Allen Iverson: A Journey Through Basketball, Fame, And Comebacks

How Much Is Allen Iverson Worth Today?

Let’s talk about Allen Iverson, the legendary NBA star who left an indelible mark on basketball history. Despite once being hailed as basketball's next great icon, Iverson now finds himself with a net worth of just $1 million. Known for his incredible skills and electrifying style, Iverson was a force to be reckoned with on the court. Over his career, he scored more points than almost anyone else in NBA history, second only to Michael Jordan in playoff scoring. He was named to the NBA All-Star team eleven times and was a consistent scoring leader. But life off the court wasn’t as smooth. Allen faced struggles with personal issues, including run-ins with alcohol and gambling, as well as a troubled marriage. His unpredictable behavior often made it difficult for teams to rely on him fully, both in performance and attendance. Eventually, Iverson found himself playing overseas in Turkey’s second-tier basketball league after burning bridges with NBA teams.

Despite earning over $200 million in salary and endorsements during his career, financial mismanagement, a costly divorce, and other life challenges have significantly impacted his wealth. In the sections below, we’ll dive into Allen's financial struggles, legal battles, and the famous Reebok trust fund that could change his financial future.

From Humble Beginnings: Allen Iverson's Early Years

Allen Iverson was born on June 7, 1975, in Hampton, Virginia, into a challenging environment. His mother, Ann Iverson, was only 15 when she gave birth to him, and his father, Allen Broughton, left the family early on. Growing up in the projects, Allen was surrounded by drugs and crime, but he remained a beloved figure in his neighborhood, often looking out for the younger kids. He attended Bethel High School, where he excelled in both football and basketball. As the quarterback for the football team and a standout on the basketball court, Iverson quickly became a local star, setting the stage for his future in professional sports.

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Allen Iverson's Basketball Career: A Rollercoaster Ride

Allen’s basketball journey started at Georgetown University, where he was recruited directly from a Virginia jail after being arrested for a bar fight. Coach John Thompson intervened, convincing a judge to release Allen into his custody so he could focus on basketball and education. Despite this second chance, Iverson left Georgetown early, against Thompson’s wishes, to join the NBA. Drafted by the Philadelphia 76ers in 1996, Allen became an instant sensation. He was a controversial figure both on and off the court, but his talent was undeniable. By 1999, he led the 76ers to the playoffs for the first time, playing in all ten games before losing in the second round to the Indiana Pacers. His star continued to rise, earning him a six-year, $70 million contract extension. Despite tensions with coach Larry Brown, Iverson brought the 76ers to the NBA Finals in 2001 and was named Most Valuable Player that same year.

After a decade with the 76ers, Allen moved on to play for the Denver Nuggets, Detroit Pistons, and Memphis Grizzlies, before returning briefly to the 76ers. Towards the end of his career, he found himself playing overseas in Turkey’s basketball league and the Eurocup. Iverson officially retired in 2013, leaving behind a legacy as one of the NBA’s most dynamic players. Over his career, he was the top scorer four times between 1998 and 2005, holding the record for the second-highest per-game scoring average behind Michael Jordan.

Allen Iverson's Career Earnings Breakdown

Let’s take a closer look at how much Allen Iverson earned during his NBA career:

• 1996-97 Philadelphia 76ers: $2.2 million
• 1997-98 Philadelphia 76ers: $3.1 million
• 1998-99 Philadelphia 76ers: $3.5 million
• 1999-00 Philadelphia 76ers: $9 million
• 2000-01 Philadelphia 76ers: $10.1 million
• 2001-02 Philadelphia 76ers: $11.25 million
• 2002-03 Philadelphia 76ers: $12.3 million
• 2003-04 Philadelphia 76ers: $13.5 million
• 2004-05 Philadelphia 76ers: $14.6 million
• 2005-06 Philadelphia 76ers: $16.4 million
• 2006-07 Denver Nuggets: $17.1 million
• 2007-08 Denver Nuggets: $19 million
• 2008-09 Detroit Pistons: $20.8 million
• 2009-10 Philadelphia 76ers: $1.029 million
• 2009-10 Memphis Grizzlies: $161 thousand

