10 Celebs You Didn’t Know Have No Money Left
By
Sumaika Ghani in
Entertainment
On 29th August 2016
When you’re rich, you will get hundreds of phone calls each month from people asking you for money. Whether it be friends, family you haven’t seen in over a decade (or ever heard of), or even the IRS— people are going to want your cash once they find out you’re a millionaire. Celebrities have been going broke since currency was invented, and there’s no shortage of bad breaks and bad decisions made each year.
Celebrities go broke at a monumental rate for a lot of reasons. Divorce, not paying taxes, and bad investments lead the way (which comes as almost no surprise.) Nobody is safe, either. Celebrities that are loved, ones that are hated, those that seem smart and those that seem dumb— every single one of them is only one Papa John’s franchise away from going completely broke.
#1. Janice Dickinson
Ugh, we can't stand Janice Dickinson. The "world's first supermodel" is a trip, and just too much for us. She is too much for the courts, too. They are sick and tired of her accumulating debt and her horrible attitude. Dickinson owed thousands of dollars, including $300,000 to the City National Bank, where she hit overdraft on her financial accounts. She probably spent all of the money on plastic surgery and cosmetic procedures. Even so, Dickinson was given a serious break from the bank, which said that they would forgive her debt if she paid them $100,000. Dickinson said that she wouldn't do it, but her fiancee Robert Gerner would take care of it Do you hate this lady yet? She just expects everyone to do everything for her.give her bigger boobs, plumper lips, pay for her outrageous debt, call her a supermodel even though she's getting old as dirt
#2. 50 Cent
Last summer, rapper 50 Cent was forced to file for Chapter 11 bankruptcy and his debt was in excess of $32,000,000! According to court documents, 50 Cent's assets totalled between $10 and $50 million. Yet when it came to testifying under oath, the rapper said his net worth was just $4.4 million. Hmm. On top of that, 50 Cent owed $5 million to Rick Ross' girlfriend (Lastonia Leviston) for leaking her sex tape online. Creep. 50 Cent was also accused of stealing the design for his Sleek headphones and he was slammed with a lawsuit about that as well, in which the plaintiff called for $17.2 million from 50 Cent. The rapper's monthly expenses totalled $108,000, and he owed money to his personal trainer and hair stylist (he has a hair stylist?) In the end, the rapper ended up suing his own lawyers for $75 million.
#3. Pamela Anderson
You may think that hot babes like Pamela Anderson would be able to cling to their Baywatch beauty forever, but even this actress had to deal with getting older and broke. Unfortunately, Pam Anderson was spending very extravagantly and she only had a net worth of $4 million. Yes, $4 million is a lot of money, but not when you are throwing cash out the window like you have a never-ending stream of financial assets. With homes in Australia and California, plus several lavish sports cars, Anderson created a huge financial mess for herself. In 2009, Anderson was hit hard by the IRS with $1.7 million owed in taxes. Then in 2012, she owed $137,000 and was pushed even further into debt. Add to that her struggles with her divorce from Tommy Lee and her bout with Hepatitis C, and things were pretty grim for this ageing actress.
#4. Kim Basinger
Next on our list is Kim Basinger, who had a fruitful career in the 1980s and 1990s. However, her financial difficulties began in the early 1990s, when she was forced to sell the town of Braselton, Georgia, which she had bought for $20 million in 1989 That was five years of a wasted investment. Then in 1993, Basinger was punished by the courts for quitting her acting gig in Boxing Helena. That cost her an additional $8 million. After that, Basinger was pretty much forced to file for Chapter 11 bankruptcy. The result was a $3.8 million settlement, which still left the actress floundering. Let's not forget that this is the same year in which she married Alec Baldwin. Another super bad mistake, Kim! Their divorce was finalized in 2002, but it was riddled with custody battles and huge headaches and bad publicity.
