Tori Spelling was basically born into a life of riches; since her late father, Aaron Spelling was a successful television producer. Tori Spelling is known for her popular role in Beverly Hills, 90210. However, when the show came to an end, Tori found herself struggling to find steady work. Even though Tori and her husband Dean McDermott had their own reality show- Tori and Dean were faced with many lawsuits from loans they weren’t able to pay off.
Who hasn’t seen at least one movie with Nicolas Cage in it? The National Treasure star spent his riches on many expensive things such as; a Gulfstream jet, his own private island, and exotic animals. He found himself in financial hot water, and he owed $14 million in back taxes to the IRS.
To make his situation worse, in 2009 he was faced with a $13 million lawsuit by his ex-wife. That same year, he was then sued by a real estate company for failing to pay back millions in loans. You may be seeing Cage again in some more upcoming movies, so he can pay off some debt.
Michael Jackson, also known as The King of Pop- was supposedly $400 million in debt when he unexpectedly died in 2009. His famous Neverland home was also very close to foreclosure.
Jackson was forced to take out loans, due to large amounts of spending- which was never paid back. Jackson was also involved in many expensive lawsuits, which only worsened his money situation.
Before Jackson had died, he had planned on touring to get out of debt. His estate resolved the financial problems, and Jackson has been the top-earning dead celebrity consecutively for five years.
Lisa Marie Presley
Lisa Marie Presley
You would think that the only child of Elvis Presley, Lisa Marie Presley, would be financially set for life- at one point in her life that was true. However, in February 2018, according to her divorce documents- she had to deal with $16.7 million worth of debt.
The debt was the result of a defaulted mortgage and the result of unpaid credit card payments. Lisa also ended up getting into an ugly feud with her financial manager, where she claimed that it was his fault she fell into the financial problems she was currently facing- due to his mismanagement and his negligence of her fortune. Lisa is now suing him for $100 million.
Floyd Mayweather Jr.
Mayweather, known as “Money”- has never lost a match in the boxing ring. However, Deadspin reported, that Mayweather has owed the IRS money for over a decade.
Mayweather is in about $22.2 million worth of debt to the IRS- even as he came out of retirement for a high-grossing fight. There are possible rumors that he may come out of retirement to settle his debts.
Rapper Tyga- also known as Kylie Jenner’s ex-boyfriend; has gotten himself in hot water over the past few years, both financially and legally. Tyga found himself in the middle of a lawsuit after three women who had appeared in a music video of his sued him after failing to edit out a part where they were seen undressed – even though he had promised, in 2012.
The next year, he owed $185,000 to an LA jeweler for both- a borrowed but never returned watch and an unpaid watch. He got into even deeper trouble, from 2015 to 2016- after he failed to pay rent to several landlords and caused damage to their property. Tyga’s Ferrari, Maybach, Bentley, and Lamborghini were all repossessed, by 2016.
Alec Baldwin’s younger brother, Stephen Baldwin- filed for bankruptcy in 2009, while owing money on taxes and a couple of mortgages. In 2017, Stephen’s house was also foreclosed after six years of no mortgage payments.
He also served five years’ probation for failing to pay taxes three years in a row.
Alexis Bellino is known for sharing her glamorous life on realty TV on The Real Housewives of Orange County. Alexis has been struggling financially for some years now, and in 2010, Alexis and her now ex-husband Jim Bellino defaulted on their $4.6 million mansion.
To make problems worse, Jim’s real estate company, Global Marine, Inc. had to file for bankruptcy the same year. Since Alexis’ split with Jim, she is now expected to receive $16,000 a month in spousal and child support following their divorce.
Lauryn Hill was an R&B and hip-hop music queen, in the late ’90s and early 2000s. Unfortunately, Hill has had some money troubles when it came to paying her taxes.
The singer decided not to pay her taxes making the claim that things like “manipulation” and “climate of hostility” disturbed her creativity, from 2005 to 2007. However, this resulted in her getting sentenced to three months in jail, and also Hill was ordered to pay the IRS $554,000.
Curtis “50 Cent” Jackson
Curtis “50 Cent” Jackson
50 cent aka Curtis Jackson, is one of the most famous rappers of the 2000s. He was a well-known rapper, he owned his own clothing line, and had several Grammy nominations.
Unfortunately, 50 cent was ordered to pay over $7 million to Lastonia Leviston after he released an adult video with her in it, without her approval, in 2009. He was also ordered to pay over $16 million to Sleek Audio after a business plan with the company fell through – ultimately forcing the once wealthy rapper into bankruptcy, in 2014.
