How Phil Mickelson lost over $40 million in just 4 years

US golfer Phil Mickelson is one of the biggest names in golf. He has 45 PGA Tour wins and six major tournament titles to his name. In 2021, he became the oldest player to ever win the PGA Championship at the age of 50 years, 11 months and seven days.

The three-time Masters win made headlines when he defected to the controversial LIV Golf. And scandals haven't left him alone since.

In May, Alan Shipnuck, who has been writing Mickelson's unauthorized biography titled 'Phil: The Rip-Roaring (and Unauthorized!) Bio', made some shocking revelations about Lefty's financial rollercoaster a couple of years back. According to him, Mickelson lost up to a whopping amount of $40 million in gambling in four years.

Apparently, Mickelson's finances were audited as part of an investigation into insider trading accusations against him in 2014. The gambling allegations against Phil Mickelson were revealed in an excerpt of the unauthorized biography in May.

Reportedly, a source who had access to the government forensic examination revealed Mickelson's gambling losses to Shipnuck.

"According to a source with direct access to the documents, Mickelson had gambling losses totaling more than $40 million in the four-year period (2010–14) that was scrutinized."

Alan Shipnuck further added some details of Mickelson's expenses in those years.

"In those prime earning years, his income was estimated to be just north of $40 million a year. That's an obscene amount of money, but once he paid his taxes (including the California tariffs he publicly railed against), he was left with, what, low-20s?"

He further talked about the additional expenses and the exorbitant birthday present that Mickelson supposedly bought.

"Then he had to cover his plane and mansion(s), plus his agent, caddie, pilots, chef, personal trainer, swing coaches and sundry others. Throw in all the other expenses of a big life — like an actual T. Rex skull for a birthday present — and that leaves, what, $10 million? Per the government audit, that's roughly how much Mickelson averaged in annual gambling losses."

While this is not the first time that Phil Mickelson has found himself in a soup because of Alan Shipnuck's shocking revelations, there is still more to the story of the gambling losses.

Did financial losses cause breakup between Phil Mickelson and long-time caddie, Jim 'Bones' Mackay?

Phil Mickelson and Jim 'Bones' Mackay at THE PLAYERS Championship - Round Two (Image via Jamie Squire/Getty Images)

Alan Shipnuck has been following Phil Mickelson's career for over 30 years and has even penned down an unauthorized biography on the golfer. While Shipnuck has made some shocking revelations about Lefty, one of them involved his split with long-time caddie Jim 'Bones' Mackay.

In 2017, Mickelson announced that he had parted ways with trusted caddie of 25 years, Jim 'Bones' Mackay. In the statement, he reiterated that the split was mutual and amicable.

He said:

"After 25 very rewarding and memorable years, Bones and I have mutually decided to end our player-caddie relationship. Our decision is not based on a single incident. We just feel it's the right time for a change."

He added that he would always remain grateful to Mackay, hinting that all was good in the hood as far as their personal equation was concerned.

"My relationship and history with Bones far exceeds golf. He has been one of the most important and special people in my life since the day we met and I will always be grateful for everything he has done for me."

However, according to Alan Shipnuck, the real reason behind the split was Mickelson's financial issues. Apparently, the duo parted ways following a huge amount of "overdue back pay".