Home Money Consciousness 6 Famous People Who Lost All Their Money
Money Consciousness

6 Famous People Who Lost All Their Money

SimiJuly 27, 2017

6. Mike Tyson

It never ceases to amaze how some celebrities can earn so much money, vast fortunes that most people can barely fathom being in possession of, and yet somehow manage to vastly overspend these fantastic sums of money they have acquired.

It just goes to show you that people with financial problems aren’t suffering from a lack of money, but an inability to balance cash flow by keeping spending within means. If those same people suddenly had hundreds of millions of dollars, they would likely still end up with financial problems, just like many of these celebrities who are great at acting or boxing, but not at managing money.

Over the 20 years of his successful boxing career, Mike Tyson’s earning power was greater than anybody else’s on this list except for Donald Trump’s, accruing $400 million from boxing, yet he couldn’t make that money last and had to file for bankruptcy in 2003, $23 million deep in the hole. The money he couldn’t pay included a $9 million divorce settlement, back taxes to the IRS amounting to $13 million, and more back taxes to the British amounting to $4 million.

Tyson is making his money back with a memoir published in 2013, a television show, and appearances in Hollywood movies.