The former Brazil international made the revelation while speaking at the Portugal Football Summit this week, where he reflected on mistakes he made in managing his finances and the challenges that followed.
According to Carlos, problems involving agents and a family member left him with almost nothing despite earning significant amounts during his playing career.
“I had problems with people who left me with zero money. Because of agents and family issues, I lost 99 per cent of everything I had earned in football,” he said, according to Globo.
Carlos admitted that he made financial mistakes and used his experience to warn younger footballers about the importance of protecting their earnings.
“I made mistakes, and that’s why I ask younger players not to make the same mistakes,” he said.
Recalling how quickly his financial situation changed, the former defender said he once went to bed believing everything was fine, only to receive documents the following day relating to matters he knew nothing about.
“On a Thursday, I went to bed at midnight, and on Friday, I received a bunch of papers I didn’t even know existed. That’s when I lost my entire history,” he added.
Carlos, whose fortune was previously estimated at around £133 million, also went through a divorce from his wife of 15 years, Mariana Luccon, in 2025. The separation was reportedly expected to involve a complicated financial settlement.
He later dismissed reports that he had been living at Real Madrid’s training ground following the divorce, explaining that he was staying at a private residence with support from his family while his lawyers handled the legal matters.
The former footballer said he also relied on a friend as he worked to recover from his financial losses.
Reflecting on his preparation for life after football, Carlos said he had always understood the importance of building a career beyond playing.
“I always thought about my post-career. It means building a legacy as a player and using your image,” he said.
“When I decided to stop playing football, I already had a sports director’s license and was working with many brands.”
Carlos retired from professional football in 2012 and now works as a Real Madrid ambassador.
During his playing career, he featured for several clubs, most notably Real Madrid and Anzhi Makhachkala, where he reportedly earned up to £85,000 per week.
He also enjoyed an illustrious international career with Brazil, helping the country win the 2002 FIFA World Cup.
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