Karl Malone Net Worth: Contracts, House, Wife & Children

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One of the greatest and most famous athletes during the ’90s, Karl Malone, has a net worth of $55 million in 2024. His net worth is a result of his 19 years of service in the NBA.

At the peak of his career, Malone earned a staggering $19.2 million yearly salary with the Utah Jazz in the 2002-03 season. Above all, Karl was the second-best player during his era, the only player better than him being the GOAT Michael Jordan.

The 14-time All-Star is just as successful in his business ventures, if not more than in his playing career. For instance, the Hall of Famer has more than 14 business ventures in various cities, including his hometown of Louisiana.

The NBA legend partnered with the Brookshire Grocery Company to donate $50,000 worth of products to the victims affected by the tornado on December 17, 2022, in union Parish. 

Karl Malone In Utah Jazz Jersey
Karl Malone In Utah Jazz Jersey (Source: Pinterest)

But how did the kid who grew up with eight other siblings accrue a net worth of $55 million? Who guided the 14-time All-Star in his successful business ventures?

Well, at the end of this article, you will be enlightened on the questions asked above. You will also find information regarding early life, NBA salary, contracts, and wife.

Before all that, let’s go through his quick facts. 

Quick Facts

Full Name Karl Anthony Malone
Birth Date July 24, 1963
Birth Place Summerfield, Louisiana
Nick Name Karl Malone
Religion Christian
Nationality American
Ethnicity African-American
Education Summerfield High School 
Louisiana Tech University
Horoscope Leo
Father’s Name Shedrick Hay
Mother’s Name Shirley Malone
Siblings 8
Age 60 Years Old
Height 6’9″/2.06 m/206 cm
Weight 117 kg/259 lb
Shoe Size 16
Hair Color Dark Brown
Eye Color Dark Brown
Married Yes (December 24, 1990)
Wife Kay Kinsey
Kids 7
Profession Basketball Player
Position Forward
Active Years 1985-2004
Clubs  Utah Jazz, Los Angeles Lakers
Awards Southland Player of the Year 
2× NBA Most Valuable Player
14× NBA All-Star 
Net Worth $55 Million
Social Media Twitter
Merch Autographed Jersey, Biography Book 
Last Update June 2024

Brief Bio

Karl “The Mailman” Malone was born on July 24, 1963, in Summerfield, Louisiana, to his supporting father, Shedrick Hay, and mother, Shirley Malone. 

His father, Shedrick, committed suicide, which brought all the responsibility of raising nine children to his mother. 

As a result, from an early age, Malone had to step up and help his mother by chopping trees, hunting, and fishing to feed the family.

Louisiana Tech University, Malone
Malone Donning The Louisiana Tech Jersey (Source: Biography Line)

The former LA Lakers power forward attended Summerfield High School, where he led the team to three consecutive Louisana Class C titles.

A lot of universities were interested in Malone, but it was Louisiana Tech University that won in the end. The primary reason was that the university was closer to his home.

But, the future Hall of Famer had to wait a year to make his debut for the team as his grades were too low. Subsequently, the 6’9″/2.06 m forward impacted his second season with the Louisiana Tech Bulldogs.

Karl averaged 18.7 points and 9.3 rebounds per game, which impressed Louisiana Tech and advanced him to the NCAA tournament for the first time in its history.

NBA Career & Achievements

Malone’s NBA career started when Utah Jazz picked him as the 13th overall pick at the 1985 NBA Draft. 

The Louisiana native stayed with the Jazz for an incredible 18 years, unheard of in today’s NBA due to a lack of loyalty in players and franchises.

He led his team to two NBA finals in 1997 and 1998. Unfortunately, the Jazz lost both those finals to Chicago Bulls led by the great Michael Jordan.

Although Malone could never win a team award, he made it up with his impressive haul of personal achievements, which are listed below:

  • 2 times NBA Most Valuable Player (1997, 1999)
  • 14-times NBA All-Star (1988-1998, 2000-2002)
  • 11 times All-NBA First team (1989-1999)
  • Two-time All-NBA Second team (1988, 2000)
  • Three times NBA All-Defensive First Team (1997-1999)
  • 1986 NBA All-Rookie First Team
  • No.32 retired by Utah Jazz
  • NBA’s 50th Anniversary All-Time Team
  • 1983 Southland Player of the Year
  • No.32 retired by Louisiana Tech

LA Lakers

Even though Malone stayed with Utah based franchise for 18 years, he played his final season for the Los Angeles Lakers to achieve his dream of becoming an NBA Champion.

