When you think of celebrities and Hollywood, you automatically think of affluent, extravagant lifestyles. Mansions, sports cars, expensive clothing, and jewelry seemed to be the norm for these stars until everything came crashing down. But when you’re no longer rich and famous, your lifestyle has to change, so what are these stars to do? Keep reading to find out all about the celebrities who, one way or another, lost their money and can no longer afford to lead a glamorous life.
Pamela Anderson may be known as a blonde bombshell who people couldn’t get enough of on the hit TV show Baywatch, but today, she doesn’t frequent the limelight. Although she was once so prosperous, times have really changed for her. You would assume she has plenty of money stored away from her glory days, but the former Playboy playmate owes hundreds of thousands of dollars in taxes. Not so glamorous right?
According to the state authorities, Pam is in serious tax trouble and even has a lien on her home. This surely isn’t where people thought the star would end up.
The infamous widow of Kurt Cobain and lead singer of the grunge band Hole, Courtney Love is a name everyone knows. Allegedly she was left all of Kurt Cobain’s money, which would keep her afloat for the rest of her life. But that’s not what happened here. The former rocker has owed thousands of dollars in taxes and even admitted she spent over 30 million just in lawsuits. She doesn’t sound like the best judge of character regarding finances.
At one point, she admitted she thought she would be homeless and have no food to eat. Currently, Courtney Love has no fancy dinners and extravagant mansions; she has to lead a normal life.
Harry Potter is one of the most famous movie franchises ever that brought many favorite characters. One is none other than Ron Weasley, played by Rupert Grint, who nowadays lives a very low-key life. He became so famous you’d think he’d be overflowing in cash; although this ginger is talented at acting, his financial choices are not so gifted. He got into a tricky situation that left him owing over a million dollars in taxes.
No amount of magic can fix that kind of problem. With such colossal tax debt, he has to lead a much more careful life.
Mike “The Situation” Sorrentino
Mike Sorrentino joined the Jersey Shore cast and entered a new world that seemed like something from a dream. He became a reality star overnight and made tons of money with the show’s success. He was new to this entertainment industry, full of fame and riches, and clearly didn’t know how to handle the situation. Mike thought he could get away with not paying his taxes, but the IRS caught him, and what they did next would change his lifestyle.
Mike had to serve almost a year in prison, pay hefty fines, do community service, and take a hit to his ego. But most importantly, it completely depleted him of his funds and reputation.
Kate Gosselin surely cashed in when she broadcasted her journey to the world of being pregnant and raising a family of sextuplets and twins on the reality TV show Jon & Kate Plus 8. Of course, she also wrote a few books that added to her wealth, but despite it all, her lavish life was over when she and Jon divorced. Allegedly their divorce squeezed them out of all their money.
Now, rather than star in her own reality show, making around $75,000 an episode, she works as a nurse. This is quite an adjustment and must’ve taken some time to get used to.
Nicolas Cage is a name almost everyone knows; he became wildly successful for his movies like National Treasure and Ghost Rider. But what is one to do when they have so much money they can buy anything they want? Of course, do exactly that, buy anything and everything. Over time, he purchased 15 residences, a castle, and a private island and even blew 150 million dollars on a dinosaur skull.
On top of all these ridiculous purchases, the IRS said he owed over $14 million in taxes. Nicolas will likely be flying commercial for the rest of his life.
Lindsay Lohan was a child actor turned Hollywood icon of the 2000s. She was on top of the world until she got involved with substance abuse. From there, she started losing roles, and her reputation was tarnished. Despite the lack of work, her spending continued from expensive bags and jewelry to private limousines. The former actress couldn’t keep up with her habits and owed almost a hundred thousand dollars in taxes.
Do you see the trend here? Nowadays, she lives a low-key and more normal life with her husband in Dubai. Who could’ve imagined that’s where life would take her?
