In his storied career, Charles Barkley had no shortage of big paydays. His approximate career earnings of $40 million are enough to prove that Chuck never had it short when it came to cash. Now, with his analyst role with TNT, Barkley has made a significant fortune, even in his retirement.
However, not all millionaire athletes can keep hold of their fortunes, and a lot of pro athletes have gone broke because of that. The same could’ve happened to Charles Barkley, but Julius Erving’s advice saved him. Talking to Shannon Sharpe on the Club Shay Shay podcast, Chuck revealed how Dr J’s words helped him see the light. According to the former Sixers star, he became an “idiot” after getting his big cheque and bought four cars. Erving told him that people would know who he is even no matter which car he drives, so driving a cheaper car helps save a lot of money, which will come in handy down the line.
“This money [has] to last you for the rest of your life’… When you [are] 55, how much money are you going to have left? That’s the key,” Barkley said to conclude his story and the lesson provided to him by one of the NBA’s greats.
But saving on cars doesn’t make a significant difference to someone who was a chronic gambler like Charles Barkley. His astonishing loss on the poker table could’ve quickly sent him along a dark path.
Charles Barkley Reveals His Gambling Problems
Speaking on the same podcast, Barkley revealed his problems with gambling. Even after losing money on the table, he was stubborn to the end and ended up losing millions in the process, which could’ve been restricted to a few thousand dollars.
“There’s probably been 25 times I’ve lost a million,” said Barkley to Shannon, who got to know that the NBA legend only made $7 million from winning compared to the massive losses. However, his losing spree forced him to give up gambling for two years before making a return, but by then, Chuck wised up thanks to his friends.
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With the guidance of Julius Erving and his close circle of well-wishers, the 1993 NBA MVP sustained a wealthy life. If not, we’d probably have read about Charles Barkley in the list of top athletes who went broke.
