10 Celebrities Who Lost Everything
Celebrities have a well-to-do life that we dream of. They have fame and especially can earn a massive fortune from their performance, even just from their appearance. That allows them to possess lavish mansions, world-class brand items, and even precious things in the world.
However, not all celebs can keep their wellness last. In fact, some biggest names dealt with bankruptcy due to many reasons, from disastrous spending sprees, illness, or even pricey divorce. Most of them can’t get fully recovered after sinking deeply into the quagmire of dept.
In this post, we enlist 10 famous people who lost it all. They have ever had fame and massive estate, yet lost it all thereafter. This list is far from exhaustive, but enough to raise awareness of the importance of financial management as well as wastage of decadent usage, also the damaging effects of evils.
In fact, Braxton rarely received any of the millions her song made. She had to file for bankruptcy after finding herself in dire straits. She was able to climb out of that hole, but in 2010, after her Vegas residency was postponed due to her health concerns, she ended up filing for bankruptcy once more.
She was able to rise from her financial ashes, though, much like the Phoenix, and she now produces and stars in the popular reality series "Braxton Family Values."
In 1988, Busey was injured in a terrible motorbike accident that resulted in chronic brain injury. This led to a decline in his financial situation. The once-bankable Hollywood figure deteriorated both on and off camera, making it difficult for him to land parts in both films and television shows. Busey was forced to file for Chapter 7 bankruptcy in 2012 because most of his money had disappeared and not enough was coming in.
He possessed over $200 million before the age of 18, but without hit singles and fast-selling albums, he went bankrupt in 2013. He claimed that his parent mismanaged all of the money he earned, leaving him back taxes to the tune of $4 million after crossing into adulthood. Thus he had to declare bankruptcy to pay off most of his debt.
Be that as it may, the teen idol seems to be on the right path now. He has fully eliminated his debt and even bought a house in 2019.
Fantasia's life first appeared to be going well, but being the only provider for her mother, daughter, siblings, and sister as well as the dropping sales of her second album, she quickly found herself in financial difficulty. Her 1.1 million dollar home was about to be sold at auction to pay back a loan. Fantasia acknowledged her errors in an interview with Oprah, attributing her misfortune to her poor financial judgment and inability to say no.
Unfortunately, His reckless spending, opulent residence, and numerous dependents quickly drank up this supposedly instantaneous wealth. Hammer's career as a musician had collapsed by 1996, and he was over $13 million in debt, forcing him to file for Chapter 11 bankruptcy. Despite a few efforts at recovery from his fall, the California rapper never fully recovered.
She filed for bankruptcy in 2018, claiming to be about $4 million in debt, the majority of which was made up of unpaid taxes and mortgage loans. The Queen Bee's $2.3 million house was put up for auction with a $100 starting offer to pay off her debt. It's not a typo!
Although Herzog was successful on the screen, his entire fortune was in danger since he was battling an alcohol use disorder. Herzog was able to change his life after getting counseling from a specialist. Since becoming sober, he has had a rather tranquil life with his husband, Jess Hermansen.
By 2014, Reynolds was auctioning off mementos and private belongings, which revived bankruptcy rumors. Reynolds stayed at his Florida residence until his passing in 2018. The property was formerly in foreclosure but was later bought by a neighbor, who gave Reynolds a discounted rate to live there.
The Oscar-winning actress' marriage to Alec Baldwin ended in a contentious divorce, which reportedly cost her an additional few million dollars. Financially, she never fully recovered.
However, not all celebs can keep their wellness last. In fact, some biggest names dealt with bankruptcy due to many reasons, from disastrous spending sprees, illness, or even pricey divorce. Most of them can’t get fully recovered after sinking deeply into the quagmire of dept.
In this post, we enlist 10 famous people who lost it all. They have ever had fame and massive estate, yet lost it all thereafter. This list is far from exhaustive, but enough to raise awareness of the importance of financial management as well as wastage of decadent usage, also the damaging effects of evils.
#1 Toni Braxton
In fact, Braxton rarely received any of the millions her song made. She had to file for bankruptcy after finding herself in dire straits. She was able to climb out of that hole, but in 2010, after her Vegas residency was postponed due to her health concerns, she ended up filing for bankruptcy once more.
She was able to rise from her financial ashes, though, much like the Phoenix, and she now produces and stars in the popular reality series "Braxton Family Values."
#2 Gary Busey
In 1988, Busey was injured in a terrible motorbike accident that resulted in chronic brain injury. This led to a decline in his financial situation. The once-bankable Hollywood figure deteriorated both on and off camera, making it difficult for him to land parts in both films and television shows. Busey was forced to file for Chapter 7 bankruptcy in 2012 because most of his money had disappeared and not enough was coming in.
#3 Aaron Carter
He possessed over $200 million before the age of 18, but without hit singles and fast-selling albums, he went bankrupt in 2013. He claimed that his parent mismanaged all of the money he earned, leaving him back taxes to the tune of $4 million after crossing into adulthood. Thus he had to declare bankruptcy to pay off most of his debt.
Be that as it may, the teen idol seems to be on the right path now. He has fully eliminated his debt and even bought a house in 2019.
#4 Fantasia
Fantasia's life first appeared to be going well, but being the only provider for her mother, daughter, siblings, and sister as well as the dropping sales of her second album, she quickly found herself in financial difficulty. Her 1.1 million dollar home was about to be sold at auction to pay back a loan. Fantasia acknowledged her errors in an interview with Oprah, attributing her misfortune to her poor financial judgment and inability to say no.
#5 MC Hammer
Unfortunately, His reckless spending, opulent residence, and numerous dependents quickly drank up this supposedly instantaneous wealth. Hammer's career as a musician had collapsed by 1996, and he was over $13 million in debt, forcing him to file for Chapter 11 bankruptcy. Despite a few efforts at recovery from his fall, the California rapper never fully recovered.
#6 Lil’ Kim
She filed for bankruptcy in 2018, claiming to be about $4 million in debt, the majority of which was made up of unpaid taxes and mortgage loans. The Queen Bee's $2.3 million house was put up for auction with a $100 starting offer to pay off her debt. It's not a typo!
#7 Todd Herzog
Although Herzog was successful on the screen, his entire fortune was in danger since he was battling an alcohol use disorder. Herzog was able to change his life after getting counseling from a specialist. Since becoming sober, he has had a rather tranquil life with his husband, Jess Hermansen.
#8 Burt Reynolds
By 2014, Reynolds was auctioning off mementos and private belongings, which revived bankruptcy rumors. Reynolds stayed at his Florida residence until his passing in 2018. The property was formerly in foreclosure but was later bought by a neighbor, who gave Reynolds a discounted rate to live there.
#9 T-Pain
#10 Kim Basinger
The Oscar-winning actress' marriage to Alec Baldwin ended in a contentious divorce, which reportedly cost her an additional few million dollars. Financially, she never fully recovered.
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