Earning millions of dollars by doing what you love may be something most individuals would opt for. The life of an NBA player on the other hand, is often filled with luxury. Each player's salary on the average could reach up to $5 million per season including their endorsement deals. These may only be applicable to well-known players, but bench warmers are earning massive amounts as well. A league minimum for a rookie could reach up to $500,00, and for a 10+ year veteran, their skyrocket could reach up to $1.5 million.
With these digits being tackled, "San Antonio Spurs" star player Tim Duncan never get a chance to earn near league minimum. As of this season, Duncan only made around $5 million, because he helped his team afford to pay their young players. Though he may have earned less this season, over the course of his career, Duncan has already made over $235 million. As of Celebrity Net Worth, he now has a net worth of $130 million.
With a net worth this big, why would Duncan fuzz about losing $1.1 million which he invested on a cosmetics company?
The money he lost from the cosmetic company may be a small amount, but it didn't stop there. Just this month, news emerged that the San Antonio Spurs basketball player sued his former financial adviser, Charles Bank, for numerous failed investments.
As per Wealth Management, Duncan filed a lawsuit against Banks claiming that he did not inform Duncan that the cosmetic company "Le Metier de Bute," was on the brink of bankruptcy when the basketball player invested his money on it.
Celebrity Net Worth also added that the cosmetic company is only one of his failed investments under Banks' guidance. The $25 million lawsuit also includes his failed investments including a hotel, sports merchandise, and numerous wineries that Banks controlled. It was also stated that Banks forged Duncan's signature on several occasions.