If there’s one musician who dominates the R&B world, it’s the singer Toni Braxton. Her soulful music has been heard worldwide, and there’s no doubt she will be riding out that fame card for a long time. So how did she manage to end up on this list? Despite the success, she filed for bankruptcy not once but twice. Apparently, all because she owed outstanding debts ranging from $10 to $50 million.
Toni shared that despite selling 40 million records, her royalties were less than 2,000 dollars. On top of canceling many shows because of health problems, she owed more than she was making.
Amanda Bynes reached the pinnacle of success in the 90s and 2000s with her popular show and appearances in movies like Easy A and She’s The Man. Compared to her peers, she made more money than most teens and twenty-somethings could ever imagine. But the lifestyle of fame and fortune didn’t last too long. Amanda spent all her money on shopping, drugs, rehab, and lawyers, depleting herself of millions.
Now she lives out of the public eye and has started attending cosmetology school to become a manicurist. It’s definitely not the ending most people envisioned for her.
Kim Basinger began her Hollywood journey at age 16 and became an Oscar-winning icon. But it hasn’t been an easy ride as her finances have suffered. She invested $20 million in a project to build a massive movie studio, but it failed. She was also sued for dropping out of the movie Boxing Helena, which ultimately sent her over the edge into bankruptcy. Though she looks successful, she has been rather unlucky with her finances.
Kim can definitely not afford to make any more mistakes and has to be very careful, so she doesn’t send herself into debt once again.
Recognized for his toothy grin in Hollywood, Gary Busey rocked the screens with his performances in The Buddy Holly Story and A Star is Born. With appearances in hundreds of movies, his fortune accumulated. However, he got in a horrible motorcycle accident that left him with medical bills galore. His bank account shrunk until, before he knew it, he was in so much debt he had to declare bankruptcy.
Gary was offered no acting roles and had to spend a long time recovering from his accident, ultimately leading to the downfall of his career and finances.
Bow Wow was such a famous rapper that it’s hard to imagine he’s really broke. The same guy who once bragged about dropping thousands of dollars at a strip club is claiming he’s broke and can’t afford child support payments. Apparently, he has to sacrifice his lavish lifestyle if he wants to not be in debt to the IRS and his baby’s mom. It’s time for some significant lifestyle adjustments for this former rapper.
It may be hard to go back to normalcy after getting a taste of what it’s like to live as a wealthy, famous person, but for Bow Wow’s sake, he has to.
The Real Housewives of Orange County is the reality show that gives you a glimpse into the lives of the uber-rich. Despite Alexis Bellino being on this show, it wasn’t entirely her reality. She and her husband ran into many financial problems and could no longer afford their multi-million dollar mansion. They filed for bankruptcy and divorced, which is far from the affluent and glamorous lifestyle they portrayed on the show.
Alexis Bellino could stick to the fancy restaurants and Hollywood lifestyle, but that would only lead to more debt. Now she resorts to fast food and more casual outings.
Once a professional boxer, Mike Tyson is known for many crazy things. Yes, he did bite a piece of someone’s ear off in a fight and was arrested dozens of times. Although he was worth around $400 million at one point, his life was not all sunshine and rainbows. His spending was outrageous, buying exotic animals and dozens of houses he forgot about but reportedly all while being in debt anywhere from $30-60 million.
After becoming one of the world’s most famous boxers and a recognized sports personality, his massive wealth quickly became nothing, and he declared bankruptcy.
Tori Spelling is the daughter of the super-wealthy Aaron Spelling, who was reportedly almost a billion dollars, but when he died, she was left with less than a million. Besides that, she experienced massive success acting on the iconic show Beverly Hills, 90210. However, after all of this, she still reports she is broke. So how could this be? Well, her spending habits don’t match what’s in her bank account.
Apparently, she owed thousands of dollars in debt and taxes but refused to stop living lavishly. She admitted she has expensive taste, and downgrading homes hasn’t stopped her habits.
