Hill Harper is well known as a socially conscious celebrities in Hollywood. Cherise Nicole (CNikky) and our associates EURweb recently attended Hill’s Empower The Youth Benefit at the Grauman’s Chinese Theater in Hollywood. The benefit was to raise money to educate our youth on financial literacy. Celebs like actress, Elise Neal, reality star and publicist, Kita Williams and r&B singer, Bilal were in attendance and they were happy to share their thoughts on folks mis-managing their money!
We asked Hill if he gives President Obama advice on how to balance the budget:
“Well listen, I think that he has enough on his plate. He’s doing his thing and he’s doing a great job and I want to try to support him in whatever way I can.”
“Between the two of us I am the one with the degree in government …so…maybe I…No Just joking. He’s doing a great job.”
We asked Kita Williams if Terrell Owens learned his lesson in finances after losing all of his money:
“I think so, I think one thing that athletes got to realize is Get rid of the BLING and learn some things! And part of the thing they need to learn is investments, what assets are. Buying a gold chain or buying a diamond watch is not an investment. It’s buying a house, it’s investing your money into stocks. Understanding what those things are. And it’s sad because a lot of people have other people take care of their money for them. They give them an allowance, they don’t keep track. But if you have a financial manager that’s overseeing everything, who’s watching him? You understand? That’s why Oprah signs her own checks!”
Read below for a few of the athletes that fell victim to mis-managing their money.
Watch the interview below:
According to Yahoo:
Here are 15 athletes that lost their money after making millions.
1. Allen Iverson kept spending ~$360,000 every month after he fell out of the NBA
2. Robert Swift flamed out of the NBA at age 24 after skipping college, and his house was later foreclosed on
3. Antoine Walker lost $110 million after taking out massive loans for his real estate ventures
4. Marion Jones lost about $7 million after secretly using steroids
5. Mike Tyson’s incarceration lost him between $300 million and $400 million
6. Curt Schilling says he will lose all $50 million he saved playing baseball on a failed video game venture
7. Tennis player Arantxa Sanchez Vicario says her parents took all of her $60 million in career earnings
8. Lenny Dykstra’s supposed business sense cost him about $50 million
9. Michael Vick’s animal abuse lost him about $130 million
10. Evander Holyfield lost about $250 million after failed business ventures
11. Rollie Fingers thought a pistachio farm would be a good idea and lost about $8 million
12. Latrell Sprewell lost between $50 million and $100 million after some violent outbursts
13. Kenny Anderson lost about $60 million to his ex-wives
14. Deuce McAllister lost about $70 million when his car dealership went bust
15. Scottie Pippen’s legal woes lost him about $120 million
People still don’t seem to learn. We still live in a society where flossin’ things and reputation has become more important than being smart with your money. Hopefully people like Hill will help educate us and things will start to change?