Controversies and Gabby Thomas go hand in hand, it seems. But she isn’t one to let these things get to her. After all, she is a 3-time Olympic gold medalist. But, unlike what many think, the path to the Olympics isn’t sewn with money and glory. That is because while the glory might be there for the money part, athletes mostly have to take care of themselves. And after all these years, Gabby decided to shed light on how those she trusted were about to rob her out of this very Olympian dream. But how? And Why?
“You need to see every little detail, every line item,” Thomas said and why not? Chasing Olympic glory is an expensive dream, demanding relentless effort, resources, and a team that truly has your back. Not to mention, Gabby learned the hard way that speed on the track doesn’t always translate to success in financial matters. In her own words, the money she had invested had fizzled out from under her nose.
Opening up at the ‘Your Rich BFF’ podcast with former Wall Street trader Vivian Tu, Gabby Thomas revealed her biggest financial mistake. She mentions, “I had a team before, you know, that was handling a lot of my contracts, my deals, and my partnerships. It was somebody that I was introduced to, and I thought I could trust them.” Gabby then goes on to mention how that decision cost her dearly. She said, “But I was young, and I thought I could trust anyone because they were nice to me.”
But after all, isn’t it natural to place some degree of faith in your team? They were hired to keep her finances in check, after all. Well, not. As Thomas mentions, “The contracts and deals I had—they were definitely taking more money from me than they should have been.” It was found out that her team was taking advantage of her trusting nature and embezzling a lot of her money. Gabby mentions how her blind trust was her biggest mistake.
She further added, “Maybe this is my biggest financial mistake—just trusting people who have too much conflict of interest in your life.” This is a harsh reality for athletes and celebrities alike—mismanagement and deceit within their teams are more common than one might think. Even athletes like Usain Bolt had to face the same. In 2023, he lost $12.8 million in a shocking scandal.
The 28-year-old stressed the importance of personal vigilance, saying, “You have to pay attention to your business, the deals you’re signing, the contracts, and actually what’s going on with your money—how your money is being moved.” Many athletes emphasize financial liberty and financial understanding to save themselves from such frauds. As Jordan Chiles also said a few days ago, financial literacy is of utmost importance.
But Thomas has since taken control of her finances, emphasizing that blind trust is never the answer. She mentions, “I would say every time you sign something, every time someone owes you money, you need a deadline for when you’re getting paid.” This decision has shown itself to be rather beneficial for the sprinter, as she went on to endorse New Balance in a multi-year deal. In addition to this, she also became one of the top athletes for Athlon, an event set to become one of the biggest independent track meets. Also, with one of the biggest bags.
“There’s nobody else I can blame if my finances go sideways,” she said, emphasizing personal accountability for her expenses. Her final lesson? Surround yourself with the right people, but never take a hands-off approach. “I found the right people over time, but it’s also why mentorship is so important and reaching out to people who’ve been through it.” But while Gabby Thomas found the reality of blind trust pretty early on in her career, some others weren’t so lucky. One of them is The Lightning Bolt.
Usain Bolt’s case proves that Gabby wasn’t the only one
Gabby Thomas is one of the many athletes who had their money compromised by the very team they trusted. One of them is Usain Bolt. And during her podcast with Vivian, Thomas brings him as well. But what happened to Bolt, you say? Well, the 8-time champ was blindsided when he discovered that $12.8 million had vanished from his investment account. The culprits? A Jamaican firm that had been handling his finances, fabricating statements to make it seem like his money was secure.
By the time he realized the truth, only $12,000 remained in his account—an unimaginable loss for one of the greatest athletes in history. Bolt’s reaction was a mix of shock and legal action. His lawyers demanded the full amount be returned, but the damage had already been done. The case became a national scandal, raising questions about financial oversight in sports.
Unfortunately, this isn’t just a one-off incident. Many athletes place their trust in financial managers and agents only to realize too late that their wealth has been mismanaged or stolen. The speedster who once dominated the track now had to fight an off-track battle for his hard-earned fortune. Gabby Thomas couldn’t help but relate to Bolt’s ordeal while talking to Vivian Tu.
She mentions, “Usain Bolt right now is going through something like this publicly, where his team took six million US dollars of his money under his nose. He had no idea—they were sending him fake documents.” Her words highlight a painful truth: when money is involved, trust alone isn’t enough. Yet, just how many things can an athlete focus on? There’s their career, their personal life, and much more. What do you guys think? Is there another way?
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