Boris Becker (once a billionaire) is completely broke

Once the youngest player to ever win the Wimbledon men's tennis singles championship, 49-year-old German-born tennis star, Boris Becker, has been declared insolvent by a UK Bankruptcy and Companies Court.

Becker at one point boasted a personal fortune of over £100 million.

According to a 2009 study by Sports Illustrated Magazine, 78% of NFL players go bankrupt within two years post retirement due to joblessness or divorce.

About 60% of former NBA players are broke within five years of retirement.

The Money Show’s Bruce Whitfield interviewed Henry van Deventer, Head of Wealth Strategy at Old Mutual Wealth.

Research by the National Endowment for Financial Education showed that 70% of those who receive a large windfall of money, end up going bankrupt a few years later, said Van Deventer.

For more detail; listen to the interview in the audio below.

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
2 red-hot JSE-listed shares to buy, right now (by Ashburton)

2 red-hot JSE-listed shares to buy, right now (by Ashburton)

The Money Show’s Bruce Whitfield interviews Suvasha Kander, a Fund Manager at Ashburton.

Let us do something unusual which will annoy the establishment – Tito Mboweni

Let us do something unusual which will annoy the establishment – Tito Mboweni

Bruce Whitfield asks Kevin Lings (Chief Economist at Stanlib Asset Management) for a preview of next week’s "mini-budget".

Ramaphosa sets cut-off date for plan to fix collapsing public healthcare system

Ramaphosa sets cut-off date for plan to fix collapsing public healthcare system

The Money Show’s Bruce Whitfield interviews Dr Nicholas Burger, a Healthcare Consultant at Frost & Sullivan.

Hillary and Bill Clinton, Caster Semenya at Joburg's Discovery Leadership Summit

Hillary and Bill Clinton, Caster Semenya at Joburg's Discovery Leadership Summit

The Money Show’s Bruce Whitfield interviews Jim O'Neill, a former chairperson at Goldman Sachs Asset Management.

How to have a good day

How to have a good day

Forbes and Inc. call “How to Have a Good Day” a “top must-read business book”. Bruce Whitfield interviews author Caroline Webb.

'I’ve never invested in the stock exchange. I know it too well'

'I’ve never invested in the stock exchange. I know it too well'

Bruce Whitfield interviews Prof Lorenzo Fioramonti (UP) about his attitude toward money (hopes, fears, successes, failures, etc.).

Popular articles
'I’ve never invested in the stock exchange. I know it too well'

'I’ve never invested in the stock exchange. I know it too well'

Bruce Whitfield interviews Prof Lorenzo Fioramonti (UP) about his attitude toward money (hopes, fears, successes, failures, etc.).

Feasibility study for Gautrain expansion completed but no approval yet

Feasibility study for Gautrain expansion completed but no approval yet

MEC for Transport Ismail Vadi says the feasibility study has been submitted to Treasury for consideration and formal approval.

Magashule has never taken responsibility for anything says Mxolisi Dukwana

Magashule has never taken responsibility for anything says Mxolisi Dukwana

Dukwana accuses Magasshule of taking him to Saxonwold and asking him to sign a project over to the Guptas for R2 million a month.

Judge in Omotoso case dismisses defence application to recuse himself

Judge in Omotoso case dismisses defence application to recuse himself

Judge Mandela Makaula has dismissed the defence application saying it has no merit.

'As long as I'm mayor, I'm not going to sit back and watch criminals take over'

'As long as I'm mayor, I'm not going to sit back and watch criminals take over'

City of Johannesburg Executive Mayor Herman Mashaba says criminals cannot be allowed to threaten service delivery in the city.