Scottie Pippen wasted $4.3 Million on a Jet that didn’t even fly
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Scottie Pippen with his family on his private jet
Scottie Pippen was one of the most underpaid talents in the NBA during his time with the Chicago Bulls. In 1991, Pippen agreed to a 7-year, $18 million deal with the Bulls, which came in at 122nd in the NBA in which he was a top 10 player.
Scottie Pippen and other professional sportsmen can afford a few financial setbacks. The legendary Chicago Bulls player misused most of his NBA money on some strange investments. Pippen spent $4.3 million on a jet that couldn’t fly rather than seeing his wealth expand.
Pippen and his absurd purchase of a jet
Like every wise businessman, Scottie once made a financial choice that he continues to regret. In 2002, when he was playing for the Trail Blazers for the last time, he purchased a Gulfstream G200 plane for $4.3 million.
The jet wouldn’t even take off, which was the issue with this purchase, and later, Pippen learned that the plane required around $1 million in repairs to make it operational. In 2010, Pippen finally prevailed in a malpractice action against Chicago legal firm Pedersen & Houpt.
He claimed that the firm neglected to carefully watch over his purchase through a business named Air Pip. Pippen was awarded $2.37 million even though his first demand was $8 million.
Despite earning almost four times that much from the NBA, Scottie Pippen’s net worth is approximately $30 million due to several unsuccessful investments. Fortunately for Pippen, he received the payback he deserved, but all of this trouble might have been prevented if he had gone to the inspection before completing the purchase.
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