9 Celebrities Who Went Bankrupt

I ’m not certain which field is not better to get into in terms of possibly losing all of your cash: film stardom or sports. Granted many sportsmen and stars have issues that are little to no cash but you’d be surprised how many stupid moves a few of these people make.

The truth is, insolvency is considerably more common in regards to stars than you believe. Take a look at this list of 15 stars that have gone broke at one point or another. Make sure you click “ ” that is next to see each star!

1) MC Hammer

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$33 million was brought in by the flamboyant musician but immediately blew all his cash, helped in part by his purchase of two choppers that were private.

2) Michael Jackson

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Though he never filed insolvency, The King of Pop had a well-documented battle with debt. Sources say ten robot dogs were bought by Jackson on a whim with artificial intelligence.

3) Kim Basinger

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The celebrity supposedly paid $20 million to purchase a small town in Georgia. Basinger’s grand aspirations were thwarted four years after when she filed for bankruptcy.

4) Mark Twain

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The originator of Huckleberry Finn and Tom Sawyer saw his financing float up when he invested in some misguided the river, get-rich-quick schemes.

5) Mike Tyson

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Despite making more than $300 million as a professional fighter Tyson had to declare bankruptcy.

6) Willie Nelson

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The well-known singer songwriter filed insolvency after receiving a statement in the Internal Revenue Service topping $16 million for taxes that are outstanding.

7) Walt Disney

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Before he created the eponymous amusement firm, Disney had a few unsuccessful business ventures, driving him to file bankruptcy in 1923.

8) Nicolas Cage

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The infamously insane celebrity was charged with outstanding taxes. And that was only the taxes for the 2007 fiscal year.

9) Donald Trump

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Multi-billionaire Donald Trump has filed for 1992, corporate insolvency four times in 1991, 2004 and 2009. Nevertheless, he’s never filed for personal bankruptcy – which can be a crucial difference when considering his skill to emerge relatively unscathed, at least fiscally