MONEY WOES: Antoine Walker, Curtis Jackson, & Brian McKnight
Well we know who doesn’t have money to blow. Former Celtics baller Antoine Walker’s had a warrant out for his arrest a few months ago after writing almost $1 mill in hot checks. And now he owes over $4 mill to his creditors. Homeboy is now flat out broke…after raking in over $110 million during his 12 year b-ball career. How’d that ish happen? According to Yahoo Sports, the usual:
“[Walker] liked to move in an outsized entourage; his mother estimates that, during his playing days, he was supporting 70 friends and family members in one way or another. And speaking of his mother, he built her a mansion in the Chicago suburbs, complete with an indoor pool, 10 bathrooms, and a full-size basketball court. [...]
Living at the Bishops Forest condominium complex in Waltham during the Celtics season, Walker turned the pavement surrounding his home into a virtual luxury car lot — two Bentleys, two Mercedes, a Range Rover, a Cadillac Escalade, a bright red Hummer. Often, the vehicles were tricked out with custom paint jobs, rims, and sound systems at considerable added expense. He also collected top-line watches — Rolexes and diamond-encrusted Cartiers.”
He was also a generous friend and teammate who had custom suits made for coaches, routinely picked up giant team dinner tabs and, when there were funds to spare, gave to underprivileged youngsters. He was basically spending money like it was going out of style.
FAIL. When will people learn to make their first step hiring a damn financial advisor? Supporting 70 “friends and family and tricking out 7 luxury vehicles and other ish? Stop the foolery. Maybe he can hit up his boy Magic Johnson to see if there’s any job openings at Magic Theaters. Just a suggestion…
Reports allege 50 Cent is getting hit by the credit crunch and is now selling off his diamonds and furniture and other possessions:
50 Cent, real name Curtis Jackson, confessed he had lost “a few million” from his estimated worth of £270 million.
However he said aspiring business tycoons should learn from his financial prowess and even offered to give US President Barack Obama a hand running the American economy.
“The credit crunch has hit rap,” he said.
“I buy diamonds on a very regular basis, but now I am selling my old stuff before I get something new. These are times when you learn about the value of money.”
The 34-year-old, who is starring in British crime movie Dead Man Running, said it was inevitable that rich people like him would lose money in the current economic climate.
“If you don’t lose money in this recession, it means you didn’t have enough to start off with,” 50 Cent said.
“Sure, I lost a few million, but that’s because I have so much. This is a time that will sort out the strong from the weak.”
“Any businessman who wants a piece of the future should learn for me. Obama is great. If he wants me as his financial adviser that would be cool.”
Source
Just for the record, I doubt 50 Cent is really suffering in this recession. He won’t be eating Ramen noodles under the glare of his rolex anytime soon. This is likely just a case of him just making smart money moves and selling off some of his stuff to fund his new stuff. But who knows…
Brian McKnight’s money woes when you read the rest…
Brian McKnight is allegedly not paying his employees on the set of his new tv talk show. TMZ reports:
According to the California Labor Board, more than 20 employees have filed non-payment complaints against the McKnight show — totaling $86,300.
But Brian’s people intend to pay — telling us there “was mismanagement in the beginning and since then we have gotten new investors and the show is continuing.”
Stop the presses! Who gave Brian a tv talk show?
OnOct 28, 2009 at 12:54 pm (Quote) | Reply |
smh. When will they learn
OnOct 28, 2009 at 12:56 pm (Quote) | Reply |
AMEN….Superior MONEY Management!
OnOct 28, 2009 at 12:58 pm (Quote) | Reply |
AND Everything that Glitters is Not Gold PEOPLE…Reminder
OnOct 28, 2009 at 12:59 pm (Quote) | Reply |
Have a WONDERFUL Wednesday Good ONES!
OnOct 28, 2009 at 1:05 pm (Quote) | Reply |
I asked the same question, regarding Brian McKnight and his show. I watched his program for the first time, Sunday night. I was taught, “if you don’t have anything good to say, say nothing at all”, so I have no comment…
OnOct 28, 2009 at 1:05 pm (Quote) | Reply |
Black men and money = FAIL
OnOct 28, 2009 at 1:05 pm (Quote) | Reply |
Um when did Brian get a talk show? I knew about the radio show… even the new album that came out yesterday, but a talk show? And you can’t play your employees? Come on Brian, talk to us, what’s going on?
OnOct 28, 2009 at 1:06 pm (Quote) | Reply |
Thanks, I woke up thinking today was Thursday and have been messed up every since I found out it was only Wednesday.
