Kobe Bryant ended up paying $13 million to the government on 1 single day, thanks to a lump-sum deal with Lakers

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.

Also Read: Michael Jordan was docked a part of his $2.5 million payment in 1991, thanks to California’s love for Magic Johnson

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.

Also Read: “Only stat sheet Michael Jordan wanted to see was his turnovers, missed free throws, and fouls”: Celebrity trainer Tim Grover reveals the success mantra of the Bulls legend

Post Edited By: Ashish Priyadarshi
Kobe Bryant Los Angeles Lakers NBA

About the author

Ashish Priyadarshi

Ashish Priyadarshi is The SportsRush's content manager and editor. Ashish freelanced for 1 year in the NFL division before taking on an editorial role in the company. He then tacked on managing content while adding on a writing role in the NBA division. Ashish has been closely following the NFL and NBA since the 2012 season when the Patriots lost the Super Bowl and Derrick Rose was at the height of his powers. Since then, Ashish has focused on honing his knowledge for both leagues in, even writing crossover pieces. In his free time, Ashish is an avid basketball player, he loves to watch movies and TV shows, immersing himself in the cinematic world. Ashish studies computer science and data science at the University of Wisconsin-Madison and would love to mesh his love for sports with his technical skills.

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