Penny Hardaway’s Net Worth

Anfernee “Penny” Hardaway, a retired professional basketball player, has accumulated a net worth of approximately $50 million. Best known for his exceptional skills as a point guard, Hardaway made significant contributions to the NBA, most notably alongside Shaquille O’Neal with the Orlando Magic. Over the years, he also played for the Phoenix Suns, New York Knicks, and Miami Heat, carving out a prosperous career that extended beyond the court into endorsements and coaching.

Early Life

Born on July 18, 1971, in Memphis, Tennessee, Penny Hardaway grew up under the care of his grandmother, who affectionately called him “Pretty” in her Southern drawl, which sounded like “Penny” — a nickname that stuck. Hardaway quickly rose to prominence as a high school basketball star at Treadwell High School, where he averaged an astounding 36.6 points, 10.1 rebounds, and 6.2 assists per game in his senior year. His performance earned him the title of “Parade Magazine” National High School Player of the Year.

College Career and NBA Draft

Hardaway attended the University of Memphis, where he majored in Education and maintained a 3.4 GPA. After excelling in college basketball, he declared for the 1993 NBA Draft, opting out of his senior season. He was selected by the Golden State Warriors as the third overall pick, but was soon traded to the Orlando Magic, where he would make his name in professional basketball.

NBA Career

Hardaway began his NBA journey as a shooting guard but quickly transitioned to point guard, where he thrived under the mentorship of veteran player Scott Skiles. By mid-season, Hardaway had taken over the position and made an immediate impact on the court. In his rookie year, he averaged 16 points, 6.6 assists, and 5.4 rebounds per game, helping the Magic achieve their first playoff appearance and a 50-win season. His 190 steals during that season ranked him 6th in the entire league. For his efforts, Hardaway earned a spot on the NBA All-Rookie First Team and was runner-up for Rookie of the Year.

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The 1994-95 NBA season marked one of Hardaway’s most successful years, as he averaged 20.9 points, 7.2 assists, and 4.4 rebounds per game, earning a spot in the NBA All-Star Game and the All-NBA First Team. Alongside Shaquille O’Neal, Hardaway led the Magic to the NBA Finals, where they were ultimately defeated by the Houston Rockets. Despite the loss, Hardaway averaged 25.5 points, 8 assists, and 4.8 rebounds per game in the Finals, shooting an impressive 50% from the field.

Though his most productive years came with the Orlando Magic and early on with the Phoenix Suns, Hardaway also played for the New York Knicks and Miami Heat before retiring in 2007. Over his NBA career, Hardaway earned approximately $120 million in salary alone, not including additional income from endorsements.

Penny Hardaway Salary

After his playing days, Hardaway transitioned to coaching. In March 2018, he took on the role of head coach for the Memphis Tigers college basketball team. His leadership and coaching skills paid off, and on December 21, 2020, Hardaway signed a five-year contract extension worth $12.25 million, with an annual salary of $2.45 million. At one point, Hardaway also had the privilege of coaching his son, Jayden, on the Tigers team.

Penny Hardaway Endorsements

Hardaway’s popularity extended beyond the court, as he became a fixture in media and advertising. He starred alongside Shaquille O’Neal in the iconic sports film “Blue Chips” (1994) and was a prominent figure in the Nike “Lil Penny” ad campaign, where his alter ego was voiced by comedian Chris Rock. This advertising campaign became a cultural sensation during the mid-1990s.

In 2016, Hardaway was featured in ESPN’s 30 for 30 documentary “This Magic Moment,” which chronicled the rise of the Orlando Magic during his and Shaq’s tenure with the team.

Personal Life

Off the court, Penny Hardaway enjoys a private life with his two daughters and a son. In September 2019, he made headlines for purchasing an 11,000 square-foot mansion in Memphis for $4.25 million, further adding to his impressive real estate portfolio.

Penny Hardaway Net Worth

Penny Hardaway net worth $50 million.