Kobe Bryant ended up paying $13 million to the government on 1 single day, thanks to a lump-sum deal with Lakers
Kobe Bryant was a basketball legend, winning five titles and working his way up to be a top 10, top 15 player of all time. His success brought him great wealth and great taxes.
Kobe’s legacy was built up by everything he achieved in his career, his five rings, Finals MVPs, scoring titles, and more, but a major part of his also the fact that he spent his entire career with the Lakers.
In an era defined by player autonomy and the right to take your brand anywhere, Kobe chose to stay put. He stayed put even when the Lakers were rebuilding and had no superstars to surround him with when he easily could have been playing along a superstar or two had he wanted.
He made the Lakers must see TV even when they weren’t. 20 seasons. That’s how long Kobe was a Laker. Countless memories were made. Everything from pure elation to absolute heartbreak included. That’s who Kobe was for LA.
Kobe Bryant goes to work during Game 1 of the 2009 NBA Finals.
Mamba finished with 40 points, 8 rebounds, 8 assists, 2 blocks, 2 steals in the Lakers victory.
pic.twitter.com/wuLXPPvlpX— Kobe Highlights & Motivation (@kobehighlight) June 2, 2022
Kobe Bryant paid more than half of his $24 million payout in taxes in 2013
With great success, comes great money. NBA athletes are some of the highest paid people in the world. However, with their huge salaries, they’re also forced to pay insane taxes.
California usually has the highest tax rates across the U.S. and with Kobe being a California resident, he was forced to hand over a large amount of his money.
In 2013, the Lakers legend earned $24 million, but he’d end up taking home only less than half it. Robert Raiola—a certified public accountant who works with the sports and entertainment department at FMRTL—said that Bryant was subject to pay taxes of 39.6 percent of his earnings, the highest tax bracket.
On top that, Kobe had to give away 13.3 percent additional withholdings to the state of California. When you add in Medicare tax and surcharges, he was left with only $10.9 million, according to Raiola.
The Lakers legend managed to overcome the taxes and a lot more through his career, building up a massive $500-$600 million net worth before his unfortunate passing.
Kobe Bryant can teach us all a lesson in investing
In 2014 he invested $6 million in sports drink BodyArmor. After a Coca-Cola acquisition, his investment is now worth $200M
Soon after retirement, @kobebryant also partnered on a $100M venture fund
Black Mamba net worth: $500M pic.twitter.com/EgR0mQDVGj
— Ogo🇳🇬 (@NerdyNigerian97) February 26, 2019
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