In 1988 (almost 30years ago), boxer Mike Tyson engaged Donald Trump to be his "Personal Financial Adviser." Which Donald Trump? Well, President of the United States, Donald Trump. Trump who was a successful businessman then was on the Tyson payroll and life was good.
Today, Tyson is broke by reason of his excessive and irresponsible spending and Trump is the most powerful man in the world by reason of his position as the President of the United States.
I Feel Blessed!
In 1988, Trump was said to have paid $11miilion to organize the Tyson- Spinks fight which sold out in record time. Trump was said to have earned an upward of $15milion through his Trump Plaza casino.
Their business arrangement didn't last long as there were allegations that Trump had an affair with Tyson's wife, Robin Givens and also Tyson'r constant legal battles that ranged from assault to rape which eventually saw him going to prison in 1992.
Iron Mike Tyson as he was popularly referred to, was known for his extravagant lifestyle which always graced the covers of the major celebrity magazines. As you can see, things change and when they change, the ripple effect goes long distances.
My question now is, "if Trump was a good financial manager, would Tyson had gone broke? Or was it all Tyson's fault because he didn't listen to his financial manager?"
Do the best you can to stay ahead of the curve and avoid the lifestyle of unrewarding extravagances. Investing in yourself is the first step towards getting into a life of greatness. The smart ones will always be smart and the foolish ones will be what they are, "not smart". There is no amount of money that can make you smart. You have to keep making smart choices in every step of the way. The guy who was your assistant yesterday may not remain your assistant tomorrow.
Do not make the mistake of thinking everything is permanent, nothing is. Change is one sure constant aspect of life and it is only the prepared that can take it when it presents itself. The rich and wealthy are not magical, they just know how well to position themselves for the coming future because they think like the rich. Money doesn't always guarantee wealth.
