He was attempting to auction his trophies as early as 2002 and has filed for bankruptcy previously. Considering he's a citizen of Monaco and pays no taxes, his profligacy with money indicates a lifestyle of extreme excess. He's always been like this."Boom Boom's" bankruptcy has been extended indefinitely and he's been auctioning off his memorabilia. Anyone know what the latest is for him? No commentator work these days, obviously.
Hmm...doesn't look too remunerative.He was doing some commentator work recently
I believe Becker lives in London and his bankruptcy proceedings were enforced by a British court. Part of his profligacy was a $14.4 million divorce settlement with his first wife. Becker said in 2015 that he liked living in Wimbledon so much he was eventually going to apply for British citizenship. I can't determine if he actually did so.He was attempting to auction his trophies as early as 2002 and has filed for bankruptcy previously. Considering he's a citizen of Monaco and pays no taxes, his profligacy with money indicates a lifestyle of extreme excess. He's always been like this.
I always feel like Becker gets too much flak for his lavish lifestyle, which is the most visible element of his financial irresponsibility.
He certainly spends way too much money (often pointlessly - like luxury holidays on Ibiza despite owning a finca on Mallorca) and is ridiculously generous to his friends. But his real problem has always been his terrible business acumen. He has lost tens of millions of dollars on a whole host of bad investments, from car dealerships to TV channels to food companies. Throw in his bad romantic decisions and that's chewed up a huge proportion of his wealth.
I reckon the worst decision he ever made was breaking with Ion Țiriac. The old Romanian is mad as a sack of frogs, but he's a great businessman and was a solid mentor. If Becker had stuck with him, I reckon he would still have plenty of money despite his spending.
Boris is still a resident of Monaco as he has been since the age of 15, thus pays no residency tax in that country. He has a home in London, but he will spend less than 3 months a year there to avoid hefty British taxes for staying longer (though he'll pay a small portion). He remains a German citizen. Residency of Monaco is extraneous from citizenship. Djokovic, Raonic, Zverev, Dimi and Goffin all have Monte Carlo as their residence, but are citizens of their home countries.I believe Becker lives in London and his bankruptcy proceedings were enforced by a British court. Part of his profligacy was a $14.4 million divorce settlement with his first wife. Becker said in 2015 that he liked living in Wimbledon so much he was eventually going to apply for British citizenship. I can't determine if he actually did so.
There is one major difference between Becker and Federer:
Roger Federer: hang out with Warren Buffett, who owns NetJet and Federer was the spoke person for NetJet when he won his 15 GS tittles in 2009. Federer also hangs out with Bill Gates. I wouldn't be surprised if Federer hang out with Carlos Simms too. These three people give Fed advises on many matters including in the field of personal finance. Roger Federer is exactly like Lebron James (aka the king of basketball). King James hangs out with Warren Buffett too, and probably Steve Ballmer who owns the LA Clippers.
Boris Becker: an idiot who hang out with his entourages to his detrimental. Becker is very much like Allen Iverson of basketball. When you hang out with garbage, you get garbage.
That just shows you stupidity does not discriminate.
I always feel like Becker gets too much flak for his lavish lifestyle, which is the most visible element of his financial irresponsibility.
He certainly spends way too much money (often pointlessly - like luxury holidays on Ibiza despite owning a finca on Mallorca) and is ridiculously generous to his friends. But his real problem has always been his terrible business acumen. He has lost tens of millions of dollars on a whole host of bad investments, from car dealerships to TV channels to food companies. Throw in his bad romantic decisions and that's chewed up a huge proportion of his wealth.
I reckon the worst decision he ever made was breaking with Ion Țiriac. The old Romanian is mad as a sack of frogs, but he's a great businessman and was a solid mentor. If Becker had stuck with him, I reckon he would still have plenty of money despite his spending.
I always feel like Becker gets too much flak for his lavish lifestyle, which is the most visible element of his financial irresponsibility.
He certainly spends way too much money (often pointlessly - like luxury holidays on Ibiza despite owning a finca on Mallorca) and is ridiculously generous to his friends. But his real problem has always been his terrible business acumen. He has lost tens of millions of dollars on a whole host of bad investments, from car dealerships to TV channels to food companies. Throw in his bad romantic decisions and that's chewed up a huge proportion of his wealth.
I reckon the worst decision he ever made was breaking with Ion Țiriac. The old Romanian is mad as a sack of frogs, but he's a great businessman and was a solid mentor. If Becker had stuck with him, I reckon he would still have plenty of money despite his spending.
Absolutely. Most celebrities who go broke are not broke because of drugs, luxury and girls but due to bad investments. Celebrities with a lack of education are approached by shady businessmen promising huge profit margins telling them a nice story how this is a secret rich club and thus better profit. A smarter person would have known something is wrong if the someone offers twice the profit of the market but many celebrities get rich without higher education.
Of course sometimes even Harvard trained finance majors get greedy and fall for the quack ( Bernie Madoff) but usually those people are more careful with their investment because they have better information
Exactly.I better remind what a remarkable player Boris was.
good post, but it's quite far away from truth.
1. there is no market return. market is the average of everyone: stellar industries, stellar companies, average, mediocre and those going bankrupt
2. think of Google performance, or Apple or Facebook. Check the last 10 years vs the market average
3. there is a hole plethora of celebrities who invested in Facebook in early rounds, like 100k, and now that stake is worth multi-million. How does this compare to the market average?
4. there are quite some folks that invested in Amazon early on, where much smaller amounts than 100k of equity would be worth more than a Mio these days
lack of education? perhaps
margins above the market? that's the expectation of many investors
I would advise a tennis player to invest 0% of his money conservatively and only 10% more risky.
Thank you bro! Mats was amaizing also.Exactly.
Yes, glorious players that many of us miss...Thank you bro! Mats was amaizing also.
Is Mats broke too?Yes, glorious players that many of us miss...
Same thing happened to Hoad. Was talked into putting money into a bankrupt commercial plaza.Absolutely. Most celebrities who go broke are not broke because of drugs, luxury and girls but due to bad investments. Celebrities with a lack of education are approached by shady businessmen promising huge profit margins telling them a nice story how this is a secret rich club and thus better profit. A smarter person would have known something is wrong if the someone offers twice the profit of the market but many celebrities get rich without higher education.
Of course sometimes even Harvard trained finance majors get greedy and fall for the quack ( Bernie Madoff) but usually those people are more careful with their investment because they have better information
No, I don't think he is.Is Mats broke too?
Thank you, atatu. Anyone?Does anyone have an answer to the OP's question though ?
Does anyone have an answer to the OP's question though ?
Nevertheless, I find Becker quite articulate. He's also a fine commentator and obviously a good communicator (witness his success with Djokovic).I loved boris but let’s not forget becoming world number 1 And winning Wimbledon aged 17 means not spending a lot of time in school.
I loved boris but let’s not forget becoming world number 1 And winning Wimbledon aged 17 means not spending a lot of time in school.
Becker was playing $25,000 buy in poker tournaments online the other day on GG Poker in what might be the highest level field online, and people were dumb enough to buy action of him lol
He's probably sponsored by the that poker site, so he'd probably be freerolling, doesn't have to pay the buy-in, but gets to keep the money if he wins.Wonder where he got this $25,000 from if he's supposed to be bankrupt?
He's probably sponsored by the that poker site, so he'd probably be freerolling, doesn't have to pay the buy-in, but gets to keep the money if he wins.
Way too lazy to figure out if he cashed but if he'd gone deep into that tournament I'm sure I'd known. Winner got over 2MIf he's bankrupt it should immediately go towards paying off one of his creditors.