Quote:
Originally Posted by Derek Sutton
On the filing, Kane listed liabilities at $26.8 million with assets of $10.2 million. While The Athletic notes that the sources of Kane's losses are not clear, the petition indicates that he has lost $1.5 million in gambling over the last year. The Cosmopolitan of Las Vegas also settled a lawsuit against Kane for unpaid gambling bills last year.
In his home, Kane lists seven dependents living with him, including a 6-month-old daughter, 27-year-old sister, mother, father, two uncles and his grandmother.
https://www.usatoday.com/story/sport...on/6636250002/
Though a contributing factor, gambling issues appear to be only part of the problem. A promise to take care of his family, or perhaps having a family full of leaches certainly is not helping. His past of ice behavior has not made him a sympathetic figure.
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Could be a big problem, perhaps. That gambling loss accounts for nearly 40% of his entire take-home salary over the past year. If that's a one-off issue, maybe not a big deal. If that's a regular thing, or even a better year than in some previous, that indicates a huge problem.
That aside, it's always kind of fascinating/horrifying to see ultra-wealthy individuals still live beyond their means or find themselves unable to live comfortably with their wealth. I imagine winning a million dollars and essentially being set for life through maintaining a job and investing wisely, being able to do almost any reasonable thing I'd want to do. Someone takes home millions of dollars every year after tax, and they go bankrupt. It's insane.