Everyone craves the life of a celebrity… After all, what’s not to like? Mansions in exotic locations, luxury cars and wardrobes bigger than your bedroom might have given you the impression that celebrities bathe in pools of money when they are not busy getting their nails done. However, the brightness of stardom can also be a bit blinding as for these few celebrities who were millionaires until one day they woke up and had to declare bankruptcy! From rich to poor stories.
Excited to know which celebrities went from have-it-alls to homeless? Read on!
The superstar whose finesse as an entertainer had been acknowledged even by the Guinness Book of World records had to file for bankruptcy in 2007 due to his shopaholic tendencies and also because he was not able to clear the $25 million dollar debt which he had acquired on the purchase of his home at Neverland Ranch. Even signing billion dollar worth of music contracts didn’t help and Jackson died soon after in 2009.
The popular stars of films like Slums of Beverly Hills and American Pie, Natasha lost all her money following a hospitalisation and a string of arrests. These days she appears in Orange is the New Black, a television series, but her fame is no longer even one tenth of what it was before.
How can one of the most celebrated and feared boxers of our times lose all of the $400 million dollar money which he had earned during his long lasting career you ask? Everything went downhill for Mr. Tyson all at once when he had to part with his money in a divorce and had to cope up with the expenses courtesy of an impressive entourage, his fascination for wild animals, mansions and last but not the least, his struggle to maintain a luxurious lifestyle. He ultimately accepted defeat and filed for bankruptcy in 2003.
She was only one of the entire Baywatch crew who managed to make it big in Hollywood. However, everything crumbled down after she purchased her Malibu home worth a $1.1 million dollars and didn’t have enough money to see to its maintenance.
The name seems familiar? That’s because Belfort had his character portrayed by Leonardo di Caprio in The Wolf of Wall Street! This is perfect from rich to poor story. Can you believe he earned an average of $250 million dollars just in his twenties? He had to spend two years in prison, had to lose a lot of his valuable assets and is still facing a debt of more than a million dollars. A riches to rag story doesn’t get more sad than this!
This from rich to poor guy ended up owing the IRS a staggering amount of $16.7 million dollars just because of his lousy accountants who weren’t careful enough to pay off his taxes regularly and meticulously. However, Nelson managed to stand on his feet once again by auctioning his memorabilia and also released a music album to pay off his debt.
Who knew money could run out so soon right?