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 is after expenses, your contract may be for $50 Million dollars.
Your agent is entitled to 5%, that’s $45 Million for you.
You pay 15% tax, that’s $38.25 Million for you
You bought your Mom a mansion for $5.25 Million, you have $33 Million (the house for your mom is in her name and thus not part of your net worth).
You bought a collection of sports cars for your friends for $3 Million, leaving you $30 million
Your wife left you and took half. You have $15 Million in cash, your own mansion, jewellery, clothes, cars and a boat.
[Another relevant article](https://www.abi.org/feed-item/how-athletes-go-bankrupt-at-an-alarming-rate)
This one looks at their financial situation on retirement, but the same principles can apply to active athletes.
Unreliable sources. Have been around NFL players since day I was born. Some of their net worth will say 35 million well if you know them like I do it’s more like 200k. Also some are way to low my uncle who played and coached his net worth doesn’t show up it used to say one million..no he’s sitting on at least 12 m’s
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