Despite Earning $143,403,318 in 16 Years, NBA Legend Refrains From Purchasing Cars to Penetrate an $11 Billion Industry

Luxury follows when someone enters the NBA, especially on a multi-year guaranteed contract. The opulence of NBA stalwarts has come to the forefront even more so in the social media era. From donning expensive watches to wearing expensive clothes, the mega earners don’t shy away from flashing their wealth. And what better way to flash your wealth than buying a costly automobile?

However, one NBA veteran has taken a different approach when it comes to cars.

NBA vet joins in a blooming business

NBA players spend millions on cars. They can buy an expensive car one year and then follow the trend next year. This happens more so when they are young and can collapse their budget if fortunes change swiftly. 

Drive LA is a platform that goes against the traditional method of buying a car and spending a ton. This platform offers customers a chance to rent an exotic vehicle for two to three months. One can give them their expensive car when they don’t need it, and get a share of the profit.

For Toronto Raptors Forward Thaddeus Young, this is a great opportunity. While he is spending much of his time in Toronto these days, his home is in Texas.

When he is at home, he rents his luxury car during the NBA season, and then he can get it back when the offseason rolls in. 

But more than that, he is also an investor in this venture. After buying a car, the Forward is now renting it to generate profit and also cover the cost of buying the car. As per Sportico, he revealed, “If I want go buy a car, now I can turn that car into an asset that makes me money over the course of time. And when I want to drive it, I can just have it shipped back to me for the two, three months that I’m home  when I’m not in season”.

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The venture which has shot up in popularity is expected to go past the $11 billion mark next year. For Young, this has been a great way to manage his wealth.

Young is a multi-millionaire

The Forward is currently in the second year of his two-year $16 million contract. Therefore, he will make $8 million this season. Drafted in 2007 as the twelfth pick by the Philadelphia 76ers, he will enter his 17th season. Over the 16 years period, he has made $143 million through contracts, but still manages his wealth carefully. With ventures like Drive LA, he is going to expand his current net worth of $37 million.

While his minutes have seen a huge hit, he is still a strong player, who can provide solid 10-15 minutes during a game. He may not see his contract value grow now, but he has laid some plans to sustain his wealth.

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