OnOct 28, 2009 at 1:07 pm (Quote) | Reply |
Womp on all of them.
It’s one thing to be cheated out of your money by scheming financial investors and advisors like Madoff.
It’s another thing to blow it on your own!
I really hope 50 ain’t strugglin after all that Vitamin Water talk.
OnOct 28, 2009 at 1:07 pm (Quote) | Reply |
I wish 50 would shut up. If he had all the answers he wouldn’t be losing millions.
These celebs need to learn - it’s not just about now, it’s also about the future. You will not be on top forever so you must save up and spend with that in mind.
OnOct 28, 2009 at 1:07 pm (Quote) | Reply |
50 will never be broke, selling old diamonds to get new ones? Puleeze. The b-ball player was really careless and Brian, he what do you expect. His ass got kicked off Celebrity Apprentice. I really feel for all of them….NOT!
OnOct 28, 2009 at 1:08 pm (Quote) | Reply |
Sad to see that people have NOT LEARNED from others mistakes! Biggest teacher MC HAMMER!!! o well…
OnOct 28, 2009 at 1:08 pm (Quote) | Reply |
LOL at “Stop the presses. Who gave Brian a tv talk show?”…my thoughts exactly…since when does Brian McKnight have a talk show? Talking about what?
OnOct 28, 2009 at 1:09 pm (Quote) | Reply |
Don’t BALL till’ you FALL!
OnOct 28, 2009 at 1:10 pm (Quote) | Reply |
I love how Fifty is so confident in his business acumen. Perhaps he’ll reach one and teach one someday. Lord knows the black community needs all the business acumen it can take.
OnOct 28, 2009 at 1:11 pm (Quote) | Reply |
Exactly!!!! How many people gotta publically FLOP their mula and people, even US, don’t see the lesson?
I don’t understand why SOME black males, the first thing they do when they get a little money is buy some BULLSHIT that they won’t gain any revenue from and it depreciates the moment they swipe that card or slide over that cash. Why WHY WHY!!!
All those people you rtaking care of are the same people that can’t DO SHIT for you once you’re broke. Damn.
OnOct 28, 2009 at 1:15 pm (Quote) | Reply |
I just left a comment on the Yahoo entry about Antoine Walker. The same thing happens a lot to people who win the lottery. I hope all the pro sports leagues do a better job of teaching young athletes about wealth management.
OnOct 28, 2009 at 1:17 pm (Quote) | Reply |
thank you.
the second your income reaches the 7th 0, its time to take money management 101.
lesson 1: put money away where you cannot touch it
alot of folks could learn on The Game: Jason’s budget plan. LMFAO
OnOct 28, 2009 at 1:19 pm (Quote) | Reply |
SMH at Antoine Walker. He sounds like he was a very generous guy, too generous. Those 70 people that he was supporting, where are they now? Also, he really didn’t need to buy his mother a mansion with 10 bathrooms, who needs that much. These players really need financial advisors so they won’t piss away their money. 50 cent will be fine. 1 milllion to him is like me losing $10. Doesn’t he have a whole lot of money invested?
OnOct 28, 2009 at 1:23 pm (Quote) | Reply |
Please preach it!!
Thats why I laugh when these athletes and rappers when they get that first check go out buying jewelry and cars.
1st thing is to pay all your bills, then fund your retirement account and then buy the house (in full, get that mortgage/loan language out your vocab), put money in the children’s college fund and THEN spend on all the ridiculous!!!
when the checks keep coming in, put a good portion in savings
OnOct 28, 2009 at 1:25 pm (Quote) | Reply |
This is the key for anyone who won/inherited/earned a lot of money!! And for the love of gawd, drop the hangers on/entorage!!!
OnOct 28, 2009 at 1:25 pm (Quote) | Reply |
Caught the show over weekend… Its only once a week on TV One… Not a sit down on the couch type deal. He kinda goes out and interviews folx in their element. Had Alex Rodriguez… interviewed him at the stadium. Charlie Wilson was out somewhere.
Not very interesting… you aint missing anything.
OnOct 28, 2009 at 1:35 pm (Quote) | Reply |
I don’t feel sorry for Antoine Walker, a lot of these athletes have this mentality because more than half of them are functional illiterates. They don’t know who to hire much less why to hire them. First of all, your entourage doesn’t play ball, YOU DO. They do nothing but suck the blood out of you and use the fact that you “grew up” in the same hood as a reason to mooch. Did these people not watch HE GOT GAME?!?! Damn, and the family thing, you only take care of the people who took care of you. So if cousin Devaughn or Taquan didn’t do shit for you, you give them nothing but tangible things, i.e. a loaf of bread if they are hungry or a place to stay (your place) if they are homeless. He was tricking and now he is all tricked out, smdh.