At the time, the Lakers were fresh off their 3-consecutive championships and boasted world-class players such as Kobe Bryant, Shaquille O’Neal, and Gary Payton.

Therefore, expectations were high when the two-time MVP signed with the franchise, as everyone thought the Lakers would be crowned champions for the fourth consecutive year.

LA Lakers 2003-04
Malone Qnd Bryant During The 2003-04 Season (Source: Twitter)

Contrary to the 1997 and 1998 campaigns with the Jazz, Karl fell short at the last hurdle. To explain, the Los Angeles-based franchise did reach the NBA finals in the 2003-2004 season.

To the surprise of almost everyone, an inspired Detroit Pistons team led by Chauncey Billups comfortably beat the Lakers in five games.

Net Worth, NBA Contracts & Salary

The Mailman is worth $55 million in 2024 due to his nearly two decades of career in the NBA. Also, Karl had various sponsorship deals that contributed to Malone’s massive net worth.

Over 19 years of service in the NBA, the Mailman has earned over $105 million in salaries alone. His net worth shouldn’t come as a surprise because the former Jazz power forward was probably the second-best player of his generation.

To illustrate, Malone won the NBA MVP award twice between 1997 and 1999. Malone was also one of the highest-paid players of his era.

NBA MVP 1997,1999
Malone Was Named The MVP For The Years 1997 And 1999 (Source: Twitter)

You may be wondering exactly how much the 14-time All-Star earned during each of his nearly two-decade stay in the NBA. Well, don’t worry, as we’ve got you covered. 

The following is a list of career earnings and contracts of Malone throughout his nearly 20-year stay in the NBA:

Seasons Earnings 
1985-86 $225k
1987-88 $835k
1988-89 $1.3 Million
1990-91 $2.26 Million
1991-92 $2.55 Million
1992-93 $2.85 Million
1993-94 $3.08 Million
1994-95 $3.37 Million
1955-96 $3.67 Million
1996-97 $4.65 Million
1997-98 $5.11 Million
1998-99 $6.14 Million
1999-00 $14 Million
2000-01 $15.75 Million
2001-02 $17.5 Million
2002-03 $19.25 Million
2003-04 $1.5 Million

Career Stats

Season Team GP Min FG% REB AST STL BLK PTS
2003-2004 LA 42 32.7 48.3 8.7 3.9 1.2 0.5 13.2
Total Career Stat   1476 32.7 51.6 10.1 3.6 1.4 0.8 25.0

Houses & Cars

Big expensive houses and cars have become a norm for the wealthy. Karl is no exception, as he is one of the most significant real estate moguls in Louisiana.

To illustrate, Malone currently resides at his Ruston, Louisiana house, which is worth $8 million.

The two-time MVP once lived in one of the most luxurious houses in Utah. The 19,000-square-foot home included two swimming pools, a shooting range, 11 baths, and a beautiful backyard.

Nonetheless, Malone had to sell the house as he went to Los Angeles to play for the LA Lakers in the 2003-04 season. As a result, the home was listed at $6 million for the auction conducted by Craig King.

Harley Davidson
Malone Posing With His Harley (Biography Line)

Later, it was sold for a mere $2.5 million, less than half the original price. The man who bought the mansion was none other than Dwight Manley.

In addition to owning several houses, the 14-time All-Star is a proud owner of a vast fleet of vehicles.

For instance, Malone owns a Harley-Davidson motorcycle, which costs around $30k. Also, the 2.06 m forward owns several Toyota cars. He also holds a Dodge Charger GT with a price of $35k. 

Business Endeavor

Karl is one of the most successful entrepreneurs who boasts a host of businesses under the umbrella of Malone Properties.

One might be forced to think that the 14-time All-Star would take a break and enjoy his wealth and fame. Instead, he worked on expanding his business venture, which is listed below:

  • Arby’s/Texaco in Ruston
  • Teriyaki Grill franchise in Ruston
  • 230-acre cattle ranch
  • Three Jiffy Lube franchises in Utah
  • Part owner of two Burger King franchises (Utah and Idaho)
  • 22-acre Karl Malone Used Car Outlet Toyota in Sandy
  • Karl Malone Toyota in Draper
  • Two condos at Green Valley Resort in St. George
  • M&M Automotive in Sandy
  • Body Shop/Collison Center
  • Eskimo’s Ice Cream
  • Karl Malone Chrysler Dodge Jeep Ram in Heber City

In addition to the long list of business ventures, Malone owns a few thousand acres of Louisiana timberland property. The two-time MVP has a 37-acre outdoor mall in his hometown of Ruston.

