Net Worth Ranker
What Is Henry Ruggs III’s Net Worth?
Henry Ruggs III, a former wide receiver in the National Football League (NFL), currently has a net worth of approximately $4 million. This valuation reflects his earnings from his professional football career, endorsements, and other ventures prior to his legal issues.
Henry Ruggs’ NFL Career Earnings and Contract Details
In July 2020, Henry Ruggs signed a four-year contract with the Las Vegas Raiders worth $16.67 million. This contract included a $10 million signing bonus, which was a significant component of his early earnings. However, following the termination of his contract due to a tragic car accident in November 2021, a portion of the signing bonus, roughly $6 million, was reclaimed by the Raiders.
Despite the full contract not being honored, Ruggs received an estimated $4.73 million from the Raiders. Given that Las Vegas is located in Nevada, a state without state income taxes, Ruggs would have netted approximately $2.85 million after accounting for federal taxes, agent fees, and other related expenses. This figure does not include the substantial legal expenses he incurred following the accident.
In 2021, Ruggs earned a base salary of $607,000, in addition to a $2.4 million signing bonus installment. His contract stipulated a $4.8 million salary for 2022, which he ultimately did not receive due to his release from the team. In total, Henry Ruggs’ career earnings from his time in the NFL are estimated at $11 million before taxes and other deductions.
Early Life and College Football Career
Henry Ruggs III was born on January 24, 1999, in Montgomery, Alabama. He attended Montgomery Catholic Preparatory School, where he excelled in football, basketball, and track. Ruggs was a highly sought-after football recruit, ultimately committing to the University of Alabama. During his time at Alabama, he distinguished himself as a key player, contributing significantly to the team’s success.
As a freshman in 2017, Ruggs caught 12 passes for 229 yards and scored six touchdowns. In 2018, he improved his performance, recording 46 receptions for 741 yards and 11 touchdowns. As a junior in 2019, Ruggs had 40 receptions for 746 yards and seven touchdowns. Additionally, he returned 17 punts for 264 yards and one touchdown, showcasing his versatility and impact on special teams. Ruggs was recognized as a consensus All-American in 2019 and was named the SEC Offensive Player of the Year.
NFL Career and Key Statistics
Henry Ruggs was drafted by the Las Vegas Raiders in the first round of the 2020 NFL Draft, selected as the 12th overall pick. His rookie season in 2020 showed promise, as he recorded 46 receptions for 703 yards and four touchdowns. He also returned 11 punts for 159 yards, demonstrating his potential as a multifaceted player.
In 2021, Ruggs’ second season was abruptly cut short due to the tragic car accident in November. Prior to the accident, he had accumulated 24 receptions for 469 yards and two touchdowns in 10 games. These statistics reflect his performance during his brief but impactful NFL career.
Legal Proceedings and Sentencing
On November 2, 2021, Henry Ruggs was involved in a car accident that resulted in the death of 23-year-old Tina Tintor and her dog, Max. Ruggs was driving his Corvette at a high speed when he collided with Tintor’s car, which was stopped at a red light. Following the accident, Ruggs was arrested and charged with DUI resulting in death and reckless driving.
In February 2023, Ruggs pleaded guilty to a felony count of DUI resulting in death and a misdemeanor count of vehicular manslaughter. On August 9, 2023, he was sentenced to a prison term of 3 to 10 years. This sentence reflects the severity of the consequences of his actions and the legal ramifications he faces.
Net Worth Components and Considerations
Henry Ruggs’ net worth is primarily composed of his NFL earnings, including his base salary and signing bonus from the Las Vegas Raiders. While specific details regarding endorsements and other business ventures are not publicly available, it is reasonable to assume that he had some additional income streams prior to the accident.
It’s important to note that his net worth has likely been impacted by legal fees and other expenses associated with the legal proceedings following the car accident. Additionally, the clawback of a portion of his signing bonus reduced his overall earnings from his NFL contract. As of 2024, Henry Ruggs’ net worth is estimated to be around $4 million, taking into account his career earnings, expenses, and legal obligations.
Impact of Contract Termination on Net Worth
The termination of Henry Ruggs’ contract with the Las Vegas Raiders had a significant impact on his net worth. The four-year, $16.67 million contract was a substantial financial commitment, but the subsequent termination resulted in the loss of future earnings and the clawback of a portion of the signing bonus.
While Ruggs did receive approximately $4.73 million from the contract, the clawback of around $6 million reduced his overall earnings. The loss of future salary payments, including the $4.8 million he was slated to earn in 2022, further impacted his financial standing. The termination of the contract represents a major financial setback for Henry Ruggs, affecting his net worth and long-term financial prospects.
Potential Future Earnings
Due to the legal consequences stemming from the car accident, Henry Ruggs’ potential future earnings have been significantly curtailed. With a prison sentence of 3 to 10 years, his ability to pursue professional football or other income-generating activities is limited. While it is possible that he could explore other career opportunities after his release, his earning potential will likely be impacted by his criminal record and the circumstances surrounding his departure from the NFL.
Given the uncertainty surrounding his future, it is difficult to project Henry Ruggs’ net worth beyond his current estimate of $4 million. His ability to rebuild his financial standing will depend on his actions and opportunities after serving his sentence. The car accident and subsequent legal proceedings have fundamentally altered his career trajectory and financial outlook.
Detailed Breakdown of Contractual Payments and Taxes
Henry Ruggs’ four-year contract with the Raiders, valued at $16.67 million, was structured to include a $10 million signing bonus. This bonus was paid out over the duration of the contract, providing him with a substantial upfront payment. In 2021, he received a base salary of $607,000, in addition to a $2.4 million installment of his signing bonus.
Given that Nevada does not have a state income tax, Ruggs was only subject to federal income taxes on his earnings. After deducting federal taxes, agent fees, and other expenses, his net earnings from the Raiders contract are estimated at $2.85 million. It is important to note that this figure does not include the significant legal fees he incurred following the car accident, which would have further reduced his net worth.
The detailed breakdown of his contractual payments and taxes provides a clearer understanding of the financial implications of his NFL career and the factors that have impacted his net worth. The loss of future earnings and the clawback of a portion of his signing bonus have had a significant impact on his financial standing.
