These celebrities turned the tables after falling up to their necks in debt.
We often see mega-rich celebrities with theirs Villas, fashionable clothes and jet-setting walks with envy. The administration of the Finances For some who have made it to the top, it is not that easy to watch as their bank account slips through their fingers like sand.
Corresponding CNBC, he may be on his way to a comeback as his clothing brand Yeezy has grown into a billion dollar empire. The partnerships and negotiations with Adidas and Gap, to name just a few, give many hope to be able to say with certainty that West will be fine.
Other celebrities weren’t so lucky. Check out the list of celebrities who once had it all and are now struggling to pay the bills.
6th Nicolas Cage – Current Net worth: $ 25 million
Cage was once one of Hollywood’s biggest stars. the Disappeared in 60 seconds star had around $ 150 million in net worth in the late 1990s to early 2000s. However, large expenses result in large losses. Corresponding insider, Cage bought so many homes, cars, and rare items that it hurt his finances, and then, to make matters worse, he owed the IRS more than $ 6 million for failing to pay his taxes in 2007. Since then, Cage has sold many of these super rare artifacts, including a one-of-a-kind comic book, just to make ends meet.
5 Michael Jackson – Current Net worth: $ 7 million
The net worth of Michael Jackson has been contradicting itself over the years. At the time of his death, executors estimated his net worth at about $ 7 million, but the IRS said his net worth was closer to $ 1.2 billion. Strange … but what we do know for sure is that Jackson was in debt at the end of his life $ 400 million. With purchases like Neverland Ranch, his unmatched music catalog, and unpaid bills to lawyers, agents, and publicists, Jackson was in hot water. In fact, the final tour he announced shortly before his death was scheduled to help him get out of debt, but the superstar never made it on stage.
4th MC Hammer – Current Net Worth: $ 2 million
HIn the early 1990s he took the world by storm and today performed one of the most famous one-hit wonders. In 1991, Hammer’s net worth was about $ 33 million, but his savage spending on luxury vehicles, a 40,000-square-foot mansion, and more than 200 employees left the singer in debt totaling $ 13.7 million. Hammer filed for bankruptcy in 1996 Powered by Orange. Until 2011, he worked to regain his financial status by partnering with allegedly “eight tech companies”. He also took to the stage and toured in 2019 for these die-hard fans.
3 Burt Reynolds – Current Net Worth: $ 3 million
2 Willie Nelson – Current Net worth: $ 25 million
nArguably one of the most memorable singer / songwriters in history, Elson, and we all know how much he loves smoking marijuana, but money problems have plagued his career. In 1990 Nelson owed a staggering $ 16.7 million in federal taxes. After a lawyer cut his debt to $ 6 million, he still couldn’t pay and ended up losing everything. Corresponding Heavy.com, the government confiscated Nelson’s country club, recording studio, ranch, more than 20 other properties in four states, and most of its instruments, recordings, and memorabilia. In anticipation of the raid, Nelson hid his famous guitar trigger in his daughter’s house and eventually went away with it.
1 Charlie Sheen – Current Net Worth: $ 10 million
The 52 year old former bad boy from hollywood once earned $ 1.8 million per episode of Two and a half men but lost everything when he lost his temper. Corresponding Debt.com, Sheen has more than $ 12 million in debt, including mortgages, legal fees, and taxes. He owes $ 5 million to the IRS alone, and a lavish, overspending lifestyle resulted in American Express owed more than $ 300,000, but most of those millions, he admits, went to drinking, drugs and partying .
READ ON: Now infamous attorney Tom Girardi’s firm is over $ 100 million in debt
Sources: CNBC, Insider, Powered by Orange, Heavy.com, Debt.com
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