[HPFGU-OTChatter] Bankruptcy

[Iggy McSnurd]

> 
> I heard the other day that Mike Tyson (he is a boxer) earned $200
> million over his career, but just declared bankruptcy.  He made less
> than $100 in November of last year, and he claims he only has about
> $5000 now.
> 
> I wonder how anyone can waste that much money, and I wonder if other
> famous people have done that.  I can't think of any right now besides
> the singer MC Hammer.
> 
> Paula
> 

Iggy here:

Well, you also have to remember who his wife was (Robin Givens) and how
much she took him for in their divorce... and then there's what he had
to probably pay her mother in restitution for the alleged abuse of her.
(I say "alleged" since I don't recall if it was proven or not.)

Then there's the amount Don King probably took as his manager, and the
entourage he had to pay the salaries of (much like MC Hammer had to).  

He also spent a lot of time in prison and didn't make any money there,
but he would still have paid the taxes on the property he owned and
such.

There's a lot of ways he could have drained through his cash to declare
Chapter 11.  

Unfortunately, I don't think he will come out of it as well as Hammer
did.

(For those who don't know, Hammer is now a minister on TV... not a
televangelist, though.  I sat and watched him for a little while a
couple of times, and he's actually very good at it, even from a
non-Christian point of view.)


Iggy McSnurd