NBA Star Chris Paul Went From Having $150 in His Bank Account to Becoming a Millionaire
When you think of the top point guards in the NBA, Chris Paul is up there on that list. Throughout his career, he has emerged to be a leader for the multiple teams that he played for.
Before he was drafted, Paul’s bank account did not have a lot of money in it, but now, the 10-time all-star has way more money than he can imagine from the time he was a rookie.
Chris Paul was broke going into the NBA draft
Chris Paul is a superstar in the league, and he also is the president of the Players Union. Paul is currently in his 15th season in the league and has made multiple endorsements. Everything that Paul has now came with time and understanding for the veteran point guard.
In the 2005 NBA draft, Paul was selected by the New Orleans Hornets with the No. 4 pick. Before Paul came into the league, his bank account was a little scarce. In college right before he declared for the draft, Paul was on the struggle bus when it came to money. When he got drafted, his bank account changed tremendously.
A sophomore in college at the time, Paul’s life quickly changed when he decided to declare for the NBA draft. He did not know how much money he would be getting, but it sure was a massive dent in his account.
What Paul did with his first check
When Paul was drafted, he received a check for $25,000. That check was a big boost for Paul’s bank account. One of the first things he did when he got paid was take some of his friends to the mall to go shopping. Paul was not the same guy he was in college anymore when he was splitting the dinner bill when he was out with his friends. Paul could now take care of the bill himself.
With Paul being in the league, he now had the opportunity not only to take care of himself but the people that were close to him. Paul was cautious about spending money while he was in college, and even though he went and splurged a little bit when he first got his check, he still knew how to take care of his money.
Chris Paul’s net worth
Over time, Paul has made a lot of money on the court and off. His net worth is $120 million, and as was one of the top guards in the league, he deserves all the money he’s making. In 2017, Forbes ranked Paul the ninth highest-paid player in the league, reporting that he earned $22.9 million on the court and $8 million away from the court.
While he’s made a lot of money during his career, Paul continued to gain knowledge about managing money. Most professional athletes don’t make the financial decisions while they’re playing, and when their career is over, they find themselves in the wrong place financially.
With his off, the court ventures, such as State Farm, Paul has found different ways to bring money in outside of the sport of basketball, and he wants to continue to make sure that he’s making sound financial decisions. He wants to set the right example for his kids, so when they get older, they will know how to handle money.