These Athletes Have Lost Their Jobs And Their Millions
From Colin Kaepernick and Michael Vick to O.J. Simpson and Evander Holyfield, see the richest athletes in the world who are now broke on The Finance Chatter!
Kenny Anderson – Child Support
USA Today Sports
According to Sports Illustrated, 60% of NBA players will file for bankruptcy within five years after retirement. That certainly was the case of Kenny Anderson. After spending 14 years in the NBA, playing for multiple teams, Anderson amassed a fortune worth $63 million. That sounds like plenty of money, right? Well, not for Anderson apparently…
Believe it or not, Anderson’s most significant expense turned out to be monthly child support for seven children, to five different women! That came to about $40,000 a month – each. Unfortunately, Anderson didn’t have a backup plan or a high enough income. Eventually, though, he managed to complete his college degree and put his life back together after going bankrupt.
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