7. Coming Down With ‘Entrepreneur Syndrome’
Many financially successful people go broke trying to get richer. They start businesses they don’t need and don’t have the experience to run. Washington Post columnist Michelle Singletary called it “entrepreneur syndrome.”
In an article, she cited NFL player Warren Sapp as an example of this. His bankruptcy filing, submitted in March 2012, listed $6.5 million in assets and $6.7 million in liabilities. His lawyer told the Tampa Bay Times that Sapp filed because of his business debts.
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