Ben Simmons, the star point guard for the NBA's Philadelphia 76ers, has an estimated net worth of $75 million. That figure will definitely rise in the next five years, as Simmons recently inked a $170 million contract with the 76ers.

As Simmons continues his ascent to the highest echelon of professional basketball, expect that net worth figure to rise even higher, given his even-higher public profile. Extra cash from sponsorships, personal branding, and investments should lead Ben Simmons to continue adding to his net wealth for years to come.

Early Life

Australia might not be the first country one thinks of as a hotbed of basketball talent, but that's where Ben Simmons was born on July 20, 1996, Melbourne, Victoria.

His father, Dave Simmons, is American, while his mother Julie is a native Australian. Simmons grew up in a busy household, with five siblings - three girls and two boys - and sports proved an early outlet for the young Ben.

Basketball was in the family blood and it's a sport that Ben Simmons took to early on in life. His father played college basketball at Oklahoma State University and played professionally with the Melbourne Tigers in Australia's National Basketball League.

Ben Simmons began his basketball life at seven years of age, playing in an "under-12" league in nearby Newcastle. Simmons also played rugby as a teenager, as did many of his peers in the rugby-mad country. While Simmons excelled on the rugby pitch, and later on as an award-winning player in Australian Rules Football, his athletic arc turned back to basketball.

At age 15, Simmons began to separate himself from his peers on the hardwood, earning a coveted spot on the Australian 2012 FIBA under-17 team, where the Aussies won a silver medal, thanks in large part to Simmons' stellar play.

Simmons was so highly rated as a young basketball player that his parents moved him to the U.S. and the Montverde Academy in Montverde, Fla. He became the star player on a team that won the High School National Tournament after being down 16 points in the second half of the championship game.

During his junior and senior years at Montverde, Simmons continued to excel, leading his squad to a 28-0 record during his junior years and land a spot at the McDonald's (MCD) - Get Report High School All-American game, along with high-caliber players that were destined to attend blue-chip college programs.

That year, Simmons accepted a scholarship at Louisiana State University and was listed by many sports publications as the highest-rated high school player in the U.S. His one and only year playing for LSU saw him return to Australia on a goodwill exhibition tour where he once again excelled in front of Aussie crowds. He also earned all-conference honors in the vaunted NCAA Southeastern Conference that year or LSU.

Halfway through the season, Ben Simmons was already drawing a comparison to NCAA legends like Shaquille O'Neal (another LSU hoops hero) and LeBron James. He ended his year at LSU as a first-team SEC All-Star, although LSU had a mediocre season, finishing with an 18-13 record, and failed to make the NCAA tournament.

Immediately after the season ended, Simmons entered himself into the 2016 NBA draft where the 76ers selected him with the No. 1 overall pick in the draft.

Ben Simmons and the 76ers

Simmons' professional basketball career started out with a setback, as he injured his right ankle in a pre-season team scrimmage.

Initially, the injury was expected to keep Simmons out for only three months, leaving him plenty of time to suit and play for the 76ers for the last few months of the season. The 76ers decided out of caution for their start rookie's future to sit Simmons down for the 2016-2017 season, and target him for the next year when he was better acclimated to the grueling life of an NBA player.

The 2017-2018 NBA season was something of a coming-out party for Simmons, who excelled as a ball-handler, defender and passer. What Simmons lacked was an NBA-ready shot, a trend that would follow him throughout his first several years in the league.

That lack of shot-making prowess didn't stop Simmons from becoming the third rookie in NBA history, along with legends Magic Johnson and Oscar Robertson, to finish his first full season with 1,000 points, 500 rebounds, and 500 assists.

He finished the 2018-2019 season as a first-team all-star and along with fellow teammate Joel Embiid as superstar building blocks that would led the 76ers deep into the playoffs that year and on the shortlist of teams that would contend for an NBA championship going forward.

Ben Simmons' New Contract for Big Money

This offseason, the 76ers signed Ben Simmons to what the NBA calls a "rookie max-extension" contract, keeping the superstar with the team for the next five years.

Under the terms of the deal, Simmons will earn a total of $170 million over the course of the contract. That was the maximum amount of salary Simmons could earn for the 76ers, and leaves him in a great position to receive another max contract from either the 76ers or another team signing Simmons as a free agent in 2026 when Simmons would still be a young 29 years old.

The new contract with the 76ers would commence in the 2020-2021 NBA season. In the meantime, Simmons continued to play for his rookie contract, which stands at an estimated $8.1 million for 2019-2020. He earned a salary of $6.4 million from the 76ers for the 2018-2019 season.

According to the terms of the new contract, here's what Ben Simmons will begin collecting from the 76ers on his new contract starting in the 2020-2021 NBA season, and for each season concluding with the 2025-2026 season, when his contract ends.

2020-21: $29.25 million

2021-22: $31.59 million

2022-23: $33.93 million

2024-25: $36.27 million

2025-26: $38.61 million

Total amount owed to Simmons: $169.55 million

With incentives and bonuses (like if Simmons wins a league MVP award or is named to an All-NBA Team), Simmons could earn $30 million more over the length of the contract, according to NBA rules.

During his first four years in the league, Simmons will have earned a total salary of $26.6 million leading into his new contract starting next year.

Ben Simmons' Endorsements

Ben Simmons primary endorsement is with the athletic apparel giant Nike (NKE) - Get Report , which signed the hoops supernova to a $20 million contract during his rookie season, making Simmons the third highest-paid NBA rookie ever. The deal does offer bonus incentives that could boost his Nike contract to $40 million in value.

Simmons also has multimillion-dollar sponsorship deals with Beats by Dre and Upper Deck.

Now that he has signed a max contract with the 76ers, which should put him in the limelight as he stars on an NBA championship-caliber team, expect more endorsement cash to come Ben Simmons way in the coming years.

Ben Simmons' Private Life

Simmons lives his private life close to the vest, and keeps his family, friends and social life largely to himself.

He reportedly lives with family members in a Philadelphia home he purchased several years ago and is known to lay out some cash for new cars -- a special passion. He reportedly owns a Bentley and a Ferrari (RACE) - Get Report , among other high-end vehicles.

It's never too late - or too early - to plan and invest for the retirement you deserve. Get more information and a free trial subscription toTheStreet's Retirement Dailyto learn more about saving for and living in retirement. Got questions about money, retirement and/or investments?