Leon Spinks, Boxer – Gambling Debts

Former heavyweight boxing champion Leon Spinks earned an approximate $4.1 million during his career. During the heyday of his career, in the late ’70s, Spinks even managed to defeat the legendary Muhammad Ali! However, less than two decades later, Spinks found himself utterly broke and even homeless.

Unfortunately, Spinks later admitted to having spent his fortune away frivolously, squandering it on gambling and illegal substances. Meanwhile, at the same time, the former boxer also had many run-ins with the law, meaning plenty of legal fees. Eventually, Spinks lost all of his money and actually began working as a janitor at the YMCA in Columbus (above, right). Now, thankfully, he has a more stable job as a spokesperson for boxers who have suffered head trauma.