Kevin Garnett Net Worth: How Much Has His Wealth Grown Since Retiring?
Kevin Garnett, sometimes known as “The Big Ticket,” had a career that lasted 21 seasons and was one of the most recognizable and well-liked NBA players during his playing years. Fans and fanatics are frequently interested in his net worth and how it has changed since his retirement, despite the fact that his legacy on the court is obvious.
Kevin Garnett Net Worth
When Garnett entered the NBA straight out of high school in 1995, his career as a professional basketball player officially began. An indication of Kevin Garnett’s successful career both on and off the court is his current reported net worth of $120 million.
Despite his retirement from the NBA, he has continued to amass wealth through a variety of business enterprises and investments. Garnett reached important milestones while playing for the Minnesota Timberwolves.
He agreed to a stunning $126 million six-year contract extension in 1997. He won MVP honors from 2001 to 2004, and the Timberwolves won their division.
Garnett was a 15-time NBA All-Star and nine-time All-NBA pick thanks to his versatility, which allowed him to succeed in a variety of positions. He received the NBA Most Valuable Player title in 2004 and the NBA Defensive Player of the Year award in 2008.
Nevertheless, despite his exceptional individual talent, Garnett encountered difficulties as the squad surrounding him struggled, which resulted in a trade to the Boston Celtics in 2007. In the first year of his three-year, $60 million deal with the Celtics, he won the NBA Championship.
He was traded again in 2013 but this time to the Brooklyn Nets, where he played his final season before calling it a day. Garnett also took home a gold medal from the Summer Olympics in 2000.
Garnett made an estimated $4 million a year while he was still playing, and in addition to his earnings from his professional basketball career, he significantly increased his net worth through sponsorships and endorsements. He worked as a spokesperson for well-known companies like American Express, Adidas, and Gatorade. NBA Retweet Tweeted about Kevin Garnett’s Net Worth:
Kevin Garnett retired from the NBA in 2016, but set up his deal with the Celtics so that he’d get paid $5 million every year until 2024.
Smart. 💰 pic.twitter.com/yjRVFuAhEl
— NBA Retweet (@RTNBA) October 10, 2023
Kevin Garnett Still Earning Money From the Celtics
After retiring as a former NBA MVP and champion, Garnett entered the entertainment industry by making cameos on programs like “Inside the NBA” and in the 2019 movie “Uncut Gems.” He also served as a consultant with the Milwaukee Bucks and the Los Angeles Clippers.
The deferred clause in KG’s contract states that the team will continue to pay him $5 million annually until 2024, which is particularly notable because it ensures that KG will continue to get that amount from the Celtics. According to the agreement, he would receive $35 million over a seven-year period after retiring.
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KG’s Real Estate Ventures
In addition to being a basketball legend, Garnett is a savvy real estate investor. Notably, in 2007, he bought a 10,000-square-foot estate in Concord, Massachusetts, with nine bathrooms, seven bedrooms, and a basketball court inside.
When he purchased the house, it had a $4.85 million listing price. He later sold it for $4.62 million in 2015. Garnett acquired many multi-family residences in the Minneapolis region as well as a commercial building in Greenville, South Carolina, throughout the years to diversify his real estate holdings.
Additionally, he owns a lavish apartment in Boston’s Four Seasons Residences, which he paid $4.625 million for in 2013. He bought the $6.4 million Malibu property in 2013 and spent $6.4 million on renovations before selling it for $16 million in 2021.
Garnett’s financial success is a result of his commercial ventures as well as his basketball career and real estate holdings. In addition to starting a restaurant, he also started a sports and entertainment agency.
His path hasn’t been without difficulties, either. He sued his accountant for $70 million in 2018, claiming that the accountant had teamed up with a wealth manager to defraud him of more than $77 million.
Regarding KG’s private life, he wed Brandi Padilla in 2004 and the two of them share two children, Capri and Kavalli Garnett. However, Garnett was required to pay $100,000 a month in spousal and child support after their marriage ended in divorce in 2022.
Garnett has a daughter from a prior union with Necat Ackman in addition to his kids with Padilla. If you want to learn more about the wealth and other financial information of your favorite celebrities, you may bookmark Dailycelebrityupdates.com.