Author Topic: NBA player made $108 million, bankrupt in 2 years of retirement  (Read 3775 times)

Submissionfytr

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money.cnn.com/2015/07/24/investing/antoine-walker-nba-bankruptcy/index.html

Guess the race?  ;D

ritch

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #1 on: July 25, 2015, 01:31:00 PM »
Wow, but the whole bullshit "baller" concept is probably the cause to this... AiN't balling now, are you sucker???
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Hulkotron

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #2 on: July 25, 2015, 01:31:40 PM »
Lack of father figure

240 is Back

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #3 on: July 25, 2015, 01:37:57 PM »
I'm employee #8.  I make baskets.

2Thick

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #4 on: July 25, 2015, 01:38:08 PM »
He's still rich - worth tens of millions or more... gots his black card, rolie, and humma!

He's just hiding it all overseas from a baby moma...

He was makin' it rain thousands at da strip club last night - he's still ballin' yo!  

































::)
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SquatsRule

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #5 on: July 25, 2015, 02:31:50 PM »
He lost a big chunk of it gambling. He was one of my favorite UK players in the nineties. These guys have no clue how to handle their money.
S

Walter Sobchak

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #6 on: July 25, 2015, 02:51:18 PM »
Black person from Chicago....everything he has done wrong should automatically be forgiven.

The_Punisher

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #7 on: July 25, 2015, 02:56:59 PM »
in other News, the Chicago Bulls just won their 6th NBA Championship

Dave D

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #8 on: July 25, 2015, 09:31:16 PM »
If Walker was about 4 inches taller.........

He'd be a prime candidate  to date Brooke Hogan.

ritch

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #9 on: July 25, 2015, 09:34:02 PM »
in other News, the Chicago Bulls just won their 6th NBA Championship

You actually made me go to google to check that out.
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The True Adonis

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #10 on: July 25, 2015, 09:41:02 PM »
A black, after hard labour through the day, will be induced by the slightest amusements to sit up till midnight, or later, though knowing he must be out with the first dawn of the morning. They are at least as brave, and more adventuresome. But this may perhaps proceed from a want of forethought, which prevents their seeing a danger till it be present.-Thomas Jefferson on Blacks

forillagorilla

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #11 on: July 25, 2015, 09:56:06 PM »
Most people are unable to handle wealth. Doesnt matter the race. Almost all lottery winners - even those that hit the 100 million and up jackpots - are literally broke within 5 years.
Humans will always become exactly what they believe they are.

Walter Sobchak

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #12 on: July 25, 2015, 10:00:35 PM »
Most people are unable to handle wealth. Doesnt matter the race. Almost all lottery winners - even those that hit the 100 million and up jackpots - are literally broke within 5 years.
Humans will always become exactly what they believe they are.

No.

You will never see Tim Tebow on an episode of Basketball Wives.

Bevo

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #13 on: July 25, 2015, 10:04:05 PM »
I remember seeing this dude in Vegas gambling with a ugly ass white hoe with him  ;D back in 07

SF1900

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #14 on: July 25, 2015, 10:16:01 PM »
How he lost his money:

"I created a very expensive lifestyle. That's how you lose your wealth real bad at the beginning."

His family had little while he grew up in Chicago. Now 38, he told CNNMoney that he had a hard time saying no to family members and childhood friends when they asked for money.

"I gave them whatever they wanted and spoiled them. You can't do that," Walker said. "It ended up being an open ATM throughout my career."

Walker did try to make investments and launched his own real estate firm, which imploded during the 2008 recession.

Walker has slowly climbed his way out of bankruptcy and hopes young professional athletes learn from his cautionary tale. He offered two points of advice: Learn how to say no to friends and family – and use the world a lot – and "live life to the fullest", but think about the future.
X

gmflex

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #15 on: July 25, 2015, 10:59:22 PM »
Biggest mistake is when people come into a lot wealth / money..
They try to support their whole family.... and start listening too quick
Rich schemes cookout by friends and family that never pay you back..

Powerlift66

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #16 on: July 26, 2015, 03:58:48 AM »

Kwon_2

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #17 on: July 26, 2015, 05:02:31 AM »
I remember seeing this dude in Vegas gambling with a ugly ass white hoe with him  ;D back in 07

Gambling with Hoes is a formula for econonomical destruction.

After becoming intoxicated , you'd never know how much he'd waste on the tables.

oldtimer1

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #18 on: July 26, 2015, 05:35:40 AM »
Same story in the NFL but worst. Guys become pro's for three years and then their career is over. Suddenly they have no means to pay for the two fantastic houses they bought and all the cars are sold for a third of the price they paid for them. This get repeated time and time again.

They are essentially kids with a big check. They need a father figure with a little common sense to tell them how to invest and how to not blow their money away.

Mr.1derful

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #19 on: July 26, 2015, 05:45:40 AM »
money.cnn.com/2015/07/24/investing/antoine-walker-nba-bankruptcy/index.html

Guess the race?  ;D

$108 million, that's 8 million more than you need to date Brooke Hogan, according to Hulk.

The_Punisher

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #20 on: July 26, 2015, 10:01:00 AM »
hahahahah...good one

Skylge

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #21 on: July 26, 2015, 10:41:31 AM »
Blacks usually have a lot of homies/posse/hangarounds surrounding them. Such parasites cost millions and bring zero. Too bad many wealthy blacks can't figure that out. Apparently too stupid to google?

The True Adonis

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #22 on: July 26, 2015, 11:27:56 AM »
Same story in the NFL but worst. Guys become pro's for three years and then their career is over. Suddenly they have no means to pay for the two fantastic houses they bought and all the cars are sold for a third of the price they paid for them. This get repeated time and time again.

They are essentially kids with a big check. They need a father figure with a little common sense to tell them how to invest and how to not blow their money away.
I used to work out with one of those.  Three years in the NFL with nothing but a broken down Lincoln Navigator to show for it and some clothes.  No house, no stocks, no investments, nothing.  He said they would all go to South America or whatever and they would waste thousands and thousands of dollars in clubs.  I asked why, and he said none of us ever thought about any of it and that they were all trying to outdo each other.  They figured they would just get another NFL paycheck after they spent the last one.

He used to ride around with his old helmets and gear in that Navigator.  Four years after he was done playing, working at a gym.  Sad stuff. 

Leatherneck

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #23 on: July 26, 2015, 02:04:10 PM »
Walker built a 9 bedroom 9 bathroom house in Tinley Park, IL that he lost. The neighborhood is full awesome homes whoever got it as a foreclosure got a great deal.

2Thick

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Re: NBA player made $108 million, bankrupt in 2 years of retirement
« Reply #24 on: July 26, 2015, 02:40:55 PM »
I knew a girl in the Houston area who worked in a bank that was the bank of choice of a very well known pro footballer. She said he would come in every week and cash his weekly paycheck, and walk out of the bank with tens of thousands of dollars in his pockets. Every week. Never deposited a cent.
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