Celebrities Who Went From The Red Carpet Into The Red
Various movie stars and sports persons have appeared on the red carpet at various functions. However, what we do not know is that some of these celebrities are not content with the red carpet. Rather, they decide to carry the color back to their lives. The individuals have racked up enormous debts, which has led them to file for bankruptcy.
“Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We’re a nation of debtors.” —Elizabeth Warren
Kerry had an estimated fortune of £6.8 million from her shows such as “Atomic Kitchen,” “The Iceland Ad,” and “I’m a Celebrity.” However, she was declared as bankrupt earlier this month for the second time. In 2008, she was declared bankrupt due to repay £82,000 out of a £417,000 from a tax bill. Kerry’s financial problems also cost her the contract with the payday loan company, Cash Lady.
During his career as a boxer, Mike Tyson earned about £200-£300 million. He could take home £19 million from a single match when he was in his prime. However, Mike had a passion for Bentleys, Bengal tigers, and numerous gold chains, which are not cheap. He had racked up debts £24.6 million without any means to pay, which left filing for bankruptcy as the only option for him.
The star of Blade is presently out of prison. He was incarcerated for three years due to failure to file tax returns. Wesley was declared bankrupt in 2006. Between 1999 and 2004 Wesley earned a £25 million fortune, which he wasted on cars and houses. The 50-year-old star even forgot to pay taxes and found himself in hot water with the law enforcement agencies.
Did MC Hammer refer to himself when he created the album “U Can’t Touch This?” This was a 1990 album. Hammer even created a cartoon series of himself. It certainly looks like he did because despite earning over £19 million, he had to file for bankruptcy in 1996 with £8 million of debts following him. During that time, he had a £7 million mansion, 200 paid staff and an entourage of 40 persons. That doesn’t look like a good investment.
George Best was known for the skills he had in the football arena. The Manchester United footballer was also famous for his Playboy lifestyle beyond the arena. Best is reputed to have claimed, “I spent a lot of money on booze, birds and fast cars. The rest I just squandered.” He was declared bankrupt in November 1982. When he passed away, Best allegedly left behind a debt of £450,000.
If earning £25 million in 2009 seemed easy for Nicholas Cage. He was just a step away from bankruptcy after accumulating £8.9 million in unpaid taxes. In order to clear the debts, he had to dispose a bizarre collection of assets, including luxurious homes, exotic pets, castles, a private island in the Bahamas, and a 67 million-year-old dinosaur skull.
Lindsay Lohan’s economic problems continued to grow even as she was making efforts to steer away from financial meltdown. The Mean Girls star borrowed a sum of £64,000 from Charlie Sheen just to keep her afloat after being made to pay immense amounts as legal fees for arrests and court violations. Lindsay Lohan’s bank accounts have been seized by a government agency from the United States. Why? She owed £150,000 in unpaid taxes.
Shane sold around 50 million records during his heyday of the biggest boyband in the world. He also had 14 number one singles, which earned him £8 million. During his prime, he was reputed to favor a four-seater helicopter, a Ferrari, a Porsche, and a lavish property in Ireland. He accumulated £18 million in debt and was declared bankrupt in June 2012.
These are some of the celebrities who went from the red carpet into the red. Apart from George Best, they are all still leading lives probably without the fortune they were earlier holding.
More in Rich & Famous
Arctic Ice Shrinking at Alarming Rate as Scientists Reveal Shocking Figures
The ice caps and glaciers around the world are melting at an alarming rate, making scientists extremely worried about global warming...April 19, 2020
Steven Spielberg’s Remarkable Transformation from Struggling Film Student to Hollywood’s Creative Genius
Hollywood is indeed a hotbed of celebrities, and billionaire Steven Spielberg has mastered the art of wading through the industry’s murky...April 19, 2020
Leonardo DiCaprio’s Generous Gift to Ecuadorian Farmers
Runa, a brand that manufactures naturally caffeinated drinks made from the Amazonian leaf guayusa, has received overwhelming support from a number...April 19, 2020
Simon Cowell Pulled a Hilarious Prank on David Williams and Won $1,000
The relationship between Simon Cowell and David Williams always promises to bring some drama whenever Britain’s Got Talent is on. The...April 14, 2020
Yon Won’t Believe How Much Kylie Jenner Makes Via Instagram
Kylie Becomes Youngest Self-made Billionaire Kylie Jenner is one to take long before she makes the headline, although this time it...April 14, 2020
The Truth about Charities: Why You Shouldn’t Donate Your Old Car
Thinking of giving away your old vehicle to charity to lower your tax burden? It may not be as simple as...April 14, 2020
After Years Spent Eluding the Authorities, Time Finally Caught Up with These George Clooney Impersonators
Celebrities are not normal people, and neither are their problems. We often hear crazy stories about obsessive fans who are willing to go...April 14, 2020
After Being Named the Richest Female Music Artist, Is Rihanna Contemplating Retirement?
For Rihanna, 2019 was the year she has been looking forward to all her life. How many times has the singer...April 13, 2020
What Financial Meltdowns Can Teach Us About Cyber Attacks
With global economies becoming increasingly dependent on digital technology and internet connectivity, experts are becoming concerned about the growing cyber insecurity....April 13, 2020