We look at celebrities and think that they have a very easy life. They make millions in a year and don’t really have to worry. Even if they do one movie or release one album that becomes a hit they are set for life. They get a ton of money for doing it and if it is a hit they get even more money.
Celebs are usually paid triple of what an average person would make in a month and if it is successful they get millions. So, it’s safe to say there is not that high a chance of them going broke but the sad part is that is false. There are many celebrities who have cried ‘bankruptcy’.
The legend that left us way too soon was heavily in debt during the final years of his life. Michael was a household name for years at the height of his stardom but that did not mean anything before he passed away. Reports indicate that the ‘King of Pop’ was in debt to the amount of around $400 million and his prized Neverland Ranch home was very close to foreclosure.
At the height of his career, Mike was one of the world’s most famous boxing legends. He was impressive in the ring and lived a lavish lifestyle. But all this soon can to an end as his divorce and IRS payments bled his account dry. The man who used to make over $400 million a year was now broke but afloat.
Curtis James Jackson III was on top of the rap charts in 2003. With the aid of Eminem who discovered him and gave him a chance to record an album, he soon became one of the world’s best-selling rappers and rose to prominence with East Coast hip hop group G-Unit. Unfortunately, a life of luxury and misguided spending does not go well for savings. In 2015, the rapper filed for Chapter 11 bankruptcy.
Stephen Andrew Baldwin is the 4th of the “Baldwin brothers” that include actors Alec, Daniel, and William. He was in many hit movies such as “Born on the Fourth of July”, “The Flintstones in Viva Rock Vegas”, “The Usual Suspects”. Throughout his career, he managed to make a good name for himself but in March 2013 he filed for bankruptcy.
Nicolas Cage is one of those Hollywood stories where the actor went down one wrong road and saw his entire life go upside down. The actor has an impressive list of movies but also had a luxurious lifestyle. He was forced to pay the IRS over $6 million after he spent way too much on houses, cars and strange artifacts.
The front man for ‘Sly and the Family Stone’ was once one of the most famous musicians around in the early 60s to 70s. He was a huge part of the popularization of soul, funk, rock, and psychedelia. Unfortunately for the Rock and Roll Hall of Famer, a life of drug abuse and erratic behavior not only led him to quit the band but also brought about financial troubles.
Appearing in over 150 films one might think Gary Busey is set for life at least financially but unfortunately, the actor had to file for bankruptcy back in 2012. With a career of almost 50 years, this seems impossible as the actor has never been part of any controversy. But unfortunately this did happen but recent reports indicate that the actor is trying his best to stay afloat now.
Everyone knows the sad story of the prominent child star that grew up to be Lindsay Lohan. She had so much potential in her early years which was lost due to multiple arrests and involvement with drugs. She tried her hand at modeling and music but her drug dependency took its toll.
The widow of rock legend Kurt Cobain has had her share of controversies. From being blamed as the reason why Cobain killed himself to having a toxic relationship with her only daughter, Courtney has seen it all. She had her own music career and all of Cobain’s inheritance but her non-stop party lifestyle blew it all.
She had one of the most successful models turned actor careers in Hollywood but her break came when she played a Bond girl ‘Domino Petachi’ in 1983’s “Never Say Never Again”. She even won accolades for her acting but she soon had to file for bankruptcy. This was due to family troubles and when she left midway filming the controversial film “Boxing Helena”.
Before Justin Bieber, there was Aaron Carter. He released his debut album when he was just 9 years old. It went on to sell a million copies worldwide. He soon became a household name for the pre-teen and teenage demographic. Unfortunately, his fame did not last and his later albums were financial failures which saw him $2-million in debt.
She gained national fame when she appeared as ‘Lisa’, on the award-winning ABC comedy series “Home Improvement” but gained international fame as ‘C. J. Parker’ in the action-drama television show “Baywatch”. After appearing on Playboy magazine’s cover you’d think she would be financially stable but after a few failed marriages and movies that flopped, Pamela found herself in $350,000 in debt.
You might be wondering why Lady Gaga would be on this list as of 2019 she is one of music’s biggest names and also an Oscar winner. But there was a point in her career during the infamous Monster Ball tour where she found herself in £1.8 million worth of debt. Thankfully this did not derail the megastar.
Charlie Sheen is like a book that keeps getting weirder the longer you read it. The actor who was once the highest-paid actor on television and earned US$1.8 million per episode of “Two and a Half Men” fell on hard times due to his alcohol and drug abuse and marital problems. He was fired from the hit show in 2011 and the actor soon saw his income drop from $613,000 a month to $87,000 a month.
You’d think an actor of his caliber with one of the most financial movie series under his belt would not fall on hard times but unfortunately, Depp did. His lavish lifestyle coupled with his recent divorce case from actress Amber Heard has proven to be a very difficult situation for the actor. Along with the financial failures of his recent work, the actor is really on hard times.