Penny Hardaway’s net worth in 2021

Anfernee “Penny” Hardaway was one of the first few tall point guards in the league. Standing at 6’7, he revolutionized the position that’s normally reserved for smaller players. For now, let’s take a look at Penny Hardaway’s net worth in 2021.

Penny Hardaway’s Net Worth in 2021 (estimate): $50 Million

Celebrity Net Worth estimates Penny Hardaway’s net worth in 2021 at around $50 million.

The Memphis, Tennessee native enjoyed a 14-year career in the NBA. But, his roots started at Treadwell High School in Memphis where he averaged 36.6 points, 10.1 rebounds, 6.2 assists, 3.9 steals, and 2.8 blocks as a senior.

Hardaway committed to play for Memphis State University (now the University of Memphis). Unfortunately, he had to sit out his first year due to academic reasons.

Penny played well the next year as he was selected to the 1992 USA Basketball Developmental Team that trained daily with the 1992 USA Dream Team.

After his junior year, Hardaway declared to join the 1993 NBA Draft.

Penny Hardaway was selected with the 3^rd overall pick in the draft by the Golden State Warriors, but he was traded to the Orlando Magic in exchange for that year’s top overall pick Chris Webber. His rookie contract with Orlando is worth $45.2 million for 13 years with an Early Termination Option (ETO) after the first year.

Hardaway won the MVP award at the inaugural Schick Rookie Game (now the Rising Stars Challenge). He was a runner-up for the 1994 NBA Rookie of the Year award and was named to the NBA All-Rookie First team after averaging 16 points, 5.4 rebounds, 6.6 assists, and 2.2 steals his first year.

The Orlando Magic won 57 games the following season thanks to the Penny-Shaq duo. Hardaway was named to his first NBA All-Star Game as a starter and was named to the All-NBA First Team. Hardaway and the Magic advanced to the NBA Finals where they were swept by the Houston Rockets.

Despite the departure of Shaquille O’Neal before the 1996-1997 season, Hardaway continued to produce at an All-Star level. He was named to four straight all-star games from 1995-1998.

Before the 1999-2000 season, Penny signed a seven-year $86.6 million contract extension with the Magic as part of a sign-and-trade deal that sent him to the Phoenix Suns to pair him up with fellow All-Star point guard Jason Kidd.

However, injuries hampered their first year together as they played 45 games with both of them in the lineup. Despite that, the Suns advanced to the Western Conference Semifinals where Hardaway would meet former teammate Shaquille O’Neal. The Lakers then disposed of the Suns in 5 games.

Hardaway provided the veteran presence for the Suns during his tenure there before he was traded to the New York Knicks during the 2003-2004 NBA season.

Due to nagging injuries, Hardaway only played 83 games in two and a half seasons with the Knicks. He was then traded back to the Orlando Magic for Steve Francis, but he was waived a few days after.

Penny Hardaway briefly retired before joining Shaquille O’Neal at Miami during the 2007-2008 NBA season. He signed a one year contract with the Heat worth $1.2 million on August 9, 2007.

After 16 games with the Heat, Hardaway was waived by the Heat which effectively ended his NBA career.

According to Spotrac, Penny earned $120,479,007 during his 14-year career in the NBA.

Aside from the NBA, Hardaway was part of the USA Team that won the gold medal at the 1996 Olympic Games in Atlanta.

In 2018, Hardaway was hired by his alma mater, the University Memphis, as the head coach of the Memphis Tigers. He currently has a 63-32 record with the Tigers in a span of three seasons. He also led the Tigers to the 2021 NIT Championship after defeating Mississippi State 77-64.

 

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Aside from his playing and coaching career, Penny shared his acting chops alongside Shaquille O’Neal in the 1994 college basketball film called “Blue Chips”.

He was also featured in an ESPN 30 for 30 documentary in 2016 titled “This Magic Moment” that focuses on the mid-1990’s Orlando Magic led by him and O’Neal.

Hardaway was a major Nike athlete where they produced four signature sneakers for Penny. The marketing for his signature line was well-known as it featured Hardaway’s alter ego puppet version called “Lil Penny”.

Penny Hardaway has other business ventures like a barbershop and beauty salon in downtown Memphis. He also has a turf business based in Miami.

In 2012, Hardaway joined Peyton Manning and Justin Timberlake to form an ownership group that purchased a minority stake of the Memphis Grizzlies.

Needless to say, Hardaway is keeping his ties close to basketball as he is still currently the coach of the Memphis Tigers. His signature line is still being produced by Nike as of this day because of the continued demand for his classic sneaker.