7. Broke: Toni Braxton Didn’t Make Bank Off Her Royalties
Singer Toni Braxton might be one of the most memorable musicians of the 1990s, but unfortunately Braxton has run into more than her fair share of financial problems over the course of her career. She has actually filed for bankruptcy twice despite making millions off of her music. Toni admitted that she had problems managing her money and had pretty expensive taste. However, she says that a lot of her financial issues stemmed from the fact that she simply wasn’t making very much money off of her success because the royalties she was getting from her album sales were surprisingly low. Braxton made a bit of an entertainment industry comeback with a reality show focusing on her and her family called Braxton Family Values, and she recently announced that she’s planning a new album and tour for the first time in a long time, but it’s not clear that her earlier financial woes are totally behind her.
8. Broke: Courtney Love Has Burned Through Most Of Her Inheritance
Courtney Love has never seemed like the most stable or reliable person working in the entertainment industry. However, as Nirvana frontman Kurt Cobain’s widow as well as an established and successful musician in her own right you’d think that money wouldn’t be much of a concern for Miss Love. However, Courtney herself admits that she has lost nearly $30 million dollars of the money that she inherited from Nirvana payouts, which she claimed was mostly spent on settling lawsuits. In a bizarre and nearly unbelievable admission, though, Courtney said that she abused illegal substances because she believed that they made her better at managing her money, which would probably be a first for substance abusing stars. But regardless of the reason, it’s still really not a good sign that a middle-aged woman still has so little control over her money output that she could burn through the majority of her own inheritance.
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