Julia Stiles was once a mainstream Hollywood actress, iconic for her role in 10 Things I Hate About You. But it seems like she disappeared from the spotlight, so where has she gone? After that role, most of the movies she joined lost money or barely broke even. She couldn’t build a significant social media presence, and people just weren’t interested in casting her anymore. So much for being a part of the high life.
Hey, she could always try to make a comeback? It just takes one successful movie role, and you’re right back up there with a huge paycheck and pending shopping spree!
Floyd Mayweather Jr.
It’s incredibly difficult to become a professional athlete and garner enough success to live lavishly for the rest of your life. Few people experience it, but the former professional boxer Floyd Mayweather Jr. was considered by many to be the best boxer in the world. It’s reported that he should have earned over $400 million throughout his career but refuses to pay his taxes, leaving him with over $22 million owed in taxes.
Even though he seems to live a lavish lifestyle on social media, he has racked up unimaginable debts. His social media life is a lot different than his reality.
Brendan Fraser, a brief icon of the 90s and 2000s, graced the big screen in The Mummy trilogy and George of the Jungle. He was making loads of money when he suddenly had an encounter that left him traumatized. Unfortunately, resulting in him retreating from acting and getting divorced shortly after. Without the big-time movie gigs, he couldn’t afford to pay the court-ordered $1 million in child support and alimony.
With no work and all his money depleted, Brendan surely can’t afford to live like a big Hollywood star. However, he’s set to make a comeback this year, so who knows, maybe he’s on his way to the top.
Abby Lee Miller
Abby Lee Miller was a dance instructor and choreographer featured on the reality TV series Dance Moms; once so successful, her life these days looks grim. She filed for bankruptcy before the show started, but once it did, the money started rolling in. So she attempted to stash away around $1 million, but the IRS became suspicious. She was investigated and caught, resulting in her being sentenced to one year in federal prison.
She has attempted to regain her old lifestyle but is followed by her foolish financial choices and a bad reputation. Staying lowkey is most likely the best option for her.
It turns out 50 Cent only has about 50 cents to his name. Okay, it might be a bit more than that, but the bigshot rapper isn’t all he claims to be. Although he should have been loaded with millions, he declared bankruptcy, owing over $20 million in debts due to unpaid taxes, failed business ventures, and lawsuits. His empire surely wasn’t worth millions anymore, making his rap name more fitting than ever.
Though he claims not to be rich, his social media sure appears like he’s living way above his means.
The successful country singer Willie Nelson may be approaching his nineties, but clearly, there is no age for avoiding your taxes. He’s had a bad habit of not paying any of his taxes when the IRS seized his assets because he owed around $16 million! In a strange deal, only a celebrity would get, they made a deal that he would release an album dedicated to paying off his taxes.
What a bizarre twist of events that only a star accustomed to the privileged life would be offered. Today, he still makes music but isn’t as flashy as in his old days.
80s icon Cyndi Lauper brought the world hits like Girls Just Want to Have Fun and Time After Time. Though she also just wanted to have fun, her life turned somber. Cyndi was a part of a failing band named Blue Angel, and when the group split, their manager sued them for almost $100,000, an amount they did not have. They filed for bankruptcy, and Cyndi moved on with her life, starting a solo career.
Lucky for her, the bankruptcy didn’t define her career. She still managed to become successful while solo and knows they key is to live a laid-back life.
Lauryn Hill is a pioneer of neo-soul music, with fourteen Grammy awards and some jail time. Despite the mainstream success, the star refused to pay her taxes and reportedly owed about 1 million dollars. And this isn’t her only debt; she had outstanding credit card charges and bills, revealing a not-so-extravagant life after all. Although she was sentenced to prison, she managed to pay back some debts, somewhat lessening her financial troubles.
She mainly stays out of the spotlight now and lives a much more humble life. After all that financial chaos, is there any other choice?
