What is Larry Johnson’s Net Worth?
Larry Johnson is a retired American professional basketball player who has a net worth of $500 thousand.
Larry Johnson played in the NBA from 1991 to 2001, first with the Charlotte Hornets and then with the New York Knicks. Prior to that, he was a star college basketball player at Odessa and UNLV, and won the NCAA championship with the latter school in 1990. He earned NBA Rookie of the Year honors in 1992 and was a two-time NBA All-Star in 1993 and 1995. Johnson retired with 11,450 career points, 5,300 rebounds, and 2,298 assists. Johnson played on the U.S. men’s national basketball team. He won a gold medal at the FIBA World Championship in Canada in 1994 and a gold medal at the summer Universiade in 1989 in Duisburg. He has worked in the Knicks’ front office after his retirement. Johnson has also appeared in several TV shows and movies, including “Family Matters”, “Space Jam”, and “Eddie”.
Career Earnings and Financial Problems
During his NBA career Larry Johnson earned $83 million in NBA salary. Unfortunately, in March 2015 Larry filed for bankruptcy in California. According to the filing he had $800,000 worth of assets and $300,000 worth of debt, roughly half of which was in the form of unpaid child support payments and $90,000 was owed to the IRS. Soon after the filing, one of his ex-girlfriends claimed that he was only paying $1,000 per month instead of the $11,000 he had agreed to pay. This ex-girlfriend also claimed that Larry had previously told her that in 2006 he put $26 million into a trust to avoid paying debts. She also claimed that Larry was making $250,000 per year and had $700,000 in retirement accounts at that time. He eventually agreed to pay this ex-girlfriend $55,000 over time and handed her the rights to a $1 million home in Aliso Viejo, California. After settling with this ex, Larry filed to rescind the bankruptcy.
Early Life and High School
Larry Johnson was born on March 14, 1969 in Tyler, Texas. He attended Skyline High School in Dallas, and in his senior year in 1987 was a member of the McDonald’s High School All-American Team.
Johnson began his collegiate career at Odessa College, averaging 22.3 points per game as a freshman during the 1987-88 season. In his sophomore season, he averaged over 29 points per game. Johnson was named NJCAA Division I Player of the Year in both seasons, making him the first and only player to win that honor in both years played. For his junior season, he transferred to the University of Nevada, Las Vegas, and proceeded to win the 1990 NCAA championship with the UNLV Runnin’ Rebels. The team set a number of records in the tournament, including the largest margin of victory and highest score (103-73) in an NCAA championship game. Johnson and the Runnin’ Rebels had another successful season in 1990-91, recording a perfect regular-season record of 27-0. However, the team fell to eventual champion Duke in the Final Four. Johnson won numerous honors for his final season at UNLV in 1991, including NABC Player of the Year, Naismith College Player of the Year, and the John R. Wooden Award.
In the 1991 NBA draft, Johnson was chosen with the first overall pick by the Charlotte Hornets. He made an immediate impact in his first season with the team, averaging 19.2 points per game and winning the NBA Rookie of the Year Award. Johnson had his best statistical season the next season, averaging 22.1 points per game while recording a .526 field goal percentage. Moreover, he was voted to start in the 1993 All-Star Game, making him the first Hornet ever to earn that honor. Johnson had a less successful 1993-94 season due to a back injury that caused him to miss 31 games. He bounced back in 1994-95 with a career-best 81 three-pointers, nearly 60 more than in his first three NBA seasons combined. Johnson also earned his second NBA All-Star Game selection. In his final season with the Hornets in 1995-96, he averaged 20.5 points per game.
New York Knicks
Johnson was traded to the New York Knicks in 1996. In his first season with the team, he recorded a new career-low average of 12.8 points per game. Although he would ultimately be unable to return to his All-Star form, Johnson served a critical role on the Knicks’ Eastern Conference championship team in 1999. In Game 3 of the Eastern Conference Finals, he made a four-point play that clinched a 92-91 victory for the Knicks. The team ended up beating the Indiana Pacers in six games, moving on to the NBA Finals against the San Antonio Spurs. Ultimately, the Spurs won the championship in five games. The Knicks made it back to the Eastern Conference Finals in 2000, but this time lost in a rematch with the Pacers. Johnson played one more season with the Knicks in 2000-01, during which time he recorded a career-low average of 9.9 points per game. He subsequently announced his early retirement from basketball due to chronic back problems.
Beyond the NBA, Johnson played for the US men’s national basketball team on a few occasions. In 1987, he was a member of the team that won the silver medal at the FIBA U19 Basketball World Cup. Two years later, Johnson helped the US win gold in the Summer Universiade in West Germany. In 1994, he helped lead the US to gold in the FIBA Basketball World Cup in Canada.
Johnson has appeared in some films and television series. In 1993, he appeared in an episode of the television sitcom “Family Matters” as his alter ego ‘Grandmama.’ Three years later, he appeared in the comedy films “Eddie” and “Space Jam,” playing himself. In the latter film, Johnson appeared alongside such fellow NBA players as Charles Barkley, Patrick Ewing, and Muggsy Bogues.
Johnson previously converted to Islam. He has five children with four different women. In 2015, he filed for bankruptcy in California on account of owing over $120,000 in unpaid child support.