Net Worth Ranker
What Is Charles Oakley’s Net Worth?
Charles Oakley, a retired American professional basketball player, has accumulated a net worth of $12 million. This wealth is primarily a result of his 19-year career in the NBA, endorsements, and subsequent business ventures.
Charles Oakley’s NBA Career Earnings and Contracts
Oakley’s career earnings from his NBA contracts totaled approximately $43.6 million. His earning trajectory began with his first NBA contract with the Chicago Bulls in 1985, where he earned a salary of $75,000 during his rookie season. His peak earning season was in 2000-2001 while playing for the Toronto Raptors, where he earned $8.75 million. These earnings, combined with endorsements and careful financial management, contributed significantly to Charles Oakley’s Net Worth.
Early Life and Education
Charles Oakley was born on December 18, 1963, in Cleveland, Ohio. As a teenager, he attended John Hay High School. For his higher education, Oakley attended Virginia Union University in Richmond, Virginia. In his senior year, he led the school basketball team to a 31-1 record, which was capped off by the 1985 CIAA championship. Oakley finished his collegiate career with 2,379 points and 1,642 rebounds.
NBA Career: Key Teams and Contributions
Oakley’s NBA journey spanned several teams and included significant contributions as a player. In the 1985 NBA draft, Oakley was chosen by the Cleveland Cavaliers; however, his draft rights were traded to the Chicago Bulls. His time with the Chicago Bulls marked the beginning of his professional career. He played for three years and protected Michael Jordan. In March of 1986, he set a career high of 35 points in a game against the Milwaukee Bucks. In 1988, Oakley was traded to the New York Knicks. Alongside Patrick Ewing, Anthony Mason, Mark Jackson, and John Starks. Oakley remained with the team for a decade. His best season was arguably 1993-94, when the Knicks won the Atlantic Division and made it to the NBA Finals against the Houston Rockets. The Rockets won in seven games. The season was notable for several other reasons, including Oakley’s record 107 starts, which included starts in a record 25 playoff games. During his time with the Knicks, Oakley established a reputation in the league for his strong defensive skills and his exceptional rebounding. In 1998, Oakley was traded to the Toronto Raptors, where he played alongside young talents like Tracy McGrady and Vince Carter. In 2001, Oakley returned to the Chicago Bulls. He started 36 of his 57 games and averaged 3.8 points, six rebounds, and two assists per game. In 2002, Oakley signed as a free agent with the Washington Wizards. On the team, he reunited with his former Bulls teammate Michael Jordan. During his sole season with the Wizards in 2002-03, Oakley played 42 games and averaged 1.8 points, 2.5 rebounds, and one assist per game. In 2004, Oakley signed a 10-day contract with the Houston Rockets, his final year in the NBA. He played in only seven games, averaging 1.3 points, 0.7 rebounds, and 0.3 assists per game. He retired at the end of the season, finishing his career with a total of 12,417 points, 12,205 rebounds, and 3,217 assists. His performance and dedication on the court were vital components of his financial success, significantly impacting Charles Oakley’s Net Worth.
Post-Playing Career: Coaching and Business Ventures
Since retiring from the NBA, Charles Oakley has transitioned into coaching and various business endeavors. In late 2010, he became an assistant coach for the Charlotte Bobcats, a position he held for a year. In 2017, Oakley became the coach for the BIG3’s Killer 3s. On the business side, Oakley owns several commercial enterprises in his hometown of Cleveland, including the salons Hair Solutions and Nails EtCetera, and the combination car wash and Laundromat Oakley’s Wash House, all family-run. He also owns a chain of car wash, oil change, and detail centers in New York. In early 2017, Oakley was involved in an altercation during a game between the Knicks and the Los Angeles Clippers at Madison Square Garden. He was removed from the arena and arrested by the New York City Police Department, charged with three counts of misdemeanor assault and criminal trespassing. In the summer of 2016, Oakley married Angela Reed. Also that year, he was inducted into the Virginia Sports Hall of Fame and Museum. These ventures, alongside his NBA earnings, contribute to Charles Oakley’s Net Worth.
