DeMarcus Cousins Net Worth: How Much Is DeMarcus Cousins Worth?

Life, Family, Work

DeMarcus Cousins is one of the most famous NBA Centers of the 2000s and is fondly called Boogie because of his all-around dominance from rebounding to scoring.

He was the fifth overall draft pick of the 2010 NBA Draft after playing only one year of college basketball in Kentucky where he was teammates with fellow NBA stars John Wall of the Washington Wizards and Eric Bledsoe of the Milwaukee Bucks. Boogie was drafted by the Sacramento Kings and was their franchise player from 2010-2016.

He was traded to the New Orleans Pelicans in the middle of the 2016-2017 season where he played with superstar Anthony Davis for two seasons. In 2017, Boogie tore his Achilles. This made a huge impact on his growing career as he was out for one and a half years for rehab. The injury is serious as no player who had it came back with the same performance prior to the injury.

He wanted to resurrect his career with the Golden State Warriors under minimum salary in the 2018-2019. After a failed three-peat championship run with the GSW, he was signed by the LA Lakers this 2019 off-season. Unfortunately, he tore his ACL in a team practice and is not expected to play for the entire season.

Amidst injuries, he had a prolific career. He is a four-time NBA All Star for four consecutive years (2015-2018), two-time All NBA Second Team for two consecutive years (2015-2016) and NBA All-Rookie First Team in 2011. He was also a part of the gold medalist 2016 USA Olympic Team which competed in Rio de Janeiro and the 2014 USA World Cup Team in Spain.

DeMarcus Cousins’ family, wife

He married his three-year girlfriend Morgan Lang in August 26, 2019. He has two children with ex-girlfirend Christy West. DeMarcus was charged with third-degree assault and domestic violence after West reported him of grave threat.

Along with the affidavit was the leaked phone recording of Cousins telling West that he will shoot her in the head if she will not send his two kids to attend his wedding with Lang.

Prior to this, he was already known for having been involved in suspensions following violent altercations with other NBA players and is also one of the NBA players with the most number of called technical fouls and ejections.

Money Sources

• Accumulated contract deals and salary from 2010-2019 ($180M)
• Shoe deals (formerly with Nike, now in a multi-year deal with PUMA)

Net worth from 2010-2019

• 2010: $1.2M
• 2011: $4.5M
• 2012: $8M
• 2013: $11M
• 2014: $15M
• 2015: $17M
• 2016: $20M
• 2017: $26M
• 2018: $32M
• 2019: $37M

What does Net Worth Mean?

What is a Net Worth?

It is a quantitative concept which measures the value of an entity. It is applicable ranging from an individual to companies, organizations, sectors and a country as a whole. To put it simply, it is the difference between assets and liabilities. A positive net worth means assets are greater than liabilities, whereas negative net worth mean liabilities are greater than assets.

Formula:

Net Worth = Assets – Liabilities

A little more into Net Worth Concept:

Net worth conveys the financial health of any entity. Asset is anything that is owned and has a monetary value to it while liabilities is a commitment that deplete resources. Assets can be liquid or which can turn into liquid ( example: bank check ). They are non-liquid when they take time to turn into cash (like for example Home). Whereas liability is an obligation that has to be repaid ( example: home loan, car loan etc.,)

Any financial institution or 3rd party look at your assets and liabilities to understand the financial position. Positive net worth or increasing asset base indicates good financial health while negative net worth or increasing liabilities means a bad financial health condition.

It is always a good habit for any entity to maintain a reduce liabilities and increase or maintain a balanced asset base.

What does a Net Worth Mean to a person?

In simple terms, it means the value that is left after subtracting liabilities from assets. Few Examples of liabilities include car loans, student loans, home loans, credit card bills, and other mortgages etc., whereas an individual’s assets are amount in the savings account, home, vehicle, bonds, stocks and other material that has value.

In other words, whatever is left after paying off all the personal debt from asset base is net worth. It is important to understand that value of net worth varies as per the market value of assets and current debt costs.

For example:

Consider a case of Ramu Johnson. His assets include a house valued at $350000, shares worth $150000 and a car worth $35000. His liabilities include a mortgage balance of
$150000 and an outstanding car loan $15000 to be paid.

Now Ramu Johnson’s Net Worth = ($350000+$150000+$35000) – ($150000+$15000)
= ($535000 ) – ($165000)
= $370000

Assuming Ramu Johnson’s financial position after five years as follows –
House value at $350000, Shares value at $180000, savings $ 40000 and car value $25000. While mortgage loan $120000, car loan $0 (paid off).

The Net worth after 5 years would = ($350000+$180000+$ 40000 + $25000 ) – ($120000)
= $595000 – $120000
= $475000

Here it is understood that, although the fact that the value of a house and car decrease, the net worth have increased to $475000. It is because a decline in house loan is less than the overall asset base and decrease in liabilities.

Note that, an individual’s net worth can be negative if his asset base is less than liabilities.

What does net worth mean for celebrities?

Most often celebrities fall under High Net worth Individuals. And what does HNWI mean?

People with considerable net worth as called as HNWI.

Independent Charted Accounts, wealth managers and investment counsellors stay close to them making them as prime markets.

As per Securities and Exchange Commission( SEC), investors more than 1Million are considered as accredited investors to invite them to invest in unrequested securities.

Is 401k part of net worth?

As per the definition, 401K is also a part of net worth if it is calculated in terms of assets and liabilities. But, in this case, 401K have no specifics as in, therefore it cannot be measured.

What is the average American net worth?

Like any entities net worth a countries net worth can be calculated as below. It is a sum of net worth of all individuals (citizens), companies and organizations reside in America, plus countries net worth. In America, this measure is referred to as financial position.

As on quarter 1 2014, America’s financial position =
Assets ( $269.6 trillion) – liabilities ($145.8 trillion ) = $123.8 trillion.

What is a good net worth by age?

What is the net worth of the top 1%, 5%, 10%?

As in America, wealth distribution is as follows
Richest 1% of the population owned 35% of the country’s total wealth
Richest 5% of the population owned 11% of the country’s total wealth
Richest 10% of the population owned 12% of the country’s total wealth

Success lessons from DeMarcus Cousins

Don’t try to please everybody.

In spite of being notorious for technical fouls and fearless altercations, Boogie is passionate about his craft and has really good friends. He said that he only cares for people who are genuine towards him and that he knows that not all people are meant to understand him.

Live for second chances.

Although he admitted that 2017 was the darkest year of his life after tearing his Achilles and losing his grandmother who helped raise him up, he said that life goes on and that the only way is up. He put himself to rehab and exerted all his effort in getting fine. He made his way back to playing three months before his expected return.

References:

• https://en.wikipedia.org/wiki/DeMarcus_Cousins
• https://www.mercurynews.com/2019/08/27/demarcus-cousins-ex-girlfriend-says-he-threatened-to-kill-her-report/