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.

#1 Toni Braxton

The first name on this list may surprise you. Toni Braxton was a big name with her hit “Unbreak My Heart” – the best song of all time. She sold more than 70 million records worldwide. Unfortunately, the singer has gone bankrupt twice so far.
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

Gary Busey was once a well-known Hollywood celebrity. The Texas actor received widespread media recognition for his pivotal role in the 1978 biopic "The Buddy Holly Story," for which he was nominated for an Academy Award. He then went on to star in blockbuster films like "Lethal Weapon" and "Point Break," which were also commercial successes.
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

The younger brother of Backstreet Boys’ Nick Carter has ever been a sweet and young idol. The hit “Candy” cemented his fame and gave him fortune while he was just 7 years old. However, a slew of scandals with drug addiction annihilate his promised career as a celebrity.
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

After taking home the title of "American Idol" season 3 champion in 2004, Fantasia gained international fame. Her debut album was given a platinum certification, and her first single, "I Believe," immediately reached the top of the charts in the United States and Canada.
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

MC Hammer rose to fame as the classic Hollywood example of rags to riches and back again tale for over a decade. He attained international popularity with his breakthrough single "U Can't Touch This" from his third studio album after producing two albums that were only moderately successful. Forbes estimated Hammer's net worth at over $33 million at the time.
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

Lil' Kim, who is revered as the "Queen of Rap," has sold more than 30 million singles worldwide and is credited with inspiring a generation of rappers. For the hip-hop sensation, money was truly everything. However, Lil' Kim found herself in a rapid fall as a result of declining record sales and a prison sentence in 2005.
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

Before being cast for the 15th season of "Survivor," Todd Herzog worked as a flight attendant for SkyWest Airlines, flying all over the country. He won the season and the $1 million cash prize at the age of 22 thanks to his meticulously planned performance on the show.
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

Hollywood superstar Burt Reynolds was a top box office draw in the late 1970s and early 1980s, but as the years went on, he gradually lost his bankability. In 1996, the actor filed for bankruptcy due to his pricy divorce from Loni Anderson and some bad investing decisions. Soon later, in 1997, he made a comeback in his career with "Boogie Nights," which led to an Oscar nomination and a Golden Globe win.
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

T-Pain has amassed a net worth of over $40 million since making his debut in 2005 and has accumulated a string of hit singles. But rather than making sensible financial decisions, he purchased a huge property and a $2.1 million Bugatti, which he eventually sold for just $800,000. That bank account definitely didn't fall "low low low" for very long, and by 2019, the "Buy You a Drink" singer had no choice but to seek bankruptcy protection. The same year, T-Pain victory in the inaugural season of "The Masked Singer," and things currently appear to be going well for him.

#10 Kim Basinger

Kim Basinger rose to fame in Hollywood thanks to her outstanding femme fatale appearances in the 1980s and 1990s. But the actress encountered numerous failures at the height of her acting career that had a significant negative influence on her money. She spent $20 million on a little village in her native Georgia, an investment that had disastrous results. She then pulled out of the disastrous film "Boxing Helena," for which she was sued and made to pay the company millions of dollars. As a result, she declared bankruptcy.
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.