With fame comes Power and of course Money. When you are rich, everyone wants to be around you and when you are broke, people find reasons and ignore you. And this is something which is applicable to everyone, including Hollywood celebs. What do you think are the reasons why Celebs get broke? Bad investments, taxes or may be divorce, yes, these are few reasons why celebs go broke. Here is a list of 7 Hollywood Celebs who are actually broke. Well, there are many celebs who are broke, but here is this exhaustive list of 7 of them.
Do you remember Pamela Anderson? Of course, you do. Who can forget her “Baywatch”?To add on to her intro, she is also known as the ex-wife of both Tommy Lee and Kid Rock. You might also remember her for her appearance in Playboy.
She has spent an enormous amount on her plastic surgery and more than $1 million to design her house. She was questioned by the IRS as she wasn’t paying her taxes. She spent a lot of money to design her house and unfortunately had to sell it as she got bankrupt.
Is Brendan Fraser broke? Well, yes. You might see him in movies and TV shows from time to time, but still, the situation is something else. There was a time when he was earning somewhere around $2 million a year, but unfortunately, the pace with which he was spending this money was faster than he could earn.
Fraser was supposed to pay $75,000 each month for child support on the basis of his previous salary, which has caused him to lose almost all of his net worth.
Michael Jackson was one of the most successful entertainers in the history of pop culture, but he went bankrupt because of his spending habits. He had spent a hell lot of money on plastic surgery and on a little property of Neverland Ranch.
The place was cool, but it required $10 million per year as a maintenance because it had a small amusement park located inside of the estate. Jackson had to take out an enormous loan to maintain Neverland Ranch, but could no longer afford to keep up on payments.
I am sure everyone remembers the cute child actor from the successful “Diff’rent Strokes” in the 1980’s. That show gave him $8 million, yes, that was the amount. Unfortunately, he wasn’t allowed to use it until he turned 18.
Coleman’s parents completely screwed everything for him. They spent most of his money. I mean that’s weird. That’s helluva amount to be spent.
She had an amazing start to her career. But gradually her career derailed and she developed a drug and partying habit, which eventually became an addiction.
She wasn’t getting much of the acting assignments and she eventually went bankrupt in 2012. She actually owed nearly a quarter million, because of which the IRS put a stop to all of her assets.
Almost everyone knows who Marvin Gaye is, but you might not know that he was one of the biggest musical acts for a while. Gaye actually became a millionaire. But like other celebs his speed of spending the money was far too fast than that of earning it. Eventually he went broke.
He declared bankruptcy and he could not become financially strong.
Willie Nelson wasn’t broke initially. However, between 1990 and 1993, Nelson was in deep trouble financially. This pot smoking star owed $16 million to the IRS and went completely bankrupt.
Well, he actually killed his bankruptcy when his album, “The IRS Tapes: Who’ll Buy My Memories” released. He was able to pay off all of his debt in just that three-year span.