50, 50, 50: a smart man indeed. I cannot hate on this man’s hustle because he’s caking and he is being real with his. He tried to help people out, but the number one rule when it comes to helping others moneywise, if they can’t help themselves then drop em because they will do nothing else but drain you in the process.
Brian McKnight: Huh? LOL
OnOct 28, 2009 at 1:35 pm (Quote) | Reply |
50 Cents needs to be quiet for one day he may really have 0.50 in the bank.
For all you wannabe entertainers, first thing when you get the check is set up a retirement and trust fund for parents,kids and self.
OnOct 28, 2009 at 1:36 pm (Quote) | Reply |
I consign 100%
Oh and FYI (anyone wanting to know)
For those that don’t know Brian McKnight’s show airs every Saturday @ 10 pm on Channel 38 WADL Detroit. There’s legends to up and coming artist–telling how they “arrived” and showcasing their many talents. On this past Saturday, he sung with his 2 sons, in whom is always coming out with their FIRST cd soon. They’re very NICE singers indeed. The show is actually VERY good. I thought it was going to be boring but then found out it was really good. But he knew who to pick for his first show: Stevie Wonder and the Alanta Housewives etc…. its a pretty cool for the most part. That’s just a random review.
OnOct 28, 2009 at 1:37 pm (Quote) | Reply |
Brian McKnight is only interesting when he sings “The only one for me” otherwise he is boring as paint drying.
OnOct 28, 2009 at 1:54 pm (Quote) | Reply |
This is some bull$&!t. There’s no reason for the b-baller to support so many “friends”. If they really were his friends, they’d at least be trying to get off their @$$es and start filling out some PAPERS…application papers, that is. As far as Mr. Curtis Jackson, he’ll ALWAYS have money. Investing in Vitamin Water has got to be one of the best business decisions I’ve heard of in a long time. It’s true, everyone drinks (and needs) water. Just like gas for vehicles…it’s a necessity. And for Brian McKnight…WHO GAVE HIM A TALK SHOW??!! I only recently heard him on the radio one day last week.
Damn…they all need to watch Eddie Griffin’s “Going For Broke” and take some NOTES.
OnOct 28, 2009 at 1:59 pm (Quote) | Reply |
nor Bronze for that matter!
OnOct 28, 2009 at 1:59 pm (Quote) | Reply |
well stated. I appreciate Lebron’s mentality because he is employing his people so that they could have a skill that goes beyond him. I do not like taking care of grown folks. I would only take care of my parents and grandparents, everyone else would have to continue to work like me. Being a pro player or star is not easy, they work hard for the dollars. Now look, when the lights are not gleaming, where are these so called 70 people. Say what you want, Lebron has his head on straight. He already is talking about his future when basketball is over like acting etc.
Fifty is not broke, just wise. He made over 250 million dollars last year off of water, he was in the top five for the highest paid according to forbes. He very business savvy.
OnOct 28, 2009 at 2:03 pm (Quote) | Reply |
If money is your pride & greatest achieve then it will end up your downfall. Esp tru 4 all the current big time rappers & athletes. I’ve always stated all these celebs don’t make as much money as we are led 2 believe & people were quick 2 jump on me 4 it BUT time will defintely tell. That money doesn’t last 4ever & a lot of their problem is spending mula as soon as they get it until the checks stop rolling in.
OnOct 28, 2009 at 2:13 pm (Quote) | Reply |
Keyshia Cole, if you’re out there, take heed. The same thing can happen to you if you continue to support every single non-working member of your immediate and extended family.
OnOct 28, 2009 at 2:15 pm (Quote) | Reply |
the better question is WHY?!?
OnOct 28, 2009 at 2:17 pm (Quote) | Reply |
lol @ the coon antoine walker. typical and i see he got the attractive trophy chick to match all of his other poor judgement calls. i hope the hoes have all the money. lmbatfo!!
byw, becoming a celebrity is not a substitute for an education!
OnOct 28, 2009 at 2:40 pm (Quote) | Reply |
I watched his show and you can actually see the “queen” coming out in Brian. He is flaming gay, no doubt.
OnOct 28, 2009 at 2:57 pm (Quote) | Reply |
I believe that all professional sports associations should require that rookies take a class in money management because this is getting out of hand. Majority of players are coming right out of high school now and giving them these huge contracts and paychecks is like giving a crackhead an unlimited amount of rocks, they’re gonna go crazy with it! They’re not capable of managing such a large amount of money. Also, it has to do with common sense. You can’t support every single person in your life. No matter how long you’ve known them or what they have done to help you get to where you are now and you can’t spend it on ridiculous amounts of jewelry and stupid superficial things! It’s time to grow up and be about your business.
