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From Boom to Bust: We Reveal the Celebrities You (Probably) Never Knew Have Gone Bankrupt — From Music Icons to Actors and World's Biggest Film Director

Split photo of celebrities who went bankrupt.
Source: MEGA

These renowned celebrities faced bankruptcies amid their successful careers in Hollywood, and some of them recovered from the loss.

Oct. 25 2024, Published 7:30 p.m. ET

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Abby Lee Miller

abby lee miller
Source: MEGA

Dance Moms star Miller filed for bankruptcy in 2010.

In 2010, Dance Moms star Abby Lee Miller filed for Chapter 11 bankruptcy, citing over $400,000 in unpaid real estate taxes on her Pittsburgh studio. The Internal Revenue Service and the Federal Bureau of Investigation later discovered she had concealed $775,000 of her income amid the bankruptcy proceedings.

Following the probe, Miller was charged with 20 counts of financial and customs fraud.

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Cyndi Lauper

cyndi lauper
Source: MEGA

Lauper's band was sued by their former manager in 1981, claiming they owed him $80,000.

In 1981, Cyndi Lauper and her band were sued by their former manager, who alleged they owed him $80,000 before they fired him. The Girls Just Want To Have Fun singer filed for bankruptcy as a response, and the court subsequently approved it.

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David Crosby

david crosby
Source: MEGA

Crospy found himself broke and filed for bankruptcy in 1984 after accumulating thousands in debt.

David Crosby enjoyed decades of fame before he died in 2023, but his life was also hit with dark moments due to his struggles with drug addiction and financial issues.

In 1984, Crosby found himself broke after accumulating thousands of dollars in debt to different people and agencies. He was forced to file for bankruptcy the following year.

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Don Johnson

don johnson
Source: MEGA

Johnson declared bankruptcy in 2004 after becoming one of the highest-paid stars of the 1980s.

Miami Vice alum Don Johnson went from being one of the highest-paid actors in the 1980s to a bankrupt star. He declared bankruptcy in 2004 to prevent an auction of his $20 million Colorado ranch.

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Drake Bell

drake bell
Source: MEGA

Nickelodeon alum Bell had $1.5million in debt and had to file for bankruptcy in 2014.

Drake Bell filed for bankruptcy in 2014. At the time, he claimed he had $1.5million in debt and was only making $2,820 a month, which was not enough to cover his $18,771 expenses.

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Francis Ford Coppola

francis ford coppola
Source: MEGA

Filmmaker Coppola filed twice in nine years, finding himself in a $71million debt.

Even one of the greatest filmmakers reached the point of bankruptcy.

The Godfather director Francis Ford Coppola submitted bankruptcy filing thrice in nine years, starting when he released One From the Heart in 1981. Aside from being a box office disaster, the film led to financial and legal issues that caused Coppola to have a $71million debt to Fred Roos.

He made the second filing and asked for Chapter 11 protection while making Bram Stroker's Dracula. The third filing was made in January 1990.

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Janice Dickinson

janice dickinson
Source: MEGA

Dickinson reportedly found herself with $1million in debt on top of thousands in unpaid taxes.

Ex-supermodel Janice Dickinson went broke despite her success in the industry, leading her to file for bankruptcy.

Dickinson told RadarOnline.com: "I had some trouble, so yes, it is true. I am upset and taking every step to pay everyone back and I feel terrible about it."

The former America's Next Top Model judge reportedly had a $1million debt on top of more than $500,000 in unpaid taxes.

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Kim Basinger

kim basinger
Source: MEGA

Basinger went broke after she was sued for over $8million.

Kim Basinger filed Chapter 11 in 1993 after Main Line Pictures sued her for more than $8million following her decision to sit out of Boxing Helena.

Basinger's then-lawyer, Howard Weitzman, said at that time: "She just didn't have the assets to satisfy this kind of outrageous award. As of today, her estate is now frozen."

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La Toya Jackson

la toya jackson
Source: MEGA

Jackson was sued for $650,000 after she allegedly broke her contract with the Moulin Rouge Club.

In 1995, La Toya Jackson filed for bankruptcy when the Moulin Rouge Club in Paris sued her for $650,000 after reportedly breaking her six-month contract with the company. She also re-filed the case in 2010 but was denied.

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Larry King

larry king
Source: MEGA

King accumulated over $350,000 in debt from gambling and went bankrupt in 1978.

One of Larry King's money issues emerged when he was charged with grand larceny for allegedly stealing $5,000 from Louis Wolfson before finding success in Hollywood. In 1978, he filed for bankruptcy as he could not pay over $350,000 in gambling debts he had.

