Karl-Anthony Towns' net worth in 2024 is $70 million. The Minnesota Timberwolves big man is one of the greatest shooting 7-footers in NBA history (career 40 percent on 3-pointers).
He has a great earning potential with his status as a four-time All-Star, two-time All-NBA, and 2016 Rookie of the Year. With that in mind, today we're looking at Towns' net worth in 2024.
What is Karl-Anthony Towns' net worth in 2024?: $70 million (estimate)
Karl-Anthony Towns' net worth in 2024 is $70 million. This is according to several reputable outlets, including Celebrity Net Worth. Little wonder he could afford a $4.5 million lake house in Minnesota.
Towns was born in Edison, N.J., on Nov. 15, 1995. He attended St. Joseph high school in Metuchen, N.J. He led the St. Joseph boys basketball team to three-consecutive state titles and was the nation's No. 1 prospect his sophomore year.
Towns graduated a year early and committed to play for the University of Kentucky. In his lone season on an extremely deep and talented Wildcat team, he helped lead Kentucky to a national title before declaring for the 2015 NBA Draft.
Karl-Anthony Towns' early professional career
Towns was the No. 1 overall pick of the draft by the Timberwolves. He averaged 18.3 points, 10.5 rebounds, and 2.0 assists in 2015-16, winning the 2016 Rookie of the Year Award.
Towns has endorsement deals with YouTube, Nike, Gatorade, 2K Sports, T-Mobile, Beats by Dre, Secretlab, and Luminosity. He's been in commercials with Foot Locker as well.
In Year 2 with the Timberwolves, Towns averaged 25.1 points, 12.3 rebounds, and 2.7 assists. However, the Timberwolves were still a losing franchise despite the talents of Towns and fellow No. 1 overall pick Andrew Wiggins, so head coach Tom Thibodeau–who was also the Timberwolves' president of basketball operations–made a blockbuster trade.
Thibodeau traded Zach LaVine, Kris Dunn, and the seventh overall pick in the 2017 draft (Lauri Markkanen) to the Chicago Bulls for All-Star small forward Jimmy Butler. Behind Butler, Towns, and Wiggins, the Timberwolves made the playoffs in 2018 for the first time since 2004.
Towns made his first All-Star team in 2018. He finished the season with averages of 21.3 points, 12.3 rebounds, and 2.4 assists.
Karl Anthony Towns' big contract
However, Butler and Towns didn't get along behind the scenes in Minnesota, as Jimmy didn't respect KAT's work ethic. Butler requested a trade from the Timberwolves before the start of the 2018-19 season, something Towns was privately happy about.
Once Butler's trade request went public, Towns signed a five-year, $158.25 million Designated Veteran extension with Minnesota.
Towns made $25,579,688 in 2019-20, $29,467,800 in 2020-21, $31,650,600 in 2021-22, $33,833,400 in 2022-23, and will earn $36,016,200 in 2023-24. When Towns' contract with the Timberwolves ends, he'll have made $211,735,523 in NBA money from Minnesota.
During the shortened 2019-20 season due to COVID-19, Towns averaged 26.5 points, 10.8 rebounds, and 4.4 assists. However, it was a tough year for KAT. He got into a huge fight with Philadelphia 76ers center Joel Embiid in October.
The brawl cost Towns $378,345 in total money. He was suspended for two games by the NBA.
Towns then made the All-Star team in 2021-22 and 2023-24. After the Wolves traded for defensive specialist Rudy Gobert, Towns switched to power forward. The two have thrived together as the Wolves have the best record in the Western Conference at the 2024 All-Star break.
Karl Anthony Towns on hard times
Towns also tragically lost his mother, Jacqueline Cruz-Towns, due to COVID-19. Towns' father was also hospitalized with COVID-19, but he recovered. The Towns family released a statement on the tragic news.
“Jackie was many things to many people — a wife, mother, daughter, grandmother, sister, aunt, and friend,” the statement from the Towns family said. “She was an incredible source of strength; a fiery, caring, and extremely loving person who touched everyone she met. Her passion was palpable, and her energy will never be replaced.”
Before his mom passed away, Karl-Anthony Towns donated $100,000 to the Mayo Clinic in Minnesota for COVID-19 testing. KAT is a great person both on and off the basketball court. It was a really sad moment for Towns and his family when Jacqueline Cruz-Towns passed away.
However, the tragic passing of his mom didn't stop Towns from helping former NBA forward Stephen Jackson bring justice for George Floyd, who was killed by a Minnesota police officer after the cop knelt on his neck.
Towns stood near Jackson wearing a “Black Lives Matter” hat and a black and white mask in Minnesota. Jackson and Floyd were very close friends, so Towns wanted to be there to support Jackson despite all the turmoil he was going through in his personal life.
Karl Anthony Towns' personal life
Thankfully, some good things happened for Towns in 2020. He started dating model Jordyn Woods, who has been helping Towns get through this difficult year since she lost her dad in 2017. For Woods' 23rd birthday, Towns gave Woods a Chicago Bulls Michael Jordan jersey, as well as a bunch of other gifts. The entire NBA family was just happy to see Towns smiling again.
Moving forward, Towns' net worth is only going to increase due to his gigantic contract with the Timberwolves. Now that he's dating a public figure in Woods, Towns could also sign a few more endorsement deals as well.
However, none of that matters to Karl-Anthony Towns. He wants to be the guy who brings the Timberwolves to new heights for a franchise that has never made the Western Conference Finals. Towns hasn't advanced past the first round in three trips to the playoffs.
Was Karl Anthony Towns' net worth in 2024 a surprise?
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