Ex-NBA star Grant Hill recently went on air and talks about the disadvantages of becoming a young millionaire overnight, adding that you should be vigilant about your money.
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Grant Hill quickly established himself as one of the NBA’s best young talents. Hill had his best campaign in 1999-2000 when he was third in the scoring charts with 25.8 points per game.
Sadly, Hill injured his ankle at the end of the 2000 season and he never fully recovered. The former dynamic player managed to stay on as a valuable role player until his retirement season in 2012.
During his tenure in the NBA, Hill earned around $140 million. However, he made most of his money off the court. Hill’s highest NBA salary came in 2006-07 when he got paid $16.9 million from the Magic.
As a result, he knows all about becoming a millionaire at a young age. The 7x All-star recently had some financial advice for the young athletes in the game today. So, what exactly did he say? Read on and find out….
Ex-NBA All-Star Grant Hill talks about the advice he gives young athletes.
Grant Hill made various sound financial decisions during his career that paid off. In 2018, he inked a lifetime deal with Fila that pays him about $10 million annually. He also has a private company called Hill Ventures, which invests in commercial real estate ventures.
The NBA continues its investment in Africa with the creation of NBA Africa, which will oversee business in the continent, including the @BAL. Investors include Dikembe Mutombo, Grant Hill, Junior Bridgeman, Joakim Noah & Luol Deng. Adam Silver estimates venture to be worth $1B.
— Michael Lee (@MrMichaelLee) May 24, 2021
Grant Hill knows all too well about coming across a lot of money at a young age. As a result, he recently gave some advice to rookies about the same –
“Sometimes, I think athletes may struggle with guilt that they made it, and maybe those around them didn’t. Often, he adds, that leads to feeling an ‘obligation to take care’ of your friends who don’t make as much as you do. You can’t necessarily take everyone with you where you are destined to go.”
The 7x All-Star talks about the advice he gives rookies when he meets them –
“Manage their friendships, set boundaries as early as possible and stay smart and vigilant about their money. Be cautious about your inner circle. You are naturally going to be skeptical of new people, but the people who have been in your life are the ones that sometimes can get tricky.”
NBA Hall of Famer Grant Hill on the downsides of becoming a young multi-millionaire: ‘Be cautious about your inner circle’ https://t.co/lWU2GQnZCY
— CNBC International (@CNBCi) November 23, 2021
In fact, Hill is part of a group that purchased the Atlanta Hawks for $850 million. Currently, the NBA Hall of Famer holds the title of Vice-Chair of the Board. In the process, the former NBA Star and has amassed a net worth of $250 million.