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Mike Tyson

mike tyson
Source: MEGA

Tyson has maintained a $10million net worth since losing much of his money in 2004.

Mike Tyson lost all his earnings in 2003 due to his expensive lifestyle, filing for Chapter 11 bankruptcy protection in New York. He fortunately regained some of the amount, and he has constantly maintained his $10million net worth.

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PK and Dorit Kemsley

pk and dorit kemsley
Source: MEGA

The Housewives stars put their money struggles on blast during an episode of RHOBH.

PK and Dorit Kemsley's bankruptcy made headlines when the 48-year-old fashion designer had a heated argument with Camille Grammer in an episode of The Real Housewives of Beverly Hills.

At that time, Camille said people wanted to know what she knew about PK's filing.

Dorit said: "My husband built a $2 billion business from zero. Let me finish, let me clear it up for you."

"In 2008, his business went bust, he claimed bankruptcy much like many many successful men. What does that have to do with today? This is 10 years ago. What are you talking about?"

Camille alleged PK still owed a lot of money to someone very close to her, which Dorit dismissed.

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Sonja Morgan

sonja morgan
Source: MEGA

The RHONY star accumulated $19.8million in debt in 2010.

In 2010, Sonja Morgan filed for Chapter 11 bankruptcy as she reportedly had $19.8million in debts but only $13.5million in assets.

She declared after the case ended: "It's over now. It's come to an end. The $9million-plus is all there. It was a $7 million judgment but with the administration fees, it was about another $2 million."

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Stan Lee

stan lee
Source: MEGA

Comic book writer Lee's company, Stan Lee Media, filed for bankruptcy protection in 2001.

Stan Lee founded Stan Lee Media Inc., which filed for bankruptcy protection in 2001 to maximize its value while seeking to sell the online media company. The decision came after its co-founder Peter Paul and corporate officer Stephan Gordon got involved in an alleged multimillion stock manipulation scheme.

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Teresa and Joe Giudice

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teresa and joe giudice
Source: MEGA

The RHONJ stars owed more than $10million when filing for bankruptcy in 2009.

Teresa and Joe Giudice claimed in their 2009 bankruptcy filing they owed creditors more than $1 million — $104,000 of which was for credit cards and $85,000 was for home repairs.

The estranged couple's scheme seemingly hit them when they got slapped with conspiracy to defraud lenders and illegally obtain mortgages and other loans in 2013. They also allegedly hid assets and income when they launched the case.

Teresa said: "I support Joe and, as a wonderful husband and father, I know he wants only the best for our lovely daughters and me."

"I am committed to my family and intend to maintain our lives in the best way possible, which includes continuing my career. As a result, I am hopeful that we will resolve this matter with the Government as quickly as possible."

Joe was convicted of bankruptcy fraud and failure to file income tax returns in March 2016.

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Todd Chrisley

todd chrisley
Source: MEGA

Reality star Chrisley allegedly found himself with a nearly $50million debt.

Todd Chrisley declared bankruptcy in 2012 due to his alleged $49.5million debt. Despite his filing, he and Julie Chrisley constantly flaunted their extravagant lifestyle in their reality TV show, Chrisley Knows Best.

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Toni Braxton

toni braxton
Source: MEGA

Braxton owed her creditors 'tens of millions of dollars' at the peak of her fame.

Toni Braxton went through ups and downs in her career after her debut.

She disclosed she owed her creditors tens of millions of dollars at the apex of her popularity, forcing her to file for Chapter 7 bankruptcy in January 1998.

In 2010, Braxton submitted a filing for the second time, claiming she owed between $10 million and $50 million in unpaid bills.

Her lawyer, Debra Grassgreen, said: "After months of trying to work out an acceptable arrangement with her principal creditors, she determined that the only way to assure that she could meet her tax obligations and provide for her two small children was to commence these bankruptcy cases."

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Wayne Newton

wayne newton
Source: MEGA

Newton owed more than $20million in debt back in 1992.

Wayne Newton filed for Chapter 11 bankruptcy in 1992 after having more than $20million in debt. His attorney at the time, Gerald Gordon, confirmed Newton's desire for reorganization amid his financial woes.

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Willie Nelson

willie nelson
Source: MEGA

Nelson owed the IRS over $30million in income taxes but refused to file for bankruptcy.

Willie Nelson lost everything when the government seized his property and closed his studio in the 1990s. At the time, he discovered he owed the IRS $32million in income taxes.

Despite that, he refused to file for bankruptcy.

He said: "It's very important to think positive. More important probably is knowing that a negative thought will release poison into your system and will eventually kill you if you keep doing it."

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