Basketball
It takes years to earns wealth but doesn't need a minute to spend that all you earned. The former no. 1 NBA draft picks and Golden State power forward Joe Smith has gone through the same situation. He is now broke after finishing $61 million in his 16-year-NBA-career.
Smith is reported to have $157,000 left now.
However, he will have another opportunity to uplift his living as he is reported to be getting help from former MLB star Alex Rodriguez known by his nickname A-Rod. The two former stars are set to make their reality TV appearance on CNBC called Back in the Game which will premiere at 10 p.m. March 13.
Smith will be paired with Rodriguez as a mentor to athletes in an hourlong program which will help him maintain his bank balance. On the trailer released, it was reported that Smith now has only $3000 left in his account.
"A lot of people think once you sign that contract, you're just an automatic millionaire", Smith tells Rodriguez on Back in the Game.
Joe Smit was the no. 1 overall draft pick by Warriors in the 1995 draft pick after playing for the University of Maryland. He was also the College Player of the Year in 1995. He was picked ahead of several other stars such as Rasheed Wallace, Kevin Garnett, and Damon Stoudamire.
The power forward was also named to 1995–96 All-Rookie team and went on to play for 12 teams in his 16 years career.
In 2014, in a story by TMZ, Smith reported that his ex-girlfriend, “Love & Hip Hollywood” star Moniece Slaughter took his huge amount of money.
Joe Smith earned $61 million in his career but actually received $18 million after taxes, agent fees, and management fees. He had houses in 12 different cities during his playing career. Smith also had a collection of several luxury cars like Chevrolet Corvette, Mercedes-Benz SL 500, Mercedez-Benz S 600, Bentley, Porsche Panamera and two Range Rovers.
