Being drafted into the NBA marks a significant change in the finances of anyone. The assurance of substantial wealth through salaries or endorsements is guaranteed. Although the pay structure is better now, players of the past didn’t also suffer as things were a lot easier, economically in their time.
Charles Barkley is one of the most recognizable faces in the history of the NBA. He had a successful career as a player, even winning the coveted league’s MVP during the 1993 season. And for someone who had been in a league that’s literally ‘flowing with milk and honey’, it’d be expected that he would have accumulated a substantial amount of wealth. Especially, to cater to his needs and those of his family and friends.
In Chuck’s case, every cloud surely has a silver lining. His wealth made him responsible for the people in his life. And he was warned or some might say advised against being too generous by the late Janet Hill, mother of NBA legend Grant Hill, who once dated Jada Pinkett-Smith. He shared this story as a guest on the podcast, “All the Smoke.” He said,
TV saved me because I would have been broke probably because we as Black people, for some reason, we feel this need to take care of everybody in our family. Grant Hill’s mom, one of the greatest ladies I’ve ever met in my life, gave me the best advice, and I never listened to it.
He further added,
She said, ‘Charles, sit your ass down. Let me tell you this: Do not take care of your family and all your friends. Do not do that. You’re gonna end up broke. It’s going to ruin every relationship you’ve ever had.’ If you start giving your family and friends money, they’re never gonna stop.
She cautioned that over-reliance on him by his family members would result in them hating him the day he decided to say no to their demands. Although Barkley wished he had taken the advice, he just couldn’t stop taking care of the people he loved.
Charles Barkley reveals the sacrifices he made for the sake of friendship
Charles Barkley has an estimated net worth of $60 million but it wasn’t always the case as he came from a humble and modest background. He knows a thing or two about hardships that’s why he found it easy to bail his friends in their times of need.
Charles Barkley (Via: Sports Illustrated )In his memoir, ‘I May Be Wrong But I Doubt It’ he wrote about his experiences with his friends and what he had to go through.
I’ve probably lost between $600,000 and $700,000 lending money to my friends and relatives. Most of the friends I’ve loaned money to won’t even speak to me now. It’s the strangest damned thing.
The 11-time All-Star is known for his generosity and charitable acts mostly to educational institutions, like his alma mater, Auburn University.
