Allen Iverson Net Worth (2020) – How He Made & Lost His Fortune

Ryan
By Ryan Williams
Allen Iverson Net Worth
1 October 2020
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Allen Iverson net worth and career earnings: Allen Iverson is an American retired basketball player with a net worth of just $1 million dollars.

I say Just….

…Iverson has earned over $200 million during his career.

This guy’s an unbelievable crowd-puller for both his athletic success and his controversy.

Want to know more about Allen “The Answer” Iverson? 

Then you came searching in the right place. 

In this article, we’ll be giving every bit of juice you

need to know about Allen Iverson Net Worth;

  • His career earning
  • Indulgences
  • How this b-ball superstar splurges his millions
  • we’ll also let you in on some exclusive tattle on the rise, fall, and the eventual disappearance of this hated — and loved — former NBA Star

It’s how we roll.

Let’s check this guy out!

Who Is Allen Iverson?

Allen Ezail Iverson is one of the league’s greatest players.

This basketball hall of famer is known to be one of the most celebrated ballers in court for his explosive plays…

…with a rather notorious back story to boot. 

He’s been recognized by ESPN as the “5th greatest NBA shooting guard of all time”. 

During his NBA career between 1998 and 2005, he set the record as top scorer FOUR times.

Allen Iverson reached the pinnacle of his career,

Allen Iverson Net Worth 1
Image © ESPN

he holds the record for 2nd highest per game scoring average with the legend Michael Jordan just tipping a nod above him.

Allen Iverson Net Worth currently is $1 Million is an understatement of his overall stardom in the early 2000s.

Net Worth: $1 Million
Date of Birth: June 7, 1975
Gender: Male
Relationship Status: Divorcee (Tawanna Turner)
Last Updated: September 2020
Relationship Status: Divorcee (Tawanna Turner)
Children: 5
Profession: Former professional NBA Player
Nationality: American

How Much Is Allen Iverson Worth?

As of 2020, Allen Iverson net worth is a pretty disappointing $1 Million after his permanent time-out.

Iverson has earned over $200 million during his career, so where did it all go wrong?

Well for quick insight, general life challenges, overspending, and divorce.

 Don’t worry we’ll go into detail about Allen’s financial troubles, legal problems, and that infamous Reebok trust fund.

Allen Iverson Net Worth Year By Year

YearNet Worth $
2000$ 10 000 000
2009$ 20 000 000
2017$ 1 400 000
2018$ 1 000 000
2019$ 1 500 000
2020$1 000 000

YearEarnings $
1997$ 1.1K
1998$ 2.2K
1999$693K
2000$ 40M
2001$ 20 M
2002$ 11 250 000
2003$ 12 300 000
2004$ 13 500 000
2005$ 14 600 000
2006$ 16 400 000
2007$ 17 100 000
2008$ 19 000 000
2009$ 20 800 000
2010$ 1 029 000
2011$ 161 000
Total Endorsement Earnings$ 50 000
Total Earnings$ 205 Million

Business Ventures, Endorsements & Products

Aside from his popular Reebok endorsement, Allen Iverson has an endorsement deal with or has endorsed the following brands and products:

  • IO Moonwalkers
  • Packer Shoes
  • Stance
  • T-Mobile

Here’s a list of some Movies AI has shown up for in cameo roles:

Like Mike

A boy with a dream to become a basketball star laces up a magical pair of shoes.

Imagine That

A frustrated financial adviser finds the solution to his problems in his daughter’s fantasy world.

My Other Home (Another Shot)

Professional basketball star Stephon Marbury finds his passion by playing in China

Allen Iverson Investments

Allen Iverson Investments
Image © GRANTLAND

Iverson – Reebok Trust Fund

It’s nothing new…

… how an NBA star goes from hero to zero overnight. 

As it happens, 60% of NBA Stars go broke after 5 years of retiring from the league.  

Allen Iverson started out great. 

He was an underdog. 

His was a rags-to-riches tale of a young boy from Hampton Victoria beset with problems, hacked his life and became well known.

Be it as it may, Allen’s American dream began to crumble as he made some bad financial decisions. 

