Paul Pierce’s net worth will take a hit due to his settlement with the Securities and Exchange Commission (SEC) for crypto violations. The basketball legend promoted cryptocurrencies, which led to his eventual settlement.
As a result, the former NBA champion settled with the SEC for $1.4 million. He was penalized $1.1 million, while around $244,000 worth of EthereumMax tokens will be withdrawn from his crypto wallet.
This article will reveal Paul Pierce net worth as of February 2023. We will look at his career earnings and how the latest settlement will affect his financial status.
Paul Pierce net worth is estimated in millions of dollars as of February 2023
The latest settlement with the SEC will negatively impact Paul Pierce’s net worth, but he should have no trouble paying the penalty. As of February 2023, the Boston Celtics legend was worth around $70 million.
Considering Pierce earned almost $200 million from his NBA contracts alone, it’s no surprise that he’s one of the richest former players. The small forward was one of the deadliest offensive players in the league during its heyday.
The 6-foot-7 striker ended his career in 2017, just after a massive salary cap increase. Considering his peak was in the 2000s, Pierce never received more than $20 million a year for his services.
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During the 2009-10 season, Pierce was paid $19.8 million with the Celtics. It was the most successful year of his career, which he finished with the LA Clippers. His contract with the Clippers was minimal and worth only $1.1 million.
Paul Pierce’s net worth has increased due to all the endorsements he has had. During his prolific NBA career, the forward has been affiliated with many major companies and brands, including Microsoft, Spalding, and Powerade.
It is estimated that he earned $2-3 million a year from his endorsement deals.
Pierce was banned from promoting crypto
Cryptocurrencies have become very popular over the past decade. For this reason, it is no surprise that many NBA players have been paid to promote crypto and NFTs. Unfortunately, the collapse of FTX caused many crypto owners to lose a lot of money.
Paul Piece has been banned from promoting crypto asset securities for three years due to the latest incident.
Many other popular athletes including Steph Curry, Shaquille O’Neal and Tom Brady have promoted cryptocurrencies in the past and that is unlikely to stop anytime soon.
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Given the popularity of crypto lately, the NBA might decide to step in and stop its players from promoting such products and services.