You are correct. Maybe he thought he could mimic a government business model.
It boggles my mind to try and understand how somebody that made 38 million during their career would ever even need to take out a loan for anything...
What people think they "need" tends to very easily expand to take up all of their income. This is especially true when a guy, like Becker, starts coming into real money at a young age. Becker won Wimbledon at 17. He lived a rich lifestyle while successful on the tennis circuit. He had a wife and kids who also expected such a lifestyle and expected him to pay for it after a divorce. Many divorce decrees for the wealthy saddle the breadwinner with obligations that while reasonable at the time become unsustainable once their income comes down to a more pedestrian level, especially if they spent money pretty much as fast as they earned it.
Well the Federal Government’s total debt is 31-ish trillion, but US household income is over 150 trillion. Also Americans age 70 and older had a total net worth of more than 35 trillion as of the middle of last year. So not exactly as dire a situation as Boris is facing.
