Top ten bankrupt celebrities

Top ten bankrupt celebrities

Top ten bankrupt celebrities

We all consider the celebrities as being extremely rich and they usually really are, but some shocked the world by filing for bankruptcy. They all had a fortune and spent even more money than they could afford having just one more thing to do: to file for bankruptcy and start all over from square one.

Thanks to their celebrity most of them managed to pull it through. Let’s take look at the most famous bankrupt celebrities from the past two decades.

Michael Jackson – at the time of his death, Michael Jackson had a debt of over $260 million. His assets included seventy-five cars and the Neverland Ranch that has its own fire department, a zoo and an amusement park.

Mike Tyson – the former Heavyweight champion filed for bankruptcy in 2003. He spent the huge fortune of over $300 million earned in box on mansions, cars, limousines, motorcycles, jewelry, clothing, and even on Siberian tigers.

Kim Basinger – the Hollywood actress filed for bankruptcy in 1993. She previously bought the entire town of Braselton, Georgia for $20 million.

Donald Trump – the tycoon faced bankrupt two times, in 2004 and in 2009. In both cases his casino group Trump Entertainment Resorts Inc had debts larger than assets.

Burt Reynolds – having only $6 million assets and over $12 million debts, the actor declared bankruptcy in 1996. He had to sell his moustache at an auction to pay his debts but he kept his $2 million villa in Florida.

Willie Nelson – went bankrupt in 1990, owing to the IRS more than $16 million. He released a new album to pay his debts.

Lorenzo Lamas – having four ex-wives to pay alimony, a $200,000 private jet, a Harley-Davidson motorcycle and a H2 Hummer, the actor filed for bankruptcy in 2004.

Sinbad – the comedian filed for bankruptcy in 2009 with debs of over $8 million of which $2.5 million unpaid taxes for 2008.

Stephen Baldwin – the actor and his wife filed for bankruptcy in 2009 having more than $1 million in unpaid taxes, two mortgages of over $1.2 million on their house and $100,000 credit card debt.

MC Hammer – filed for bankruptcy in 1996 having more than $13 million in debts. He owned a mansion in California featuring a cinema, two tennis courts and a 17-car garage, a helicopter and several racehorses.

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