Lisa Marie Presley
The daughter and heir to the “King of Rock and Roll” or renowned singer Elvis Presley, Lisa Marie Presley has quite the reputation to live up to. Apparently, she inherited over $100 million but still accumulated an insane amount of debt. Despite having access to her superstar father’s fortune, she has millions of unpaid credit card and tax bills as well as legal fees, which have accumulated to over $16 million.
Now she dedicates most of her time and attention to her family and children while keeping a very low profile.
The former actress Suzanne Somers is most known for her role in Three’s Company, but it was short-lived. She demanded a raise when she found out her male costars were paid significantly more than her and effectively received less time on-screen. Eventually, she was fired regardless of becoming a household name. She was well on her way to being a massive movie star but was swindled out of earning what she deserved.
This resulted in her pursuing other paths to make money and never quite reaching the success and fortune she envisioned for herself.
The comedian and movie star Chris Tucker starred in the films Friday and Rush Hour, and they became massive box office hits. He collected so much money that he hid most of it from the IRS. Eventually, he was caught and owed around $14 million. He worked out a deal with the IRS but admitted there were times when he could hardly afford his bills; apparently, the success didn’t last very long.
This series of wrong financial moves really plummeted his net worth. Now Chris Tucker isn’t very active in the entertainment scene and chooses to stay private.
The Real Housewives of New Jersey is a popular reality show all about extravagance and showing off your riches. Teresa Giudice surely likes to play the part, even if it’s not entirely true. She and her husband filed for bankruptcy but really were hiding their money; they were caught and sentenced to prison for fraud. The posh star served about a year in jail, and her now ex-husband did about two.
Despite being low on cash, she continued doing beauty treatments that would cost upwards of thousands of dollars even after she was released. She refuses to change her lifestyle, although she can’t afford it.
The rapper Tyga dated the young billionaire Kylie Jenner for a long time. They constantly flashed their clothes, expensive luxury cars, and homes. He even gifted Kylie a Ferrari for her 18th birthday, which can run at half a million dollars at least. However, this lifestyle is all for show and impossible to upkeep. Tyga allegedly owed his landlord over a million dollars in rent, thousands for jewelry, and unpaid alimony for his child.
This star may still be in Hollywood, but not for long. If he keeps this up, he’ll run all of his bank accounts completely dry.
Larry King has been a part of the entertainment world since the 1950s, between radio and television hosting to starring in his talk show, The Larry King Show. Earlier in his career, he got into a sticky situation, racking hundreds of thousands of dollars in debt and filing for bankruptcy. Although this was a significant setback, he still managed to make a name for himself and make a living, albeit not a flashy one.
Larry King is a household name, but many people don’t know the financial struggles he went through and why he chooses to live so humbly today.
The Game of Thrones star has quite a lawsuit on her hands. You would think she’s living her dream life especially being a main character in one of the most popular shows right now. But she’s being sued for over a million dollars in unpaid commission fees. She’s also tied up in divorce expenses and claims to be living off of credit cards. This is definitely the not-so-glamorous part of being rich and famous.
What’s the point of boasting about the celebrity lifestyle when you can hardly afford anything? It seems to all be for show and more detrimental than ever.
Johnny Depp, the actor and musician who is best known for his eclectic style and acting, has had quite a career. He has accumulated a substantial wealth that most people could only dream of and has managed to blow it all. Despite winning a defamation lawsuit against Amber Heard, his financial problems didn’t disappear. He lives a very luxurious life spending money on art pieces, mansions, and multiple luxury vehicles.
He is sure to drive himself into debt at the rate he is going, but it seems he’d rather live a crazy and bourgeoise lifestyle than be financially savvy.
Joey Lawrence has been in Hollywood for a very long time. He was a child actor before he got recognition for his roles in Blossom and Melissa & Joey. His fame and paychecks peaked during that time, but it didn’t last too long. Despite not having prominent roles anymore, he was spending like he still did. His wife and him quickly accumulated overdue credit card bills, rent payments, and taxes. So what did they do?