Rupert Grint is known for his role in the Harry Potter movies. The Harry Potter franchise earned quite a hefty fortune. Unfortunately, as the other main characters of the franchise, Daniel Radcliffe and Emma Watson’s careers continued to flourish after their Harry Potter days began to end, Grint struggled to land steady roles.
After Grint had taken some poor accounting advice, he was forced to pay $1 million to the IRS, in 2016. He tried to appeal the order, but it was denied.
Chris Tucker starred in many hit films in the 2000s such as; Rush Hour, The Fifth Element, and Friday. At one point, throughout his highly successful career; he was named the highest-paid actor in Hollywood.
Due to some poor management of his finances, the IRS claimed that he owed $14 million in back taxes, in 2014. Luckily, Tucker was able to strike a deal to stay out of jail. However, he has no income coming in, as his last film was in 2016. It’s safe to say he isn’t living as glamorous of a life that he once lived.
Shad Gregory Moss, also known as Lil’ Bow Wow- was a very well- known rapper in the 2000s. However, his popularity started to dwindle- as did his savings. He was ordered to give his daughter’s mother $3,000 each month, but he claimed to only have $1,500 to his name, in 2012.
To make matters worse, an airline passenger called out the rapper on Twitter for posting a picture of a private jet on his Instagram account when really he was on a commercial flight, in 2017. Some of these celebrities are known to use services like Buzzoid’s automatic Instagram likes which sends likes instantly to their new uploads, but this sort of activity should always be backed by those who actually live the lifestyle.
You may know MC Hammer from his big hit “U Can’t Touch This.” Soon after the hit was released the rapper had $30 million in the bank- he went on a shopping spree, and declared bankruptcy while he was $13 million in debt, in 1996.
Before Hammer went broke, he bought a $1 million mansion, where he made $30 million worth of adjustments to, and he staffed 200 people in his home. He also bought a horse stable and he kept 19 racehorses.
With his numerous lawsuits and his unrestrained spending- it’s quite easy to see how Hammer quickly and easily fell into hot water with money problems.
Dennis Rodman was known as a teammate of Michael Jordan and a great rebounder. He was known for his short marriage with Carmen Electra, and also an unofficial US ambassador to North Korea.
Rodman’s lawyers said he could just barely afford living expenses and could not pay child support for his two kids, in 2012. At the time, he owed over $800,000 in back child support but claimed to be sick and broke.
Courtney Love is an actress and singer; however, she had her fair share of tax troubles. Courtney made several payments of hundreds of thousands of dollars to the IRS, and she also lost $27 million in legal fees, in 2012.
That may sound like a ton of money to most people, but Courtney had a fortune left to her by her husband Kurt Cobain. She may need to cut down some of her expenses, but we think she will be just fine.
With Toni Braxton being a Grammy winner, you would think her finances would be set- but that’s not always the case. Toni was reportedly only given $2,000 in royalties, yet she had sold millions of dollars worth of albums.
Toni had to declare insolvency, in 2010 and in 2013. She later starred in a reality show with her sisters; however, she admitted that she has to carefully watch her spending because she’s on a budget.
Kim Basinger is known as an Oscar winning actress and for her marriage (and divorce) to Alec Baldwin. Unfortunately, Kim has faced some financial problems.
Earlier in her career, when things were looking up for her, she bought a town in Georgia to start a tourism hub. Unfortunately, she backed out of starring in a film and she had to sell her part of the town- which had gone down in price from a whopping $20 million to $1 million. In 1983, she had to file for Bankruptcy.
In 1995, Kim settled with Main Line Pictures for dropping out of performing in the movie “Boxing Helena,” avoiding the initial $8.1 million judgment.
Kim was “living in three homes and spending $31,000 a month on pets, clothes, and an ex-husband [Alec Baldwin]” while failing to pay a maintenance company $8,100 for yard work on her Los Angeles home, in 1995.
Brendan Fraser is well-known for his many famous films. However, after he and his wife got a divorce in 2007, and his career began to sink, Fraser found himself deep in a financial situation.
Brendan found himself struggling so badly, that he petitioned the court to reduce his yearly spousal payments of $900,000 – claiming he didn’t have enough income coming in, in order to afford the amount, in 2013.
Who hasn’t heard of Mike Tyson? He has a net worth of $3 million, but that’s nothing compared to the $400 million he used to have. Unfortunately, he blew most of his money on things like glamorous parties, pet tigers, an expensive divorce, and golden bathrooms.
