Smith’s obscene wealth explosion

STEVE Smith is rich. Filthy rich.

In a year of personal hell which saw him stripped of the Australian test captaincy and banned for 12 months for his role in the Cape Town ball-tempering scandal, Smith’s personal fortune has exploded.

Smith’s ball-tampering ban sparked fears for the severe impact his cricket exile would have on his personal wealth after his $2.4 million IPL contract with Rajasthan Royals was torn up in March.

However, the 29-year-old has turned his year of scandal into a year of scandalous wealth, according to The Australian Financial Review’s 2018 Rich List.

The star batsman has amassed a personal wealth of $27 million, according to the annual list, seeing him crack the top 100 of the AFR Young Rich List for the first time.

Smith is reportedly the 95th richest Australian under the age of 40 — and would have been much higher if the ball-tampering scandal had not cost him up to $10 million in playing contracts and endorsements.

The publication reports fellow banned cricketer David Warner may also have squeezed onto the list if not for the ball-tampering saga with an estimated personal fortune of $17 million.

What a year.Source:Getty Images

Many of Smith’s sponsors stuck with the former No. 1 ranked batsman on the planet — but his fleet of sponsors were not the reason he has cracked the list for the first time.

Fairfax Media reports the Alfords Point local has amassed a mighty property portfolio of six investment properties in Sydney, including one in Coogee — in the eastern suburbs — and another in Marrickville — in the inner west.

Smith also has a 10 per cent stake in online furniture company Koala, who he invested in from its start-up phase.

Smith last year came in at No. 17 in the AFR’s top 50 sports earners with a haul $3.39 million.

Despite his year in exile, Smith is expected to climb significantly up that list when the 2018 list is announced because of the recent valuations of his investment portfolio.

He was one of nine athletes to feature on the 2018 Young Rich List, led by Sydney Kings star Andrew Bogut.

They were banned three months later.Source:Getty Images

The former NBA No. 1 draft pick is considered the wealthiest Aussie athlete coming in at No. 30 overall on the 2018 list.

The AFR last year estimated Bogut to be worth a staggering $77 million after 13 years in the NBA.

Golfer Adam Scott, who was the wealthiest Aussie athlete on last year’s list dropped to No. 33 on this year’s list.

Harry Kewell (No. 48), golfer Jason Day (No. 53), Socceroos legend Harry Kewell (No. 48), Socceroos legend Tim Cahill (No. 63), motocross star Chad Reed (No. 69), Formula 1 driver Daniel Ricciardo (No. 71), sailor James Spithill also featured on the list.

It is the first year Ricciardo has made the top 100, despite regularly featuring as one of the highest-earning Aussie athletes.

He reportedly earned $10.41 million in 2017 and is now worth a staggering $34 million.

He is expected to continue to climb the Aussie rich list next year after reports valued his two-year Renault contract, beginning in 2019, at $70 million as one of the richest contracts in the sport.

Aussie NBA star Ben Simmons was surprisingly unable to crack the list, despite taking out the NBA’s rookie of the year award for the 2017-18 season.

AUSTRALIA’S WEALTHIEST ATHLETES

That’s a lot of shoeys.Source:AFP

Andrew Bogut — $77 million, valued in 2017

Adam Scott — $88 million, valued in 2017

Harry Kewell — $54 million, valued in 2017

Tim Cahill — $37 million, valued in 2017

Daniel Ricciardo — $34 million, valued in 2018

Jason Day — $43 million, valued in 2017

Chad Reed — $36 million, valued in 2017

James Spithill — $28 million, valued in 2017

Steve Smith — $27 million, valued in 2018

Source: Read Full Article