Fame And Sinking Fortune! 55 Stars Who've Lost It All
Pamela Anderson: In 2012, it was reported that the former Baywatch star was drowning in debt, allegedly owing $1.1 million to various construction companies for remodeling work on her Malibu home as well as back state taxes. And in February 2013, the New York Daily News reported that Pam had to put the beloved eco-friendly Malibu house up for sale for $7.75 million to keep herself afloat.
Charlie Sheen and Lindsay Lohan
Lindsay Lohan: The IRS allegedly froze the troubled actress’ accounts last year because she owes $234,000 in unpaid taxes from 2009 and 2010 -- and may also owe money for 2011. The now rehabbing Lindsay’s financial affairs are in such a bad state that her Scary Movie 5 co-star, Charlie Sheen, gave her $100,000 so she could start paying back Uncle Sam.
Evander Holyfield: The boxing great has been knocked out by financial problems, including divorce settlements and child support payments for at least 9 kids. And last year, Holyfield’s Atlanta mansion reportedly went into foreclosure because of his inability to pay back more than $14 million he owed the financial firm JP Morgan Chase.
Terrell Owens: The ex-NFL wide receiver blew through almost $70million and wound up broke! Terrell faced mind-boggling mortgage bills and child support payments to four different women. And this February, the IRS filed a lien against him for more than $438,000.
Wesley Snipes: In 2006, the Blade actor was charged with not only failing to pay his taxes, but for filing multiple fake tax returns when he did. He served three years in prison, getting released earlier this year.
Chris Tucker: Incredibly, the Rush Hour star joked about his massive $11.5 million IRS debt two years ago. “That’s the last time I let Wesley Snipes help me out with my taxes,” Tucker laughed about the star who went to prison for being a tax cheat. But the Silver Linings Playbook actor has recently gotten serious about satisfying the taxman himself, reportedly paying back almost a million on his debt.
Randy Quaid: The Independence Day actor and his wife Evi were forced to file for Chapter 11 in 2000 after their movie, ironically titled The Debtors, bombed. After a rash of bizarre legal problems—including being arrested for allegedly defrauding an innkeeper—the couple fled to Canada. This January, Canadian immigration officials denied Randy's request for permanent resident status there (Evi was declared a Canadian citizen.) Randy is now appealing the decision in Canada’s federal court.
Larry King: The former CNN talk show host was almost ruined by scandal when his former business partner, Wall Street financier Louis Wolfson, accused him of stealing money. The claim forced King to file for bankruptcy in 1978, but he became wealthy again thanks to some smart financial planning.
Toni Braxton: The songbird filed for bankruptcy protection for the second time in 2010 after lupus landed her in the hospital. Toni once listed her debts as high as $50 million to such companies as AT&T, Tiffany, and the Four Seasons. The IRS has hit her with multiple liens for unpaid taxes.
Erin Moran: The former Happy Days star periodically hits the headlines for being down and out, and she reportedly became homeless last year after being tossed out of a trailer park. However, TV’s Joanie has apparently gotten herself off the streets by living in a hotel.
Jose Canseco: The former baseball player, well known for admitting to steroid use, had to file for bankruptcy last July in Nevada. Jose’s bankruptcy petition listed less than $20,000 in assets and almost $1.7 million in liabilities, including more than $500,000 owed to the IRS.
Dionne Warwick: The famed “Say A Little Prayer” singer will need more than that to get out of debt! In March 2013, the legendary hit maker, 72, claimed in a federal court filing for bankruptcy that she owes $10.7 million, most of it for taxes.
Lauryn Hill: The singer will move into a prison cell on July 8th to being serving her 90-day sentence for tax evasion. The reclusive star had admitted she’d failed to pay taxes on about $1.8 million of earnings between 2005 and 2007.
Lena Headey: The Game of Thrones beauty claimed to a web site recently that she was hit so hard in her recent divorce that she only has $5 left in the bank. Lena is embroiled in a nasty divorce and custody battle with ex-husband Peter Loughran and said she’s battling him for her 2011 tax refund to cover basic living expenses.
