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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
$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
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
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
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
Despite making more than $300 million as a professional fighter Tyson had to declare bankruptcy.
6) Willie Nelson
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
Before he created the eponymous amusement firm, Disney had a few unsuccessful business ventures, driving him to file bankruptcy in 1923.
8) Nicolas Cage
The infamously insane celebrity was charged with outstanding taxes. And that was only the taxes for the 2007 fiscal year.
9) Donald Trump
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
