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.”
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…
Read The Rest