Tyson owed the IRS and lawyers, and not many people were pleased when he couldn’t pay up. Today, he is trying to keep his head above water; however, he isn’t able to maintain the lifestyle he once lived.
Marvin Gaye is known for his hits like “I Heard It Through the Grapevine” and “Let’s Get It On”. He earned quite the pay check for his big hits; however, he was quite the spender.
Gaye fell behind on alimony payments to his first wife, Anna Gordy Gaye; and he had to file for bankruptcy. A judge made Gaye pay his ex-wife $600,000 from royalties of his upcoming album, “Here, My Dear”, in 1976.
Gaye refused to follow through with the court-ordered payments, and claimed his expenses exceeded his income- yet he continued to excessively spend his money on glamorous things such as; boats, beachfront properties, and automobiles.
In 1981, Gaye moved to Europe to avoid pressure from the IRS. Sadly, in 1984- Gaye was shot and killed by his father, but at the time, Gaye still owed Anna $300,000 in back alimony.
Pamela Anderson is a well-known celebrity, and she proves that being famous and rich doesn’t mean you don’t have to pay taxes. Things went a little down-hill for her money wise, when she was caught owing hundreds of thousands of dollars in taxes.
This didn’t stop her from living the glamorous life she was used to, which means it apparently didn’t affect her too much. Her net worth is only thought to be between $8 and $15 million.
Tia Carrere is known for her role in the hit soap opera General Hospital, and her role in Wayne’s World. Her career began to really take off.
Unfortunately, Tia tried to get out of her General Hospital contract so that she could take on a role in the movie The A-Team. Tia claimed that General Hospital just wasn’t paying her enough and she filed a lawsuit. Tia lost the lawsuit; which ultimately shot her chance down at becoming a rich star.
Abby Lee Miller
Abby Lee Miller
Abby Lee Miller is known for her dance teaching skills on the hit show Dance Moms. She is also known for her highly publicized legal problems. Abby was caught hiding $775,000 worth of earnings as she was trying to file for bankruptcy.
Abby served a jail sentence, but she had to be transferred to a hospital after being diagnosed with lymphoma. She is now trying to make a comeback, with a $2 million net worth and Dance Moms season 8.
LeAnn Rimes is known as a country music star, she has also been the talk of the town in the music industry. She is still living a glamorous life, even though things have died down when it comes to her.
The only issue with this is that her husband, Eddie Cibrian- isn’t exactly bringing in the big bucks- causing money to be tight, since he isn’t exactly the world’s highest earning actor. LeAnn is working on getting things back on track with her Christmas music and Hallmark films.
Jon and Kate Gosselin
Jon and Kate Gosselin
Jon and Kate Gosselin starred in their own reality TV show Jon and Kate plus 8. Unfortunately, the couple broke up after Jon allegedly cheated on Kate with their nanny.
This situation caused the cancellation of the show and a very rough divorce. The couple reportedly used to make approximately $75,000 per episode; however, they seemed to have blown right through it while trying to take care of their large family.
Most people have heard of Willie Nelson, even if you’re not a country music fan. Since Willie has been making music since 1956- you’d think he has quite the stash of money piled up. However, he ended up with a $16.7 million tax bill, when he got into trouble with the IRS.
Willie got lucky with a talented lawyer and an album named ‘The IRS Tapes: Who’ll Buy My Memories?’ Willie eventually was able to get out of debt; however, he doesn’t live the glamorous life he once did.
Cyndi Lauper is known as a music icon in the 1980s with hits like ‘Girls Just Want to Have Fun.’ However, Cyndi found herself having to declare bankruptcy after her first band broke up.
Cyndi eventually had to start waiting tables and had to perform in bars, just to earn a living. She may be doing better now- but it was difficult to understand how such a big star, could end up in that much debt.
A model that made a name for herself as one of the world’s biggest supermodels, is Janice Dickinson. Unfortunately, the moment she became addicted to plastic surgery, is when everything went downhill.
It came to light that she had over $1 million in debt, which most were unpaid plastic surgery bills, in 2014. Janice had to file for bankruptcy and ended up with hardly a cent to her name.
Don Johnson is known for his role as playing Sonny in the hit TV series, Miami Vice. Things took a horrible turn in 2002, when he was accused of money laundering.
He almost lost his Colorado home to foreclosure, in 2008. However, he somehow found the $14.5 million to pay back the debt before it went to auction. With the amount of financial setbacks that Don had to face, people are still unsure of his net worth.
