Allen Iverson
Best known for his time with the Philadelphia 76ers, Allen Iverson made over $150 million from his days in the NBA. Factor in his earnings from various endorsements and his career earnings could very well be double of that. And, with that much money, Allen Iverson probably should’ve been set for life, or make that a couple of lifetimes. But, that’s not exactly what happened.
Allen Iverson was a rather rebellious man who had some pretty wild spending habits, including being addicted to buying jewelry and spending so much money on strip clubs. The former came to light after he was sued by a jeweler after owing over $860,000 in unpaid diamond jewelry purchases. The latter after Matt Barnes, a former teammate, said that Allen Iversion would throw $30,000 to $40,000 every time they went to strip clubs.
The good news is that Allen Iverson will receive $800,000 a year for life, and will be eligible to get his $32 million – or at least half of it after his divorce in 2013 – from his Reebok trust fund soon as he turns 55.