Total Career Earnings: $155 million

Allen Iverson's National Team Achievements

Allen Iverson wasn’t just a star on the NBA stage; he also shone internationally. In 1995, he traveled to Japan as part of the USA World University Games Team, alongside future legends Ray Allen and Tim Duncan. Iverson was a scoring machine, leading the team in points, steals, and assists, helping them achieve an undefeated record and win the gold medal. In 2003, Allen was selected for Team USA at the FIBA Americas Olympic Qualifying tournament in Puerto Rico. The team dominated with a perfect 10-0 record, earning a spot in the 2004 Olympics. Allen started in every game he played, finishing tied for 10th in scoring, fourth in steals, seventh in assists, and ninth in field goal percentage. Unfortunately, a sprained thumb kept him out of the final two games, but his impact was undeniable.

Is Allen Iverson Broke?

Back in 2012, a Georgia judge ordered the seizure of Allen Iverson’s bank accounts after the former superstar claimed he was broke. This revelation shocked many, considering Allen earned nearly $155 million in NBA salary alone, not to mention an estimated $60 million or more from endorsements. Iverson’s financial troubles are a cautionary tale for many athletes. He reportedly traveled with an entourage of up to 50 people, showering friends and family, including his mother, with expensive gifts like cars, jewelry, and lavish vacations. In 2012, Allen told a Georgia court that his monthly income was $62,500, but his expenses were a staggering $360,000. Of that, $125,000 went to paying creditors, and another large chunk covered mortgages. Allen admitted to spending $10,000 monthly on clothes, $10,000 on dining and entertainment, and another $10,000 on groceries.

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The Reebok Trust Fund: Allen Iverson's Financial Lifeline?

In 2001, Allen signed a lifetime deal with Reebok that included some impressive perks:

#1) Reebok agreed to pay Allen $800,000 annually for life.

#2) During his NBA career, Allen would receive between $5-10 million per year from Reebok.

#3) A $32 million trust fund was set aside, to be inherited on Allen’s 55th birthday, June 7, 2030.

This trust fund came to light during Allen’s 2010 divorce from his wife, Tawanna. While Allen claimed he was broke, Tawanna revealed the existence of the $32 million payout. Whether Allen will receive the full amount or half of it after the divorce remains unclear. Though legally divorced in 2013, Allen and Tawanna reconciled shortly after and remain together today, suggesting they might both benefit from the trust fund.

Allen Iverson's Legal Troubles

Iverson’s legal challenges have been well-documented. In 1997, he was arrested for carrying a concealed weapon and marijuana possession. In 2002, a domestic dispute with his then-wife Tawanna led to her being thrown out of their home. Allen later threatened two men with a gun while searching for her, pleading no contest and completing community service. In 2006, after a win against the Charlotte Bobcats, Allen visited the Trump Taj Mahal casino, where an argument broke out after he was overpaid $10,000 at a poker table. He refused to return the chips and was banned from the casino. That same year, a man accused Iverson's bodyguard of assault at a nightclub, resulting in a $260,000 settlement. In 2013, Iverson faced accusations of child abduction by his ex-wife, which were later dropped. In 2017, Allen lost his Atlanta mansion to foreclosure after defaulting on a $1.2 million mortgage, eventually selling it in 2019 for $725,000.

Allen Iverson's Personal Life

Allen began dating Tawanna Turner at 16, marrying her in 2001. The couple has five children. Their marriage faced turbulence, with Tawanna filing for divorce in 2010. The divorce was finalized in 2013, but the couple reconciled shortly after. Allen also had a turbulent relationship with rapper Da Brat, which ended due to infidelity. In 2000, Iverson attempted to launch a rap career under the name Jewelz with the single "40 Bars," but controversial lyrics led to it being shelved. In 2021, Allen partnered with former NBA player Al Harrington to launch "The Iverson Collection," a cannabis product line, while also working on educational initiatives to reduce cannabis stigma. In 2023, Iverson announced plans to open a seafood and soul food restaurant in his hometown of Virginia, with hopes of expanding to Philadelphia.