Eight years ago, I was hired by a small company. The founder had built the company from a one man shop to one that eventually employed about 600 people. He was a great boss and everyone loved him. Even though he was a multimillionare, he still lived in the same home he did was he was a retired Captain running his one-man company. Hell, most of his employees lived in better homes than he did. He was the living embodiment of "The Millionare Next Door", a very good book about wealth in America.

About 3 years ago, he developed some health problems and had to sell the company. Since he was the sole owner of a company that was doing about $60 million in business each year, he got quite a bit of money for the company (although it wasn't disclosed how much).

He was always a gambler. Once, he won a million dollars in a competition in Vegas. Rumor had it that whenever he wanted, he could make a call and a private jet would come pick him up. He was a high roller. Vegas loves high rollers.

He and his wife moved to Vegas and bought a multi-million dollar home. Over the next few years, things fell apart for him. His gambling problem was so bad that he lost $12 million in a single day. His marriage was ruined and he ended up in millions in debt. He may end up in jail.

Yes, it was his (and his wife's) money to lose. No, I wouldn't dream of telling him what he could do with his own money. It's just sad to see a good man brought so low by gambling addiction.