Celebrities who went bankrupt: Celebrities make millions of dollars for acting, singing, producing, and sometimes for just making an appearance at a party. So you’d think that they have money to spare, but that’s not always the case. A huge payday can sometimes inspire an ill-advised impulsive purchase instead of doing the smart thing and investing. We’ve all been there, but probably not to the extremes that celebrities have.
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After spending all their money on trips, cars, designer clothes, and extravagant parties, some celebrities find themselves closer to broke than rich. They might think, “oh well, I’m famous, I’ll make back all that money and more in no time.” Unfortunately, fame is fickle. They could be an A-lister with no end to the success in sight one day, and a sex tape, trip to rehab, or tabloid scandal could land them on the do-not-hire list the next.
So what does a celebrity do when they find themselves with less money in their bank account than they thought and no job prospects in sight? They do what anyone else would do: either try to write a book, or just accept the inevitable and file for bankruptcy. Here are 10 celebs who lost all their millions.
10. Mike Tyson
We all know Mike Tyson as the former undisputed heavyweight champion of the world who bit half of opponent Evander Hollyfield‘s ear off during a match. He also served 3 years of a 6 year sentence on a rape charge, and has had multiple run-ins with the law regarding his drug use.
Although he made around $300 million during his career in boxing, he wasn’t able to pay off his debts to the IRS and he filed for bankruptcy in 2003 citing $27 million worth of debt.
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