Julius Erving

If there is anything Julius Erving is famous for, it is helping legitimize the American Basketball Association before it merged with the National Basketball Association. He won three championships, and as a result, he was inducted into the Basketball Hall of Fame in 1993. Sports Illustrated also named him one of the 40 most significant athletes of all time.

While Dr. J was a tough competition in the court, it was not the case when it comes to making financial moves. He fulfilled his dreams of owning a golf course back in 2007. The money he put in with the Heritage Golf Club, $3 million, came with a mortgage in default, resulting in Erving losing $5 million. He never took a paycheck as the club’s owner, but still, it resulted in the red. For sure, Erving is now much more careful when investing his money.