What is Karl Malone’s Net Worth?
Karl Malone, known as “The Mailman” for his consistent delivery, is a retired professional basketball power forward with a net worth of $55 million. He is considered one of the best power forwards in NBA history, leading the Utah Jazz into the NBA Finals in 1998 and 1999.
Malone was named to the All-NBA first team 11 times and was twice named the NBA’s Most Valuable Player in 1997 and 1999. In 2003, he played his final season with the Los Angeles Lakers after leaving the Jazz.
Malone also competed in the 1992 and 1996 Summer Olympics, winning gold medals with the US team both years. In the 1996 Olympics, he averaged 8.4 points, 4.5 rebounds, and 1.4 assists per game while making 56.9% of two-point field goal attempts and 52.9% of free throw attempts.
Karl Malone’s NBA Career and Earnings
Karl Malone, also known as “the Mailman,” is a retired professional basketball player for the NBA. He is considered to be one of the greatest power forwards in NBA history. During his NBA career, Malone earned a total of $105 million in salary alone, which is equivalent to around $200 million after adjusting for inflation.
His highest single season salary was in 2002-2003, when he earned $17 million in his final season with the Jazz. In today’s dollars, that would be the same as earning $25 million.
Early Life and Education
Karl Malone was born on July 24, 1963, in Summerfield, Louisiana. He was the youngest of nine children and grew up on a farm with his mother Shirley after his father Shedrick Hay committed suicide when Malone was just three years old.
Malone attended Summerfield High School where he played basketball and led the team to three consecutive state titles.
After graduating from high school, Malone enrolled at Louisiana Tech University but was unable to play basketball during his freshman year due to low grades. However, he led the team to their first NCAA tournament in school history during his sophomore year.
Karl Malone: A Dominant NBA Power Forward
Karl Malone was selected by the Utah Jazz as the 13th overall pick in the 1985 NBA draft. As he grew out of his rookie status, Malone developed a reputation for being reliable and became a foundation of the team’s offense. In 1988, Malone made his first All-Star Game and his first All-NBA team, marking the first of 14 consecutive All-Star appearances by Malone.
During subsequent seasons, Malone’s scoring kept increasing and he scored a career-high 61 points in a 1990 game against the Milwaukee Bucks. Malone remained a dominant player on the Jazz until 2003, when he became a free agent. He decided to play for another season, joining the Los Angeles Lakers, in an attempt to win a championship as one had thus far alluded him while with the Jazz.
After his one season with the Lakers, Malone became a free agent. Though there was talk about a number of different teams possibly signing him, like the New York Knicks and San Antonio Spurs, Malone formally announced his retirement from the NBA at a press conference in February of 2005.
Malone is considered to be one of the best power forwards in the history of the NBA. He earned two MVP Awards, eleven NBA First Team nominations and was a three time member of the NBA All-Defensive First Team. As he got older, he remained a physical and dominant player. At the age of the 40, he became the oldest player to log a triple-double and be a starter on an NBA Finals-bound team.
Karl Malone’s Business Ventures
After retiring from the NBA, Malone became a director of basketball promotion and assistant strength and conditioning coach at Louisiana Tech University. He also served as a big man coach for the Utah Jazz starting in 2013.
Outside of basketball, Malone’s primary career pursuits have been in owning and managing businesses. He owns several businesses in Louisiana, including an ice cream shop, grill restaurant, and Arby’s fast food restaurant. Additionally, he owns car dealerships in both Utah and Louisiana, three Jiffy Lube franchises in Utah, and is a part-owner of multiple Burger King franchises in Idaho and Utah.
Karl Malone’s Personal Life
In 1990, Malone married Kay Kinsey, the winner of the 1988 Miss Idaho USA pageant. They have four children together – three daughters and one son.
In 1998, a tabloid reported that Malone had been involved in a paternity lawsuit a decade prior, alleging that he was the father of three children outside of his marriage with Kay. It was later confirmed that Malone had fathered twins with Bonita Ford, a woman from his hometown, when the two were both 17 years old. It was also confirmed that he had fathered a child with Gloria Bell, who was only 13 when she gave birth. The cases were settled on confidential terms. Though Malone neglected to maintain a relationship with his estranged children, they have since reconciled. His twins both went on to play basketball at his alma mater and his son by Bell went on to play in the NFL.
Malone enjoys hunting and fishing and owns a summer home on a river in Alaska. He also has served on the Board of Directors of the National Rifle Association.