The only thing holding this Philadelphia 76ers up is his endorsement with a popular sporting goods brand.

Depressingly, the entirety Allen Iverson Net Worth is all thanks to Reebok. 

It saved him from going completely broke! 

How? 

With the exception of paying him $800,000 a year FOR LIFE, Reebok has already set aside a $32 Million trust fund to Allen Iverson Net Worth that Iverson can access as he turns 55 in the year 2030. 

However, as a result of his divorce, Allen will inherit only half of it. 

Will he hold on til’ he turns 55, I wonder?

Allen Iverson Controversies & Litigation

Allen Iverson Net Worth 3 1

This part, my friends, is where you’ll know how Allen Iverson Net Worth came dropping down like a pile of bricks. 

We’ll start off with the small ones early on in his career…

Allen Iverson vs. The Cops 

During the 1997 offseason, the cops cut Iverson down in one swift swing! 

He and his friends were stopped by police for speeding late in the evening only to be arrested on multiple counts.

This Philadelphia 76ers MVP was charged with carrying a concealed weapon and possession of marijuana which thankfully got him community service as he pleaded no contest. 

Allen Iverson vs. Domestic Abuse Charges

In 2002, news germinated about this NBA big league allegedly throwing his then wife Tawanna out of their home after a big squabble. 

It’s said he later carried a gun and threatened two men as he was looking for her. 

Lucky for him, all charges were later dropped after evidence from witnesses was found to be contradictory and unfit to be used in court. 

Allen Iverson vs. Bally’s Atlantic City Casino

You might wanna hold your laughter for this one…

On February 24, 2004, Iverson was unofficially BANNED from Bally’s Atlantic City Casino for urinating in a trash can. 

He was literally told not to return by the management. 

Did he deserve it?…

It’s not enough to be famous, you do gotta be respectable too! 

Allen Iverson vs. Trump Taj Mahal 

After the sixers defeated the Charlotte Bobcats on December 9, 2005, Iverson paid a late-night visit to the Trump Taj Mahal. Here, Allen Iverson was overpaid $10,000 by the dealer after winning a hand at a three-card-stud poker table. 

As the dealer quickly realized, this Philadelphia 76ers megastar refused the request to give it back. 

Not long after, a heated argument between Iverson and the staff began. 

As per Casino regulations, when a payout mistake occurs in favor of the gambler, the gambler must return the money they did not actually win legitimately. 

Iverson and bodyguard vs. Marlin Godfrey

Likewise in 2005, Iverson’s bodyguard Jason Kane was accused of assault on Marlin Godfrey after refusing to leave the club’s VIP section. 

This happened at a Washington, D.C. nightclub – so Iverson’s entourage could enter the room instead.

As a result of the brawl, Godfrey suffered a number of injuries: a concussion, ruptured eardrum, torn rotator cuff, cuts and bruises, burst blood vessels in his eye, and so-called emotional distress. 

In return

… Godfrey sued Iverson for the injuries caused by his security guard. Two years later, the jury awarded $260,000 to Godfrey from Allen Iverson Net Worth.

The verdict was upheld in 2009.

Iverson vs. Ohio man

One certain Ohio man sued Allen Iverson in 2011 for $2.5 Million claiming that Iverson’s bodyguard (again) assaulted him in a bar fight in Detroit. 

However, the federal judge dismissed this case due to lack of evidence against Iverson and his bodyguard, Guy Walker.

Allen Iverson vs. Ex Wife

This one’s just a case of pettiness but nevertheless, it’s on record for its absurdity! 

In 2013, Allen Iverson was accused of kidnapping his children. 

Allen refused to return them to their mother. 

He denied the claim, and later he and his ex-wife reconciled.

How Allen Iverson Spends His Money

Allen Iverson Net Worth
Image © News Break

Sometimes when a big fish claims they’re bankrupt, it doesn’t necessarily mean they literally have no money. 

It’s a ruse….

… a last ditch effort to settle debts and start a clean slate. 

But in Iverson’s case, his bankruptcy was no ruse at all. 

It was the consequence of his terrible spending habits. 

