1.
A few years ago, Nicolas Cage was one of the highest paid actors in Hollywood. However, he spent much of his fortune on wild purchases, such as a $150,000 octopus and a $276,000 dinosaur skull (which turned out to be stolen and ultimately ended up in the hands of the Mongolian government). ). At one point, he owned 15 of his homes around the world, including two castles in Europe. Ultimately, he ended up paying his $6.3 million to the IRS and faced foreclosure on multiple properties.
2.
About the episode breakfast club, T-Pain remembers that he was “very rich,” lost everything, and then became rich again. The singer once had $40 million in the bank, but her failed real estate investments and poor spending decisions, such as buying a Bugatti and returning it five months later for $400,000 less than she paid for it, left her with $40 million in the bank. She was left penniless. “I had to borrow money to buy my kids a Burger King,” he said.
3.
After becoming famous for Parent's trapLindsay Lohan rose to teen idol status with hit songs such as: Freaky Friday and mean girls. Her career then suffered as she dealt with years of legal troubles and personal issues. According to Refinery29, her net worth peaked at around $28 million, but plummeted during this difficult period in her life. Actors are now in a comeback era. She recently made a cameo appearance in a new movie. mean girls Starred in movies and Netflix romantic comedy Ireland's wishes.
Four.
With songs like “Un-Break My Heart,” Toni Braxton is one of the best-selling female musicians of all time. But she filed for bankruptcy twice, and told ABC News that part of the reason was the system in the music industry. Apparently, she only received a $1,972 royalty check on her first recording contract. However, she admitted that she has a serious obsession with the decoration of her home. “I had lost a bit of interest in household items because I love dishes and household items.'' She says that indulging in “girly things'' made her lose touch with reality. Told.
Five.
Heidi Montag and Spencer Pratt rose to stardom on MTV hill. At the height of his fame, he was earning $2 million a year, according to People magazine. But the couple also lavished $1 million on clothing for Heidi, another $1 million on Spencer's crystal collection, and an expensive dinner that included $3,000 worth of wine. “We were keeping up with the Joneses, but we were up against Tom Cruise and Katie Holmes,” Spencer said. “We should have stayed in the reality TV lane.”
6.
In 2009, Hailey Bieber's father, Stephen Baldwin, filed for bankruptcy. He reportedly has $2 million in debt between his house, credit card debt, and taxes, according to ABC News. In 2013, he pleaded guilty to failing to pay taxes for three consecutive years and agreed to pay $300,000 in back taxes.
7.
According to CNN, following the wild popularity of “U Can't Touch This,” Forbes estimated MC Hammer's income in 1990 at $33 million. However, he enjoyed a lavish lifestyle and built a custom mansion on 12.5 acres with two pools, a nine-car garage, four dishwashers, and a rehearsal hall. He filed for bankruptcy in 1996 with debts totaling at least $10 million.
8.
Despite being one of the most successful country artists of all time, Willie Nelson found himself in deep trouble with the Internal Revenue Service for not paying his taxes. In 1990, his property, including a golf course and recording studio, was seized in six states.The singer cheerfully signed a contract with the government and recorded an album. IRS Tapes: Who Will Buy My Memories? This is to pay off a $16 million debt. It didn't cover the full amount, but it hurt and I later paid it off in full.
9.
After gaining fame in def comedy jam and FridayChris Tucker made a lot of money with. rush hour franchise; he made $25 million from the third film alone. But in 2021, he was sued by the IRS for $9.6 million in unpaid tax debts from 2002, 2006, 2008 and 2010, and agreed to pay $3.6 million in a settlement agreement last year.
Ten.
In 1989, Kim Basinger purchased Braselton, Georgia, a town with a population of just 500 and one stoplight, for $20 million. She reportedly had plans to revitalize the town and build a movie studio there. However, the actor declined her film in which she had agreed to appear, and the studio sued her for breach of contract. Kim filed for bankruptcy and later reached a settlement after being ordered to pay more than $8 million.
11.
Without a doubt, 50 Cent was one of the biggest rappers of the 2000s. However, after losing a multi-million dollar lawsuit, he filed for bankruptcy in 2015 with $36 million in debt and less than $20 million in assets. In a 2020 interview with the Guardian, he said, “Businessmen… [bankruptcy] Quickly before you lose money. Because it means they have the ability to stay safe and invest again.” Power and lucrative contracts with television networks.
12.
Director Francis Ford Coppola probably godfather movies and apocalypse of hellHowever, he also directed the infamous 1982 film. One from the heart. He was so passionate about this project that his own production company financed it. However, he only made around $600,000 against a $26 million budget. This led to severe financial difficulties over the next ten years, and he filed for bankruptcy three times.
13.
And finally, Christy Carlson Romano was a Disney Channel star best known for: even stevens. But two years ago, she posted a candid YouTube video about her own financial journey. The actor recalled spending money on shopping trips, luxury cars, and psychics who “managed to get a lot of money.” she continued. “I had this money at my disposal. I was never told how much I was making. Money had no purpose for me. I didn't really know what it was. I I just knew I had it” and didn’t care. That's a problem. ”
Are there any other celebrities who are bad at managing money? Please share in the comments section below.
