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Celebrities Who Went Broke Overnight

Incredible Riches to Rags Celebrities’ Stories

Fame and fortune come together most of the time. However, there are always exceptions to the rule. While most of us would think that celebrities are rich, there are some cases that confirm the opposite. At one moment you are at the top thinking that roses will bloom your whole life, and the other you go broke. Celebrities who didn’t know how to handle their finances have only their fame left, while money is something which they own to the IRS or they really have very little of.

Lindsay Lohan

Celebrities Who Went Broke Overnight
Photo: ew.com

Lindsey has been a celebrity from young age, which brought her tons of money. However, she has a debt of 600,000 dollars.

Burt Reynolds

Celebrities Who Went Broke Overnight
Photo: biography.com

Burt Reynolds had an amazing career, but at the age of 80 there were some rumors that he owed 10 million dollars. The rumors were confirmed when he started selling his movie memorabilia.

Nicolas Cage

Modesty is certainly not Cage’s trait. He bought entire islands, castles and limited editions of everything, so he has spent all his fortune, now owing money to the IRS.

Janice Dickinson

Celebrities Who Went Broke Overnight
Photo: cnn.com

In order to keep her beauty she has spent everything on plastic surgeons and dermatologists. Can you believe what could women do for beauty?

Toni Braxton

Celebrities Who Went Broke Overnight
Photo: people.com

Lying on her insurance forms, left her broke.

David Crosby

After going broke and being charged for drugs and weapons, he was living in his friend’s room, wearing his clothes.

Ric Flair

The divorces and similar legal procedures drained his finances, and he couldn’t live the extravagant lifestyle he once did.

Kim Basinger

Her investment of 20 million dollars for transforming Braselton into a film festival location was the reason for her bankruptcy.

Don Johnson

Celebrities Who Went Broke Overnight
Photo: salon.com

Gambling was the reason he went broke.

Sinbad

Sinbad filed for bankruptcy twice, having a debt of 11 million dollars.

T-Boz

Even though she didn’t lead a public lavish lifestyle, her third file for bankruptcy was due to her medical bills treating her brain tumor.

Heidi Montag

Heidi and her husband spent 10 million dollars on wine, shopping sprees and plastic surgery.

Spencer Pratt

Celebrities Who Went Broke Overnight
Photo: radiotimes.com

Heidi’s husband was her accomplice in her uncontrolled spending habits and later in bankruptcy as well.

Mike Tyson

Mike filed for bankruptcy in 2003 because of his uncontrollable spending habits on jewellery, parties, mobile phones, cars, etc.

MC Hammer

Celebrities Who Went Broke Overnight
Photo: cnn.com

He was estimated about 33 million dollars, however in 1996 he had a 13 million dollars debt.

Teri Polo

Celebrities Who Went Broke Overnight
Photo: tvguide.com

The 44-year-old Teri went broke due to high credit card bills.

Pamela Anderson

Celebrities Who Went Broke Overnight
Photo: people.com

First, she didn’t pay the contractors who were rebuilding her house in California, and afterwards she sold her house in order to pay the debt.

Randy Quaid

There were some allegations that Randy and his wife left a hotel without paying their 10,000 dollar bill.

Wesley Snipes

Even though he was one of the richest black male actors, he made a fraud of 12 million dollars in taxes for which he served three years in prison.

Chris Tucker

He owed 14 million dollars to the IRS, and paying it he was left broke.

OJ Simpson

Celebrities Who Went Broke Overnight
Photo: newyorker.com

Simpson has fallen that low that when in prison he was complaining that his female fans weren’t sending him goodies anymore.

Allen Iverson

Celebrities Who Went Broke Overnight
Photo: foxsports.com

Being too generous buying friends and family extravagant gifts, having no idea about finances and also an expensive divorce were the reasons for his bankruptcy.

Brendan Fraser

Giving a ton of money in alimony, he is close to bankruptcy.

Kelis Rogers Mora

Her husband Nas has left Kelis pregnant and broke!

Cyndi Lauper

Celebrities Who Went Broke Overnight
Photo: news.com.au

After the split of her band Blue Angel, Cyndi went broke and she even tried to make money singing in a Japanese restaurant dressed like a geisha.

Nadya Suleman

Being unemployed, the mom of eight even posed topless to support her and her children.

Tia Carrere

Tia went broke because the soap didn’t give her enough work, which lead to bankrupt. At the same time she was too young and irresponsible with money.

Duchess Sarah Ferguson

Celebrities Who Went Broke Overnight
Photo: people.com

Even though Jeffrey Epstein helped her she still walked on the edge of bankrupt.

Courtney Love

Celebrities Who Went Broke Overnight
Photo: inquisitr.com

Courtney says she had lost about 27 million dollars in “Nirvana Money”. Can you believe that?

