Joe Smith Net Worth: How the Former NBA Star Lost His Fortune

Joe Smith Net Worth
Joe Smith Net Worth

Joe Smith is a former NBA basketball player who spent 16 years in the league. The Golden State Warriors selected him first overall in the 1995 NBA draft, and he had a promising start to his career.

However, he never lived up to the expectations of being a number-one selection and became a journeyman, playing for 12 different teams in his career. Since his retirement in 2011, he has encountered financial and personal difficulties. Joe Smith’s net worth, career earnings, and current situation are detailed below.

What is Joe Smith Net Worth and Salary?

Joe Smith is a retired professional basketball player from the United States with a net worth of $100,000. Joe Smith was a member of the NBA from 1995 until 2011. The Golden State Warriors selected Smith with the first overall pick in the first round of the 1995 NBA Draft.

He played for the Warriors until 1998 before moving on to the Philadelphia 76ers, Minnesota Timberwolves, Detroit Pistons, Milwaukee Bucks, Denver Nuggets, Chicago Bulls, Cleveland Cavaliers, Oklahoma City Thunder, Atlanta Hawks, New Jersey Nets, and Los Angeles Lakers.

Smith concluded his long journeyman career with 11,208 points, 6,575 rebounds, and 868 blocks. Smith has played for 12 different NBA organizations during his career.

You can also read our earlier article, which is linked below.

Early Career and Success

Joe Smith was born in Norfolk, Virginia on July 26, 1975. He attended the University of Maryland, where he rose to prominence as a college basketball star. In 1995, he received the Naismith and Wooden trophies as the national player of the year. He has guided his squad to two NCAA tournament Sweet 16 appearances.

Smith chose to join the NBA draft after his sophomore year, and the Golden State Warriors selected him first overall. He agreed to a three-year, $8.53 million rookie contract. He had a promising first season in the league, averaging 15.3 points and 8.7 rebounds. He was chosen to the All-Rookie First Team and came in third in the voting for Rookie of the Year.

Smith’s stats improved in his second season, averaging 18.7 points and 8.5 rebounds. In 1997, he also made his first and only All-Star appearance. He was a restricted free agent in 1998 after failing to reach an agreement with the Warriors on a contract extension.

Financial Woes and Personal Life

Smith earned $61 million in his NBA career, but he also spent most of it on expensive cars, houses, jewelry, clothes, and other luxuries. He also made bad investments, trusted the wrong people, and did not save enough for his future.

Smith admitted that he was financially irresponsible and did not know how to manage his money properly. He claimed that peer pressure played a role in his decision to follow the extravagant lifestyles of other NBA players.

Joe Smith
Joe Smith

Smith also had personal problems that affected his finances. He divorced his first wife, Yolanda Smith, in 2007 after she accused him of cheating on her with rapper Nelly’s girlfriend, Shantel Jackson. He had to pay alimony and child support for their two children.

Smith married his second wife Kisha Chavis in 2018, but they are currently going through a divorce as well. Chavis accused Smith of leaving their home after she started an OnlyFans account to make money online.

Height, Weight & Body Measurements

Joe Smith’s height is 6 feet 2 inches, his weight is unknown, and his physical measurements will be updated shortly.

Secret Contract Scandal and Journeyman Status

Smith signed a six-year, $80 million offer sheet with the Miami Heat, but the Warriors matched it and kept him. Smith, on the other hand, did not want to continue with the Warriors and requested a trade. In exchange for Clarence Weatherspoon and Jim Jackson, he was transferred to the Philadelphia 76ers.

Smith was moved to the Minnesota Timberwolves in exchange for Michael Cage and Jerry Stackhouse after only 28 games with the Sixers. He agreed to a one-year, $1.75 million contract with the Timberwolves in the hopes of landing a better deal later.

However, it was later revealed that Smith had a hidden agreement with Timberwolves owner Glen Taylor and general manager Kevin McHale to sign three one-year contracts at below-market value in exchange for a lucrative long-term contract. The NBA’s salary cap rules and collective bargaining agreement were violated.

The NBA discovered the secret contract in 2000 and severely fined the Timberwolves. They fined them $3.5 million, deducted five first-round draft picks from them, and terminated Smith’s contract. Smith became an unrestricted free agent and signed a one-year, $2.5 million contract with the Detroit Pistons.

After the controversy, Smith never regained his All-Star form and became a journeyman in the NBA. He went on to play for ten more clubs in his career, including two with the Sixers and two with the Timberwolves. In his career, he averaged 10.9 points and 6.4 rebounds and retired in 2011.

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