Across his illustrious tenure, Charles Barkley experienced numerous lucrative windfalls. His amassed career earnings, estimated at around $40 million, attest to Chuck’s enduring financial success. Presently, in his capacity as an analyst for TNT, Barkley continues to amass considerable wealth, even post-retirement.

Charles Barkley reveals Julius Erving's advice

Nevertheless, not every affluent athlete manages to retain their riches, with many falling into financial ruin. Charles Barkley could have faced a similar fate, but he credits Julius Erving’s counsel with steering him clear of such pitfalls. During a conversation with Shannon Sharpe on the Club Shay Shay podcast, Chuck recounted how Dr. J’s guidance proved instrumental in his financial enlightenment.

According to the former Sixers star, he became an “idiot” after getting his big cheque and bought four cars. Erving told him that people would know who he is even no matter which car he drives, so driving a cheaper car helps save a lot of money, which will come in handy down the line.


“This money [has] to last you for the rest of your life’… When you [are] 55, how much money are you going to have left? That’s the key,” Barkley said to conclude his story and the lesson provided to him by one of the NBA’s greats.

But saving on cars doesn’t make a significant difference to someone who was a chronic gambler like Charles Barkley. His astonishing loss on the poker table could’ve quickly sent him along a dark path.

Charles Barkley Reveals His Gambling Problems

Speaking on the same podcast, Barkley revealed his problems with gambling. Even after losing money on the table, he was stubborn to the end and ended up losing millions in the process, which could’ve been restricted to a few thousand dollars.

“There’s probably been 25 times I’ve lost a million,” said Barkley to Shannon, who got to know that the NBA legend only made $7 million from winning compared to the massive losses. However, his losing spree forced him to give up gambling for two years before making a return, but by then, Chuck wised up thanks to his friends.
With the guidance of Julius Erving and his close circle of well-wishers, the 1993 NBA MVP sustained a wealthy life. If not, we’d probably have read about Charles Barkley in the list of top athletes who went broke.