Hulk Hogan recovering from edge of bankruptcy

Hulk Hogan is fighting his way back from the brink of bankruptcy after losing 'hundreds of millions of dollars'.

The fighter has been struggling with financial problems for some time after maintaining a luxury lifestyle with his two children Brooke and Nick and his now ex-wife Linda Bollea.

In a pre-recorded interview on US breakfast show Good Morning America, whcih aired on Thursday, he said: ""(I lost) hundreds of millions. There were houses being bought, cars being bought, vacations for family members... There were eight, nine, 10, 11 of them moving into our house."

He is now living a more modest lifestyle with new wife Jennifer McDaniel, who he married in December and has offloaded excess material goods.

Hogan is slowly recovering from his money troubles with new projects including his new reality TV show, Hulk Hogan's Micro Championship Wrestling and claims his personal difficulties has shown him money cannot buy happiness.

He adds: "They (financial troubles) are getting better. I'm living in a rental house. I'm not living in abundance. But I'm happy now. (Money) helps get through the day, it helps make things easier, but it is nothing to do with being happy."

Hohan and Linda split in 2007 and settled their messy divorce in 2009 after more than 20 years of marriage.