Allen Iverson is a retired professional basketball player from the United States with a net worth of $1 million. Allen is regarded as one of the all-time best basketball players. After earning more than $200 million in pay and endorsements during his career, Allen’s finances have been severely impacted by overspending, a divorce, and other personal issues. We go over Allen’s financial woes, legal issues, and the renowned Reebok trust fund in the lines below.
Allen Iverson was born in Hampton, Virginia, on June 7, 1975, to Ann Iverson, a 15-year-old single mother. Allen Broughton, his father, abandoned the family when he was a child. He grew up in Hampton’s projects, where he was surrounded by drugs and crime. He was well-liked by the youngsters in the neighborhood, and his boyhood pals often portrayed him as a protector of the younger ones. Iverson started as the quarterback for the football squad at Bethel High School. Iverson was a member of the basketball team as well.
What Is Allen Iverson’s Net Worth?
Allen Iverson, a former NBA basketball player from the United States, has a net worth of $1 million. Allen is largely regarded as one of the best basketball players to ever grace the court. Despite his career earnings of more than $200 million in salary and endorsements, Allen’s fortune has suffered due to overspending, a divorce, and other life upheavals. The following paragraphs discuss Allen’s financial troubles, legal woes, and the infamous Reebok trust fund.
|Net Worth:||$1 Million|
|Date of Birth:||Jun 7, 1975 (47 years old)|
|Height:||6 ft (1.83 m)|
|Profession:||Basketball player, Rapper, Athlete|
|Nationality:||United States of America|
Before being picked by the Philadelphia 76ers in 1996, he briefly attended Georgetown University. He went on to become an 11-time NBA all-star and one of the all-time greatest point guards. On and off the court, Iverson was a divisive figure. Georgetown University head coach John Thompson initially recruited him straight from a Virginia jail cell.
Iverson had been arrested and risked a lengthy prison sentence for his role in a bar fight. Thompson stepped in and persuaded a judge to release Allen into his custody in exchange for Iverson’s pledge to attend Georgetown, play basketball, and graduate. Against Thompson’s desires, Iverson left Georgetown early and went on to have a great NBA career as an all-star point guard. With the 76ers in 1999, Iverson earned his first trip to the NBA Playoffs.
He started all 10 postseason games before falling in the second round to the Indian Pacers. Allen signed a six-year, $70 million contract deal before the start of the next season. The 76ers attempted to move Iverson in the 2000 offseason after he had multiple disagreements with coach Larry Brown, but the deal fell through. Iverson guided the squad to the finals in 2001. He was named Most Valuable Player in the same year.
Allen was a ten-year member of the franchise before being traded to the Denver Nuggets, where he spent two seasons. After that, he played for the Detroit Pistons and Memphis Grizzlies for a year before returning to the 76ers.
Iverson was widely spurned by American NBA teams near the conclusion of his career, forcing him to play in the Turkish Basketball League and the Eurocup. In 2013, he announced his retirement from basketball.
Between 1998 and 2005, he was the NBA’s leading scorer four times and owns the record for the second-highest per-game scoring average behind Michael Jordan.
Allen Iverson Career Earnings and Salary
- 1996-97 Philadelphia 76ers $2.2 million
- 1997-98 Philadelphia 76ers $3.1 million
- 1998-99 Philadelphia 76ers $3.5 million
- 1999-00 Philadelphia 76ers $9 million
- 2000-01 Philadelphia 76ers $10.1 million
- 2001-02 Philadelphia 76ers $11.25 million
- 2002-03 Philadelphia 76ers $12.3 million
- 2003-04 Philadelphia 76ers $13.5 million
- 2004-05 Philadelphia 76ers $14.6 million
- 2005-06 Philadelphia 76ers $16.4 million
- 2006-07 Denver Nuggets NBA $17.1 million
- 2007-08 Denver Nuggets NBA $19 million
- 2008-09 Detroit Pistons NBA $20.8 million
- 2009-10 Philadelphia 76ers $1.029 million
- 2009-10 Memphis Grizzlies $161 thousand
Total Career Earnings: $155 million
National Team Career:
In 1995, Iverson represented the United States at the World University Games in Japan. Ray Allen and Tim Duncan were also on the team. In terms of scoring, steals, and assists, he led the USA squad. He was instrumental in the team’s undefeated record against the host country Japan, which resulted in a gold medal. He was named to Team USA for the 2003 FIBA Americas Olympic Qualifying event in Puerto Rico 2003. They won the gold medal and had an undefeated record of 10-0.
The squad qualified for the 2004 Olympic Games. Allen started each of the eight games in which he appeared. On August 25, the United States defeated Canada 111-71 to qualify for the Olympics. Allen finished tied for 10th in scoring, fourth in steals, seventh in assists, and ninth in field goal percentage at the end of the tournament. Due to a sprained thumb, Iverson was forced to miss the USA’s final two games. On April 29, 2003, he was named to the 2003 USA Senior National Team.
Is Allen Iverson Broke?
A judge in Georgia seized Allen Iverson’s bank accounts on February 14th, 2012, after the former NBA player claimed he was broke. Given that Iverson earned about $155 million in NBA earnings alone during his playing career, this came as a surprise. Allen’s endorsement and merchandising deals, which are expected to net him an additional $60 million or more, are not included in this figure.
Iverson’s financial problems are unfortunately all too typical among professional athletes. He was claimed to have had a large entourage of up to 50 people around him at times. It was an extravagant gift to his mother, whom he pampered with autos, diamonds, and vacations at five-star hotels. Woody Allen looks to be unable to meet his financial responsibilities in the wake of a court order to pay a Georgia jeweler $900,000.
Iverson gave a Georgia judge a full accounting of his income and spending for the month of December 2012, which came to $62,500 per month. Mortgages and other loan repayments took up a significant portion of the $360k. Not only that, but Iverson claims to spend $10,000 a month on apparel, $10,000 a month on restaurants/entertainment, and another $10,000 on food.
Iverson was arrested in 1997 for narcotics possession and concealment of a weapon. It all began in 2002 when he and his then-wife Tawant had an altercation at home. He threw her out of the house and threatened two men with a pistol while on the lookout for her. His sanctions included no competition and community service.
Following a win over the Charlotte Bobcats in December 2006, he paid a visit to the Trump Taj Mahal. He discovered he had been shorted $10,000 after winning a game of 3 Card Stud.
When Iverson noticed the error, he refused to return the chips to the dealer, and a conflict arose between him and the casino management. As a result, he was thrown out of the building and told not to return. In the same year, a nightclub guest was allegedly assaulted by Iverson’s security.
The man also suffered an eardrum rupture and a concussion, in addition to a torn rotator cuff and a concussion. After suing Iverson, he was awarded $260,000. In 2009, an Ohio man sued Iverson for $2.5 million in damages after a fight with the basketball player’s security guard in a Detroit club.
In 2013, Iverson’s ex-wife accused him of abducting their children. She was eventually able to get the charge dropped.
When Allen Iverson and Tawant Turner were sixteen years old, they began dating. Their wedding took place at the Mansion on Main Street in Voorhees, New Jersey. They have five children in all. Sawant filed for divorce in March of 2010. Despite legally splitting in 2013, the couple reconciled just one month after their divorce was finalized in 2014.
Under the alias Jewelz, Iverson recorded a track called “40 Bars” in 2000. He was unable to release the record due to the inflammatory lyrics. He did, however, agree to change the lyrics, but the CD was never released.