Mike Tyson has said that he was not very good at managing his finances, and would splurge most of it on booze and drugs.
By 2003, he had lost most of his 300-million-dollar fortune and was declared bankrupt.
"I would drink 3,000-dollar bottles of brandy all day long and take cocaine all night, then get up and drink more," the Sun quoted him as saying.
"It didn't matter. I couldn't handle money. For me, money meant alcohol and drugs," he said. (ANI)