According to a report by Forbes, about one-third of all American celebrities go broke within three years of retiring. There are several reasons for this. First, stars often have lavish lifestyles they cannot afford on their incomes.
They may also make poor investment choices or be taken advantage of by financial advisers. As a result, many celebrities do not have a good handle on their finances and end up spending more than they have.
This can be a recipe for disaster for anyone, but it is especially problematic for celebrities because they often have large amounts of debt and few assets to fall back on. This can lead to bankruptcy and a whole host of other financial problems. Unfortunately, celebrities who go broke often find themselves in the headlines for all the wrong reasons. It is a cautionary tale for anyone who thinks fame and fortune will last forever.
Celebrities Who Went Broke 2022
10. Sinbad (Net worth: $4M)
Sinbad is one of the many celebrities who went broke in 2020. The stand-up comedian and actor, whose real name is David Adkins, filed for bankruptcy in September, listing debts of more than $10 million.
According to court documents, Sinbad owes more than $8 million to the Internal Revenue Service and has unpaid state and federal taxes dating back to 1998. He also has more than $1 million in credit card debt and owes more than $500,000 each to American Express and City National Bank.
The 57-year-old performer, who starred in the 1990s sitcom “The Sinbad Show” and has appeared in movies including “Jingle All the Way” and “First Kid,” blamed his financial troubles on a series of bad investments, including a failed tour business and a restaurant that closed after Hurricane Katrina.
9. Chris Tucker (Net worth: $5M)
Chris Tucker is an American actor and comedian with a net worth of $5 million. As a stand-up comedian, Tucker toured the world before landing roles in several films, including Friday, Dead Presidents, and The Fifth Element. He is best known for his role as Smokey in the Friday franchise.
Tucker’s career hit a snag in the early 2000s when he began to experience money problems. He reportedly spent $40,000 per month on luxury items and had amassed a sizable debt. Then, in 2005, he was sued by the Internal Revenue Service for failing to pay $11.5 million in back taxes.
In recent years, Tucker has been more fiscal discipline and has even paid off his I.R.S. debt. He continues to tour as a stand-up comedian and occasionally appears in films.
8. Wesley Snipes (Net worth: $10M)
Wesley Snipes is an American actor, director, producer, and martial artist. His net worth is $10 million. He has starred in many movies, including Blade and White Men Can’t Jump. In 2008, Snipes was convicted of felony tax evasion and sentenced to three years in prison.
He was released in 2013 and paid $9 million in back taxes. Despite his financial troubles, Snipes continues to act and produce movies. In 2018, he starred in the film The Recall alongside Renny Harlin.
7. Lena Headey (Net worth: $14M)
Lena Headey is an English actress with a net worth of $14 million. She is best known for her role as Cersei Lannister in the HBO series Game of Thrones, for which she won the Primetime Emmy Award for Outstanding Supporting Actress in a Drama Series in 2015.
Headey began her acting career in the early 1990s with appearances in such films as The Remains of the Day and Waterland. In addition, she starred in several British and American television series, including The Truman Show, Terminator: The Sarah Connor Chronicles, and Dexter. In 2011, she was cast as Cersei Lannister in Game of Thrones, quickly becoming one of the most popular television series ever.
6. Mike Tyson (Net worth: $15M)
At one time, Mike Tyson was the undisputed heavyweight champion and one of the wealthiest athletes in the world. Yet, he is barely scraping by today, with a net worth of just $15 million.
How did such a rich and famous man fall so far? In part, it is because of his own bad decisions. He has been convicted of rape and spent three years in prison. He has also been embroiled in several lawsuits and had to pay large sums of money.
Tyson has made some poor investments over the years. He once paid $2 million for a 350-acre ranch that he never even visited. He also invested heavily in a luxury boxing club that went bankrupt. Tyson’s lavish spending habits have also contributed to his financial problems.
5. Johnny Depp (Net worth: $15M)
Johnny Depp may have an estimated net worth of $15 million, but this doesn’t mean he’s immune to financial troubles. The actor has been embroiled in several lawsuits recently, which has undoubtedly taken a toll on his bank account.
Depp found himself in hot water in 2018 when it was revealed that he had blown through $30 million in just 12 months. According to reports, his lavish lifestyle was to blame, with the actor spending lavishly on private planes, wine, and expensive gifts for friends and family.
Then, in 2019, Depp was sued by his former business managers for allegedly failing to pay them millions of dollars. The suit claimed that Depp had “engaged in a pattern of reckless and extravagant spending” that left him unable to pay his bills.
4. Lisa Marie Presley (Net worth: $16M)
Lisa Marie Presley’s net worth is estimated to be $16 million. The daughter of Elvis Presley, Lisa Marie inherited her father’s musical talent and has enjoyed a successful career in the music industry as an actress.
Despite her success, Lisa Marie has had her share of financial troubles. In 2012, she was forced to sell her Graceland estate for $5 million after falling behind on the mortgage payments. She also owes more than $1 million in back taxes to the I.R.S.
Lisa Marie’s spending habits are partially to blame for her financial woes. She is known for living lavishly and has been through several costly divorces. However, she also reportedly spent millions of dollars on drugs and alcohol.
3. Pamela Anderson (Net worth: $20M)
Pamela Anderson’s net worth is $20 million. She is an American-Canadian actress, model, producer, author, activist, and former showgirl, known for her roles on Home Improvement, Baywatch, and V.I.P. She was inducted into Canada’s Walk of Fame in 2006.
In May 2018, Anderson was awarded the 2,624th star on the Hollywood Walk of Fame. Anderson has appeared in several films, including Barb Wire (1996), Borat (2006), and Blonde and Blonder (2008). She was last seen in the 2019 film The Dirties.
The 52-year-old actress Pamela Anderson has had quite a career since she first burst onto our screens in the early ’90s. Pamela Anderson’s net worth is estimated to be 20 million as of 2020.
2. Nicolas Cage (Net worth: $25M)
Nicolas Cage is an American actor, producer, and director who has a net worth of $25 million. He is best known for his roles in films like “Raising Arizona,” “The Rock,” and “Face/Off.” However, in recent years, Cage has been more known for his financial troubles than his acting career. In 2007, he was forced to file for bankruptcy after accumulating over $14 million in debt.
Since then, Cage has worked hard to pay off his debts and rebuild his net worth. He has appeared in several successful films, including the “National Treasure” franchise. He has also carefully invested his money and earned a healthy investment return. As of 2020, Nicolas Cage’s net worth is estimated to be $25 million.
1. Curtis Jackson — 50 Cent (Net worth: 30M)
Curtis Jackson, better known as 50 Cent, is an American rapper and actor with a net worth of $30 million. He rose to fame with the release of his album “Get Rich or Die Tryin'” in 2003 and has since starred in several films, including “Southpaw” and “Spy.”
Despite his successful career, 50 Cent has declared bankruptcy twice, most recently in 2015. In court documents, he stated that he had between $10 and $50 million in assets and between $20 and $100 million in debts. He blamed his financial troubles on lavish spending, poor investments, and expensive lawsuits.
While 50 Cent may be down on his luck financially at the moment, there’s no doubt he’s still one of the biggest names in Hollywood. With a net worth of $30 million, he’s far from being broke.
