Allen Iverson Net Worth
Allen Iverson has an estimated net worth of $1 million. Basketball Hall of Famer Allen Iverson was known for his prolific scoring and rebellious style during his 14-year NBA career. He earns most of his income from his career as a basketball player and brand endorsements. But because of excessive spending, legal issues, and a divorce, he lost a lot of money.
Allen Iverson overcame early legal issues to become a Georgetown basketball star and the first overall pick in the 1996 NBA Draft. Despite his small stature, Iverson was a tremendous scorer who was named NBA MVP in 2001 and earned 11 All-Star selections, but he was also chastised for selfish play and several off-the-court transgressions. In 2016, he was inducted into the Pro Basketball Hall of Fame after retiring from the game in 2013.
To calculate the net worth of Allen Iverson, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$1 Million|
|Monthly Salary:||$15 Million+|
|Annual Income:||$200 Million|
|Source of Wealth:||Basketball player, Rapper, Athlete|
Ann Iverson gave birth to Allen Ezail Iverson on June 7, 1975, in Hampton, Virginia. Ann, a single teen mother, moved with her infant son to the Newport News, Virginia, apartment of new boyfriend Michael Freeman, who became Iverson’s father figure. However, after Freeman was arrested for drug dealing in 1991, Iverson and his sisters were forced to endure deplorable living conditions at home.
Despite the difficulties, Iverson proved to be a gifted athlete. As a junior, he led Bethel High School to state championships in basketball and football, earning AP high school athlete of the year honors in both sports. His promise was nearly derailed, however, when he was involved in a bowling alley brawl in February 1993. Despite conflicting accounts of what happened — Iverson claimed he left before the fighting began — he was found guilty on three felony counts and sentenced to 15 years in prison.
Iverson was released after serving four months on conditional clemency by Virginia Governor L. Douglas Wilder, and he earned the opportunity to play for Georgetown University men’s basketball coach John Thompson.
Thompson’s faith was rewarded by Iverson’s stellar play, as he averaged 22.9 points per game and twice won the conference defensive player of the year award. As a sophomore, he led the Hoyas to the NCAA Tournament Elite 8 and was named a First-Team All American. The Philadelphia 76ers selected him with the first overall pick in the 1996 NBA Draft.
NBA Stardom and Criticism
Iverson quickly established himself as one of the NBA’s must-see performers. He blew past defenders with blinding speed and fearlessly attacked the much larger players guarding the basket despite being only 6 feet tall. He was named NBA Rookie of the Year after averaging 23.5 points and more than two steals per game.
He also became one of the most divisive players in the league. Critics pointed to his missed shots and turnovers, and wondered why he wasn’t passing the ball to his teammates as a point guard. To some, he became a symbol of everything that was wrong with the NBA, his selfish play signaling the end of fundamental basketball and his tattoos and cornrows celebrating the league’s embrace of street culture. Iverson embraced that image by releasing the rap single “40 Bars” in 2000, and his arrests in 1997, on misdemeanor marijuana and gun charges, and in 2002, on more serious gun charges, bolstered it (that were eventually dropped).
But there was no denying the incredible talent. In 1998-99, Iverson led the league in scoring for the first time, and he was named to his first All-Star team the following year. He averaged an NBA-best 31.1 points per game as a shooting guard and was named the league’s MVP in 2000-01, capping the season with a spirited effort in the NBA Finals against the powerful Los Angeles Lakers. He signed a lifetime contract with Reebok at the end of the year.
Iverson continued to astound and irritate his fans. In 2001-02, he led the league in scoring and steals for the second consecutive season before concluding the season with a famous rant in which he appeared to mock the importance of practice.
He won another scoring title in 2004-05 and averaged a career-high 33.0 points per game the following year, but he was also sued for failing to stop his bodyguard from assaulting another man, and was later ordered to pay $260,000 in damages.
In December 2006, Iverson was traded to the Denver Nuggets, and then to the Detroit Pistons in November 2008. He spent a brief time with the Memphis Grizzlies before returning to Philadelphia in January 2010, where he played in his final NBA game the following month. Over his 14 seasons, he was an 11-time All-Star, leading the league in scoring four times and steals three times, and finishing with an impressive 26.7 point per game average.
Post-NBA Highs and Lows
Iverson tried to carry on his basketball career abroad, but he only played 10 games with the Turkish team Besiktas before needing surgery on his leg in early 2011. He later declined an invitation to play in a professional indoor soccer league and to sign with the Texas Legends, an NBA affiliate of the Dallas Mavericks. In October 2013, he made his retirement fully known.
Iverson was apparently in serious financial trouble at the same time. Iverson lost two residences to foreclosure by early 2013 after a judge seized his bank account in January 2012 to settle unpaid obligations to a jeweler. Around that time, he and his wife Tawant to also signed a divorce agreement.
The post-retirement news wasn’t all awful, either. The 76ers retired the former MVP’s number 3 in honor of him in March 2014. His status as one of the most dynamic players and prolific scorers in the history of the game was cemented when he was honored with induction into the Pro Basketball Hall of Fame two years later.
Related Lists of Celebrities’ Net Worth
- Businessmen Net Worth
- Actors Net Worth
- Authors Net Worth
- Athletes Net Worth
- Singers Net Worth
- Rappers Net Worth
- Politicians Net Worth
Who Are The 30 Richest People In The World?
The list of the world’s richest people can change from year to year, depending on their current net worth and financial performance. Here is the current list of the 30 richest people in the world, based on the latest Forbes list, and some interesting facts about each of them.