Celebrities Who Went Bankrupt

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It’s safe to say that a synonym for celebrity is rich or financially buoyant. The things that makes us know a celebrity or that celebrities do as a culture, is to spend money on luxurious things like wrist watches, rings, chains, dresses, shoes, houses, cars and the likes. Some of these people who were not so rich before becoming celebrities get so carried away with the lush life and make dangerous financial decisions which in the end damages their finances so badly.

While some celebrities just encounter bad luck, some of them refuse to employ the services of a financial advisor with the belief that the money will keep coming in. When it doesn’t, they hit rock bottom. This article compiles a list of such person who were rich celebrities buy eventually went bankrupt.

JOHNNY DEPP – The star of the Pirates of the Caribbean movie, Johnny Depp could be considered as a very bad financial manager of himself. He spends too much on irrelevant things. Some time ago when Hunter S. Thompson died, he spent about three million US dollars to fire his ashes out of a canon. What for? No one knows.

He also lost a whole lot of money to the divorce case between him and his ex-wife, Amber Heard. Johnny Depp, who is now bankrupt, is trying to sue his managers for allowing him go bankrupt, but the managers reported that they warned him countless times but he would not listen. Basically, he continued spending more than he was earning until he had nothing to spend anymore.

50 CENT – For a globally known rapper who was once ranked to be amongst the top five richest hip hop artists in the world, it is really shocking to see him on the list of bankrupt celebrities. Beginning with a lawsuit of five million dollars, filed against him by a woman he allegedly slept with, for posting their sex tape online, 50 Cent began his journey to bankruptcy. By 2016, he already had debts that were worth his remaining assets or more. He is however riding up again, but he is still paying debts.

AARON CARTER – The singer who was once the crush of every teenage girl was said to have declared bankruptcy in 2013. While we do not know what exactly caused the bankruptcy, it was said that he owed about two million dollars, and he has less than a thousand dollars in his whole account.

DAVID CASSIDY – With his alcohol addiction, the one-time teenage idol has been charged with DUI three different times within four consecutive years. Shortly after his wife divorced him, which was in 2014, he filed for bankruptcy in 2015 with a debt of about 10 million dollars.

He did not owe just anyone; he owed people and organizations he could not get away from like, lawyers, several banks and even American express. He retired bankrupt in 2017, after health issues which must be associated to his drinking problem stopped him from going on tours where he could actually make some money.

Celebrities can go broke too, no matter how rich they are. We all just need to manage our finances and live within our means.

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