Riding the fame train to the top of the mountain is a precarious and bumpy ride. One wrong move and it all can come tumbling down in an instant.
To get a better idea of what I’m talking about, I’ve compiled 10+ super-rich celebs who ended up going broke.
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They say money talks but all that their fortunes ever managed to say was ” Goodbye .”
Burt Reynolds
In Burt Reynolds’ prime, he was making upwards of $10 million a year.
The Boogie Nights star was forced to file for bankruptcy in the early ’90s after getting into trouble with the IRS and was never able to completely recover.
Stephen Baldwin
Stephen got into serious tax trouble when he neglected to file his returns for three years. As a result, he was arrested and was nearly sent to jail.
All in all, Stephen has had close to a $500,000 in back-taxes wiped from his record.
Billy Joel
Over the course of his iconic career, Billy Joel has lost nearly his entire fortune to three ex-wives and poor financial planning.
He also was forced to sue his ex-brother-in-law/financial manager for misappropriating tens of millions of dollars worth of the Piano Man’s ever-dwindling fortune.
Aaron Carter
Aaron is the younger brother of former Backstreet Boys heartthrob, Nick Carter. At one time, Aaron also had a promising career in pop music.
But after several lengthy court battles, struggles with mental health , and neglecting to pay millions of dollars in back taxes — he was forced to file bankruptcy.
Kim Basinger
It’s one thing to invest in real estate, but to buy an entire town? That’s pushing it.
Kim Basinger’s real-life Schitt’s Creek experiment was purchased for $20 million . The ink had hardly dried before the once-illustrious actress filed for bankruptcy.
Sinbad
Most will probably recall Sinbad from his role as Myron Larabee in the cult classic Christmas film, Jingle All the Way .
When the acting roles dried up and the comedy clubs became scarce, Sinbad was forced to file bankruptcy not once — but twice .
Nicolas Cage
Nic Cage is nothing if not eccentric. He once spent millions at auction to procure a fossilized dinosaur skull, and at one time was the proud owner of Action Comics #1 (valued roughly at $2.4 million ).
In 2009, the IRS put a lien on his accounts for over $6 million.
Evander Holyfield
Evander Holyfield is a former Olympian, a 5X World Boxing Champion, and the only 4X Heavyweight World Champion to ever step inside the squared-circle.
Yet in spite of his many accolades, Evander has almost nothing left from his $300 million fortune.
Johnny Depp
Johnny Depp may not be completely broke (yet) but he’s well on his way.
In 2016, Johnny discovered that he’d lost $650 million in misappropriated wages. Not long afterward, the IRS informed him that he owed $100 million in back taxes.
Alyssa Milano
Three years ago, Alyssa and her husband filed a lawsuit against their former accountant, claiming that he misspent their money and left their credit in shambles .
Alyssa and her husband claim to have lost more than $10 million.
MC Hammer
You may not recognize the name, but I’d be willing to bet that there isn’t a person alive who hasn’t heard the song “U Can’t Touch This” at least once in their life.
Sadly, the IRS brought their hammer down and forced the one-time-hip-hop-mogul to pay $13 million in taxes back in 1996.
Wesley Snipes
Iconic roles in films like White Men Can’t Jump and Blade helped make Wesley Snipes one of the most popular actors of the ’90s.
He was fined $5 million for not paying his taxes and forced to serve 2.5 years jail time for tax evasion.
Mickey Rourke
Yet another bright star who had a tremendous fall from grace, Mickey Rourke’s tale is filled with heartbreak and anguish.
Once thought to be the next Marlon Brando, Mickey’s eventually found himself living in a one-bedroom apartment with three dogs for $500 a month .
Michael Jackson
Few stars’ legacies have become as tarnished as the late King of Pop’s.
At the time of Michael’s unfortunate passing, his estate was more than $400 million in debt. This was largely due to the construction and upkeep required for Jackson’s Neverland Ranch .
Mike Tyson
Iron Mike Tyson became the youngest Heavyweight Champion in the history of boxing when he won the title by knockout in 1987.
After racking up millions in debt due to legal struggles and frivolous spending, the former Champ filed for bankruptcy.
