That's a lot yes but I think that most of them are going to taxes, commissions of their agents, etc. And it's possible that he has saved a bit but then don't have managed to be financially well.
It's a common issue for many NBA players and athletes.
NBA is truly purely business, if you don't play your cards well, you'll end up not getting a team.
So back up plan is always necessary, like having a livelihood after basketball, easiest is to start a business since he was able to raise a capaital.
Well, there are only few athletes who has been thinking forward ahead of their career. Those who understand the business, the probability of the length of their career, and how to handle their money in general. Some former superstars became broke because they fail to manage their finances.
One of the most successful athlete or NBA player who are most likely not going to get broke is LeBron as he have built an empire already outside the league.
I understand, a guy like Tony Snell are just a mediocre player in the NBA, but their salary is more than enough to make another living outside his career.