Tim Duncan is one of the greatest players in NBA history, and his incredible play was a major factor in shaping basketball during the 2000s. The Big Fundamental was as consistent and solid as they come, excelling on both sides of the court while carrying the San Antonio Spurs to 5 championships and playoff runs year after year for nearly 2 decades.
During that time, Tim Duncan made money that was befitting of his status as a superstar. Although he took team-friendly deals to keep the Spurs competitive, he still earned quite a bit in salary during his tenure. Throughout his career, Duncan amassed over $240 million in salary, enough money to set anyone up for life. But as Shaquille O’Neal showed once by blowing a million in less than an hour, money can go just as fast as it comes in, and Duncan has a story about that as well.
Tim Duncan Explained How He Lost $20 Million And How It Changed Him
NBA players have vast fortunes, especially the ones that achieve star status in the league. Considering the commitment it takes to stay on top of the game, they can’t always manage their finances before they retire. As such, many have business managers and financial advisors that help them prudently grow their wealth. And trusting one of his advisors is what cost Duncan $20 million, something he opened up about in 2015 (via Bleacher Report).
“Luckily I had a long career and made good money. This is a big chunk, but it’s not going to change my life in any way. It’s not going to make any decisions for me.
“I thought, for the most part, I was keeping an eye on things. You have to have people checking on people checking on people. I did that for a while. Obviously, I got to a point where the people I trusted were checking on themselves. The bottom line is this: You can’t be angry at yourself. I keep going back to this word, but I trusted someone. I was wrong about it. I got screwed over for it. I’m not mad at myself for that. That’s a lesson learned. I’ll never put myself in that situation again.”
Tim Duncan is far from the only player to have lost major money, Eddy Curry lost over $57 million and had his house foreclosed upon. However, it’s the fact that Duncan didn’t lose major money and, in fact, learned from it that is the big lesson. The Spurs legend is still worth well over $120 million today, making him extremely rich still.
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