#5. Lauryn Hill
She was one of the most pivotal black female recording artists back in the day, and yet Lauryn Hill ended up going the way of bankruptcy and some serious issues. Hill was slammed for tax evasion by the IRS, in which she owed nearly $2 million in back taxes from 2005 to 2007. Hill made an agreement to settle the debt and pay back the IRS, but she wasn't able to follow through, which angered the IRS even more. To help her make ends meet, she signed on with a record label and started recording new music. So, on top of having to deal with hundreds of thousands of dollars of debt and back taxes, Hill was faced with loads of criticism from court officials, the media, her fans, and just the general public. Her hope was to clinched the new record deal and get things back off the ground.
#6. Evander Holyfield
Professional sports and money seem to go hand in hand, and yet for Evander Holyfield, things took a nasty twist. The former boxing Olympian began his descent into the pits of financial hell little by little. First it was a payment here and there, and then more expenses kept being tacked on. Before he knew it, he found himself owes hundreds of thousands of dollars. This caused him to sell almost all of his assets and possessions, such as a mansion in Atlanta, Georgia worth $7.5 million, dozens of pairs of boxing gloves he wore throughout his successful career, and his Championship belts. It was sad to see those things go, but hey, someone has them now, and Holyfield was lucky that he had those kinds of items to auction off. It certainly helped to cover some of the costs of debt, including the $200,000 that he owed in back taxes.
#7. Chris Tucker
There was nothing funny about Chris Tucker's huge amount of debt. The comedian was in serious trouble for owing back taxes to the IRS from several years, and the amount totalled to over $14 million. Seven years of avoiding tax day finally caught up with him. Tucker was hit hard with an IRS lien and was pretty much forced to pay up. Even worse, the lien from the IRS added $2.5 million to the comedian's total debt payment. Ouch. And even though Tucker was close to reaching a settlement to pay off the debt, something that large would be an expensive and time-consuming endeavour, so there was still a whole lot to sludge through. What a headache. It look as though Chris Tucker will have to be doing comedy (really good comedy at that) for the rest of his life if he wants to clear things up. And that's no joke.
#8. Courtney Love
We all already know that Courtney Love is a hot mess, and one of the saddest celeb figures in Hollywood. When her husband and Nirvana frontman Kurt Cobain died, Courtney was left with their baby daughter Frances Bean and lots and lots of Nirvana assets. Love decided to spend most of that Nirvana fortune and spent about $27 million in total. According to Love, she ended up using the majority of that money on lawsuits and court appearances. Nice. What's worse is that Love didn't even feel bad about it. She stated that it was "Nirvana money, it's rock n roll, and I'm a big girl." Well, it must be nice to not give an ounce of care to spending millions of dollars. Love also said that getting hooked on cocaine helped her to learn how to budget. Wow, this just keeps getting worse.
#9. Lindsay Lohan
The 26-year-old "Liz and Dick" star has apparently agreed that she needs professional help but does not have the money to hire a psychiatrist as she is currently in debt.
"Lindsay is overwhelmed at the prospect of going back to jail and believes that a psychiatrist can help her through this trying time of her life. However, Lindsay has a huge problem, she can't afford to pay a good shrink because she literally has no money," a source said.
"Her health insurance would only pay about 20 per cent of the mental health bills, and the docs that she wants to see charge USD 250-USD 300 an hour," the source added.
The actress is swimming with debt so monstrous that even the IRS is after her, but according to her father, her management team has turned down more than USD 100,000 in job offers lately.
#10. MC Hammer
The guy behind "Can't Touch This" was yet another celeb who ended up super broke. MC Hammer rose to fame and success and riches and yet he managed to blow almost everything on stupid stuff. For example, the singer employed dozens upon dozens of personal assistants and escorts to do everything for him (the guy probably never lifted a finger) and he would pay them very generously. Sure, he was making tens of millions of dollars a year, but you still need to be wise with your money. Another reason for his bankruptcy debacle was $30 million mansion and his 19 thoroughbred horses. And when you have a mansion and a 17-car garage, you need to fill it, so Hammer had a private helicopter, luxury sports car, and a couple of limos. Add to that the lawsuits he dealt with and well, you can see why the guy is utterly broke.