Glen Rice Nearly Lost His $68,323,900 NBA Fortune To Bad Investments And Child Support

Former NBA sharpshooter Glen Rice lost his NBA earnings with bad investments after retiring.

4 Min Read

Credit: Fadeaway World

Glen Rice was one of the best three-point shooters in the NBA during the 1990s. He was a star on the Miami Heat and the Charlotte Hornets during those 90s and even led the league in three-point percentage in the 1996-97 season after shooting 47.0% from downtown.  

Rice also was named the NBA All-Star Game MVP in 1997 after he set two All-Star records: the most points scored in a quarter with 20, and the most points scored in a half with 24.

In 2000, Rice was a member of the Los Angeles Lakers, and he won the championship with Kobe Bryant and Shaquille O’Neal. Rice would play until the 2003-04 season and retire after playing 15 years in the league.

In his 15-year career, Rice earned $68,323,900, which is impressive. The problem was Rice’s fortune would soon vanish.


How Glen Rice Lost His Wealth

Glen Rice earned millions of dollars during his prime years. However, after he retired, he faced some financial struggles that led to him losing a significant portion of his wealth.

One of the main reasons why Glen Rice lost his wealth was his lack of financial planning and investment. He spent money recklessly and made bad investments that didn’t yield any returns.

Bad investments weren’t the end of Rice’s money problems. He also has to pay child support payments, which you’d think wouldn’t be a problem for a former NBA player. But when you lose most of your money from bad investments, you don’t have any left to pay your support payments.

This was the predicament Rice found himself in, and he once asked a judge to lower his child support payments. Rice was paying $1,500 a month in child support, but this was too much for Rice, who struggled to find a steady job since leaving the NBA.

To make money, Rice would sign a lot of autographs, and he also offers private basketball training sessions just to get by. So, once Rice’s situation was brought in front of a judge, they agreed and lowered Rice’s child support payments from $1,500 a month to $600 a month, as long as he caught up with his unpaid child support, which was $2,000.

“A permanent, material, substantial, unanticipated and involuntary change in circumstances [warranted] a downward modification in support,” the filing reads, according to the Charlotte Observer.

“The father (Rice) is in dire financial straits … He has attempted to become gainfully employed in various capacities but has been unable to earn a semblance of meaningful income.”

Since Rice’s low of basically being broke, he has recovered. Today, Rice has a net worth of $25 million, and he works as a scout and community ambassador for the Miami Heat.

As fans of the game, we hope Glen Rice continues to be smart with his money and that he doesn’t miss any child support payments he still might be required to make. We all deserve to live a comfortable life, not stressing about money, including former NBA players like Glen Rice.

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Titan Frey is the editor-in-chief and a staff writer for Fadeaway World from York, Pennsylvania. Titan blends his deep passion for basketball and storytelling to oversee the content at Fadeaway World. A prolific writer, Titan has authored several novels, including the award-winning "Players Path." This experience has honed his ability to weave compelling narratives, a skill he applies to his editorial role, ensuring that every piece resonates with basketball lovers and maintains high journalistic standards. His passion for basketball was sparked by Michael Jordan's return to the NBA in 1995, and his allegiance to the Chicago Bulls often inspires his contributions to "Pippen Ain’t Easy," a website dedicated to Bulls-related content. Titan’s specialization in player biographies and retro basketball content allows him to offer unique insights, often reaching out to key sources to secure exclusive information not available elsewhere. One of Titan’s proudest achievements is the biography of Chuck Cooper, the first African American drafted by an NBA team. By collaborating directly with Chuck Cooper III, Titan was able to present a nuanced portrayal that enriched the basketball community’s understanding of Cooper’s impact on the sport. Titan also extends his storytelling prowess to his YouTube channel "HoopsHistory26", where he uses archived footage to bring historical basketball stories to life, engaging a broader audience with his vivid storytelling and authoritative content.Titan's bold predictions and memorable basketball moments also reflect his deep involvement in the sport. He boldly predicts that the Phoenix Suns will part ways with their Big 3 and focus on building around Kevin Durant. Among his cherished memories is attending the unforgettable 2004 game between the Philadelphia 76ers and the Indiana Pacers in Philly, where he witnessed Allen Iverson make his first career game-winning shot. These experiences and insights continue to enrich his contributions to Fadeaway World, connecting with readers on a deeply personal level.
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