Hard Times for Evander Holyfield
Former heavyweight champion Evander Holyfield says he’s not broke. According to media reports he has grossed over $248 million in his career as a boxer. During one six-fight stretch (1996-99), he earned $107 million.
What happens to that kind of money? We’ll let’s take a quick look.
His 54,000 sq. ft. home that sits on 235 acres of land is in foreclosure. One of the biggest homes in the Southeast, it boasts 109 rooms, including 11 bedrooms, 17 bathrooms, a bowling alley, Olympic-size pool and a stable stocked with a half-dozen horses. The house is reportedly worth $10 million and is scheduled to be auctioned next month.
His child support payments for his 11 children are reportedly $500,000 a year. One ex-wife is complaining publicly that the former champ has missed two payments. At 45 years of age and having had three marriages, Holyfield told the Atlanta Journal Constitution newspaper, “I’m not broke — I’m just not liquid.”
The former champ has had success inside the boxing ring. The same cannot be said for his experience outside of the ring, especially with his business deals. Holyfield business interests, include his management company (Holyfield Management, Inc.), his clothing company (Warrior Properties), his record company (Real Deal Records), and the failed cable TV network (MBC) with co-owner, famed attorney Willie Gary.
June 13, 2008 at 5:18, pm
Say what they want. My house likes the champ. If we can help Champ let us know.
I met him at a charity baseball game. While he was in the dug out I called him out. I said if he he came out I was going to knock him out in the first three minutes. He peeped his head out with a real big grin. I sprang it on him; can I get your autograph. He signed my vip tag with a laugh. That VIP tag is stored with my life time treasures. Holyfield picked up black men when those who rooted for his adversary in the spirit of competiton, were embarrassed by the ear biting episode of mike. I gladly jumped the fence and defended Evander in my heart. I defended him then and defend him now. Where can we buy some of those clothes from Mr. Holyfield?
June 23, 2008 at 11:31, pm
This is why I don’t buy into the “wealth gap” hype. Wealth and income are not correlated. Wealth has more to do with conscious DECISIONS people make with their money. There is no excuse for squandering away $250 million without having some kind of safety net in place. Jesus, even a CD or mutual fund with 10% of that could have saved the day. I have no sympathy for him at all.
April 1, 2009 at 1:00, pm
Another example of having a dozen kids out of wedlock. That’s what it will do to you. If he was smart, he would have tucked away 15% away in a safe investment vehicle, then even if he blows the rest, he would still have 30 mil walking around money. what a waste. 500 million wouldn’t have been enough for this guy.
June 25, 2009 at 7:18, am
what a waste of money. his personel life is an embaressment, but some people still hold him out as a role model.he holds himself out as a religious person, but doesen’t practice what he preaches. just a bad role model all around. pretty sad!!!