Brendan Fraser: The Mummy star recently went to court in Connecticut, saying he is no longer able to pay ex-wife Afton Smith the $900,000 he owes her per year for child support and alimony. Brendan claimed he was injured after Hurricane Sandy when a tree fell on his back and he now can’t earn as much as he used to. The actor pled poverty to the court to get his payments reduced, with the decision still pending.
Nicolas Cage: The movie star who had reportedly earned more than $150 million in his career went broke by buying mansions, castles, jets, yachts, fleets of exotic cars, and other luxury items. Three years ago, Nic admitted to People magazine he owed $14 million in taxes and he vowed to pay it all back. The actor had to sell most of his possessions, including his prized Action Comic that marked the first appearance of Superman.
Michael Vick: The football quarterback saw his wealth disappear due to legal fees incurred after he was caught operating a dog fighting ring in2007. Vick reportedly also spent lavishly on family and friends. After spending 21 months in prison, he filed for bankruptcy in 2008.
Heidi Montag and Spencer Pratt
Heidi Montag and Spencer Pratt: The former The Hills villains recently made a bizarre admission—they blew through $10 million because they heard the planet was going to end in the so-called Mayan Apocalypse! “We thought, we have to spend this money before the asteroid hit,” Spencer told OK’s U.K. magazine. The reality TV couple started making money again with their Celebrity Big Brother stint in Britain this year.
Courtney Love: The rocker and widow of Nirvana singer/songwriter Kurt Cobain faced huge financial trouble and at one point said she had only$4,000 in the bank and had to live in a rented apartment with daughter Frances Bean. Courtney got out of debt in 2006 by selling 25 percent ownership of Nirvana’s music catalogue.
Kim Basinger: After buying the town of Braselton, Georgia for $20 million and losing an $8.1 million lawsuit for breach of contract when she pulled out of the controversial 1993 film Boxing Helena, Kim filed for bankruptcy. Kim had to sell her share of Braselton but won her appeal of the studio lawsuit judgment in 1994. However, the actress eventually settled the suit for $3.8 million.
Michael Jackson: The King of Pop made more than a billion in his career, but he spent $20 to $30 million more a year than he actually earned. After a 2005 child abuse lawsuit and trial drained him further financially, he filed for bankruptcy in 2007. Michael died in 2009 while trying to make a concert comeback to help pay off a reported $374 million in debt.
Don Johnson: The Miami Vice actor’s company filed for bankruptcy in 2004 to avoid having his Colorado ranch sold at auction. Johnson owed $930,000 to a bank and his other debts included $5,500 to an Aspen grocery store.
Gary Coleman: Before his 2010 death, the former child star had to file for bankruptcy protection after his family allegedly spent all the earnings he made on Diff’rent Strokes. While Gary’s fortune reportedly was as high as $7 million, a bitter legal fight with his adoptive parents and medical problems drained him of his riches.
Cyndi Lauper: Girls just want to have funds? In 1981, Cyndi filed for bankruptcy after her first album with the Blue Angel band flopped, and then their manager sued the group. But Cyndi’s money woes were soon over when her solo album debut, She’s So Unusual, made her a star.
Donald Trump: Incredibly, the big mouthed mogul and Celebrity Apprentice star has filed for bankruptcy twice—but for corporate bankruptcy, not the personal kind. The Donald filed first after his casino biz went belly up in 1992 and then in 2004 when he claimed losses of $1 billion.
Lorraine Bracco: The former Sopranos star filed for bankruptcy in 1999 following a custody battle with ex-boyfriend Harvey Keitel over their daughter, Stella. Lorraine won custody but she admitted in 2006 that her financial problems were “horrifying and embarrassing.” Thanks to her Sopranos success, however, she paid everything back.