Larry King

He filed for bankruptcy in 1978, while his broadcasting career was ruined. However, his show “Larry King Live” saved him.

Gary Busey

Even though he has settled his bankruptcy case, he still owns more than 450,00 dollars in taxes.

Lena Headey

This beauty’s bank account was revealed publicly because of her divorce and apparently she had only 5 dollars in it.

Dennis Rodman

Celebrities Who Went Broke Overnight
Photo: foxnews.com

The former NBA star was so sick and broke that he couldn’t even pay for child and spouse support.

Lauryn Hill

Celebrities Who Went Broke Overnight
Photo: avclub.com

Lauryn ended up in prison for tax evasion of 1.8 million dollars.

Michael Jackson

Celebrities Who Went Broke Overnight
Photo: mtv.com

The most successful entertainer according to “The Guinness Book of Records” had to file for bankruptcy because he couldn’t pay the loan for his home Neverland.

Donald Trump

Celebrities Who Went Broke Overnight
Photo: rawstory.com

Trump himself has never filed for bankruptcy, but his corporations have about four times.

Teresa Giudice

Teresa and her husband spent a lot of time in prison and did everything to pay what they owed, but they are still bankrupt.

Terrell Owens

Bad investments, trusting the wrong people and large child support payment is what brought Terrell to bankrupt.

Drake Bell

Being world-famous and only 26 years old, he already went broke.

Aaron Carter

Celebrities Who Went Broke Overnight
Photo: ppcorn.com

“From 18 years old up until last year, I have been spending it trying to figure out how to resolve the bankruptcy issue in the … least embarrassing way for myself and the best way to protect everybody who was involved,” says Aaron.

Stephen Baldwin

Celebrities Who Went Broke Overnight
Photo: inquisitr.com

It all started when his home got foreclosed, and ended up with jail.

Donna D’Errico

Celebrities Who Went Broke Overnight
Photo: famousfix.com

When she filed for bankruptcy, she only had 20 dollars in her bank account.

Sources:

http://www.rantfinance.com/2015/10/20/15-celebrities-who-are-surprisingly-poor/

http://todayslifestyle.com/slideshows/15-celebrities-youll-never-believe-are-actually-poor-201547935/

http://www.pressroomvip.com/celebrities-who-went-broke/

http://www.therichest.com/expensive-lifestyle/money/10-celebrities-who-are-actually-broke/

http://www.everyjoe.com/2014/06/25/entertainment/broke-celebrities-who-lost-millions-stars-gone-broke/2/

http://celebritymozo.com/2016/02/11/20-celebrities-that-are-actually-poor/

http://news.fansided.com/newdata/adpreview?ad=1911146&bl=85230&ct=adpreview&st=16

http://myfirstclasslife.com/20-celebrities-went-broke/?singlepage=1

Celebrities That Went from Rich to Broke in 2013

http://perezhilton.com/2010-10-07-toni-braxton-went-broke-after-filing-an-inaccurate-insurance-plan-and-then-needing-medical-assistance#.V43S6o9OKUk

http://www.bankrate.com/finance/celebrity-money/musicians-bankruptcy-david-crosby.aspx

http://orzzzz.com/5-professional-wrestlers-who-have-gone-broke.html

https://www.phactual.com/9-celebrities-who-went-broke/

12 Celebrities Who Made Millions and Went Broke

http://www.usatoday.com/story/life/people/2013/12/04/spencer-and-heidi-explain-how-they-blew-10-million/3869453/

http://www.telegraph.co.uk/finance/personalfinance/fameandfortune/11238706/Celebs-you-didnt-know-were-bankrupt.html?frame=2337168

http://www.dailymail.co.uk/tvshowbiz/article-2610567/A-millions-dollars-debt-Meet-The-Parents-star-Teri-Polo-files-bankruptcy.html

http://abcnews.go.com/Entertainment/wrong-randy-quaid-actor-wife-skip-court-date/story?id=11916425

http://www.forbes.com/sites/robertwood/2014/09/02/serious-lessons-from-comedian-chris-tuckers-14-million-irs-bill/#4812114273f4

http://radaronline.com/celebrity-news/oj-simpson-prison-meltdown-broke-women-money/

Shattered Dreams: 7 Reasons Why Allen Iverson Went Broke

http://www.thewire.com/entertainment/2013/03/brendan-fraser-going-broke/62724/

http://radaronline.com/exclusives/2013/04/nadya-suleman-octo-mom-kids-receiving-free-health-insurance/

http://www.onlygoodmovies.com/blog/movie-megalists/celebrities-whove-lost-millions/

http://www.usmagazine.com/celebrity-news/news/courtney-love-lost-27-million-in-nirvana-money-i-had-to-let-it-go-2014118

http://www.huffingtonpost.com/entry/aaron-carter-bankruptcy_us_56bba457e4b0c3c5504fe5a0

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