Deer Raising Venture 

The Louisiana native has a deer-raising venture on 300 acres of fenced property. Malone has been raising white-tailed and axis deers inside the property for years.

If that isn’t enough, Karl owns Malone Outfitters, through which he takes his clients on hunting trips on his 300-acre deer property.

One might wonder where the 2.06 m power forward learned his business trade. Well, no need to worry, as the man behind Malone’s success is none other than his former boss, Larry Miller.

Karl Malone Outfitters
Malone Catches A White-Tailed Deer During A Hunting Trip (Source: Biography Line)

The late entrepreneur, car dealer, and Jazz owner helped the 14-time All-Star in his on-court activities and off-court activities.

According to Malone, “Larry and I talked about everything. One of the things he told me is to have a passion for whatever you do, not do business just to do it. You do it to make a profit. You’ve got to ask questions.”

Furthermore, the Louisiana native has also tried his hands in the entertainment industry.

He appeared in two movies, Rockwell (1994) and Soul Plane (2004). He has a recurring cameo called “All Alone with Karl Malone” in the hit talk show Jimmy Kimmel Live.

Charity Work

Having grown up living a poor life out of necessity, Malone does everything within his capabilities to help needy families and kids.

As a result, Karl runs the Karl Malone Foundation, which financially supports kids and their families. He donated supplies worth $200k to Navajo Indians.

Similarly, the two-time MVP also donated $6k to the re-election campaign of President George W. Bush, along with $2k to the 2004 US Senate campaign of Lisa Murkowski.

Also, Karl is a member of the Board of Directors of the National Rifle Association (NRA), whose primary aim is to teach firearm safety and competency.

Wife & Family

The Mailman is married to 1988 Miss Idaho, Kay Kinsey. Precisely, the couple got married on December 24, 1990, inviting each other close friends and family. 

Children

The two lovebirds have been blessed with four lovely kids daughters Kadee Malone, Kylee Malone, Karlee Malone, and son Karl Junior.

Malone had three children with another two women. Malone and Bonita Ford gave birth to twins; a son Daryl Ford and a daughter Cheryl Ford.

Karl Malone's Family
Karl Malone’s Family (Source: The Personage)

Secondly, the Hall of Famer had another child, Demetress Bell, with Gloria Bell. Astonishingly, Gloria was only 13 years old when she gave birth to Demetress.

Nonetheless, those incidents happened in the past and should be left there. As of 2024, Malone is a family-oriented guy who loves spending time with his children and his wife, Kay.

Dunk Contest 2023

NBA Hall of Famer Karl Malone will return to the arena he played in for 18 seasons on Saturday, February 18, 2023.

The former Jazz forward will judge the Slam Dunk Contest as NBA All-Star Weekend returns to Salt Lake City for the first time since he shared All-Star Game co-MVP honors with John Stockton in 1993.

The contest will feature New Orleans’ Trey Murphy, Houston’s KJ Martin, New York’s Jericho Sims, and Philadelphia’s Mac McClung.

Popular Quotes

  • “Sometimes, you follow your dreams. I say to young people, ’If you have a dream, chase it.”
  • “It takes people a while to trust you.”
  • “I never felt I had the kind of relationship with Magic that I could just pick up the phone and call him home.”

Social Media Presence

The American former professional basketball player is only available on Twitter and goes by the username @TheDeliverer_32.

Twitter: 71k followers 

Malone regularly interacts with his followers via tweets and live sessions. Moreover, he also shares his personal views on current basketball affairs. 

Frequently Asked Questions (FAQS)

What does Karl Malone's wife do for a living?

Karl Malone's wife, Kay Kinsey, works in the Teriyaki Grill Restaurant of Ruston.

What are other hobbies of Karl besides basketball?

Karl is fond of an outing and visiting new places and is deeply interested in hunting and fishing.

Does Karl Malone still own the Honda dealership?

At present, Karl does not own the Honda dealership. He was the past co-owner of the dealership, but in 2010, he sold the share to Larry H. Miller Dealerships.

What happened to Karl Malone?

On December 21, Malone suffered a knee injury when playing against the Phoenix Suns, forcing him to miss 39 games. 

Aaditya Bhatta
Aaditya Bhatta

Aaditya Bhatta

Aaditya Bhatta is a dynamic writer and sports enthusiast, whose passion for both realms is reflected in his work. With a keen eye for detail and a knack for storytelling, Aaditya brings a unique perspective to his writing, captivating readers with his engaging content.

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