Michael Malone’s net worth in 2024

Tony Nguyen | Denver Nuggets
May 21, 2024

Michael Malone’s net worth in 2024 is $8 million. Malone is a basketball coach who currently serves as the head coach for the Denver Nuggets of the NBA.

He led the Nuggets to the 2023 NBA title and twice served as one of the coaches for the annual All-Star Game. And in November 2023, the Nuggets signed Malone to a contract extension that will make him one of the highest-paid coaches in the NBA. Let’s get to know more about Michael Malone’s net worth in 2024.

What is Michael Malone’s net worth in 2024?: $8 million (estimate)

Michael Malone coaching the Sacramento Kings and the Denver Nuggets.

Michael Malone’s net worth in 2024 is $8 million. This is according to reputable outlets such as Celebrity Net Worth.

Michael Malone was born on Sept. 15, 1971, in Queens. He first studied in Bishop Hendricken High School, where he started his amateur basketball career. Afterwards, Malone transferred to Seton Hall Prep before finishing his high school education at Worcester Academy.

After graduating from high school, Malone attended Loyola University Maryland. He played for four seasons with the Greyhounds.

In four years, Malone accumulated averages of 3.5 points, 2.6 assists, and 1.6 rebounds per game while shooting 36 percent from the field overall. He eventually graduated from Loyola University Maryland with a degree in history.

Michael Malon’s early coaching career

While completing his studies in Loyola Maryland University, Malone took up an assistant-coaching job at Friends School of Baltimore. The Friends Quakers would post a 7-11 record during the 1993-94 season.

After serving as a high school assistant coach for Friends School of Baltimore’s high school basketball team, Malone would be hired as an assistant coach for Oakland University. Around this time, Oakland University went 20-9 for the 1994-95 season. After that, Malone earned assistant-coaching gigs at other universities such as Providence College and Manhattan College.

In the 1998-99 season, Malone was hired by the University of Virginia to be the director of men’s basketball administration. As director for one season, the Cavaliers posted a 14-16 win-loss record.

Michael Malone becomes NBA assistant coach

In 2001, Malone was able to enter the NBA as an assistant coach after being hired by the New York Knicks and stayed there for a handful of seasons. Four years later, Malone decided to join the Cleveland Cavaliers coaching staff and helped the LeBron James-led squad become a fixture in the playoffs.

With Malone, the Cavs were able to go all the way to the 2007 NBA Finals. Unfortunately, the Cavs were swept by the San Antonio Spurs.

After helping the Cavs become a playoff contender, Malone was hired by the Golden State Warriors as an assistant coach, as recommended by then head coach Mark Jackson. Malone was the highest-paid assistant coach in the NBA after agreeing to a three-year deal worth $2.25 million.

Michael Malone becomes the Kings’ head coach

Despite being the highest-paid assistant coach in the NBA, Malone couldn’t help but accept a head-coaching position for the Sacramento Kings. With Malone’s hiring, the former Greyhound signed a two-year contract worth $4.5 million, according to Spotrac.

In Malone’s coaching debut, the Kings posted a lowly 28-54 record. A season later, Malone was fired by the Sacramento Kings front office after coaching the team to an 11-13 start to the 2014-15 season.

Michael Malone becomes the Nuggets’ head coach

In 2015, Malone was hired by the Denver Nuggets to become the team’s head coach. Malone agreed to a four-year deal with an undisclosed amount.

In his first season with the Nuggets, the team posted a 33-49 record. During the following year, the Nuggets improved under Malone’s watch by registering a 40-42 record, good for the ninth seed but not enough to make the postseason.

In the 2017-18 season, Malone coached the Nuggets to a solid 46-36 record. But despite a winning record, the Nuggets failed to make the playoffs again as the ninth seed in the Western Conference.

Michael Malone’s contract extension with the Nuggets

Despite missing the playoffs in his first three years as the head coach of the Nuggets, the organization kept their faith in Malone. Malone agreed to a two-year contract extension with the franchise. Terms of the deal weren’t disclosed to the public. Then the Nuggets finally made their first playoff appearance since 2013, after finishing second in the West with a 54-28 record.

Coming into the playoffs as the second seed, Malone and the Nuggets averted disaster by finishing off the seventh-seeded San Antonio Spurs in seven games. However, they surrendered to the Portland Trail Blazers in seven games in the second round.

Michael Malone’s second contract extension with the Nuggets

Just a year after signing his first contract extension, Malone inked another with the team. Again, details of the deal weren’t disclosed.

In the 2019-20 season, Malone led the squad to a 46-27 record. Moreover, he guided the team all the way to the Western Conference Finals. However, they were defeated by LeBron James and the Los Angeles Lakers in five games to deny them an NBA Finals appearance.

For the next two years, the Nuggets were a playoff fixture. However, an injury to star point guard Jamal Murray ultimately hampered their campaigns that led to early playoff exits.

Michael Malone’s third contract extension with the Nuggets

After another playoff exit, the Nuggets’ faith in Malone never faltered. They rewarded Malone with a long-term contract extension with the team. As per sources, the deal should give Malone an annual paycheck of as much as $3 million.

Since the extension, Malone finally repaid the Nuggets organization by coaching the franchise to the Nuggets’ first-ever NBA championship in 2023, which convinced the Nuggets to sign him to the fourth contract extension.

However, the Nuggets were unable to repeat in 2024. They returned to the NBA Playoffs as the No. 2 seed, but after eliminating the Los Angeles Lakers in the first round, they lost to the Minnesota Timberwolves in seven games in the second round. The Nuggets were the first team to lose a Game 7 after leading by 20 points in the second half.

Nevertheless, were you at all stunned by Michael Malone’s net worth in 2024?