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What happened with Jarmarcus Russell's career earnings?
Posted on 2/10/22 at 9:05 am
Posted on 2/10/22 at 9:05 am
In 2009 JaMarcus Russell signed a 6 year, $61,000,000 contract with the Oakland Raiders, including $32,000,000 guaranteed, and an average annual salary of $10,166,667.
JaMarcus Russell's net worth in 2021 is $4 million. This is according to numerous reputable outlets, including Celebrity Net Worth.
How does one lose $28M in 13 years? Purple drank, casinos, bad investments ???
JaMarcus Russell's net worth in 2021 is $4 million. This is according to numerous reputable outlets, including Celebrity Net Worth.
How does one lose $28M in 13 years? Purple drank, casinos, bad investments ???
27
Posted on 2/10/22 at 9:06 am to boudinman
Beanie Babies
Posted on 2/10/22 at 9:06 am to boudinman
Nyquil stock crashed.
Posted on 2/10/22 at 9:06 am to boudinman
quote:
JaMarcus Russell's net worth in 2021 is $4 million. This is according to numerous reputable outlets, including Celebrity Net Worth.
These never seem reputable to me. He could be broke he could have millions still. Who knows
Posted on 2/10/22 at 9:08 am to Sterling Archer
quote:
Who knows
who cares
Posted on 2/10/22 at 9:12 am to boudinman
quote:
reputable outlets, including Celebrity Net Worth.
Posted on 2/10/22 at 9:15 am to boudinman
Buying a lot of things that did not hold or increase their value.
I dont know how bad his car habit was, but that gets a lot of athletes, especially buying things for other people they never see any return on.
I dont know how bad his car habit was, but that gets a lot of athletes, especially buying things for other people they never see any return on.
This post was edited on 2/10/22 at 9:16 am
Posted on 2/10/22 at 9:16 am to boudinman
I saw him shopping at the Winn Dixie on Siegen a couple years ago. It was honestly surreal to see someone who at one time made 40+ million pushing a shopping cart through produce like me.
Posted on 2/10/22 at 9:21 am to boudinman
quote:
This is according to numerous reputable outlets, including Celebrity Net Worth
Didn’t realize Celebrity Net Worth was reputable.
Posted on 2/10/22 at 9:24 am to boudinman
I’m sure he spent a lot but they have no idea what he has in his bank account. I know for a fact there are some sports stars whose earnings are way off. He could have invested money in property, gold, crypto, whatever that they don’t know about.
Posted on 2/10/22 at 9:25 am to thunderbird1100
I give zero credibility to "Celebrity Net Worth," but there's a great old SI article called Why Athletes go Broke starring Rocket Ismail. Talks about how even guys like Tony Gwynn, Johnny Unitas, Lew Alcindor went broke - guys you would assume are set for life.
Short answer is (1) they blow it because they assume their income will last forever; (2) instead of boring stocks & bonds they invest with a bunch of "friends" who want to start companies; and/or (3) their agents/accountants rob them blind.
LINK
Short answer is (1) they blow it because they assume their income will last forever; (2) instead of boring stocks & bonds they invest with a bunch of "friends" who want to start companies; and/or (3) their agents/accountants rob them blind.
LINK
Posted on 2/10/22 at 9:27 am to boudinman
Those are mind blowing numbers. Assuming there isn't any nuance where guaranteed doesn't mean guaranteed, I don't see how people don't try to get fired immediately.
If I came into 5 mil a year of guaranteed money I'd buy a large plot of land, build a house, set the rest in a conservative mutual fund, and forget about football with quickness.
If I came into 5 mil a year of guaranteed money I'd buy a large plot of land, build a house, set the rest in a conservative mutual fund, and forget about football with quickness.
Posted on 2/10/22 at 9:29 am to Cold Cous Cous
If I had $32 million why would I need to invest in anything. It’s not like I need more money….
Posted on 2/10/22 at 9:34 am to dukke v
I am with u ! 
Posted on 2/10/22 at 9:35 am to boudinman
Who knows?
I just can't figure it out,
Posted on 2/10/22 at 9:36 am to Odysseus32
quote:Russell doesn't get $5 million per year.
If I came into 5 mil a year of guaranteed money I'd buy a large plot of land, build a house, set the rest in a conservative mutual fund, and forget about football with quickness.
He made $39 million in career earnings. Taxes and agent fees took half, so let's say he netted $20m.
Let's say he spent $5m. Down to $15m.
If he's wise, he'll invest prudently and only withdraw 4% per year to live on and spend. That's $600k.
But that's taxable income, so he'll probably net $350k per year.
Now that's a very sizeable amount of net income per year, and you can live a very good life on that, but it ain't $5 million.
Posted on 2/10/22 at 9:36 am to boudinman
Probably should lop off 1/3 of that original amount for his agent
Posted on 2/10/22 at 9:39 am to dukke v
quote:Holy cow - is this sarcasm?
If I had $32 million why would I need to invest in anything. It’s not like I need more money….
You should always invest the principal and live only off the interest.
That's Financial Common Sense 101.
Posted on 2/10/22 at 9:39 am to boudinman
Celebrity Net Worth has NO credibility. Anyone can post
Posted on 2/10/22 at 9:40 am to oreeg
quote:
I saw him shopping at the Winn Dixie on Siegen a couple years ago. It was honestly surreal to see someone who at one time made 40+ million pushing a shopping cart through produce like me.
Dude can't buy his own groceries because he's got money?
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