When stars like Allen Iverson end up blowing $200 million of career earnings, you understand the importance of financial management and literacy. And imparting wisdom on the same was former Los Angeles Lakers star Lou Williams. In a game where athletes go from earning millions to ending up bankrupt, Williams’ $16 million net worth shows he knows a thing or two about the appropriate usage of his money. However, Lou was not the only one who’s lending out pointers on financial wisdom.
He had company—31-year-old rapper Diamonte Harper, better known as Saweetie. And where did this financial lesson take place? None other than the $5.5 billion home of the LA Clippers, the Intuit Dome. Intuit’s official page made sure everyone knew what was going down, sharing an update with the caption, “Tipping off Financial Literacy Month.”
According to their posts, Saweetie’s presence was a surprise. The rapper jumped right in alongside Williams to talk dollars and sense. “Students got some real money advice from @louwillville and @saweetie,” read another caption, making it clear that the duo had some serious lessons to offer.
Now, before anyone questions Saweetie’s credentials in the financial department, let’s set the record straight. She’s not just sitting on a $4 million net worth—she’s built a brand. Forbes even recognized her on their 30 “Under 30” list. From launching Icy University and a clothing line with PrettyLittleThing to landing partnerships with Morphe and McDonald’s, she knows how to turn collaborations into serious cash flow.
As for Williams, his wealth comes from his NBA career and endorsements, but what makes him an authority? He knows exactly where athletes tend to slip up.
Lou Williams revealed why some NBA stars end up broke
Big-money contracts and lavish lifestyles often go hand in hand when we think about NBA stars. But former NBA star Williams has a different perspective. One that explains why so many athletes find themselves broke just a few years after their careers end.
Speaking on The Underground Lounge Podcast last year, Lou broke it down with a simple example: Imagine an NBA player earning $5 million. Sounds like a dream, right? Well, according to him, that paycheck doesn’t stretch as far as people think.
“In real life, a lot of that pie is gone,” Williams said, highlighting how the money disappears faster than most realize. He believes this financial strain is a key reason why many professional athletes go broke within just five years.
A major chunk of their earnings vanishes before they even touch it. Taxes alone can swallow nearly half, and when you add union dues to the National Basketball Players Association (NBPA), agent fees, and financial management costs, that $5 million paycheck shrinks dramatically.
“Before you look up, you’re probably at $1.5 million off of $5 million, with nothing!” he pointed out. While $1.5 million is still a solid amount, Lou Williams emphasized how fast it goes when players try to maintain their high-profile lifestyles. “These Benzes we keep talking about and these mansions and s—, these girlfriends and these Chanel bags … before you know it, you’re not a millionaire anymore. You’re a high thousandaire.”
The fact that Williams has still managed his Millionaire status shows he managed to avoid these common mistakes. Something the students at Intuit Dome can learn from him.
The post Lou Williams Joins 31YO Rapper in Imparting Valuable “Advice” to Young Minds at $5.5B NBA Franchise’s Home appeared first on EssentiallySports.
