Wife's ultra toxic friend

Time Spent- 22m
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My wife has a toxic friend who can never seem to stay out of the picture. He complains to her about his misfortunes (which he causes himself) every day. He was there for her before I came along as support when things weren't great in her life so she holds onto that. The dude takes way more than he gives though. He's been through a lot and is ultimately broken, yet won't get professional help for his mental illness. He has been the cause of a lot of issues between us but he's still important enough for her to want to keep around no matter how much it bothers me. I am not jealous of the guy at all so I don't want this to come off that way. It's just that he's so extremely toxic and there's never been any solution that lasts. Shit happens and he goes away for awhile but it's always the same. He always fucking comes back. He's a manipulator and a user, which she acknowledges yet she still lets him in every time. I've tried being friendly with him. Sent him money for pet food when he was struggling, bought things from him to help him and his family make ends meet when I technically couldn't afford to do it, opened up to him about very personal things in life that we could relate on and yet nothing I've done has made a difference. He will get pissed at me for the dumbest things and then vent to my wife about it instead of talking TO me. He doesn't keep friends very well and uses her because he knows she'll keep coming back. If anyone has any advice or has been through something like this before, I'd like to hear how you handled it.