This Philadelphia 76ers legend’s dreadful financial situation came to light as the court ordered him to pay a Georgia Jeweler $900,000 but apparently, his funds were at an all time low. 

In a court filing in December 2012, Iverson embarrassingly told the judge his monthly income was $62,500…

BUT HIS EXPENSES WERE $360,000! 

Of which, $10,000 was spent on clothes, $10,000 on restaurants and entertainment, another $10,000 for groceries, and about $125,000 went back to paying debt and mortgages! And that’s just in a MONTH!

Allen Iverson Houses  

 Alpharetta, GA, Mansion

Allen Iverson Houses 
Image © Instagram

He bought this European style 7 bedroom house, with 7 bathrooms for $2.16 Million in 2006, good addition to Allen Iverson Net Worth.

The word on the streets is this house is in foreclosure. 

Iverson had already lost another Atlanta-area home before this one. 

He blames his now ex wife for the purchase without his consent. 

This led him deeper into financial distress.

Allen Iverson Cars

Bentley Continental GT

Allen Iverson Cars 
Image © CelebrityCarz

Here’s a crazy story:

“Yo AI, I have to get me one of these.” said Larry Hughes as he complimented AI’s new Bentley.

Without a single hesitation, Allen Iverson responded “Bro, you can have mine.” 

That’s how he thoughtlessly gave away a brand-new car from Allen Iverson Net Worth nearly $250,000!

Lamborghini Murcielago

Allen Iverson Cars
Image © Bring A Trailer

This sweet ride was impounded by the Police one time after basketball mega star AI failed to prove that it was from Allen Iverson Net Worth. 

I guess this NBA star’s not as well known as we thought? 

Or was the police officer living in a cave?

Fun Facts About Allen Iverson

  1. This NBA star attempted to enter the rap music industry during his basketball career.
  2. In high school, he was popular for both basketball AND football. 
  3. He popularized the Shooter’s Sleeve
  4. This Philadelphia 76ers icon was given a 15-Year Prison Sentence when he was 17 years old. Apparently he and his friends got into a fight with Iverson allegedly hitting a woman with a chair on the head. It was overturned later for lack of evidence. 
  5. His Playoff Scoring Average is Second in NBA History (Michael Jordan is First.)
  6. After getting off a flight, Iverson forgot where he parked his VERY EXPENSIVE car so he left and bought a new one. 
  7. At 6’0, he was the first ever overall pick for the Philadelphia 76ers in the 1996 NBA draft.

Allen Iverson Philanthropy

Allen Iverson has engaged in charity work with or supported the following charities:

  • Choose Life Foundation 
  • Police Athletic League of Philadelphia (ironic really!)

The Philadelphia 76ers standout also coached a basketball team for charity in the Philippines. This 2-day clinic included a press conference too. It mostly catered to high school kids ranging from 12 to 14 years old.

5 Lessons For Financial Freedom From Allen Iverson’s Story

  1. Live within your means. Sometimes when your career has skyrocketed to unbelievable heights, you tend to overestimate yourself. This happened to Basketball bigwig, Allen Iverson. So live within your boundaries and NEVER go for an overly lavish lifestyle. 
  2. Instead of buying stuff, make investments. After reading all this basketball star’s litigations, you’ll see how his one deal with Reebok saved his LIFE. 
  3. Don’t be reckless with money. 
  4. Don’t be financially ignorant. Invest for money, and invest for learning. Ignorance can cause you more bad news than the money you’d lose because of it. 
  5. Don’t fall prey to short term thinking. Plan Ahead.

Summary: Allen Iverson Net Worth

Thanks for tuning in! 

I think we all can agree what a bumpy ride his career has been. 

Allen iverson, age 45, former basketball personality… 

If we only look at Allen Iverson Net Worth, it’s glistening and gold-plated. 

But a person isn’t all we see on the big screen. 

He had a tough side to him and it showed in the way he handles the ball. 

What really took me on a standstill was the Iverson-Reebok engagement, his trust fund of $32 million, and how it is pretty much all that worked out for him. 

I hope you enjoyed this article – you might also want to check out Allen Iverson’s Bounce Mojo Bio, and the best Allen Iverson memes.

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