“I don’t even have money for a cheeseburger,” Allen Iverson’s words to his wife, during their divorce proceeding, reflect that there was a time when Allen Iverson went broke despite earning $155 million from his NBA salary. Then, interestingly, his ex-wife, Tawanna Turner, handed him $61 as per the Washington Post in 2012. But the 76ers legend reportedly turned it all around with his finances from the Reebok deal, which also built a trust fund. But is there any other fund that the NBA icon can use?

On June 7th, AI celebrated his 50th birthday, which means he will gain access to his Reebok trust fund after 5 years. For the longest time, this has been the official report, but since his birthday, another fund with a $50 million value came to light. “#AllenIverson reportedly just gained access to a second trust fund set up during his NBA career 👏🏽💰 The first matured at age 25 — this second one was designed to unlock at 50.” But this was not the only post, as reality hit quicker than the celebrations.

The post further read: “This is the most legendary financial glow-up in sports history. AI wasn’t just a cultural icon on the court — he’s now a blueprint for long-term planning. Two trust funds. One hit when he was 25. The other? Just matured. And the bag was massive.” The news is still rampant on every social media platform, including X. But sorry to break Allen Iverson’s fans’ hearts, the news about another trust fund is false.

There is no credible source supporting it, and so it is not another financial gain for The Answer. On X, Grok AI also shared two cents on decoding the reality of the situation. “The claim that Allen Iverson accessed a $50 million blind trust at age 50 seems unlikely. Credible sources, like Bleacher Report and WWD, indicate a $32 million Reebok trust fund maturing at age 55 in 2030. Social media and outlets like MediaTakeOut mention $50 million but lack evidence.”

Allen Iverson’s financial journey is a dramatic tale of highs and lows, resilience, and long-term planning. But Iverson’s story didn’t end there. Thanks to a unique lifetime deal with Reebok, but the truth remains unchanged. Iverson’s real financial redemption lies in the Reebok trust, though even that comes with a twist, as part of the money is owed to someone due to a prenuptial agreement.

How much can Allen Iverson keep from his real trust fund?

The $50 million deal could link to his initial deal with Reebok. The 2001 MVP signed a 10-year deal worth $50 million during his rookie year. After the first five years, he signed a lifetime deal with the brand and received a special privilege. Because of this, he was guaranteed $800,000 annually for the rest of his life. The reduction was for a good cause, which led to Reebok setting up a retirement trust fund of $32 million for Iverson.

This will be awarded to the NBA legend when he turns 55 on his birthday. However, as per Complex, Iverson had reportedly signed a prenup back in 2010. His ex-wife had filed for divorce that year. But AI made another effort to stay together and agreed to some conditions, such as ‘no physical or verbal abuse’, ‘no infidelity’, and more. And if broken, the entire fund would go to his ex-wife.

Turner eventually decided to take only half of the fund, which means Allen Iverson will receive $16 million when he turns 55. So, that puts him in a better financial condition where he didn’t have enough money to buy a cheeseburger, to now get $16 million in five years. Plus, he is already working as the Vice President of the Reebok basketball division.