NBA

Klay Thompson Has Some Wise Advice for People Who Want to Be Rich

This year, Klay Thompson isn’t playing for the Golden State Warriors, but he’s still regarded as one of the NBA’s top shooting guards. The 29-year-old played an integral role in three Warriors’ championships. When he returns to the court next year alongside Steph Curry and Draymond Green, he’ll no doubt look to add to Golden State’s trophy haul. 

Thompson is a smart man who understands how to manage his money. And the shooting guard’s skills equal his savvy off the court. Let’s take a closer look at his wise advice regarding finances.

Klay Thompson’s career

Thompson played three years of college basketball at Washington State. Then, in the 2011 NBA Draft, the Warriors chose him with the 11th overall pick. Here’s what he’s accomplished in his NBA career thus far: 

  • 615 games played
  • 19.5 points per game
  • 3.5 rebounds per game
  • 2.3 assists per game
  • 45.9% of shots from the field
  • 41.9% of shots from three-point range
  • 84.8% of shots from the free-throw line
  • 16.4 Player Efficiency Rating
  • 46.8 Win Shares
  • Two-time All-NBA Team selection
  • Five-time All-Star selection

Thompson’s outsized achievements enable him to make quite a killing when it comes time to discuss his contract with the team. Let’s see how much money he makes and how he handles all that dough.

Thompson’s contract and net worth

NBA player Klay Thompson of the Golden State Warriors meets fans
The Warriors’ Klay Thompson meets fans | Zheng Hongliang/VCG via Getty Images

According to Spotrac, Thompson’s current contract is for five years and $189 million. The average annual value of the deal is just under $38 million. Provided Golden State doesn’t give him an extension, the shooting guard won’t be a free agent until the 2024 season. 

Thompson also has multiple lucrative endorsement deals. The Chinese shoe company Anta signed Thompson to a 10-year, $80 million deal. Forbes compiled a list of the companies Thompson endorses, including: 

  • Activision Blizzard
  • Anta Sports Products 
  • Fanatics
  • Kaiser Permanente
  • Monster Energy
  • Stance Socks
  • Tissot
  • Wheels Up

Thompson’s excellent play paired with his great team gives him a high profile and plenty of money in the bank. His net worth is an estimated $38 million. Someone with that much money must have a good approach to managing finances. Fortunately for Thompson, he’s figured this out.

Thompson’s advice for people who want to be rich

In an interview with Maverick Carter on his show Kneading Dough, Thompson explained how he handles his money: 

“Wealth is a mindset, man. if you have relationships and experiences around you … Those are priceless, you know? Better than any car you can get, any big house … It’s just about those relationships to me.” 

Thompson said he made mistakes with his money as well. He had “hoarding tendencies” and would also spend a lot of money on clothes. The NBA star said he had to get rid of those tendencies. Thompson also lost plenty of money in the Warriors team poker games. 

Thompson added that he doesn’t splurge very much. He said he has simple tastes, with a boat being his only somewhat outlandish purchase. He related the purchase to his love of the water and his desire to take his family fishing. 

Thompson’s major point is that being wealthy isn’t about how much money you have, it’s about how you manage it. If people can live within their means — not paying for things they don’t need or can’t afford — they have a chance to be wealthy.

It’s notable that his only big purchase was somewhat therapeutic in nature — meaning that if people do make big purchases, make sure it’s something that will help your overall wellness and not drain your resources or money. 

The Warriors’ guard has more money than he likely knows what to do with, but his advice can help people at any economic level.