“Speaking as a Black man,” Cam Newton Recalls Becoming His Family’s First Millionaire as Allen Iverson Gets a $50 Million Boost

Allen Iverson recently gained access to $50 million he didnt even realize he had, thanks to two blind trusts set up by his team during his playing days.

One matured when he turned 25, and the other just unlocked earlier this month as Iverson celebrated his 50th birthday.

Its a much-needed windfall for someone who reportedly earned between $150 and $200 million over his career, only to lose nearly all of it.Fortunately, Iversons team anticipated his spending habits and put safeguards in place to protect his future.

His net worth had dwindled to just around $1 million, but with this long-awaited payout, that number is about to change dramatically.Cam Newton reflected on Iversons story, sharing how he, too, once found himself in a similar situation when he became the first millionaire in his family.

That kind of wealthespecially when it comes quickly and at a young agecan be overwhelming.For many young athletes, particularly those from underprivileged backgrounds, theres no roadmap for navigating that level of success.

Cam described the feeling as survivors remorsea sense of guilt that comes with making it out when others around you havent.Bad guidance could kill you.

To understand what an individual has to go through being the first.

I cannot speak to a lot of cultures, or ethnic groups, or races, but when I am talking, Im speaking as a black man.

Being the first to not only be a millionaire, just to have $100k, or $10k that you can just touch.

Thats tough.

You have survivors remorse, almost.

You feel obligated to help your mom, dad, homeboy, brother, cousin, uncle, etc.

Sometimes you just got to help yourself.When asked how he found trustworthy people to guide him through those early years of wealth, Newton admitted its not easy.

You dont really know who to trust until youre in that situation, he said.

According to the former Panther, the only person you can truly rely on is yourself.However, Iversons problems certainly werent due to him feeling obligated to help his mom, dad, brother, cousin, etc.

Rather, the NBA legend had bad and ill-advised spending habits.

Despite making over $200 million during his time on the court, he was practically broke when he retired.He indulged in a lavish lifestyle, spending insane amounts of money on things like clothes, jewelry, luxury cars, and entertainment, including frequent trips to strip clubs where hed reportedly spend tens of thousands of dollars in a single night.Luckily for Newton, he surrounded himself with the right people and avoided the financial pitfalls that tripped up Iverson.

But thanks to those forward-thinking trust funds, Iverson now has a second chanceone that could restore not just his bank account, but also his long-term security.Cam Newton didnt earn as much as Iverson during his playing career, but he still has a solid net worth of $50 million and earns about $10 million a year.

He earned $133 million from salary alone during his time in the NFL.

He also earned millions from endorsements from brands like Under Armour, Gatorade, etc.The post Speaking as a Black man, Cam Newton Recalls Becoming His Familys First Millionaire as Allen Iverson Gets a $50 Million Boost appeared first on The SportsRush..

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