018.
In October 2023, Kisha uploaded a video revealing Joe's reaction to her decision to create an OnlyFans account, which became a point of contention between the couple.
Joe Smith's Current Net Worth
Despite facing financial challenges, Joe Smith's current net worth stands at $100 thousand. This significant decrease from his previous earnings highlights the impact of his financial struggles and the decisions that led to his current financial position.
Ultimately, Joe Smith's journey from a successful NBA career to financial hardships serves as a cautionary tale for athletes and individuals alike.
Despite his substantial earnings during his time in the league, a series of financial missteps and personal decisions led to a drastic reduction in his net worth. His story provides valuable lessons about financial management and the importance of making prudent decisions, especially in the face of significant earnings.
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