EXPLAINED: How LeBron James and Stephen Curry Lost More Than Half of Their Mammoth Salaries in 2018?
Benjamin Franklin rightly said once: ‘In this world, nothing can be said to be certain, except death and taxes.’ Ask any rich individual, and they’ll be happy to reveal how much the latter may damage you. Being an NBA player is a great method to guarantee you have a reliable stream of income. In the NBA, a rookie gets paid a minimum of $925,000. So Imagine how much LeBron James would make.
They rank higher than the majority of Americans just based on this value. A player’s salary only rises as they grow better and play in the league longer. The league’s stars, who have demonstrated their value and astounded everyone, often receive compensation in line with their performance.
Ask LeBron James and Stephen Curry, who previously received less than 50% of his annual pay. LeBron didn’t leave Cleveland for the beautiful weather when he relocated there. Additionally, he was giving up the chance to keep his cash.
Stephen Curry was handsomely rewarded by the Warriors in 2017 after spending four years on what is regarded as the greatest heist in NBA history. He became the first NBA player to sign a contract for more than $200 million when he agreed to a 5-year, $201 million agreement.
LeBron James and Steph Curry lost almost 50% of their salaries in 2018
Stephen Curry made an NBA-high $34.7 million in compensation from the NBA alone in 2017–18. The taxes on Steph’s $34.7 million NBA-high salary in 2017 were astronomical as well. Steph only received $15.26 million of that $34.7 million after all deductions.
Playing and living in California is brutal for athletes. Estimated with @sportstaxman that Steph Curry netted only 44% of his 2017-18 salary. pic.twitter.com/lKgFG4nw3l
— Darren Rovell (@darrenrovell) June 30, 2019
Even a multimillionaire like LeBron James would have had trouble financially with that one. He lost out on over $17 million.
The Cavs paid LeBron $33.2 million this season. We estimated how much he actually took home. Here’s our math. pic.twitter.com/Q18ZwI50Jx
— Darren Rovell (@darrenrovell) June 4, 2018
In other words, playing in the NBA is glamorous and expensive in terms of taxes. LeBron is fortunate to have several endorsement deals. His endorsements brought him almost $100 million this year. Being the King is a fantastic thing. Despite paying a lot of taxes, Stephen Curry has amassed a net worth of over $160 million because to his investments and endorsement contracts.
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