Clark set up his own drag-racing business, which he lost along with a $2.4million California mansion.
His outrageous car collection also had to go.
According to Sports Illustrated, a $700,000 1990 Ferrari F-40 was the highlight of a fleet of 18, which also included a 1989 Ferrari Mondial, and 1992 Mercedes 500 SL Coupe - each worth over $100,000.
"This shows everybody what can happen to you if you don't manage your money well," Clark said at the time. "I did it to myself."