Penny Hardaway’s Net Worth: Inside the Iconic Athlete’s Multi-Million Dollar Net Worth and Signature Sneaker Line

This guide will teach you everything you need to know about Penny Hardaway’s net worth, career achievements, and signature sneakers. Learn the sources of this All-Star’s wealth, his endorsements, and the teams he has coached.

He discovered his love for basketball after his grandmother refused to let him play football. Penny Hardaway followed his passion, became one of the NBA’s greatest stars, and is still one of the most sought-after college coaches ever. His story demonstrates that anyone can chase their dreams, work hard, and pivot when things don’t go as planned.

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What is Penny Hardaway’s net worth?

He shoots. He scores. Penny Hardaway’s net worth for 2023 is a cool $70 million.

But Hardaway isn’t the richest retired NBA player. Michael Jordan’s net worth is a slam dunk at $2.2 billion!

Who is Penny Hardaway?

Anfernee Deon Hardaway was born in Memphis, TN, on July 18, 1971. When he was only 3, his mother moved to California for work. His grandmother, Louise, became his primary guardian and gave young Anfernee his nickname by accident. She used to call him “Pretty,” but her thick southern drawl made it sound like “Penny.” And the name stuck.

Hardaway grew up in a dangerous neighborhood without much money. But he was passionate about sports. In school, he wanted to join the football team, but his grandmother thought it was too dangerous. Abiding by her wishes, Hardaway started playing basketball at the local YMCA. He loved it and began refereeing youth sports there.

Penny Hardaway practiced dribbling, blocking, and shooting day and night, often overlooking his schoolwork. He became one of Treadwell High School’s top basketball stars with 3,039 points over his high school career.

College Basketball Star

After graduating high school, Hardaway attended Memphis State University (now the University of Memphis). But low grades forced him to sit out his freshman year. He studied hard to boost his GPA, eventually landing on the Dean’s List.

During his sophomore and junior years, Hardaway made a huge impression on the court. He was named an All-American and a finalist for both the Naismith College Player of the Year and the John R. Wooden Award.

Hardaway left college early to join the 1992 NBA Draft.

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NBA All-Star

During the 1992 NBA Draft, the Golden State Warriors selected Hardaway in the first round. But the team traded him to the Orlando Magic.

Penny Hardaway’s first season was nothing short of amazing. He started as a shooting guard, eventually taking over as point guard. That year, he made the NBA All-Rookie first team and was the runner-up Rookie of the Year.

His NBA career spanned 14 years, playing for Orlando Magic, the Phoenix Suns, the New York Knicks, and the Miami Heat. During that time, he enjoyed four All-Star appearances. Unfortunately, an old ACL injury ended his playing career early.

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College Coach

In 2015, the University of Memphis offered Hardaway a lucrative head coach position. He jumped at the opportunity and continues coaching his alma mater to this day.

What are the sources of Penny Hardaway’s net worth?

A string of injuries forced Hardaway to retire from the NBA, but he continues to earn millions annually through multiple sources. Let’s take a look:

1. Sports Career Earnings

Over his 14-year NBA career, Penny Hardaway earned an estimated $120 million.

2. Coaching Salary

Hardaway signed a six-year contract extension with the Memphis Tigers. The $16.5 million deal guarantees his head coach position through 2028.

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3. Nike Contract

In 1995, he entered an exclusive deal with Nike to produce a signature line of performance sneakers. The contract’s details are top-secret, but Hardaway did choose Nike over a $7 million offer from Converse.

4. Investments

In 2023, Hardaway became an investor in Tradeblock. The tech startup wants to make sneaker trading more accessible, especially in lower-income communities. Hardaway is the first celebrity investor for the sneaker trading platform.

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5. Acting Career

He has a modest acting career, landing roles on Blue Chips and Hangin’ with Mr. Cooper.

6. Memphis Mansion

He owns a $4.25 mansion in Memphis. The home is over 10,000 square feet and features five bedrooms, four bathrooms, a wine cellar, and a guest house. Penny Hardaway’s cars—including an Aston Martin, Range Rover, Mercedes, and Jaguar—fit perfectly inside his 4-car garage.

FAQ

What is Penny Hardaway’s net worth?

Basketball fans want to know: How much is Penny Hardaway worth today? The answer is A LOT. Penny’s net worth for 2023 is an estimated $70 million.

Take a look at Anfernee Hardaway’s net worth over the years:

• Penny Hardaway net worth 2022: $64 million
• Penny Hardaway net worth 2021: $59 million
• Penny Hardaway net worth 2020: $50 million
• Penny Hardaway net worth 2019: $49 million
• Penny Hardaway net worth 2018: $46 million

How did Penny Hardaway make his money?

Hardaway earned the bulk of his income from his NBA and coaching careers. In 2022, he signed a 6-year contract extension with the Memphis Tigers worth $16.5 million.

What is the signature line of sneakers that Penny Hardaway has created?

Nike teamed up with Hardaway to produce the All-Star’s first signature sneaker, the Nike Air  Max Penny. The shoes launched in 1995 and flew off the shelves. Hardaway recalled, “To have my own shoe was just another dream that I fulfilled.”

Hardway’s sneaker line features multiple designs. The most popular models are:

• Nike Air Max Penny I
• Nike Air Penny III
• Nike Foamposite One “Penny PE”

But one of Hardaway’s sneakers, the Nike Foamposite One, has a tragic past. He recalled, “One guy even got killed over this shoe.” During the initial launch, a fight broke out, and one of Hardaway’s fans lost his life.

What awards and accolades has Penny Hardaway won?

As an NBA player, Hardaway received these accolades during his career:

• NBA All-Star (1995, 1996, 1997, 1998)
• USA Olympic Gold Medalist (1996)
• All-NBA First Team (1995, 1996)
• NBA All-Rookie First Team (1994)

What teams has Penny Hardaway played for?

Hardaway left college during his junior year to enter the 1993 NBA Draft. Although the Golden State Warriors picked him in the first round, Orlando Magic picked him up during a trade. He played in the NBA for 14 years before retiring to become a coach. His professional teams include:

• Orlando Magic (1993-1999)
• Phoenix Suns (1999-2004)
• New York Knicks (2004-2006)
• Miami Heat (2007)

What are the most successful teams Penny Hardaway has coached?

Hardaway coaches at his alma mater, the University of Memphis.

During his rookie year as head coach, he led the Memphis Tigers to the National Invitation Tournament.

What endorsements does Penny Hardaway have?

Penny Hardaway has a long-standing brand partnership with Nike. The exact details of this deal are private. But in 2019, Hardaway reported earning $3 million from “equipment and shoe contracts.”

What are some of the philanthropic activities that Penny Hardaway has participated in?

Hardaway prioritizes giving back to disadvantaged youth. He’s donated to or worked with these charitable organizations:

• Cats Care
• Compound Foundation
• Desmond Merriweather Foundation
• James R. Jordan Foundation
• Keep Memory Alive
• Make-A-Wish Foundation
• Nevada Cancer Institute
• Opportunity Village
• St. Jude Children’s Research Hospital

Takeaway

Penny Hardaway turned his love of basketball into a lucrative career. And after an injury forced him into retirement, he still found a way to share his passion with others. Penny Hardaway’s net worth might be $70 million, but extreme wealth was never his priority. As he said, “I don’t think about the money side. I just think about how I can create a culture of winning.”

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