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Mike Tyson

The heavyweight champion earned an estimated $400 million in his career. But much of his wealth went toward buying homes, jewelry, drugs – and two divorce two divorce settlements. Some of his extravagant purchases included a $2 million bathtub and $140 million for two Bengal tigers. He filed for bankruptcy in 2003, listing $27 million in debts. Of those debts, he owed the IRS $13.4 million. http://www.thesmokinggun.com/file/mike-tyson-broke?page=0 Tyson is hoping for a comeback of sorts; he’s scheduled to star in a one-man show about himself, set to premiere next month at the MGM Grand in Las Vegas. Photo: Tyson speaks onstage at Comedy Central's Roast of Charlie Sheen on September 10, 2011 in Los Angeles, California.

Athletes Who've Lost Millions

March 30, 2012

Retired basketball star Magic Johnson recently made news with his purchase of the L.A. Dodgers for $2 billion. But not all professional athletes have maintained their fortunes. Dennis Rodman was the latest to go broke. Dozens of athletes have filed for bankruptcy, had their homes foreclosed or lost millions in other ways. Read on to see which athletes ended up broke at one point in their lives. --by Caroline Kim