Most people do think that their favorite movie stars, athletes, music stars always earn millions and living a grand and wealthy life as portrayed in their acts or on the scene but do we really know many of them went broke at some point due to their luxury living through exorbitant expenses and unexpected situations.
Here are 7 of them going bankrupt after their fame;
7 Celebrities Who Went Bankrupt After Their Fame
1. Mike Tyson:
He is an American former boxer who competed from 1985 to 2003 due to his championship in heavyweight boxing, he is popularly called Iron Mike and others too refer to him as Kid Dynamite.
In his career, the super heavyweight ex-champion has earned over $ 400 million in his career but unfortunately, in 2003, Mike Tyson declared himself bankrupt due to his lucrative and careless spending which included buying expensive mansions, cars, and other luxuries.
2. Toni Braxton:
Toni is an American songwriter, singer, pianist, and actress who has sold over a 70million records worldwide. She is rank one of the best highest-selling female R& B artists in history.
She has declared herself bankrupt twice which the first one was in 1998 when she signed an extremely unsuccessful contract with LaFace Records and the second was in 2010 after she was diagnosed with lupus which made her cancel an expensive show supposed to be held in Las Vegas this made her debts amounted to $50 million.
3. Nicolas Cage:
The American actor and filmmaker Cage who began his career with The Best Times in 1981 and was also nominated for numerous major cinematic awards earned over $150 million from 1996 to 2011 this would seem like a set for a beautiful future but it turns out the other way.
In his early, Cage got himself the pretty of life by attaining a mansion and got a private Island, Jet planes, Yachts, and many other luxurious kinds of stuff.
This act leads him to be caught up in debt and at the same time causes him to sell his property and take all kinds of crappy roles that really affected his career in the long run.
4. Pamela Anderson:
She came to public prominence in February 1990 after being selected as the Playmate of the Month for Playboy magazine, with this, Anderson went on to frequently appear on the magazine’s cover and she is known all over the world.
Unfortunately, at this time, not even her paycheck can cover some of the house renovations she ordered due to her been bankrupt. Early, Pamela went into a serious conflict with a construction firm that billed her $ 3 million for renovating her five-bedroom mansion in Malibu.
This seems way too much for the actress. This leads her to live in a trailer near her home and also file for bankruptcy.
5. Wesley Snipes:
Tax evasion is considered very offensive in America as this can sound new to many of us but very true. The American actor Wesley Snipes who is known as one of the highest-paid actors of the 90s even cannot escape the punishment that comes with tax evasion as he was jailed three consecutive times after skimping out on his fees and not paying taxes totaling to $12 million.
This actually led him down to the pull-down in his wealth.
6. Lena Headey:
The English actress gained international recognition and acclaim for her one-of-a-kind performance due to her portrayal of Cersei Lannister on the HBO epic fantasy drama series Game of Thrones which also made her earn and nominated for prestigious awards such as Primetime Emmy and Golden Globe.
She started her acting during the early 1990s and quickly became one of the most popular actresses in the world. In her early 2000s, she was able to earn over $100k for her role in films and television series. Lena was so successful due to both her acting and work as an activist and philanthropist.
But Lena’s treasury hasn’t always been full in real life as portrayed in her roles she lost everything she had to her name in just one day, what a bit of bad luck for her. Lena was left with an amount of $ 5k in her bank account as a result of her scandalous divorce from her husband. This even led her to sell a mansion in the Hollywood Hills to get enough money for food and stuff.
7. MC Hammer:
Stanley Kirk Burrell professionally known as MC Hammer is an American rapper and record producer also an entrepreneur who had his greatest commercial success and popularity from the late 1980s till the early 1990s.
All thanks to his Multigenerational single release “U Can’t Touch This”, he became very popular and made approximately, $33 million for himself.
The sense of his being a renowned millionaire triggered him without thinking twice about buying fancy cars, expensive Yachts, iconic pants, and record companies.
Coming to his house, it could easily be called a kings’ palace due to its fancy, it had a garage of 17 vehicles just as any rich king would have. Unfortunately, for the singer, he was discovered $14 million in debt, wow, and sadly became part with all this when it was discovered that time.