When you think of those celebrities, I am sure that it will cross your mind all the money they are making. And when I see people who earned that amount of money go bankrupt, it makes me depressed. What is left for me to hope for? Some will say easy come, easy go. But, when you think of it, we made them, there must be something in that. What these people did, it will remain a mystery to me. Maybe wrong investments or unreasonable spending money on weird stuff, just to show off, or something third, I don’t know. Lets see the list, and maybe we’ll come up with idea what happened here. There must be a pattern these people missed, and got themselves in this positions.
1. Mike Tyson
During his boxing career Mike has earned hundreds of millions, but it seems that was not enough for him and his lavish style of living. Mike filed for bankruptcy in 2003, at that moment he owned $27 millions.
2. Nicolas Cage
Oscar winning actor Nicolas Cage faced bankruptcy in 2009, he was forced to put several of his properties on the market, when he failed to pay up to $6 millions he owed to IRS. This picky actor was forced to take gigs which he never, in normal conditions, would.
3. Gary Coleman
Known as the child star from Different Strokes, ended up with financial problems. In 2009, he had a debt of $72, 000. He also accused this adoptive parents for stealing more than million dollars from him.
4. Larry King
Famous talk show host, Larry King, was unable to pay his debt of $ 352, 000 in 1978 and declared bankruptcy. He was struggling to get out from this, and managed to become Americas’ most wanted anchor.
5. Natalie Cole
Great singer Natalie Cole, one of the best jazz singers today, went bankrupted in 1997.
6. Cyndi Lauper
Cyndi was one revolutionary singer in the 80s’. Even though everything was those days unconventional, she was the bravest one with the whole appearance and style. Lady Gaga of the 80s’. She was bankrupted in the 80s’. Managed to get out of the debt with her hard work and singles like “Girls Just Wanna Have Fun“.
7. Michael Jackson
Hard to believe that pop king had any financial problems ever. With all those hits and so much work it makes you wonder how this happened. In 2009 Michael had a debt of more than $500 millions to different creditors. Jackson’s Never Land was close to foreclosure.
8. Zsa Zsa Gabor
In 1993, Zsa Zsa had to file bankruptcy, for owing more than million dollars to actress Elke Sommer, for being sued for libel.
9. Donald Trump
It is not imaginable to see this man on the list, but believe it or not, this man filed bankruptcy three times. We will mention just the last two. In 1991, had a debt of $900 millions, and had to give up ownership holdings of the Trump Taj Mahal and Trump Plaza Hotel. The crisis in 2009, didn’t left Trump untouched, and he had to file for bankruptcy.
10. Tia Carrere
Tia went bankrupt early in her career. She lost her suit with ABC in 1986, she tried to escape her contract with General Hospital to join the cast of A-Tim.
11. Francis Ford Coppola
It seems that bankruptcy runs in the family. Francis, as the older one, went bankrupted earlier, in the 1990. when he was shooting Godfather III.
12. Toni Braxton
In the early 90′s this singer filed for bankruptcy, because she had a debt of $3.9 millions from financial mismanagement.
13. Randy Quaid
Actor Randy Quaid and his wife, Evi, filed for bankruptcy caused by “The Debtors”, a film the couple made in 2000 which wasn’t a success. The couple was reported to be $3.5 million in debt.
14. Kim Basinger
When you lose a suit and have to pay $8 millions, it is not a small thing even if you are on the peek of your career, like Kim Basinger was in 1993.
15. Don Jonson
We all know this man from Miami Vice, but he he was sued by City National Nak of Los Angeles for over $930,000 in 2004. Johnson finally managed to save his $20 million Pitkin County ranch in Colorado.
As a summary, what have we have learned her. How not to bankrupt? First, never suit with no one, better leave it as it is. Don’t mess with IRS, be careful who is your manager and in what are you investing your money, and most important, don’t show off. You will just have false friends and soon will be left without everything.