Did you know that Scottie Pippen once bought a plane that he couldn’t even fly? Scottie might have been severely underpaid during his time with the Chicago Bulls, but that hasn’t stopped the basketball legend from raking in the wealth. But what exactly is Scottie Pippen’s net worth?
While some outlets dispute the exact value of the former NBA great, we’ve done some digging and think we’ve found a fairly accurate answer. Scottie Pippen’s net worth has been a rollercoaster that doesn’t seem to be stopping. Let’s explore how the 56-year-old’s wealth has evolved over the decades.
Scottie Pippen’s NBA Career & Contracts
Scottie Pippen played for the Chicago Bulls from 1987-1998 and signed a contract extension in 1991. Throughout his 17 NBA seasons, Pippen raked in just under $110 million before his retirement. The team seriously underpaid Pippen, considering legend Michael Jordan’s contract at that time.
Pippen made $67.4 million over a five-year contract when he joined the Rockets. That’s roughly $12 million a year. It was the first time in Pippen’s career that he was paid according to his exceptional skill set.
After just a year, Pippen was traded against six other players and joined the Portland Trail Blazers. Again, this trade earned him a slight pay bump. While playing in Portland, Pippen was bringing in $15 million a year on average. In his last two seasons in the NBA, Scottie returned to the Chicago Bulls and added another $10.3 million.
He briefly returned to playing professional basketball with the Torpan Pojat and Sundsvall Dragons at 42. Torpan Pojat are a Finnish team, while Sundsvall Dragons play from Sweden. However, it wasn’t just basketball that made Scottie Pippen’s net worth what it is now.
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Why is Scottie Pippen’s net worth only $20 million?
So, what’s Scottie’s current net worth? According to Celebrity Net Worth, the NBA Hall of Famer has a net worth of $20 million. According to various online sources, Scottie Pippen has lost over $120 million since becoming a millionaire from professional basketball and endorsements.
His poor choices in spending range from real estate to airplanes and more. Let’s explore some of his worst decisions over the last thirty years.
Real Estate
While playing for the Chicago Bulls, Pippen invested $3.25 million in real estate on the city’s notorious South Side. The investment failed. In 2021, Pippen and his then-wife Larsa Pippen sold their Fort Lauderdale, Florida, mansion for $10.5 million. The estranged couple included $1.5 million worth of cars in the sale. However, it had taken over a decade for them to finally sell the property.
At one point, they listed the home for $40,000 monthly rent. Realtors argued that the property’s style was the reason it took so long to sell. It took an enormous team effort to finally sell the home.
Broken Gulfstream Jet
In 2002, Pippen bought a Gulfstream jet for $4.3 million. The only major downside was that the plane didn’t work! He was forced to pay an extra $1 million to get the thing up in the skies.
Along with a failed airline company, Pippen and Larsa attacked former player Christian Laettner in 2016 for scamming them out of $600,000. While Larsa Pippen voiced her rage on Twitter (now X), Pippen eventually won a judgment against Laettner.
Also Read: Who Is Larsa Pippen? Everything You Need To Know About Legend Scottie Pippen’s Ex-Wife
Lawsuits
By 2010, Pippen had won a $2 million judgment against the firm that sold him the plane. A year later, he was awarded a further $2.37 million from a Miami-based businessman and CF Air involving another plane!
Pippen blames many of his financial woes on his now-bankrupt financial advisors. Pederson & Houpt received an $8 million suit from Pippen. Apparently, Pippen also sued his accountant for failing to help him better manage his finances. Robert Lunn was sued by Pippen for $1.5 million. However, Lunn was sentenced to three years in prison for repeated fraud convictions.
Scottie Pippen’s Women and Children
Scottie Pippen might have been worth a lot more today had he just treated his women well. A former girlfriend of Pippen sued the star for $9,999 after she paid her own way to visit him in Chicago.
The girlfriend was not aware that Pippen was actually married at the time. He promised to pay his girlfriend back but never did. Pippen eventually told her about his wife and young child during sex on Valentine’s Day in 1988.
Pippen had to be taken to court after he refused to acknowledge at least two of his children, Sierra and Taylor. Taylor was born first with her twin, Tyler, who tragically died nine days after birth. Taylor’s mother had to sue to prove paternity.
Pippen paid all medical bills and insurance for the children but allowed their mothers to retain full custody. Sierra’s mother briefly lived with Pippen. The pair separated after Pippen was arrested for domestic violence.
Pippen has four other children with his ex-wife, Larsa. According to Marie Claire, all of them live lavish lifestyles like the Kardashian children. In 2021, Scottie and Larsa finalized the divorce after filing it for the first time in 2016. Larsa received half of Scottie’s funds during their marriage until they split in 2016. The funds in his Chicago Bulls 401K account are included in community property and part of their marital estate.
How Does Scottie Pippen’s Net Worth Compare To Michael Jordan
Despite his incredible skill set, Pippen was only paid $18 million for a seven-year contract in 1991. During 1991-98, Scottie made $2.6 million per year, while Michael Jordan is estimated to have made over $30 million a year.
Pippen’s net worth is estimated at $20 million in 2024, while MJ is the richest athlete of all time. Thanks to his deals with Nike and other ventures, Jordan has built a $3 billion empire.
Scottie Pippen’s Income Source After Retirement
Scottie Pippen’s net worth in 2024 was mostly based on endorsement deals. The basketball legend has signed endorsement deals with a wealth of companies. Some sponsors include Nike, McDonald’s, Visa, Right Guard, Coca-Cola, and more!
Despite spending the majority of his time being underpaid at the Chicago Bulls, Pippen racked up more money than Jordan in his NBA career. While Pippen made $110 million, the 5-time MVP of the league made $94 million in his NBA career.
