Famous Celebrity Bankruptcy #3: Mike Tyson
Despite earning an estimated $400 million in his boxing wins and more, by 2003 Mike Tyson was neck deep in debt — mostly because he couldn’t stop spending. His purchases ranged for jewelry to mansions to even exotic tigers (yup, The Hangover was based on reality). His assets at the time were just a little less in his debt — some $50 million.
So what to do, what to do? Bankruptcy for the mega-celebrity sports star.