Things got so bad that they sold purses and wallets on eBay to make money. Of course, as most celebrities do, their next move was to file for bankruptcy.
Most people would say Dennis Rodman is one of the best basketball players of all time. Though he didn’t come from riches, once he experienced some success, he lived an exorbitantly glamorous life. From partying to clothes and drugs, he wanted it all. He was on the fast lane and ripped through his money at a ridiculous rate. His spending raked up a debt of over $1 million, and the IRS was coming for unpaid taxes.
Although his name is instantly recognizable and he is still relatively famous, his finances have spoiled his lifestyle. He can keep it up, but it will only lead to doom.
It seems to be pretty standard that once celebrities get a taste of the sweet life, they don’t want to come down. Wesley Snipes, known for his role in the movie Major League started making a ton of money and encountered an interesting problem. He didn’t want to give it up by paying taxes, so he didn’t. He claims he was advised not to pay but was eventually imprisoned for it, serving three years.
Now prison is not such a glamorous life, so he’d better pay his taxes next time. It would save a lot of pain and hardships.
Don Johnson became a star in the 1980s and 1990s and started watching his bank account balance go up and up. His role in Miami Vice really solidified his place in Hollywood, but despite making it big, he had a secret. His debt was more than he was actually making. He didn’t have a problem spending money on frivolous things but accumulating a debt worth millions is just ridiculous and irresponsible.
Don may not know how to slow down his spending, but it will only come back to haunt him. Sometimes the fast and extravagant lifestyles aren’t for everyone.
New York Jets quarterback Michael Vick was caught amid a bizarre scandal that revolved around a dogfighting ring. He was imprisoned for it and accumulated debt worth almost twenty million dollars. Clearly, this crazy lifestyle isn’t only for actors or musicians. He eventually had to declare bankruptcy, but that’s not even the craziest part. After committing a significant crime and racking up millions in debt, he went right back to playing professional football.
You would think his reputation would be ruined entirely after that, but he still had a chance to come back and play ball.
Almost every generation could sing the song Ice Ice Baby, which can be attributed to Vanilla Ice, also known as Robert Matthew Van Winkle. Although he had this massive hit, he didn’t have many career highs after that. His income from his one-hit wonder was doomed to run out, but once his ex sued him for child support, there was no winning for him. His fortune was quickly dried out.
Vanilla Ice’s career was as quick as ice left out for a few minutes. It melted away just like his finances.
The rock singer Michael Lee Aday better known as Meat Loaf, quickly shot to success and became a Grammy award-winning musician. Not only did he sing, but he also had a successful career in acting. So, where did he go wrong? Well, he attracted lawsuits like food left outside attracts flies. At one point, he had over 45 different lawsuits to fight and accumulated a debt of over 80 million dollars.
Sadly he passed away at seventy-four and, by the end of his life, had to live a very low-key lifestyle away from any Hollywood flashiness.
David Adkins, or the comedian Sinbad, endured massive fame in the comedy world. But after achieving such high success, he couldn’t handle the riches that came with it. He was so wrong with his money that he had to file for bankruptcy twice. He later revealed that he had over eleven million dollars in debt and didn’t know how to cope. He swore he lived a humble life but just made terrible business decisions.
Oh, the rollercoaster of fame, one day on top of the world with millions in your bank account, and the next, no one remembers your work, and you’re in debt.
Aaron Carter rose to fame as a teen pop star when he was so young, entering the entertainment world at only nine years old. He became so famous and rich but had no idea what to do with it. Would you believe that he filed for bankruptcy at eighteen years old? He had over $2 million in debt from his spending habits and lack of guidance—quite an intense experience for someone so young.
Unfortunately, he was never quite able to shake off his bad habits and died from an overdose the same year he finally saved enough to own a house.
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