10 Athletes Who Lost Their Fortune and Made It Back Again
These athletes went from riches to ruin—but found a way to rebuild their wealth.
- Chris Graciano
- 3 min read
Earning millions in professional sports doesn’t always guarantee lifelong financial security. Some athletes squandered their fortunes through bad investments, reckless spending, or legal troubles, only to claw their way back to financial stability. Here are 10 sports stars who lost it all and found a way to bounce back.
1. Mike Tyson – From Bankruptcy to Business Mogul
Eduardo Merille on Wikimedia Commons
At his peak, Tyson’s net worth was over $300 million, but bad management, lavish spending, and legal issues led him to file for bankruptcy in 2003. He lost mansions, cars, and even pet tigers.
2. Allen Iverson – Blowing Millions to Smart Planning
Keith Allison on Wikimedia Commons
Iverson earned over $200 million in his NBA career but spent it recklessly on luxury cars, jewelry, and an entourage. His financial troubles were so severe that he once couldn’t afford a cheeseburger.
3. Floyd Mayweather – Spending Sprees and Smart Investments
rcelis on Wikimedia Commons
Despite making nearly a billion dollars in his boxing career, Mayweather’s extravagant lifestyle—buying fleets of luxury cars, private jets, and gambling—put him in financial jeopardy. He rebounded by returning to the ring for highly lucrative exhibition fights and building a successful promotional company.
4. Dennis Rodman – From Broke to Global Ambassador
GabboT on Wikimedia Commons
Rodman’s wild spending, legal troubles, and child support debts left him nearly broke after retirement. He made a comeback through media appearances, book deals, and even an unexpected diplomatic role with North Korea.
5. Michael Vick – Prison to NFL Comeback
Austin512 on Wikimedia Commons
Vick lost over $100 million after being convicted for his involvement in a dogfighting ring, filing for bankruptcy while serving time. Most thought his career was over, but he returned to the NFL with the Philadelphia Eagles, securing a $100 million contract.
6. Latrell Sprewell – From Rejecting Millions to Rebuilding
Markus Spiske on Unsplash
Sprewell infamously turned down a $21 million contract, claiming it wasn’t enough to feed his family. He later went broke due to poor financial decisions, losing homes and yachts. Eventually, he found stability through business ventures and NBA-related appearances.
7. Antoine Walker – Losing $110M and Fighting Back
Keith Allison on Wikimedia Commons
Walker earned a fortune in the NBA but lost it all due to gambling, bad investments, and an extravagant lifestyle. After filing for bankruptcy, he worked hard to rebuild his life, finding success in real estate and financial education programs.
8. Marion Jones – From Olympic Glory to Financial Ruin
Thomas Faivre-Duboz on Wikimedia Commons
The former Olympic sprinter lost everything—her medals, endorsements, and wealth—after a doping scandal landed her in prison. She later rebuilt her life by playing professional basketball and writing a book, gradually regaining financial stability.
9. Evander Holyfield – Foreclosure to Financial Recovery
Shelka04 on Wikimedia Commons
Holyfield made over $250 million in his boxing career but lost nearly all of it due to bad investments and extravagant spending, including maintaining a 109-room mansion. He eventually bounced back through public appearances, business ventures, and mentoring young fighters.
10. Oscar De La Hoya – Addiction Battles and Business Success
DEWALT POWER TOOLS FIGHT NIGHT CLUB 2010 on Wikimedia Commons
De La Hoya struggled with substance abuse, losing millions in the process. However, he turned things around by focusing on his boxing promotion company, Golden Boy Promotions, which became one of the most successful in the industry.