The story of former hoopers once having mega contracts and ending up bankrupt is not new. Allen Iverson, Dennis Rodman are a few of the biggest names to experience this in their lifetime. Adding himself to this list, unfortunately, is Shawn Kemp. Part of the electrifying duo with Gary Payton that led the SuperSonics to establish themselves as a serious contender during the 90s. His ferocious dunks and never-say-die attitude made him one of the best forwards of all time.

Despite being great and earning a mega contract, the 55-year-old lost the majority of his NBA income. Why? Personal problems, battles with substance abuse affected him, which led to bad decisions. And the result? Major losses to his name. Now, let’s look at his recent situation.

What is Shawn Kemp’s net worth?

As per Celebrity Net Worth, Shawn Kemp’s recent net worth is around $5 million. Yes, that’s close to a 95% drop from his career income, which was approximately $91.6 million. Reportedly, it was even worse in 2022, as it dipped below $1 million. Legal fees over multiple court cases, and being a father of seven children by six different women, did more damage to his pocket, as payment for child support is no joke. But there were professional disputes too.

His sports bar, Oskar’s Kitchen, closed in 2015. He’s now part of the cannabis industry with two dispensaries in Seattle. But that too can’t fetch him the maximum return. Why? According to The Washington Post, Kemp owns just five percent of the company, and Main Street Marijuana holds the other ninety-five. Any profit will also be distributed accordingly, and being a minority owner won’t help him earn major returns. Unlike his contract on the hardwood.

Shawn Kemp’s NBA contract breakdown

Being part of the league for 14 years, he left a lasting memory as a cornerstone of the SuperSonics’ success. His total contracts in the league amounted to a reported salary of over $91.6 million. Shawn Kemp’s career earnings got a major boost when he promptly signed a seven-year deal for $98 million with the Cavs, and in his first season, he made the All-Star team while leading them to the playoffs. But soon, that 7-year contract became a burden for the team to trade.

As the player in the lockout-shortened 1998-99 season, Kemp reported to training camp at a whopping 315 pounds. But then the Cavs found a way to shed his salary in a three-team trade as Portland became a new home for Kemp. But in his two seasons with the team, he would start just 8 games in total and was later waived from his contract. In 02, he agreed to a contract restructuring that allowed him to forfeit more than $25 million of his remaining salary–$46.5 million as per ESPN. Though the team still paid him a reduced amount over the following decade.

Being a free agent, his next destination came in Orlando. “This is a great opportunity for me,” the then 33-year-old Kemp said in a statement released by the Magic. It turned out to be his last year in the league, where he would start 55 games, an improvement from his time being a TrailBlazer.

Shawn Kemp’s career earnings

Shawn Kemp’s endorsement

His $91.6 million is not bad when you consider his nemesis, Bulls legend Michael Jordan made $94 million in earnings. Just like MJ has Nike, at first Kemp had Reebok. “The Reign Man” signed a deal with the Canton-based shoemaker in 1992, and he was the one wearing the iconic Kamikaze shoe silhouette. Leading the team, earning All-Star accolades, which made Reebok extend his deal in 1997. His new contract was 5 years for a reported $11.2 million. But bad news struck again.

They left him high and dry after disparaging comments against the brand. However, the 6x All-Star proceeded to fight in court and sued the company– $4.1 million for unfair termination of his shoe deal. Reebok fought back and countered with its own lawsuit, accusing Kemp of advancing more than $1 million in royalties. The result? That same month, Shawn dropped all the claims in his lawsuit and agreed to pay an undisclosed amount to settle the counter case against him.

Even recently, the court cases continue to haunt him. He pleaded guilty to an assault charge in May as part of a plea agreement. No one was hurt in the March 2023 g– incident. But now he will serve 30 days of electronic home monitoring. Additionally, The Seattle Times reported that the 6x All-Star must also serve one year of state Department of Corrections supervision and complete 240 hours of community service.