Athletes who struck it rich or went broke after their playing careers

Highly influenced by former Los Angeles Lakers owner Dr. Jerry Buss, Magic Johnson set his sights on conquering the business world after he was finally done with professional basketball in 1996. As of today, Magic Johnson Enterprises, which consists of Magic Johnson Theaters, several credit card ventures and a partnership with Starbucks, is reportedly worth $1 billion. And as if that weren’t enough, the Hall of Fame point guard is also a minority owner of the Los Angeles Dodgers and president of operations of the Los Angeles Lakers.

Few human beings, let alone professional athletes, have experienced the highs and lows that Mike Tyson has. The former heavyweight champion of the world, Tyson earned more than $400 million over the course of his boxing career, but through reckless spending, poor investments and trusting the wrong people, he lost it all. Tyson filed for bankruptcy in 2003 but has slowly been rebuilding his brand and life ever since.

One of the greatest heavyweight boxers of all time, George Foreman is perhaps now best known for his famous “George Foreman Grills.” Since the cooking accessory was introduced in 1994, over 100 million units have been sold worldwide, with Foreman earning an estimated $200 million for his investment in the product.

Former NBA star Antoine Walker made $108 million during his playing days but was forced to file for bankruptcy in 2010. Walker lost his vast fortune through spending, gambling, an ugly divorce and legal troubles.

Since retiring from football in 1999, Denver Broncos legend John Elway has been a successful part of multiple business ventures. The Hall of Fame quarterback opened several popular steakhouse restaurants and sold several car dealerships he owned to AutoNation for $82.5 million. Elway is currently the executive vice president of football operations for his beloved Broncos.

Considered by some to be the greatest soccer player of all time, Diego Maradona has never been a stranger to controversy. In 2009, it was revealed he owed the Italian government over 37 million euros in back taxes. To date, Maradona has only paid off 42,000 euros of this debt and is thought to be on the brink financially.

Although not a household name in the United States, Tim Horton’s restaurants are a national staple in Canada. Opened by former Toronto Maple Leafs and Buffalo Sabres defenseman Tim Horton, the company now has over 4,300 franchises across North America. Although Horton died in 1974, his business partner Bob Joyce reaped the rewards of his success, selling the brand to Burger King in 2014 for $11.4 billion, as Horton's family sold Tim's shares to Joyce for $1 million after Horton's death.

Although he made about $350 million as a professional boxer, former heavyweight champion Evander Holyfield had his mansion foreclosed on in Atlanta in 2008. In 2012, it was revealed that Holyfield had somehow squandered his fortune and was dead broke.

With one of the most powerful brands ever, Michael Jordan was destined for business success after his time in the NBA came to an end in 2003. Not only are his “Air Jordan” shoes some of the most iconic sneakers ever, but M.J. is also the majority owner of the Charlotte Hornets. Recently, Forbes Magazine estimated Jordan’s net worth at over $1.65 billion, making him the richest NBA player of all time and third wealthiest African-American on the planet.

Perhaps the greatest defensive player in NFL history, the business world has not been kind to former New York Giants linebacker Lawrence Taylor. After his retirement, Taylor made a series of poor investments and was even defrauded in a penny stock scheme. In 1997, he pleaded guilty to tax evasion and was sentenced to three months of house arrest, five years of probation and 500 hours of community service.

Generally considered the greatest hockey player of all time, Wayne Gretzky has also had no shortage of success in the business world. Gretzky has owned and sold multiple sports franchises for profit, is a partner in a major sports equipment company and also had his own line of hockey video games. His current net worth is an estimated $200 million.

Well after his playing career was over, former Phillies and Mets outfielder Lenny Dykstra founded a high-end jet charter company and magazine marketed to professional athletes called the "Players Club." The company was a complete flop, and Dykstra was forced to file for bankruptcy in 2009. Later it was revealed that Dykstra also committed fraud, and the former MLB All-Star was given a three-year prison sentence in 2012.

A two-time Super Bowl champion with the Dallas Cowboys, upon his retirement from pro football in 1980, Roger Staubach became heavily involved in commercial real estate. After years of diligent work in the industry, Staubach was able to sell his real estate company in 2008 for $613 million. Not too shabby of a payday.

American sprinter Marion Jones went from Olympic gold medalist to being embedded in a doping scandal to being dead broke (despite earning millions of dollars in endorsement deals) to being implicated in a check-counterfeiting scheme that led to criminal charges. Jones, who was stripped of her five Olympic medal wins at the 2000 Games in Sydney, was sentenced to six months in prison in 2008.

As if bringing in over $700 million from pay-per-view boxing matches wasn’t enough, when Oscar De La Hoya ended his career in the squared circle in 2009, he became the full-time chairman and CEO of Golden Boy Promotions, one of the most successful boxing promotions on the planet. De La Hoya is also a minority owner of the Houston Dynamo in MLS.

Bill Buckner’s run of bad luck didn’t end with his infamous blunder in Game 6 of the 1986 World Series. After his playing career ended, the former All-Star first baseman went broke from investing in a car dealership that closed just two years after it opened.

The first man to land a 900 on a skateboard in competition, Tony Hawk’s name is also attached to one of most successful video game franchises ever. To date, there have been almost 20 different Tony Hawk’s Pro Skater video games for pretty much every gaming console under the sun. Hawk also launched the successful YouTube channel “RIDE” in 2012.

Despite gracing the cover of "Madden NFL 08," former Titans quarterback Vince Young squandered the $34 million he made as a pro football player (plus another $30 million from endorsements) in just a few short years. Young did so by spending the majority of his earnings and having a falling out with a financial planner, whom he alleged misappropriated $5.5 million of his money. The former BCS National Championship winner filed for bankruptcy in 2014.

One of the most beloved baseball players ever to play in the majors, Cal Ripken Jr. has kept busy since his retirement from Major League Baseball in 2001. Along with owning several minor league baseball teams, Ripken is on the board of directors of ZeniMax Media and has opened a series of sports complexes. Ripken’s net worth is an estimated $75 million.

One of the NFL’s first truly great quarterbacks, Colts legend Johnny Unitas didn’t experience the type of success he would have liked to in the business world. Unitas had a number of business failures, which included a series of bowling alleys that never took off and a print-circuit-board company that flopped. The three-time NFL MVP was forced to file for bankruptcy in 1991.

After his retirement from professional soccer in 2013, David Beckham made a quick transition to the business world. Along with having a slew of endorsement deals, the former Manchester United midfielder has his own line of clothing, fragrances and video games. Beckham, as part of an ownership group, also has a deal in place with Major League Soccer to start an expansion franchise in Miami in 2020.

A two-time NBA champion with the Detroit Pistons, Vinnie Johnson founded an auto supply company in 1995. “The Microwave” is currently the chairman of Piston Automotive, which employs approximately 200 people in Detroit area.