Phil Mickelson's extraordinary gambling losses, lavish expenses detailed in new book excerpt

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Phil Mickelson’s gambling losses were highlighted Thursday in an excerpt from a forthcoming biography.

While Mickelson was being investigated for his alleged role in an insider trading scheme, federal auditors discovered his gambling losses totaled more than $40 million from 2010 to 2014, according to the book excerpt from Alan Shipnuck.

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Phil Mickelson tees off during Day 3 of the PIF Saudi International at Royal Greens Golf and Country Club Feb. 5, 2022, in Al Murooj, Saudi Arabia.  (Oisin Keniry/Getty Images)

The biographer wrote the auditors investigated "Lefty’s" finances over four years, from 2010 to 2014. The author cited a source with direct access to the documents. The golf star’s annual income in 2012 was estimated to be about $48 million. He netted about $1 million in one week from a Dean Foods stock deal.

The book also said Mickelson’s split with longtime caddie Jim Mackay in 2017 was largely about money and that Mickelson owed the caddie thousands of dollars in back pay.

Shipnuck also mentioned other wild expenses.

"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?" Shipnuck wrote, via The Firepit Collective. "Per the government audit, that’s roughly how much Mickelson averaged in annual gambling losses. (And we don’t know what we don’t know.) In other words, it’s quite possible he was barely breaking even, or maybe even in the red. And Mickelson’s income dropped considerably during his winless years from 2014 to ’17."

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