Mike Tyson: The former heavyweight boxing champ had to file forbankruptcy in 2003 and was reportedly $50 million in debt. Tyson was once worth $400 million but squandered his money on mansions, jewelry, Bentleys and Bengal tigers. But last year Mike declared he was finally stable: “I’m totally out of bankruptcy.”
Tionne 'T-Boz' Watkins
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Tionne “T-Boz” Watkins: The TLC singer filed for bankruptcy in 1995 and in 2011. Then last year, a judge dismissed her third bankruptcy case because T-Boz reportedly made no effort to settle her affairs, pay off her debts or appear at a creditors’ meeting. Hopefully her recent TLC network show, Totally T-Boz, generated some cash!
Willie Nelson: In 1992, the country legend released the album “The IRS Tapes: Who’ll Buy My Memories?” and handed over the profits to the government. He owed them $16.7 million in 1990, forcing the IRS to seize his bank accounts and real estate.
Mary J. Blige
Mary J. Blige: The R & B star and her husband recently had a $3.4 million tax lien put against them in New Jersey. On top of that, Blige’s charity foundation was sued for failing to pay back a $250,000 loan.
Leif Garrett: The ‘70s teen idol, who later battled drug addiction, only had $350 when he reportedly filed for bankruptcy in 2001. At one point, the former child star claimed the only income he had was a $1,000 monthly allowance from his mother. Leif is still hanging in there, performing in Seoul, Korea earlier this year.
Vince Neil: The Motley Cure frontman has filed for bankruptcy twice—in 1998 and again in 2005, when he was reportedly $1.5 million in debt.
Sinbad: The comedian filed for bankruptcy for the second time in April, saying that he owed a debt of about $11 million, $8 million of which was money he owed for back taxes. Sinbad, whose real name is David Adkins, insisted to Oprah this year, “I didn’t live large. I invested in me. I invested in a lot of other people. I would not change it.”
Janice Dickinson: The self-proclaimed world’s first supermodel filed for bankruptcy this year after racking up nearly $1 million in debt. Apparently the reality TV star fell behind on her rental payments and faced a tax lien. Janice also owes thousands in unpaid medical bills to plastic surgeons and dermatologists.
Meat Loaf: The musician filed for bankruptcy in 1983, after a series of bad business deals and legal issues. Meat Loaf is currently performing on his world “Last at Bat” farewell concert tour.
MC Hammer: It wasn’t Hammer time for the singer when he had to file for bankruptcy in 1996. He told the court he was $13.7 million in debt and only had $9.6 million in assets. In another setback, MC was arrested for investigation of obstructing an officer in Dublin, CA, earlier this year -- but the star later tweeted that all charges were dropped.
Burt Reynolds: In 1996, the former movie king filed for bankruptcy, following a nasty divorce from actress Loni Anderson. His debts included $100,000 to his wig maker!
Gary Busey: The actor and Celebrity Apprentice star filed for Chapter 7 bankruptcy in California last year, citing up to $1 million in debts and less than $50,000 in assets. E! News reported that the “assets” Gary’s legal team included in the filing were such wacky items as 300 VHS tapes, old moccasins, bows and arrows, tambourines, and a broken pellet gun!
Teresa Giudice: The Real Housewives of New Jersey star and her husband Joe got themselves into a whopping $11.8 million in debt and were forced to declare bankruptcy in 2010. Spendthrift Teresa admitted to In Touch magazine the trouble resulted from throwing fancy parties for their daughters, leasing an expensive Maserati, going on shopping trips with friends and maintaining their lavish gold and marble home.
Stephen Baldwin: The actor and his wife Kennya filed for Chapter 11 bankruptcy protection in 2009. Stephen, who appeared on Celebrity Apprentice this year, owed $1.19 million on two mortgages, $749,974 in back taxes and $70,000 in credit card debt.
Lenny Dykstra: The former Mets baseball star, facing divorce, foreclosure on his mansion and a multitude of lawsuits, filed for Chapter 11 bankruptcy protection in California in 2009. Incredibly, however, Dykstra, who once was worth about $58 million, claimed it wasn’t bankruptcy at all, merely “reorganization.”
