When he was in his 20s, Michael "Rooster" McConaughey nearly destroyed the business empire he built.
"The biggest failure I had — monetarily wise, business wise — was I went bankrupt," said McConaughey, a self-made millionaire who co-stars on CNBC's reality pitch show "West Texas Investors Club."
After striking success in the oil and lead pipe business, McConaughey had nearly spent his whole bundle.
"My biggest problem was I could make money, but I couldn't hold on to it," he said. "I was going around with all the big shots. I thought, hell, I'll never see a poor day."
At his lowest point, he couldn't purchase a phone for his son at Radio Shack.