Curt Schilling is known as a successful pitcher, who broke the Red Sox’ World Series drought. In Curt’s post-playing days, he created a videogame studio so he could turn one of his hobbies into a business.
Curt put $50 million into 38 Studios and managed to secure $75 million in bonds from the state of Rhode Island. Unfortunately, Curt’s business failed, and he was asked to pay back 2.5 million to Rhode Island even though he had blown through all of his savings and his company was $120 million in debt.
Burt Reynolds is a well-known movie star. However, he fell deep into debt. Reynolds told Vanity Fair, “I’ve lost more money than is possible because I just haven’t watched it.” Starting with two bad ventures into chain restaurants in the ‘80s, he had a continuous line of failed investments.
Meanwhile, Reynolds was spending very heavily on a private jet, 150 horses, real estate, and over $100,000 in toupees. Reynolds experienced a costly divorce with his now ex-wife, Loni Anderson.
Due to his dwindling income and large costs, Reynolds wasn’t able to pay back a $3.7 million loan to CBS and, in 1996; he declared bankruptcy while he was $11.2 million in debt.
Who could ever forget Vanilla Ice’s ‘90’s hit ‘Ice Ice Baby.’ He may still be bringing in the big bucks in royalties for his TV appearances and his music, but it’s not enough.
According to reports, Vanilla Ice has been trying to avoid paying his ex-wife the money he owes her. A judge had to eventually step in, and forced Vanilla Ice to pay hundreds of thousands of dollars in unpaid fees to his ex-wife, Laura.
Mike “The Situation” Sorrentino
Mike “The Situation” Sorrentino
Mike Sorentino, also known as “The Situation”, was on a hit realty show Jersey Show. Everyone looked to Mike as a monster of a celebrity, and they even roasted him on Comedy Central.
However, he made some questionable decisions, like not paying taxes on his $8.9 million income, and he was sent to jail.
Aaron Carter is known for his hit singles in the 90s like “I Want Candy” and “How I Beat Shaq.” Aaron was also known as the younger brother to teen heart throb, Nick Carter of the Backstreet Boys.
Unfortunately, Aaron ended up getting into some hot water when it came to money problems- when he failed to pay his taxes. Recently, he appeared as a contestant on Dancing With The Stars, but he’s not even close to being as famous as he once was in the past.
Joey Lawrence was a 90s star, and he could be seen on things such as; Melissa and Joey, Blossom, and Brotherly Love. Joey unfortunately ended up facing some financial problems.
In 2017, Joey filed for insolvency. It’s been said that he and his wife only had $8,000 in the bank. To make ends meet, they were forced to sell various household appliances, and clothing on eBay.
In the late ‘70s, Meatloaf was a huge success- starring in “Rocky Horror Picture Show” and releasing his hit album “Bat Out of Hell.” But the ‘80s were less than friendly to Meat loaf.
Meat Loaf discussed with Guardian: “I had 45 lawsuits totaling $80 million thrown at me, it was a game. And the only way to stop them playing their game was to declare a chapter 11 bankruptcy. Because every time we’d get one case dismissed, they’d throw another one at me. And everybody thinks I had all this money but I didn’t, because CBS did not pay my royalties until 1997.”
He luckily was able to turn things around in the ’90s. As Meatloaf would say, being successful in two out of three decades “Ain’t bad.”
Wesley Snipes is known for his hit movies such as; Demolition Man, New Jack City, and Blade. His financial situation unfortunately became a mess.
After willingly filing false tax returns, he was faced with harsh law decrees, which landed him in jail for three years. He owed the IRS up to $17.5 million in taxes, even after he got out.
Amanda Bynes was a child star on Nickelodeon, and she starred in things like All That, What A Girl Wants, and the Amanda Show.
Her fame grew over the years, but she unfortunately dealt with several mental issues, like problems with illicit substances. Amanda fell off the map, and she isn’t receiving the kind of paycheck or living the type of lifestyle she once did.
Heidi Montag and her now husband, Spencer- served some drama on the iconic reality TV show The Hills. They both made some decent money doing this show, throughout the years.
The show ended in 2010, and since then things became less extravagant for Heidi. She tried her hardest to stay in the spotlight for as long as possible, like joining Celebrity Big Brother. When she disappeared out of the spotlight- they both no longer are able to splurge like they once could.
With how popular Game of Thrones is, you would think all of the stars would be rolling in cash- and actually that isn’t the case. Lena Headey is a successful star, but she’s not as rich as you may think.
