Some celebrities' struggles with excessive debt are a passing phase in their careers. The inability to effectively manage one's finances is not only a difficulty faced by "normies" but also by
celebrities. And the reason they fail financially is the same reason that middle-class families fail financially. They act irresponsibly by spending more than they earn or taking risks that they have not properly evaluated.
The encouraging thing is that most of them can recover after experiencing these setbacks. The following is a list of
debt hidden stars with unbelievable reversal.1. Will Smith
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Will Smith began singing at age 12. He and DJ Jazzy Jeff released a successful duo album. Smith, an overnight millionaire, bought a home in Philadelphia. He bought fancy clothes and luxury automobiles and had fair-weather buddies. But he owed the IRS $2.8 million in unpaid taxes. Smith was broke after they confiscated his assets. The Fresh Prince of Bel-Air was Will's acting debut. He restored his financial standing after the project's success.
2. George Foreman
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Foreman started boxing as a teenager. He won the world heavyweight title in 1973 after knocking out Joe Frazier. He retired in 1977 after numerous high-profile bouts. Heatstroke killed Foreman. Later, he became a preacher and founded a youth boxing club, but he lacked cash. At 38, he returned to boxing and won two matches. Commercial endorsements restored his finances. He launched the best-selling George Foreman Grill.
3. Lady Gaga
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Lady Gaga released The Fame in 2008. Just Dance, from the album, was nominated for a Grammy in 2008. Her other single, Poker Face, topped charts in almost every country. The Monster Ball Tour lasted 18 months in 2009. She spent about $200 million on 200 performances. Unknown to her, she owed $3 million. The work's excellence and popularity landed her a $40 million agreement with Live Nation and an HBO special.
4. Britney Spears
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Britney Spears became famous at 16 in the late 1990s. Her first track was an international hit and a chart-topper. Nine studio albums, eight compilations, and 47 singles. Her father became her conservator after a 2008 breakdown. Forbes says Britney paid her father $16,000 weekly. Spears spent a lot on her conservatorship battle and her father's lawyers.
5. 50 Cent
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2015 bankruptcy for
50 Cent. He owed Rick Ross's ex-girlfriend $5 million to publish her sex tape online. His rap career was struggling during this time. His house helped him avoid bankruptcy. He used $13.6 million to pay off $14.5 million in lawsuits. His marketing and promotional arrangements also helped.
6. Travis Barker
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Blink-182 drummer Travis married Kourtney Kardashian. Travis became famous as Blink-182's drummer in 1999. After the band went on hiatus in 2005, he experienced financial trouble. Later, he divorced Shanna Moakler and survived a plane crash that killed his pilots, security guard, and personnel assistant. Several projects and Blink 182's return helped him heal. $50 million.
7. Michael Jordan
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In 1984, Michael Jordan signed with the Chicago Bulls and became a star. He won gold in 1984 and 1992. The gambling issue may have led to his 1993 NBA retirement. Jordan lost $5.7 million in a gambling deal the year before. He said that faulty decisions led him to pass "an envelope." In 1995, he returned to the NBA and won the title. Jordan is the richest ex-athlete, having a $1.6 billion net worth.
Here are h
idden stars with unbelievable reversal.