Former NBA star Antoine Walker is flat broke. The 12-year NBA veteran made an estimated $110 million during his career. Take some of that money away for taxes and add some for endorsements and we figure Antoine had about $65 million go into his bank account. Despite making the income of a small company Antoine now has creditors breathing down his neck because he's $4.5 million in the hole. He blew threw $70 million or $5.8 million in cash every year.
I won't speculate where the money went because we've all heard this story before… Bentley's, houses, hoes, bling and entourages. If Antoine were smart he would have invested his $65 million in Treasury Bills and lived off the interest. The current T-Bill rate is 4% so Antoine could have spent $2.5 million every year the rest of his life and never even touched his money!
But instead he decided to buy that 3rd Ferrari or that helicopter for his uncle. Now Walker is a broke, 33 year-old man with no college degree. He lived the good life for 12 years and now he's shit-out-of-luck. The only chance Antoine has of avoiding bankruptcy is to hustle young kids in a game of H-O-R-S-E or Around-the-World at local playgrounds. Hopefully he still has that long-range jumper because he has nothing else.
