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Antoine Walker shares how wanting to be like Jay-Z and Puff Daddy led to his bankruptcy

Antoine Walker shares what led to him losing all his wealth

Antoine Walker shares what led to him losing all his wealth

Former NBA player Antoine Walker explains how wanting to have the same lifestyle as famous rappers back in the day led to him going bankrupt and therefore selling most of his assets and losing most of his NBA earnings. 

Walker wanted to be like famous rappers

Numerous NBA players find themselves in financial problems a few years after retiring from the league. Accustomed to having a lot of money during their playing careers, players struggle financially afterward because their spending habits remain the same while their income drastically changes. Some players are smart enough to start different business ventures while still playing in the NBA, enabling them to have multiple revenue streams after they retire from the league.

Antoine Walker is one of those players who filed for bankruptcy a few years after he retired despite earning more than $100 million throughout his career. In a recent interview for the "I Am Athlete" podcast, he talked about what led to him going bankrupt despite making insane amounts of money most people can only dream of making. According to Walker, he was young, foolish, and heavily impacted by the hip-hop culture and the rappers showcasing their luxurious lifestyles. Walker wanted to be just like them, which eventually led to his financial troubles. 

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"It's a cultural thing, and I like to speak for myself. When I came out, Jay-Z, Puffy, all the rappers, what they did is what I wanted to do. You see them with the big jewerly, the chains, nice cars, you see the videos. I am looking at all that and thinking when I get it, I am doing that. When I had a lot of money, I also had a lot of fetishes. I had a car fetish. I would have 8 to 10 cars at one time. I had a watch fetish. When I came out, Jacob the jeweler was the man; everyone shopped with Jacob. I used to get all the new watches. I had 15 to 20 watches at one time, and I couldn't wear them all."

He was crushed when he had to sell his mom's house

Walker wanted to have it all, and he wanted to take care of his family, more precisely his mom. So he built her a house that was worth more than $4 million that had everything she ever wanted. Even though he had good intentions, all that spending was soon catching upon him, and he recalls how the lowest point of his life was when he had to give up that house he bought for his mom. 

"I built my mom a house from the ground up. I spent $4.1 million on that crib, 15.000 square feet with the indoor pool; everything you can ever imagine was in the house. When you go through the bankruptcy, you have a decision to make. At the time, I owned four homes. I asked my mom what she wanted to do, and that was the first time I broke down was when she said let the house go. I couldn't believe it, and that was the lowest point because that is something you never want to do. You never want to see your mom work again and see your mom go through anything of that nature, so that was probably the lowest point."

Walker went through the ups and downs in his life but is now back on his feet, working as a basketball analyst for FS1. He no longer has the wealth he previously had, but he seems to be in the right state of mind and enjoying his life, which is the most important thing at the end of the day. He also encourages younger players to learn from his mistakes to avoid having the same problems and be smarter about the way they spend their money. 

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