New York Knicks point guard Derrick Rose has made generational money for himself and his family thanks to his basketball skills. The Chicago native has an estimated net worth of $91 million in 2021.
Rose’s life story is remarkable when you consider his father wasn’t around when he was a kid, and he and his family lived in one of the most dangerous neighborhoods in Chicago. The three-time NBA All-Star grew up in Englewood, one of the 77 official community areas in Chicago, Illinois.
Rose and his family had so little money back in the day that he was forced to eat powdered sugar while watching his favorite TV shows. That struggle made him into the tough-minded man he is today.
Derrick Rose is the youngest MVP in NBA history
During the 2010-11 season with his hometown Chicago Bulls, Derrick Rose became the youngest MVP in NBA history. He averaged 25.0 points, 4.1 rebounds, and 7.7 assists per game and led the Bulls to the best record in the league.
Rose won his MVP at 22-years-old and in his third year in the league. The Bulls got all the way to the 2011 Eastern Conference Finals behind the explosive point guard but lost to LeBron James and the Miami Heat in five games.
By winning an MVP Award while playing on his rookie contract, Rose created a new rule in the NBA’s collective bargaining agreement. The “Derrick Rose Rule” allows players to qualify for a higher maximum salary early in their career if they are named to an All-NBA team in the most recent season or two of the past three seasons, named Defensive Player of the Year in the most recent season or two of the past three seasons, or named MVP in any of the past three seasons.
The Rose Rule comes into play when players are negotiating a rookie-scale extension. In the summer of 2011, Rose signed a five-year, $94.3 million extension with the Bulls.
If you had told Rose when he was a kid that he would be signing a $100 million contract with his hometown team, he likely would have said you were lying. That’s because where the Memphis alum grew up, most people don’t make it out.
Derrick Rose grew up in poverty
During his documentary, Derrick Rose spoke about how he had to eat powdered sugar while watching Power Rangers. The 2008 No. 1 overall pick didn’t even have five cents to get candy from the convenience store.
“I used to get a cup and put powdered sugar in there and get a spoon and sit there and watch Power Rangers and eat powdered sugar the whole day,” Rose said. “Crazy, right? When I grew up, it was a five-bedroom house. We had 13 people living in there. Out of them 13 people, five or six of them were crackheads.”
Rose used his rough upbringing as motivation to get his mother and three brothers out of poverty. His hard work clearly paid off.
Pooh has helped the Knicks become winners again
Behind Julius Randle, R.J. Barrett, and Derrick Rose, the Knicks have won nine games in a row. The team is in fourth place in the Eastern Conference standings.
The Knicks acquired Rose from the Detroit Pistons on February 8, 2021. Tom Thibodeau’s group is 18-7 with the veteran point guard plays.
Rose’s grandmother gave him the nickname “Pooh” when he was a kid due to his love for candy. She would certainly be proud of her grandson and the person he has turned out to be.
Stats courtesy of Basketball Reference.