Fredrick Kristian Hoiberg was born on the 15th October 1972, in Lincoln, Nebraska USA, and is a former professional basketball player and now coach – currently the head coach of the Chicago Bulls of the National Basketball Association (NBA). Hoiberg also played shooting guard in the NBA for the Indiana Pacers (1995-1999), Chicago Bulls (1999-2003), and Minnesota Timberwolves (2003-2005). His playing career started in 1995 and ended in 2005, while his coaching career started in 2010.
Have you ever wondered how rich Fred Hoiberg is, as of early 2017? According to authoritative sources, it has been estimated that Hoiberg’s net worth is as high as $9 million, an amount earned through his successful playing and coaching career. Hoiberg’s annual salary is now $5 million, so his wealth is likely to rise.
Fred Hoiberg Net Worth $9 Million
Fred Hoiberg is a son of an elementary school teacher mother and Iowa State sociology professor father. Hoiberg went to the Ames High School in Iowa, where he was a quarterback of a football team and captain of the basketball team, leading his team to the state championship and earning the State of Iowa’s “Mr. Basketball” title before enrolled at Iowa State University in 1991, and graduating in1995.
The Indiana Pacers selected Hoiberg as the 52nd pick overall in the 1995 NBA Draft, but he didn’t have the best time while in Indiana, starting in only two games in four seasons before signing for the Chicago Bulls as a free agent in 1999. In Chicago, Fred had a much bigger role than with the Pacers, and in 2000-01 season, he averaged a career-high 9.1 points, 4.2 rebounds, and 3.6 assists in 30.4 minutes per game, including 37 start-outs of 74 matches he played in. In late July 2003, Hoiberg signed a deal to join the Minnesota Timberwolves as a free agent, which only increased his net worth. He stayed there for the next two season before retiring in April 2006. He will be remembered as the only player who led the league in three-point percentage, but didn’t get an invitation to the 2005 three-point shooting All-Star event.
In April 2010, Fred replaced Greg McDermott as the head coach at Iowa State University and recorded 16-16 that season, while the next year, he led them to 23-11 record and the first NCAA Tournament since 2005. In 2012-13, the Cyclones had 23-12, but they were defeated in the NCAA Round of 32, then in 2013 Hoiberg signed a 10-year $20 million deal with ISU, and that season was his most successful, as he led the team to 28-8 record and the NCAA Sweet Sixteen.
In December 2014, Fred became the fastest Iowa coach to record 100 wins, drawing the attention of the Chicago Bulls, and the following June they appointed him as the new head coach on a 5-year, $25 million contract, increasing his net worth to a large degree. Hoiberg failed to take the Bulls to the playoffs with a 42-40 record, which was the first time in eight years they didn’t reach the postseason. At the moment, the Bulls are fighting for one of the places which will lead into the 2017 playoffs.
Regarding his personal life, Fred Hoiberg is married to Carol and has four children with her. He currently resides in Chicago, Illinois. In April 2015, he had a successful replacement of his aortic valve.
