It’s hard to imagine that some celebrities can make tons of money, and yet still file for bankruptcy at the end of the year. What are they doing with all that dough? And seems like the older stars from the 90’s usually have it the worst.
Throughout the decades, we’ve seen dozens, if not hundreds, of singers, actors and other celebs go from making millions, to scraping the bottom. Here are 10 celebrities who went broke and didn’t tell you.
Nick Cage
One of the most eccentric actors of this generation – Nicholas Cage used to earn millions, but he spent all that money on fancy mansions, private jets, and expensive cars. He even bought an actual medieval castle (Midford Castle) and a freaking island in the Exuma Archipelago! At that point he realized he was already in deep feces, and amassed over $14 million in debt. Naturally, he had to sell all of his stuff, and now he can afford 2 cupped ramens a day, but I think he’ll never go on such a spending spree ever again.
Lindsay Lohan
The girl liked to stay in expensive condos, buy heaps of designer clothes, and jewelry, so it’s no surprise that one day she suddenly owed over $600,000 in credit card debt. 2 years later, in 2012, Lindsay Lohan was in financial ruin. The IRS froze her accounts, and what’s worse, she even took a $100k loan from Charlie Sheen!
50 Cent
50 cent filed for bankruptcy in last July. He lost almost all of his 500 million due to living too large, and reckless behavior. The final bullet was a $7 million lawsuit for posting a sextape of some woman getting it on with another man, without her consent.
Brendan Fraser
Back in the 90’s Brandon was the sh#t, but recently … not so much. He had to declare bankruptcy in the early 2000’s, when even making 200,000 per month couldn’t save him from all the bills, manager fees, and child support payments.
Drake Bell
The legendary child star of the Nickelodeon show “Drake and Josh”, currently owes about $600,000 to the IRS and whatnot. What’s worse, he filed for bankruptcy after claiming he owed $1.597 million. Oh Josh, we thought you were smarter. Now Drake’s focusing more on music, so here’s hoping he’ll drop a platinum album soon!
Wesley Snipes
Welsey Snipes, one of the most badass Hollywood action stars, apparently owes IRS $12 million dollars? Is there nothing sacred for those scavengers? So he did a tiny tax fraud in 2006, big deal. It’s still Wesley “Blade” Snipes. Let’s hope Marvel gets him that new Blade role soon.
Pam Anderson
In 2009, this legendary Playboy bunny used to owe $1.7 million in tax debt back, and also over $1.9 million to the Canadian government. Still, it took her 3 years of racking up millions in home renovations, and back taxes, she had to declare bankruptcy. A year later, in 2013, she sold her amazing Malibu home for $7.75 million.
Lena Headey
When you look closer at Lena Headey’s life, you may find she has a few things in common with her character on Game of Thrones. And, assuming you’re at least read the title of this article, you’ll know at some point she went broke (although, they say the Lannisters always pay their debts). Lena was in a really bad divorce, after which she was left with $5 in her bank account. Sure, playing Cersei nets her a nice sum of money, but she still had to sell her Hollywood home at a loss of $450,000 to make ends meet. All thanks to strip clubs, gay bars, and Peter Dinklage – her personal guide.
Lady Gaga
Do you remember her going broke in 2009? Yeah, me either. Lady Gaga has always been so famous and seemingly successful, that people were surprised to learn, she admitted to going bankrupt. Apparently, during her “Monster Ball” tour, GaGa spent all of the money on weird, needlessly over-the-top costumes, which put her $3 million in the hole.
Donald Trump
And, finally, our beloved president of the United States – Donald Trump, who declared bankruptcy for his corporate entities on not one, but four different occasions! The Trump Taj Mahal in 1991, Trump Plaza Hotel in 1992, Trump Hotels and Casinos Resorts in 2004, and Trump Entertainment Resorts in 2009. He claims that virtually every person that you read about on the front page of the business sections, have used the bankruptcy law. In his defense, he used the bankruptcy card four whole times, and still made it work, eventually becoming one of the most powerful people on earth, which only means that bankruptcy is not always the end!
