Celebs you NEVER knew were actually flat broke – When celebrities hit it big, they hit it really big. Like most working folks, they rely on their talents for their monthly paychecks. They’re just like the rest of us in this regard, but when their royalty checks and salaries amount to more than what a typical working man makes in 10 lifetimes, then they don’t seem pretty ordinary after all.
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Being celebrities with fat wallets however doesn’t make them immune to the pitfalls of being financially reckless. In fact, those who are thrust into the spotlight and are paid extremely well for it are most of the time the ones who are prone to have financial troubles. These financial worries amount somewhere between hundreds of thousands to a whopping few million dollars in debt.
Debt is one cancerous thing to have on your finances, especially when you’re not doing too well. There are many forms and many sources of debt. If you’re wise, you’ll learn about them and avoid them like the plague. For those who are unfortunate enough to be overwhelmed by the looming debt they have incurred in the course of their careers, bankruptcy seems to always be an option. During desperate times, celebrities, both young and old, turn to bankruptcy as a sort of lifesaver that would allow them enough breathing room to reorganize their finances. Here are 12 stars you may not have known are broke
12. Mike Tyson
In his prime, Iron Mike Tyson could pulverize his strongest opponents with just a single solid punch to the face. Even when he was still an amateur fighting in the Junior Olympics, his power punch could knockout his opponents with ease. He honed this talent to perfection in his professional career as proven by his professional record of having 44 wins by KO. For his glorious fighting record, Tyson took home over $400 million dollars. Along with unmitigated spending on jewelry, cars, bikes and mansions, Tyson also needs to pay off child support, the IRS and the British tax authorities. He recently made a sort of comeback into the public’s eye with his Hangover cameos. Maybe his new Hollywood career will help him up from his financial knockout.
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