Kevin Garnett, considered one of the greatest power forwards in NBA history, shared a surprising story about his early financial habits. During an appearance on “Jimmy Kimmel Live” in 2021, Garnett revealed that, at the start of his career, he kept his NBA earnings in cash under his mattress instead of using a bank. This habit, he explained, stemmed from his upbringing and lack of financial literacy at the time.
Last week Garnett shared the clip on his TikTok account.
Stashed Money
“I was coming from Chicago… I was kind of raised with a certain pedigree and mindset. I wasn’t introduced to wires or just fintech. I wasn’t financially savvy, none of it,” Garnett said during the interview. “So when I would get my check, I’d go cash it, bring it home, and I would put it under my mattress.”
Garnett added that he even had a system to keep track of the money under his mattress. “The only thing I would say is, ‘If you take money from under here, just put an IOU under here so I know that.’ Because I had it up here, I knew how much money was up. … I got a system to this,” he said, explaining he had told his girlfriend at the time she was free to borrow money with his IOU system.
However, Garnett’s mattress-bank system unraveled after his relationship ended. “Shortly, I broke up with that female. I looked under the mattress and I had a bunch of IOUs… It’s time to put this in the bank,” Garnett said, laughing.
The story highlights how Garnett has come a long way in managing his finances. Garnett, who earned $334,304,240 over his 21-season NBA career, has since become financially savvy. While he started out with a simple mattress system, he’s now involved in various investment ventures.
For example, Garnett previously sought to invest $200 million as part of a group aiming to purchase the Minnesota Timberwolves, a team he played with for 12 seasons. The Timberwolves were ultimately sold to Alex Rodriguez and Marc Lore.
Today, the 15-time NBA All-Star, NBA champion, and MVP boasts an estimated net worth of $120 million.