Allen Iverson
This 11-time NBA all-star reportedly earned over $160 Million in salary alone, and that doesn’t take into account his endorsements from Reebok ($50 Million), and other sources. It took only 3 years to get rid of it all.
There’s the usual reasons, gambling, flashy cars, strip clubs and houses, what he hated most was luggage. He never carried any, and just bought himself and his entire entourage whatever they needed, wherever they were. Now, as a super talented athlete, he spend half his year on the road, and the other half partying, so it adds up. He also spent $10K a month on groceries and another $10K on restaurants. Who was eating all that food?