OnOct 28, 2009 at 3:18 pm (Quote) | Reply |
Umm…what TV talk show?
OnOct 28, 2009 at 6:00 pm (Quote) | Reply |
I dont feel sorry for Antoine Walker because I remember a report about deadbeat athlete dads where he lived in the house with his 1st baby mama because his moms lived in the projects and then got brand new on the broad when he got to Kentucky. He gave her $30,000 a year and I’m quoting him “I owe my baby child support, not my baby mama” but you will buy some devil that aint gonna a suit? Pay for his and some other millionaires’ dinner? As The World Turns my nigga.
OnOct 28, 2009 at 6:01 pm (Quote) | Reply |
My bad family
OnOct 28, 2009 at 6:29 pm (Quote) | Reply |
Did anyone learn from MC Hammer. Helloooo
OnOct 28, 2009 at 7:57 pm (Quote) | Reply |
You can’t have it both ways. It’s ok to be rich and help out…much love for that. However, even rich YT folks would NEVER support 70 people. Cars are a depreciating asset…you don’t need more than 3, and they should be leases at that…cuz when a recession hits, you can turn those suckers in. The road to hell is paved with good intentions, Antoine.
50 is sorta right, but I believe he’s showing off. Sure, rich folks have investments in the market, so yes, he lost a few. He definitely ain’t broke. Stop bragging 50. Just breathe and be grown.
As to Brian, since when does the star of the talkshow cut the checks? That story is suspect. Maybe the show didn’t pay the folks, but not Brian personally. Seems like a smear to me. Not cool.
OnOct 28, 2009 at 8:10 pm (Quote) | Reply |
It should almost be mandatory that everytime someone joins a league and sign a hefty contract that a financial advisor is there to guide them b/c the fact or the matter is that alot of these players come from very poor backgrounds and before joining the league would probably go crazy for 100 dollars let along 2.5 million. it’s like giving a kid a full access pass to a candy store, do you really expect them to grab just one candy and call it a wrap. My guess would be no.
OnOct 28, 2009 at 9:12 pm (Quote) | Reply |
The DOW was off over 50% last year…50 lost only a few millions my ass. Every one needs an advisor, whether you are saving $50 a month or 500k.
These guys are idiots…to earn this much by the age of 35 and to have lost it…damn, homey, couldn’t you have lived off the interest?
OnOct 28, 2009 at 9:51 pm (Quote) | Reply |
50 isn’t as smart as he thinks, if he had since he would know that diamonds and gold should not be sold right now but he should keep them because they are valuable and might be worth more than that green paper one day soon! He should let me be his financial advisor!
OnOct 29, 2009 at 2:21 am (Quote) | Reply |
Every women want the authentic Christian Louboutin Shoes.However ,for the limited of the income,not each woman has enough money to buy them.It is wise for the women to buy the best cheap knock off Christian Louboutin Shoes.Wearing the Christian Louboutin Shoes,you also will be more beautiful ,confident .what’s more ,you not only can get your favorite but save a lot of money.
OnOct 29, 2009 at 2:25 am (Quote) | Reply |
@ Jeng and Jygalo, and so many more I concur…
First, I am tired of all this wealth frontin, as if $$$ is a substitute for actually attaining the ultimate life (LIES). What is a man to have all the $$$$ in the world and no common sense!!! Bling, bling, stuntin on ya boy, Bentleys, homes with 10 bathrooms and bowling alleys… Are you serious???? GTFOH. Get real and get back to basics. Life is simple. Think before you act. Don’t have children unless you can love them and afford them (those little ones are expensive!!!), don’t try to show off (true wealth is silent and speaks for itself; silence is discipline), stop calling each other wifey and my man and not actually be married (yep, it is a piece of paper, but in this country that piece a paper of can provide major tax breaks and other financial benefits), stop trying to be the Jonses and just be you, and read your contracts and financial statements (DUH!!!!)…. Money makes life a little easier if used appropriately, but it can cause major grief, depression, foolishness, and even death if misused. Be wise.
Good luck Antoine, you can recover.
Money does not equal success; that is achieved by being a good person, helping others (within reason; boundaries, limits and structure… Just say NO), traveling this magnificent planet, sharing your gifts with others, and remember when you are blessed to receive mullah don’t forget to open your hand and tithe (serve others, again within reason) Life is simple. Be blessed.