Net Worth Ranker
What Is Allen Iverson’s Net Worth?
Allen Iverson, the retired American professional basketball player, has an estimated net worth of $1 million as of today, March 6, 2025. This figure reflects the impact of overspending, divorce settlements, and other financial challenges despite earning over $200 million during his NBA career from salaries and endorsements.
Early Life and Career Beginnings
Allen Ezail Iverson was born on June 7, 1975, in Hampton, Virginia. Growing up in the projects, his early life was marked by considerable hardship, as his mother, Ann Iverson, was only 15 when he was born. He attended Bethel High School, excelling as the starting quarterback for the football team and a standout player on the basketball team. His athletic prowess earned him a place at Georgetown University, though he left early to pursue his professional basketball career.
NBA Career and Earnings
Iverson’s NBA career began in 1996 when he was drafted by the Philadelphia 76ers. His NBA salary earnings totaled approximately $155 million over his career, with significant annual earnings. For instance, in the 2008-2009 season with the Detroit Pistons, he earned $20.8 million. His earnings with the Philadelphia 76ers in 2005-2006 reached $16.4 million. Here’s a breakdown of some of his annual salaries:
- 1996-97 (Philadelphia 76ers): $2.2 million
- 1997-98 (Philadelphia 76ers): $3.1 million
- 1998-99 (Philadelphia 76ers): $3.5 million
- 1999-00 (Philadelphia 76ers): $9 million
- 2000-01 (Philadelphia 76ers): $10.1 million
Beyond his NBA salaries, Iverson earned an estimated $60+ million from endorsement and merchandising deals throughout his career, further contributing to his peak net worth.
Financial Challenges and Legal Issues
Despite his substantial earnings, Allen Iverson faced significant financial difficulties. In 2012, a judge ordered the seizure of his bank accounts due to claims that he was “flat broke”. Court filings from December 2012 revealed that his monthly income was $62,500, while his expenses totaled $360,000, which included $10,000 a month on clothes, $10,000 a month on restaurants/entertainment, and an additional $10,000 on groceries. He also owed $125,000 a month to creditors.
Iverson’s legal troubles also impacted his finances. In 2002, he faced legal issues following a domestic dispute and was later sued for $2.5 million in damages related to a bar fight involving his security guard in Detroit in 2009. In 2017, Iverson lost his mansion in Atlanta, Georgia, to foreclosure after defaulting on a $1.2 million mortgage. The $4.5 million upscale suburban home ended up selling in 2019 for $725,000, a considerable loss.
Reebok Endorsement Deal and Trust Fund
In 2001, Iverson signed a lifetime endorsement deal with Reebok. This deal included several key benefits:
- $800,000 per year for life.
- Payments of $5-10 million per year during his NBA career.
- A $32 million trust fund set aside, to be inherited on his 55th birthday (June 7, 2030).
The existence of the Reebok trust fund became public during his divorce proceedings in 2010. The trust fund is designed to provide long-term financial security, but the impact of his spending habits and financial decisions has led to his current reduced net worth. The trust fund is set to become accessible on June 7, 2030, when Iverson turns 55.
National Team Career
Allen Iverson represented the United States in international competitions. In 1995, he traveled to Japan as part of the USA World University Games Team, where he led the team in scoring, steals, and assists, helping them win a gold medal with an undefeated record. In 2003, he was selected for Team USA for the FIBA Americas Olympic Qualifying tournament in Puerto Rico, where they also won gold with a perfect 10-0 record, qualifying for the 2004 Olympics.
Personal Life
Iverson married Tawanna Turner in August 2001 at The Mansion on Main Street in Voorhees, New Jersey. The couple has five children. Tawanna filed for divorce in March 2010, which was finalized in 2013, but they reportedly reconciled shortly after. His personal life has been marked by periods of financial instability and legal challenges, contributing to the fluctuations in his net worth.
Business Ventures
In 2021, Iverson partnered with former NBA player Al Harrington to launch a cannabis product line called “The Iverson Collection” under Harrington’s company, Voila Brands. In January 2023, Iverson announced plans to open a seafood and soul food restaurant in his native Virginia, with future expansion plans into Philadelphia.
