How Do You Blow $248M?
Evander Holyfield who is the former heavy weight champion of the world and a bit of an ear less than the rest of us, is apparently broke. How broke? He doesn't even have enough money to pay a few thousand bucks for child support. According to TMZ Evander's ex and mother to their 11 year old child, Evander has ignored a court order that he pay all back child support by September 1st. Umm, it is now the middle of October and still no money so his ex is going to court to have Evander either pay or go to jail.
If someone wants to blow $248M in a few years that is their right, but you would think at some point when he was earning millions of dollars per fight that he might of set a little something aside to take care of his child. I understand his need to probably have a staff of 50 to make sure he never had to actually set his feet on the ground or lift a hand, but don't you think that perhaps the child you had would come first before you decided on the hookers, strip clubs and booze?
Evander, who is now 46 is attempting to get another fight. Yeah, that should be a lot of fun to watch. For the 30 seconds it lasts he can tell his kids he is doing it for them. The trouble is he should have been doing it for his kids the whole time.
18 comments:
you blow it on 50 ex wives, child support for 101 kids, a house the size of texas, young gals, etc.
george foreman should have been your mentor. sheesh...
Maybe he can go up against Michael Lohan.
Some of these guys just have no business sense. They come from "da hood" get some money but never leave "da hood" mentality. They go overboard with frivolous expenditures, never invest or save for the future without ever thinking that it can and will end eventually.
Don't know if I pity people like this or want to slap them upside the head.
I'm not sure how anyone could spend that much money, but if you're reading this Warren Buffet, I'd be happy to run the experiment for you. Now I've gotta go watch "Brewster's Millions" again...
evander didn't seem bright to me. i do agree montana, but let's add some common sense to the mix too.
He obviously wasn't paying a financial advisor.
Was DON KING his manager ????
One word:
gambling.
Charles Barkley wouldn't have to be working right now if he hadn't blown all his shit on gambling.
I feel sorry for people who don't know about the right investments to make or legal tax shelters to look for, but I don't feel sorry for people who do end up with such a large windfall and end up blowing an entire fortune on stupid shit. Even the least educated person should have enough common sense to know the concept of a savings account and that they should put some of that fortune away for a rainy day. Because when you have money banks are more than willing to help you out and point out that a CD or bond is better than a savings account for large sums of money (for them too of course..interest). But if you don't even bother going to the bank to set up a savings account you won't learn.
I think it should be added to Murphy's Law, b/c it certainly seems to be true: the more kids by different women a man has, the less likely he is to ever pay child support or be involved in any of the kids lives. You'd think after the second or third kid at the latest, a guy would think "I need to start wearing a condom or get a vasectomy or something." But no...and this fool has 11.
248 mil is a lot, but if I'm not mistken this is how much he earned over the course of his career, or the biggest point in his career? Still a lot to waste, but with no apparent financial advisor (at most just a really crooked and inept accountant) I am betting about half of that got eaten up by taxes alone. No investments were made, clearly.
didn't anyone learn anything from MC Hammer????
Well, I actually am a person who works in the field of finance and accounting, and I don't really believe that he doesn't have any money. The key words are "child support."
Sorry, not snitching just commenting.
Any person who is savvy about their money would do the same. Don't you think he has had a great accountant since the time he had all that money? Everyone whose net worth is that tremendous has a trusted accountant/ financial consultant who knows things that most others won't recognize.
I am not saying that his accountant is doing anything illegal, because accountants are trained very thoroughly in ethics.
I am just saying that there is more to the story, esp. knowing that he has an ex-wife.
Bad Fish, that'll do it. Gambling addiction can be as destructive as drugs.
It really can. I mean, even Pete Doughtery....with Amy Winehouse...couldn't blow all that money in that time on drugs and alcohol. Even if you added hookers to the mix, I still don't think it could get that expensive. My money is on gambling (lol). That, and trying to hide how much he's worth because of child support.
He probably only saw 20 million if Don King was his manager.
funny how him and Donald Trump were both broke when they file for divorce. Like to know where they hide all that money
Wonder if anyone has checked his Bahamas or Swiss account just to make sure hehehe.
some "men" will do anything to avoid paying child support.
first they have to FIND your assets before they can kick
it!
your asset(s), that is.
that was funny in my head.
anywho, child support is based on earnings during the marriage, and your earning status at the time of divorce.
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