Allen Iverson Net Worth: Know More About NBA Legend’s Business Ventures

Standing in the 4th spot among the fastest NBA players, as per Ranker, Allen Iverson‘s NBA success was also fast-paced. Drafted into the league by the Philadelphia 76ers in 1996, Iverson earned a name for his speed and agility that allowed him to blow past the defenders.

Winning the 1997 Rookie of the Year, Al created an impact in the league with his entry itself. By his fifth season, the 6-foot player had already made his All-Star appearance and claimed the 2001 NBA MVP award. So it’s obvious his financial worth and value were also increasing. Subsequently, AI earned millions but could not retain his earnings, so let’s have a look at his exact worth in the present scenario.

Allen Iverson’s Net Worth

According to the information available on Celebrity Net Worth, the former 76ers star’s net worth is $1 Million. But how does an NBA star as popular as AI, who is said to have earned around $200 million, end up with such low net worth? The simplest explanation of this lies in Iverson’s way of leading his lifestyle.

Al led an extravagant lifestyle, which knew no limitations on expenditure on clothing, dining, strip clubs, or car collection. It is well known that Allen Iverson moved around with his entourage, consisting of as many as 50 men. And he used to bear all their expenses, including flight tickets, hotels, food, and bills.

One of the most popular instances of Iverson showing no care for his spending limit is the time he offered his Bentley to Larry Hughes. The 11x All Star himself stated the instance of Hughes getting fascinated by his Bentley, and desiring to get one for himself someday. “I don’t even hesitate. ‘Bro, you can have mine,'” Al wrote in the article. However, this is still not Iverson’s most surprising instance of giving up his car just like that.

In a separate instance, the former 76ers star once forgot where he had parked his car at an airport. Any other person would try to find the parking spot, but not Allen Iverson. The Answer found it rather easier to get a new car than look for the parked car, so he obviously brought a new one from a dealership then and there. But this no-bar expenditure and lavish lifestyle caught up to him. Retiring in 2010, he exhausted all his earnings within a two-year span and declared bankruptcy in 2012. But this was not it for the former NBA star, as he made somewhat of a financial comeback.

Iverson’s business ventures that let him bounce back financially

The most crucial one of these was his contract with Reebok, which first came during his rookie season. Back then, The Answer had signed a 10-year $50 million contract with the fitness footwear and clothing brand. However, when he claimed his first MVP title in 2001, the company signed a lifetime deal with AI.

Subsequently, the deal provided him with $800,000 per year and a $32 million trust fund that Iverson gains access to in 2030. Apart from this, he also partnered up with the Authentic Brands Group (ABG), which further helped him rise in the ranks of Reebok, making him the vice president of the basketball division. Notably, ABG acquired the fitness footwear and clothing brand in August 2021.

Speaking of partnerships, the 11x All-Star also joined hands with another NBA star, Al Harrington, as a talent partner in his company ‘Viola’. According to the official website of the company, “Viola is the largest Black-owned cannabis brand producing premium products since 2011.” And Allen Iverson’s role in the company is business operations and dropping new product lines.

It’s clear the former 76ers star is on the path to rebuild his financial legacy. And the $32 million that he will receive from the Reebok fund will further this approach.

Stay tuned for more such updates, and to follow what Shaq’s ex-agent, Leonard Armato had to say about the marketing genius, watch this video.