Misc: Boris Becker going to prison

Dude owed almost 50M pounds to his creditors when he filed for bankruptcy. His lifetime tennis earnings were about 38M pounds. I'm fairly certain that he didn't earn 12M pounds in the 18 years afer his retirement so he essentially owed more in debt than he had ever made in his lifetime.

I'm no accountant, but that doesn't seem sustainable...
 
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Dude owed almost 50M pounds to his creditors when he filed for bankruptcy. His lifetime tennis earnings were about 38M pounds. I'm fairly certain that he didn't earn 12M pounds in the 18 years afer his retirement so he essentially owed more in debt than he had ever made in his lifetime.

I'm no accountant, but that doesn't seem sustainable...
You are correct. Maybe he thought he could mimic a government business model.
 
Dude owed almost 50M pounds to his creditors when he filed for bankruptcy. His lifetime tennis earnings were about 38M pounds. I'm fairly certain that he didn't earn 12M pounds in the 18 years afer his retirement so he essentially owed more in debt than he had ever made in his lifetime.

I'm no accountant, but that doesn't seem sustainable...
It boggles my mind to try and understand how somebody that made 38 million during their career would ever even need to take out a loan for anything...
 
It boggles my mind to try and understand how somebody that made 38 million during their career would ever even need to take out a loan for anything...
What people think they "need" tends to very easily expand to take up all of their income. This is especially true when a guy, like Becker, starts coming into real money at a young age. Becker won Wimbledon at 17. He lived a rich lifestyle while successful on the tennis circuit. He had a wife and kids who also expected such a lifestyle and expected him to pay for it after a divorce. Many divorce decrees for the wealthy saddle the breadwinner with obligations that while reasonable at the time become unsustainable once their income comes down to a more pedestrian level, especially if they spent money pretty much as fast as they earned it.
 
I'd keep his partner entertained for a weekend. Realistically it might be the opposite but I'd be good with it.
 
You are correct. Maybe he thought he could mimic a government business model.
Well the Federal Government’s total debt is 31-ish trillion, but US household income is over 150 trillion. Also Americans age 70 and older had a total net worth of more than 35 trillion as of the middle of last year. So not exactly as dire a situation as Boris is facing.
 
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Well the Federal Government’s total debt is 31-ish trillion, but US household income is over 150 trillion. Also Americans age 70 and older had a total net worth of more than 35 trillion as of the middle of last year. So not exactly as dire a situation as Boris is facing.
That doesn't sound very good!
 

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