The Los Angeles Lakers gave Austin Reaves a $185 million contract extension, and the 28-year-old guard already has plans for that money.
Reaves averaged 23.3 points, 4.7 rebounds, and 5.5 assists last season and established himself as an All-Star caliber player for the Lakers.
He was rewarded with a handsome extension, the largest-ever for an undrafted NBA player. As a result, he has prudent plans with his incoming generational wealth.
Austin Reaves reveals his plans with new $185 million contract
Reaves spoke to The California Post in an exclusive interview where he revealed that he has conservative spending habits and has invested all the money earned through his NBA career.
“I don’t buy stuff. All my stuff goes into investments, and hopefully I can set my family up for generations to come.”
Reaves revealed he has someone managing his portfolio and that he has recently turned a tidy profit by being an early investor in SpaceX.
“I’m not super into it (Stocks). I got into SpaceX a couple of years ago. With that going public, that was good. But I don’t really know much about it. I just let [financial advisors] take care of it, and hopefully they make me some money.”
With Reaves’ status as the undrafted player with the biggest NBA contract ever, it’s an incredible achievement that he’s come this far after being an unheralded prospect.
Austin Reaves’ career NBA earnings
Reaves entered the NBA on a two-way contract after going undrafted in the 2021 NBA Draft. While he was quickly given a standard contract before the start of that season, he made $925,258 as a rookie.
He made $1,563,518 in his second season, entering unrestricted free agency and signing the maximum allowed rookie extension for undrafted free agents: four years, $53,827,872, with a player option.
Reaves would decline his $14,898,786 player option to become a free agent and sign the $185 million max contract extension he was entitled to.
With his next contract factored in, Reaves will earn $226,727,275 million over the first nine years of his NBA career from 2021 to 2030.
He will earn $51,137,910 in the 2029-30 season before potentially becoming an unrestricted free agent at 32 years old.
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