“The Worm” was known for hobbies that, at the time, were considered extravagant by some, but are now more widely accepted as gender identities are understood as fluid. In the 90s, Rodman wore drag and even donned a wedding dress to promote his autobiography, Bad As I Want To Be. She dyed her hair often, once looking for a multi-colored rainbow look. In his personal life, Rodman was associated with celebrities such as Madonna and actress Carmen Electra.
His unique brand, combined with his undeniable talent as a rebounder, earned him millions over the course of his career. The former champion earned approximately $ 27 million at its peak, according to Spotrac.com. But now, Celebrity Net Worth and other sites estimate her net worth to be only around $ 500,000. At one point, the man did not have enough to pay child support, claiming he was “sick and bankrupt.”
So what led to the downfall of this once-wealthy athlete?
Dennis Rodman fell in love with a scammer’s financial scam
Perhaps one of the biggest sucks for money was not his fault, other than trusting someone else with his wealth. According to Illustrated Sports Dennis Rodman was among many athletes swindled by a woman posing as a financial advisor. The woman in question, Peggy Ann Fulford, earned the trust of wealthy clients by bragging about fake Harvard degrees and success on Wall Street. He finally met Rodman through a mutual friend in the 2000s, and Rodman came to trust him with his finances. The two were so close at one point that he even thanked him in his 2011 Hall of Fame speech as “family” who were “taking care” of him.
The entire fiasco was clouded by red flags, and Rodman at one point wondered why the power went out at a Florida condo Fulford bought. In another incident, Rodman’s expenses were raised at a child support hearing, which included a hefty Victoria’s Secret charge, after he was unable to pay. “I have never been to Victoria’s Secret,” Rodman later told a friend. Rodman’s former assistant noted that he had fallen behind on life insurance payments.
At all times, Fulford claimed that Rodman’s financial problems were due to his own spending habits and took full control of his accounts. All of that went up in smoke when Fulford was sentenced to 10 years in prison for the interstate transportation of stolen goods.
Dennis Rodman’s various fines and legal issues
That does not mean that the basketball champion did not have some important expenses. According to the Los Angeles Times , Dennis Rodman owed $ 860,376 in child and spousal support in 2012. He also allegedly spent significant dollars on strip clubs and alcohol, but much of that information is in agreement with Fulford himself, which leaves in clear how much Rodman really spends and what was lost in the scam
Por FanBuzz Rodman also had other clashes with the law that cost him, including paying $ 2,000 for drunk driving and being arrested along with his wife in another incident over a domestic disturbance call. Some of his other major expenses included $ 200,000 he had to pay after kicking a referee; $ 20,000 that was fined after leaving his team to fight the Hulk Hogan during the 1998 NBA Playoff Finals; An additional $ 20,000 after starting a fight with another referee; and $ 68,000 after skipping preseason camp in 1992.
Now that you know all of that backstory, it’s no wonder Rodman has run out of money in his bank, at least compared to other billionaire athletes.