Lena had to face a very messy divorce and during a custody battle, she found herself in a lot of debt. She had to sell her home, and even considered participating in reality shows just so she can pay the bills.
Suzanne Somers is a well-known cult star from the ‘70s, and you may remember her from the hit sitcom Three’s Company. Suzanne only starred in the show for a year, but she quickly became a fan favorite.
She breached the contract when leaving in protest, because she wanted more money. Suzanne found herself struggling to pay legal bills, and getting new offers in the industry with her tainted reputation.
Wayne Newton is also known as “Mr Las Vegas”. He is Las Vegas’ most famous entertainer, yet he’s actually broke.
Wayne has worked in the entertainment capital for decades, but he has been struggling financially for almost just as long. He filed for bankruptcy due to an astounding $20 million in debt, back in 1992.
Wayne made his way out of debt, but his money issues didn’t stop there. The IRS sued him for failing to pay $1.8 million on the sale of a house, in 2005. In 2010, Wayne’s property was seized for failing to pay off a $3.35 million loan.
Drake Bell is another child star that wasn’t able to continue to roll around in cash, after his hit show Drake and Josh ended. After it ended, we don’t really hear much of him anymore.
Once the TV show ended, he decided to focus on his music- but it never went viral. In 2014, he wasn’t able to keep up with payments on a house he bought seven years prior, and it was forced into foreclosure.
Larry King is a successful TV-show host, who was known to make the big bucks.
Larry even won an Emmy for is work; however, he hasn’t been as financially lucky and in 1978, he had to file for bankruptcy. He is considered an icon for a reason, because he was able to bounce back.
Mischa Barton is the star of the successful hit teen-drama The O.C. Mischa left the series to pursue a serious career as a film actress; she realized that landing big blockbuster roles was harder than she thought. Mischa’s career began to dry up and so did her bank account.
Unfortunately, her financial problems are actually due to her manager mom defrauding her and taking out exceptionally large loans against her house.
Johnny Depp was once named the fifth highest paid Hollywood actor in 2016. The Pirates of the Caribbean star has been doing his fair share of spending over the years. He has spent millions on many things such as a failed record label and a 150-foot yacht.
Johnny claimed his financial drama was due to his former business managers, who he believed made unwise decisions behind his back, in 2017. In return, his managers counter-sued the actor. Today, it is said that the movie star is $40 million deep in debt.
Tila Tequila is known for her MTV dating show A Shot at Love with Tila Tequila, back in the 2000s. At the time, she was earning quite a fortune for her hit series; however, once it came to an end, she continued to spend freely, eventually getting herself into a bit of a financial drought.
She pleaded to her fans on Twitter to help pay for her apartment’s rent, even posting a link to her own GoFundMe page, in 2016.
Lindsay Lohan was once one of the most sought-after actresses of Hollywood. She somehow made her way from a child actor to an adult star. She was in many films like Mean Girls and Freaky Friday. But as Lindsay got older, she started to get into several legal mishaps, and her career began to tank.
After many attempts to restart her career, her net worth is still a few million short of what it used to be.
Ulysses S. Grant
It truly is difficult to imagine a president going broke after leaving the White House, but that’s exactly what had happened to Civil War General Ulysses S. Grant.
He became a partner in financial firm Grant and Ward, but Ferdinand Ward embezzled investors’ money, leaving the firm and Grant bankrupt in 1884. Grant was receiving a military pension, but unfortunately it was not enough- since the president was suffering from throat cancer.
In order to have a stream of income come in, Grant had Mark Twain publish his memoirs, but he died before he could make any money from it.
Mark Twain is an American author who grew up poor after his father died when he just was 11 years old. Twain just wanted to become rich, and even though he married up on the social ladder, his dream sadly never came true.
After the success of Grant’s biography and “The Adventures of Tom Sawyer,” Twain’s publishing house unfortunately had to file for bankruptcy. His financial failings contributed to depression and, in 1894, he declared bankruptcy.
With a popular speaking tour and more successful writing- Twain got back on his feet financially, but he then lost a $30,000 investment with protein powder.
Gary Coleman was a childhood star known for his role in “Diff’rent Strokes” and “What you talkin’ ’bout Willis?” He was 18 but his adopted parents had taken ownership of all of his earning.
In 1986, Coleman’s hit sitcom ended, but he had trouble finding other work in Hollywood. Coleman eventually won a settlement against his parents, but that was not enough to avoid bankruptcy in 1999.
After bad investments and lawyers’ fees, the diminutive Coleman had to work as a security guard. At the time, he only had $100 in cash.