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Celebrity Bankrupts - Mike Tyson
Tuesday, November 6th, 2007Possible the most spectacular showbiz/sporting bankruptcy, having spent his way through £300 million dollars, Boxer Mike Tyson filled for bankruptcy in 2003.
The youngest-ever heavyweight champion at just 20, Tyson’s skills and brute power marked him out as a prodigious talent from the moment he made his professional debut.
37 years old at the time of his bankruptcy, he spent extravagantly on mansions, Bentley cars, jewellery, and even pet Bengal tigers while buying expensive gifts for his large entourage.
“As a professional fighter who relied on others to manage his affairs, he discovered that his debts far exceeded his assets,” Tyson’s attorney Debra Grassgreen said at the time.
Tyson papers stating that he is $27 million in debt, including $17 million in back taxes he owes in the United States and the UK.
Some the debt listed include:
- a limousine company ($308,749);
- a Las Vegas jeweler ($173,706);
- a New York rug store ($78,000);
- Ferrari of Beverly Hills ($60,603);
- a Hawaiian resort ($30,000).
This is a clear example of how ever then super rich sometimes do not have the comman sense to manage their finances.
