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.


8 Responses to “Hard Times for Evander Holyfield”

  1. Daverick Marcus Says:

    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?

  2. 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.

  3. Travis Roste Says:

    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.

  4. 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!!!

  5. Sweetfox Says:

    You guys judge way too much while not walking in someone elses shoes. It isnt about feeling sorry for him physically or financially but spiritually. You are mad that you don’t have his money and status but would risk what he has had to to be as good as he has been. It is life and he is still a human that we are not fit to judge unless we want the same treatment.

    • I actually agree with much of what you said Sweetfox. I don’t think we judge him way too much and I can tell you for sure that we are not mad that we don’t have his money. I don’t want his money. Never have. More money, more problems. I do agree that it is his life and he should live it the way he wants to.

  6. It is very easy to critize on the other side of the fence. Understand this, when you come from nothing and have an opportunity to make that kind of money, with no former knowledge of how to handle money, well you end up like this. People, lets talk to our kids and explain the value of investing and managing our money even at their youngest age. Perhaps Mr. Holifield is an example, We should not talk down on this ikon, as broke as he may seem to be, only he knows his financial situation, he is still more sucessful than most will ever be even in his current state.
    Those that are talking down on him, I have a question for you, How much money you got??

    Much Love Mr. Holifield, you will always be a CHAMP..

  7. just because a person is a great boxer doesnt mean he is a great money manager. In Mr Holifieds case if he would have spent as much time learnig how to spend his money as he did trying to make his money he probably would have fared much better. I just hope he’s not to proud to go to the post office and fill out an application.

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