The net worth of Derrick Coleman, a former American professional basketball player, has been estimated to be around $2 million.
Derrick Coleman, a six-foot-ten power forward and center, was born in Mobile, Alabama in 1967.
From 1986 to 1990, he played college basketball at Syracuse University in upstate New York and was recognized as the 1990 Big East Conference Player of the Year.
The New Jersey Jets selected Coleman as the first overall pick in the 1990 NBA Draft.
Coleman was a member of the Jersey team until 1995.
After four seasons with the Philadelphia 76ers, he played for the Charlotte Hornets from 1999 to 2001, the 76ers again from 2001 to 2004, and the Detroit Pistons from 2004 to 2005.
After being named the NBA Rookie of the Year in 1991, he went on to become an NBA All-Star three years later.
The All-NBA Third Team included Coleman on two occasions.
He had 12,884 points, 7,232 rebounds, and 1,051 blocks during his career and was involved in the Pacers-Pistons on-court confrontation in November 2004.
Coleman was a member of the U.S. team.
At the 1994 World Championships in Canada, the men’s national team secured a gold medal.
Coleman, who lived in Franklin Lakes, New Jersey, and had a history of financial problems, including the alleged sale of items in his home and bankruptcy, after he hung up the jersey.
During his time in the NBA, Coleman’s salary was $91 million.
In his bankruptcy petition, Coleman mentioned having $4.7 million in debt and only $1 million in assets.
Allegedly, he spent millions of dollars on real estate projects in and around Detroit just a few years before the global financial crisis.
In addition, he had ownership of a Detroit hotel, a doughnut shop, and a pizza joint.
The NBA pays him a yearly pension of $90,000, which is unaffordable in the event of bankruptcy.