Yesterday’s Atlanta Journal-Constitution newspaper led with a very interesting front page story about ex-NFL star Michael Vick. The infamous Atlanta Falcon quarterback had some very interesting spending habits especially right before reporting to prison last November. I thought that some of these were so interesting that I just had to share them with you.
According to the AJC, between 2001 and 2007, Michael Vick bought….
- A $918,000 home in gated Atlanta community
- A $3.8 million home in the same neighborhood
- Four homes in Virginia and building a 5th
- Six Paso Fino horses for $75,000 each
- A Miami Beach condo
- Two Land Rovers
- A Bentley
- An Infiniti SUV and car
- Two Ford pickup trucks to go with his Chevy and Dodge ones
- $450,000 in jewelry for himself
- A GMC Yukon, an Escalade, & a Lincoln Navigator for other people
- An $85,000 fish pond & over $48,000 for landscaping
- And, a $99,000 Mercedes that he bought the morning before he reported to jail
- Vick also invested in two farms (one in Virginia and another in Georgia)
The AJC article said that Vick, “picked out an gray 2008 Mercedes-Benz S550 sedan and using his bank debt card, paid in full: $99,589.71. Then he drove to Richmond, surrendered to federal marshals and went to jail.”
Experts estimate that Michael Vick has approximately $16 million in assets to go along with his $20.4 million of debt. The suspended quarterback recently filed for bankruptcy protection in Virginia. Vick also owes the federal government $1.2 million in back taxes which are not bankruptable.
This reminds me of my second favorite story about celebrity spending. CNN reported last year that Brittney Spears “spends lavishly on clothes and entertainment, and doesn’t save or invest any of her roughly $737,000 monthly income.”
Spears reportedly spends…
- $49,267 in mortgage for two houses
- $16,000 for clothes
- $102,000 on entertainment, gifts and vacation
- $4,758 per month dining out
- $500 a month in charitable contributions
- And zero on education, savings, and investments!!
- Infamous Investment Scams and How to Protect Yourself From Them
- Tipping Your Mailman For The Holidays and Christmas Is Crazy
- Five Simple But Crazy Ways To Save Money That Work