BY Abu Mubarik, 4:32pm July 08, 2024,

Chris Paul on how his parents made him accept $25k instead of $100k when entering the league

Screengrab image via YouTube/Forbes

Chris Paul is an NBA superstar who was first drafted into the league in 2005. Prior to entering the NBA, Paul was a student at Wake Forest. But he put a pause on his college education after making the big move.

When he was drafted, Paul turned down a huge offer from his agent because of his parents. Then 19-year-old, he said he had only $151 in his bank account when he entered the league.

“I had $151 in my bank account when I declared for the NBA Draft,” admitted Paul. According to him, he brought on board a financial advisor who advised him to receive an upfront offer of $100,000 but his parents intervened, leading Paul to accept $25,000.

“My financial advisor who we hired, they said they would send me $100,000 and my parents said, ‘No that’s too much,’” he earlier told Forbes.

He further explained in an interview with “The Shop,” saying; “You know what happened? I was at Wake in Winston. I went to the bank right up the street just so I could see what the statement looked like, right? ‘Cause we young, we don’t know. We ain’t never had no money like this. I went and got the statement that said $25,151… No education came along with it.”

He also revealed how he utilized the money including buying a BMW 750. Following his sharp rise in the NBA, Paul has now earned a total of $389.9 million, according to Spotrac.

In 2022, he made the news when he graduated from Winston-Salem State University with a bachelor’s degree in communications and even performed a generous act by gifting each of his fellow graduates $2,500, Sports Illustrated reported.

Indeed, in the course of his NBA career, Paul has significantly contributed to HBCUs. Besides launching an internship pipeline at North Carolina A&T, Paul also produced a docuseries that casts a spotlight on the challenges affecting HBCU athletic programs, per Sports Illustrated. He also played a role in two basketball showcases about HBCUs.

“I speak about it every now and then when I get a chance, but I think HBCUs are so important for trying to make sure that we level the playing field,” Paul said, according to the Arizona Republic. “Make sure that they’re provided with the same opportunities that a lot of these other schools are blessed with, and the guys are just as talented, if not more talented, they just need the platform. They need people to see them, to believe in them.”

Last Edited by:Mildred Europa Taylor Updated: July 8, 2024


Must Read

Connect with us

Join our Mailing List to Receive Updates