Many professional athletes make millions of dollars, but most of them have little experience managing large sums of money. Here are six athletes that went bankrupt!
1. Mike Tyson – $400 million
The famous heavyweight champion, earned about $400 million during his boxing career but spent almost all of his money on mansions, exotic pets, and his divorce.
2. Evander Holyfield – $250 million
After a failed music business venture, Holyfield, who has 11 kids, failed to pay child support and his estate was auctioned off.
3. Michael Vick – $130 million
After going to prison for being a part of a dog fighting ring, Michael Vick lost his $130 million NFL contract and filed for Chapter 11 bankruptcy in 2008.
4. Antoine Walker – $110 million
After taking out large loans from eight different banks, Antonie Walker lost about $110 million on his real estate venture.
5. Deuce McAllister – $70 million
Deuce McAllister, a Pro Bowl participant, didn’t have much luck with his business venture. He lost $70 million on his Nissan dealership.
6. Arantxa Sanchez Vicario – $60 million
The tennis player claimed that her father took over control of her money and gave her a monthly allowance! Unfortunately her father mismanaged her $60 million in earnings and left her with nothing.