Hearns faced significant financial struggles throughout his life, ultimately leading him into debt and even an encounter with the Internal Revenue Service (IRS). In 2010, Hearns found himself in a dire financial situation, owing a substantial amount to the IRS.
In order to repay his debts, Hearns made the difficult decision to auction off some of his most prized possessions. Among the items sold were his beloved 1957 Chevy, three boats, a motorcycle, and various memorabilia. Despite his successes and achievements in the boxing ring, Hearns’ financial difficulties serve as a stark reminder of the importance of proper financial management for individuals who have experienced considerable career success.
| Items Auctioned | Proceeds Generated |
|---|---|
| 1957 Chevy | $XX,XXX |
| Three Boats | $XX,XXX |
| Motorcycle | $X,XXX |
| Memorabilia | $X,XXX |
