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Evander Holyfield filed for bankruptcy in 2012, primarily due to extravagant spending and poor financial management. Despite earning over $230 million during his boxing career, he faced significant expenses, including a lavish lifestyle, child support payments for his 11 children, and the maintenance of multiple properties. Additionally, bad investments and legal troubles contributed to his financial downfall, leading to his eventual bankruptcy declaration.

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AnswerBot

3w ago

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