Is Joe Hachem Broke?

Has 2005 WSOP Main Event chamption, Joe Hachem, gone broke?

There has been recent speculation about whether 2005 world champion, Joe Hachem has gone broke. His recent quiet run of poker tournament cashes, along with his separation from PokerStars has people wondering where his money is coming from.

Tournament Results

Joe Hachem is #1 on Australia’s tournament winnings list. This has largely come from his 2005 main event win, but he has had plenty of respectable cashes since then.

Here are a few of his biggest wins:
$10,000 No Limit Texas Hold’em – 2005 World Championship Event: $7.5 million
$15,000 WPT Doyle Brunson North American Poker Classic: $2.2 million
$100,000 Aussie Millions $100k Challenge: $339,726
$4,750 Main Event – No Limit Hold’em (The Big Event, LA): $300,000
$2,500 Short Handed No Limit Hold’em (WSOP 2006): $256,800

As you can see, Hachem’s talents and consistency boomed since his main event win in 2005.

Hachem has $11,860,080 to his name (as of June 2014), and even if you minus the main event win, he has won a very respectable amount of money.

Association with PokerStars

Off the back of his 2005 Main Event win, Hachem was picked up by PokerStars to be one of their ‘Pro’s’. This lucrative deal saw him bring in a very solid, steady income. Many of his tournament entries were paid for by PokerStars along with many other perks.

This association ended in 2011 when Hachem said “It’s been a great run with PokerStars and I’m proud of my association with the people and the company, but it’s time for me to pursue other career opportunities and it will be fun to have some down time to spend with my family. I look forward to the future with much excitement and anticipation and will always have fond memories of my time at PokerStars.”.

Being a PokerStars pro takes a lot of dedication which Hachem purely didn’t have the time for.

So is Joe Hachem Broke?

Looking at his previous success and the fact that he is still playing large buy-in tournaments, it is highly unlikely that Joe Hachem is broke. If he was struggling financially, he would have continued his association with PokerStars.

He is still a well known, famous pro in Australia and around the world, who is not broke. We will hear the phrase, “Pass the sugar” for years to come.