Sonja Morgan: The Real Housewives of New Jersey star filed for bankruptcy protection in Manhattan in Nov. 2010, according to the Wall Street Journal. She listed $19.8 million in debt and $13.5 million in assets on her bankruptcy petition.
Dennis Rodman: The former NBA and Celebrity Apprentice player is accused of owing more than $800,000 worth of child support to his third wife, according to TMZ. But court documents said he was unable to pay up because he’s currently broke.
Francis Ford Coppola
Francis Ford Coppola: After the famed director’s 1982 musical One From the Heart tanked, he began bankruptcy proceedings. Luckily for Coppola, he borrowed money from his mom to go into the wine business, which became a huge success.
David Crosby: Crosby filed for bankruptcy in 1985 after his solo career cooled down. But now the veteran rocker never lacks for work--he just hit the road again on a Crosby, Stills& Nash concert tour.
Heidi Fleiss: The famed Hollywood Madam filed for bankruptcy in1999 after being released from the slammer, where she had served 21 months for tax evasion and money laundering connected to her prostitution ring. She claimed to be $269,000 in debt. This year, Heidi went back into the sex business, renovating Dennis Hof’s Love Ranch, a legal brothel in Nevada.
Zsa Zsa Gabor
Zsa Zsa Gabor: The cop-slapping actress had to file for bankruptcy in 1993 after another veteran star, Elke Sommer, sued her for libel over telling German magazines that Sommer’s career was washed up. The court ordered Zsa Zsa to pay Sommer $2 million, but she filed for bankruptcy instead.
Dorothy Hamill: The Olympic gold medal winning ice skating legend purchased the Ice Capades but had to sell the company in 1995 and filed for bankruptcy herself in 1996, citing debts of $1.6 million. Dorothy blamed her ex-husband, Kenneth Forsythe, for the business failure. The skater appeared on last season’s Dancing with the Stars but had to drop out due to injury.
La Toya Jackson: In 1995, she had to file for bankruptcy after flopping at a singing career. But La Toya has bounced back with work on such shows as this season’s Celebrity Apprentice and her net worth was recently estimated at $4 million.
Brett Butler: The comedienne once had her own ABC show, Grace Under Fire, in the ‘90s, but Butler revealed in 2011 that she was living in a homeless shelter: “I was dying of addiction.” Last year, Butler played recurring roles on The Young & the Restless and Anger Management and also still does standup comedy.
Willie Aames: The former Charles in Charge and Eight Is Enough star revealed he slept under bushes and in parking garages after going bankrupt in 2008 and having his house foreclosed on. He made more than a million a year during the heyday of Eight is Enough, but recalled, “Suddenly there was no job, no bank account, no wife, no child. I never dreamt it could happen that fast.” Lately, he’s worked for a construction company and has been a cruise director.
Sly Stone: The funk legend revealed to The New York Post in 2011 that he was homeless, living out of a van he parks in Los Angeles. Sly blamed his problems on substance abuse, mismanagement and spending beyond his means.
Natasha Lyonne: The American Pie actress was reportedly homeless and hospitalized with serious health issues. She also had a bunch of legal troubles, but has recently gotten her life back in order after heart surgery last year.
Margot Kidder: With a new Superman movie premiering this month,it’s the perfect time to remember the sad story of the former Lois Lane whose life fell apart. After starring with Christopher Reeve in four Superman movies, a 1990 auto accident left Margot with huge medical bills—and bankrupt. She also battled bipolar disorder which caused her to sleep in backyards around Los Angeles in 1996. The actress is reportedly now free of manic episodes and involved in liberal political causes.
Warren Sapp: The former NFL star filed for bankruptcy in April 2012 after having blown the $82 million he’d earned in his career--and fans learned of his lavish spending on such items as a rug made out lion hide and more than 200 pairs of Air Jordans. In 2012, Sapp owed $6.7 million to his creditors — nearly a million of that to the IRS — and only had $6.45 million on hand.