5 R. Kelly
R. Kelly may be responsible for his own downfall, but it seems to be a pretty normal thing for people who suddenly make tons of money. They love to go spend it all without realizing that they still have to pay taxes and still have to pay utilities for their house.
Kelly used to be worth $150 million. So, spending $3.5 million on building a house isn’t actually all that much. It seems reasonable. Until tax season comes around and thanks to bad practises, the tax man forecloses the house on you. R. Kelly tried to sell the place on the quiet for a measly $1.6 million and ended up making less than $1 million on it…for a house that cost him $3.5 million to build. There is a very lucky person out there right now with a really sweet house, and that lucky person is not R. Kelly.
4 Nas
It seems to be the rapper thing to do to buy an enormous house and then just not pay for it for the however long they manage to own it until the tax man comes to collect. That’s exactly what Nas did when he bought his Georgia home that was complete with a movie theatre, a gym, and a games room. He took out a mortgage for a $585,000 house, but he only paid $80,000 on that.
As you can well imagine, the tax man pretty quickly put a stop to that and foreclosed the property. They then auctioned off the place and ended up making less than $350,000 from it. Of course, the bank doesn’t really care what the place makes at the end of the day because Nas still has to pay whatever else is owed, and he has to do so without a house.
3 Marvin Gaye
Marvin Gaye did not have the most enjoyable life, nor did he have a long enough life in my opinion. He could have spent many more years singing wonderful music and making a comeback but his father saw to it that that didn’t happen when he took his life back in 1984.
Before that though, Gaye was on top of the world and had everything he could have ever asked for. Unfortunately, due to an awful divorce, a bunch of issues with the IRS, and a pretty heavy substance problem, he pretty much lost everything. And when I say everything, I mean he ended up living in a van in Hawaii. Now, that does sound kind of awesome to me. At least it would always be warm, but if you just came from a life of luxury, I’m sure that’s a real kick in the pants.
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