Giannis Antetokounmpo of the Milwaukee Bucks recently got the bag with his supermax contract signing of a $228.2 million max extension spread over 5 years. It is the biggest signing to date. From a literal child-vendor on the streets of Greece to the biggest and fattest contract ever in the NBA, this man knows no boundaries when it comes to the sport. Being a two-time MVP homegrown from draft to being the face of the franchise, Giannis only recently became a new father. When asked where and how he would spend his money, he admitted to sending so much of his rookie salary back to Greece that he ended up simply jogging his way to the practice court. In a Sports Illustrated Interview with Chris Mannix, then-rookie Giannis admitted to not having enough for a cab fare after sending most of his money to his family in Greece. Now, nothing makes him happier than to share this newfound wealth with his family.
After hearing this inspirational story, many people can’t help but wonder where and how most of the NBA Superstars spent their money after getting the bag and taking down the house. An average NBA player spends around $42,500 a month. Surprisingly, a fraction of this amount goes more to clothing expenses (11%) compared to charitable contributions (7%) However, franchise and superstar players are notoriously known for blowing by their money with different vices. But almost always there are the exceptional few. What are the well known good money spending habits of these players and how can we learn from them?
Michael Jordan
His Airness Himself, Michael GOAT Jordan (Greatest of All Time) is almost two decades removed from playing an official basketball game. Ever since his last game in 2003, MJ is considered by most talking heads as the greatest of all time. However, his Majesty does not come without any flaws. During his entire stint in the NBA, Michael is notorious for being a heavy gambler and spender. There were rumors about having his entire mid-career break and semi-retirement was really about his obscene gambling habits. He recently denied the rumors in the Last Dance Netflix documentary. But the rumors remained after all these years for an answer to be necessitated.
Nevertheless, the premiere superstar has redeemed himself from such an image. Sitting at a net worth of $1.6 billion, Michael Jordan has been quietly spending so much on charity and different causes he believes in. He has spent at least $3 million on hurricane relief and at least $30 million the last 5 years in activist and social causes. He recently also donated $2 million to food banks over the pandemic. Even if considered the richest athlete in the world with all the brand and shoe deals, His Airness never forgets where he came from.
LeBron James
Only recently, a video of LeBron James surfaced waving to his fans through a black Porsche 918 with only a little bit of window tinting. Known for his extreme thrift in spending and role-model attitude, this random clip of LeBron is one of the rare instances he flaunts his wealth. He is so thrifty that he doesn’t even pay for general doctor services outside what the team can provide. Although not yet known and declared, LeBron James is allegedly worth over $1 billion. He is forecasted to surpass Jordan in the next few years after his retirement.
After spending the first half of his life in poverty with his single mom, LeBron is reportedly famous for leading a frugal lifestyle despite having multiple sports cars (his only known vice). LeBron never forgets to give back to his community, and never lets his fame and status get to his head. He made headlines recently for building the I Promise School for his Akron, Ohio hometown where 1,000 scholars will be made to attend. In a previous donation, he gave $2.5 million to the National Museum of African American Museum. He also committed to sponsoring Ohio families to help them through the pandemic.
It is undeniable that the two best players ever have a boatload of money. However, despite all that wealth, they never forget to stay grounded.
