Did Michael Beasley File Bankruptcy?

When legends like Allen Iverson, who once made over $150 million in NBA earnings, go bankrupt, you know the NBA lifestyle comes at a cost. In fact, back in 2009, Sports Illustrated dropped a bombshell stat: nearly 60 percent of NBA players find themselves bankrupt within just five years of leaving the league. So, it’s no wonder that many fans were recently rushing to search engines with their doubts: Did Michael Beasley file for bankruptcy?

But let’s clear the air—despite the online buzz, there’s no public record or confirmed report that Michael Beasley has ever filed for bankruptcy. In fact, the picture painted by recent estimates shows quite the opposite. According to Celebrity Net Worth, Beasley’s net worth in 2025 is pegged at around $10 million. That’s a solid number, especially for someone who hasn’t been in the NBA spotlight for a while.

Over his 11-season run in the NBA, along with a few years playing overseas, Beasley reportedly pulled in about $33.7 million in career salary. These numbers suggest he’s managed to preserve a good chunk of his wealth, certainly not the profile of someone who’s had to file for bankruptcy. He’s even opened up about his past in interviews and podcasts, sharing cautionary tales from his younger years. Beasley once admitted to blowing large amounts of money on flashy cars, and now urges younger players to “avoid bankruptcy” by learning how to manage their finances.

So, there has been no statement from Michael Beasley or any reliable media confirming a bankruptcy. Quite the contrary—available insights suggest he’s doing just fine financially, even if he made some questionable purchases in his early career. He once said that during his rookie contract, he had a dozen luxury cars. These days, he uses that story to drive home a lesson. In his words, athletes should consider trust funds or savings plans to avoid the kind of careless spending that “runs people into bankruptcy.”

So far, there are no reports of financial trouble, lawsuits, or asset seizures tied to Beasley. His net worth remains intact. And unless something drastic changes, there’s no reason to believe he’s gone broke or defaulted on anything. If anything, he has only added to his wealth even outside of his basketball earnings.

Michael Beasley’s sources of income, aside from his basketball career (both NBA and overseas)

The former NBA star may be best known for his time on the court, but his income streams stretch well beyond basketball. Over the years, the former New York Knicks star has found ways to expand his financial portfolio through a variety of ventures.

One major source of income has come from endorsement deals. Beasley has collaborated with big-name brands like Nike, capitalizing on his early success as the No. 2 overall draft pick. While exact earnings haven’t been publicly disclosed, his strong college run and early NBA exposure undoubtedly helped land lucrative agreements. That said, some off-court turbulence may have impacted later opportunities. Off the court, Beasley has also invested in real estate.

He owns several high-end homes in cities like Miami, Minnesota, and New York. His total property value is estimated to fall between $3 million and $5 million. More recently, Michael Beasley has also stepped into public speaking and the media. His appearances in podcasts like Common Denominator, along with his advocacy for mental health and financial literacy, not only reflect personal growth but may also bring in speaking fees or partnership income. All-in-all, the ex-NBA star is nowhere near bankruptcy.