What did they do with their fortunes, we don’t know, but here are 8 Celebrities Who Went Bankrupt
If you thought bankruptcy is a trouble soup that only the common folks can taste then you really need to read this article. There have been famous celebs who have lost all their money at rocket speed. Once you are famous people come to you and call you for money; family, friends, and acquaintances, simply everyone. After all, a high profile celeb is a millionaire with a future of gold. But this is not always the case! It is a faux pas to take everything for granted. People may take some decisions which take a toll on their on their bank balances and celebs too have had their share of bad debts that they regretted all through their lives.
Be it poor financial management or financial woes, bad investments, divorces or tax failures, there have been celebs that shot to the heights of fame at monumental speed and then came crashing down back on earth. So, let’s take a look of these 8 famous celebrities who went bankrupt.
1 Michael Jackson
Michael Jackson tops our list of bankrupt celebs primarily for his massive success as a musical sensation following which there came a career drop for him, mainly because of his controversial nature.His star status was such that the world went crazy over his songs and dance moves and he even got his name to appear in the Guinness Book of World Records as the Most Successful Entertainer.We can only imagine what might have gone wrong with someone, who once had a mansion that needed $ 10 million yearly maintenance could not pay back his loan of $ 25 million for Neverland Ranch. Ultimately, he declared bankruptcy in 2007.