This Is How Dennis Rodman Lost All Of His Money

Known to fans for his skills as a basketball player and his quirky persona off the court, Dennis Rodman racked up quite the reputation for being passionate, wild, talented, and eccentric all at once. The former athlete earned a spot in the NBA Hall of Fame and carried the Chicago Bulls to victory with renowned teammates like Michael Jordan and Scottie Pippen.

While the Bulls of the 90s were full of talented players, including a bona fide living legend, Rodman was arguably the most interesting one. Unpredictable and chaotic, he was known for his wild dyed hair once going for a multicolored rainbow look and for his prolific tattoos, which stood out among his peers at the time.

"The Worm" was also known for his sometimes outlandish and controversial offcourt hobbies. In the '90s, Rodman dressed in drag and put on a wedding dress to promote his autobiography, Bad As I Wanna Be. In his personal life, Rodman linked up with celebs like Madonna and actress Carmen Electra, who Rodman married in Vegas, though he filed for an annulment nine days later.

His unique brand, combined with his undeniable talent as a rebounder, earned him millions over the course of his NBA career. The former champion earned approximately $27 million in salary over his 14 seasons. But now, Celebrity Net Worth estimates his net worth to be only around $500,000. At one point, the man didn't have enough to pay child support, claiming he was, quote, "sick and broke."

So, what led to the downfall of this once-wealthy athlete? Let's take a closer look. Perhaps one of the biggest losses was through no fault of his own other than trusting someone else with his wealth. According to Sports Illustrated, Dennis Rodman was among many athletes who were scammed by a woman posing as a financial advisor.

Peggy Ann Fulford, the woman in question, gained the trust of wealthy clients by boasting fake degrees from Harvard and claims of Wall Street success that turned out to be nonexistent. She met Rodman through a mutual friend in the 2000s, and Rodman came to trust her with his finances. The two were so close at one point that he even thanked her in his 2011 Hall of Fame speech, calling her family, and saying she was caring for him.

The entire fiasco was marred by red flags, with Rodman at one point wondering why his electricity was cut off in a Florida condo that Fulford bought on his behalf. In another incident, Rodman's lavish expenses were brought up in a child support hearing, which included a hefty amount of money spent at Victoria's Secret, a store which Rodman claimed he had never shopped at. Soon thereafter, Rodman's former assistant AJ Bright pointed out that Rodman's payments on his $5 million life insurance policy had lapsed.

Through it all, Fulford claimed that Rodman's financial troubles were due to his own spending habits and used that reasoning to take total control of his accounts. All of that went up in smoke when Fulford was sentenced to 10 years in prison in 2018 for interstate transportation of stolen property.

That's not to say that the basketball champion hasn't lost money through his own reckless spending over the years. According to The Los Angeles Times, Dennis Rodman owed over $860,000 in child and spousal support in 2012. He also allegedly spent significant dollars on strip clubs and alcohol. However, much of that information comes from Peggy Ann Fulford making it unclear how much Rodman actually spent himself and what was lost in the scam.

Rodman had other run-ins with the law that drained his bank account, including paying up $2,000 for drunk driving and, in another incident, being arrested alongside his then-wife for a domestic disturbance call.

Other significant expenses included $200,000 that he had to pay after headbutting a referee in 1996; $20,000 that he was fined after leaving his team during the 1998 NBA Finals to participate in a wrestling match with Hulk Hogan; an additional $20,000 after picking a fight with yet another ref; and $68,000 after skipping preseason camp in 1992.

Rodman's legacy is one filled with polarizing moments, yet he's still considered one of the greatest in Chicago Bulls history. In ESPN's The Last Dance documentary, Michael Jordan called Dennis one of the smartest people he ever played with.

But considering the financial ups and downs from his personal life, it's no wonder if Rodman has been left without much in the bank to call his own at least compared to some of his stupendously wealthy ex-teammates.

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