Phil Mickelson recorded $40 million in gambling losses over four years

[Demovictory9]

Phil Mickelson's love of gambling is one of his defining characteristics. Now, a new book is reporting just how much that love cost him between 2010 and 2014: $40 million.

An excerpt of the book "Phil: The Rip-Roaring (and Unauthorized!) Biography of Golf’s Most Colorful Superstar," due to be published May 17, breaks down in thorough, agonizing detail just how much money Mickelson lost over that period.

Mickelson's losses were recorded in documents compiled by government auditors doing a forensic analysis of his finances in connection with an insider trading case. Billy Walters, a professional gambler, was accused of insider trading; Mickelson, an associate of Walters', was not charged, but paid back roughly $1 million in gains earned via Walters' tips. Walters, for his part, was sentenced to five years in prison and fined $10 million.

Shipnuck attempted some broad-strokes calculations of how $40 million in losses could have affected Mickelson.

“In those prime earning years, his income was estimated to be just north of $40 million a year,” Shipnuck writes. “That’s an obscene amount of money, but once he paid his taxes (including the California tariffs he publicly railed against), he was left with, what, low-20s? Then he had to cover his plane and mansion(s), plus his agent, caddie, pilots, chef, personal trainer, swing coaches and sundry others.

“Throw in all the other expenses of a big life — like an actual T-Rex skull for a birthday present — and that leaves, what, $10 million? Per the government audit, that’s roughly how much Mickelson averaged in annual gambling losses. (And we don’t know what we don’t know.) In other words, it’s quite possible he was barely breaking even, or maybe even in the red. And Mickelson’s income dropped considerably during his winless years from 2014 to ’17.”

https://sports.yahoo.com/phil-mickelson-gambling-losses-saudi-arabia-000228275.html

Trump pardoned a gambler linked to Mickelson

https://sports.yahoo.com/trump-commutes-sentence-of-vegas-gambler-connected-to-phil-mickelson-161457115.html

[OAITW r.2.0]

1. Who owns him?

[brush]

2. Claiming gambling loses seems a good way to avoid taxes.

[Prof. Toru Tanaka]

3. So here he was crying and whining about taxes when

he was throwing away millions on gambling.

There was a time when I liked Mickelson while he was chasing his first major win and then he was supportive of his wife when she underwent cancer treatments. But in recent years, he has revealed himself to be another entitled douchebag with his whining about taxes when he makes millions in endorsements and by PLAYING A GAME.

[empedocles]

4. ''Michael Jordan's cursed year: He's lost 500 million dollars during COVID-19 pandemic Huge losses

since 1920,''

https://www.marca.com/en/more-sports/2021/03/24/605b6d45268e3ea21b8b458c.html


'Michael Jordan testified in Federal court today that a $57,000 cashier's check he gave to a suspected drug dealer covered gambling losses from a weekend of golf and poker at an exclusive South Carolina resort. Jordan, the star guard for the Chicago Bulls, testified briefly during the trial of James (Slim) Bouler.

Bulls' Jordan Says Check Covered Gambling Losses - The New ...
www.nytimes.com/1992/10/23/sports/bulls-jordan-says-check-covered-gambling-losses.html'