How Did Former NBA Star Antoine Walker Lose All His Money?

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As with many other sports stars, instant wealth meant instant luxury for Walker. Instead of thinking about the future, he spent lavishly on cars, jewelry and homes. “I created a very expensive lifestyle. That’s how you lose your wealth real bad at the beginning,” Walker said.

Given his humble beginnings, Walker wanted his friends and family to enjoy his riches as well. He estimates he helped about 30 people move to “better situations.” He gave cash to many of them — often without holding them accountable.

“I gave them whatever they wanted and spoiled them. You can’t do that,” Walker said. “It ended up being an open ATM throughout my career.”

“We got caught in the recession. We had a ton of undeveloped real estate. It went bad. The banks wanted their money back,” he said.

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