I was looking over the net worth of a specific baseball player and it says his net worth is between $6 million-$15 million. But in the same article it says he earned $51 million playing four seasons in the majors. If he earned $51 million how is his net worth $15 million max?
In: 5
Net worth is value of current assets minus debts. First off, taxes and agent commissions are going to cut those earnings almost is half. So maybe they took home $30m. And maybe he blew $20m on fancy cars, partying and strippers. Maybe be lost a large chunk of money in a divorce. Maybe he bought a $40m mansion and still owes $30m on the mortgage. Many athletes spend an insane amount of money when they’re earning big bucks, only to have that end when they’re still young and they don’t have money to support their lifestyle for very long… there are countless athletes who are broke within a decade of retirement even when earning absurd sums of money during their careers.
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