Without wasting much time let's look at some popular celebrities who were rich but later went broke because of their carelessness or extravagant lifestyle.
Wesley Snipes had a blockbuster movie,"Blade" and was on his way of turning into the next big thing, however tragically in 2006 he needed to petition for financial protection and serve 3 years in prison.
Wesley didn’t believe in paying taxes (maybe he does now). He was indicted for tax fraud, was found guilty and was ordered to pay taxes to the tune of $12 million plus jail time.
In 2009, Nicolas Cage had $40 million earned throughout the long stretches of film making. In 2014 he needed to file for bankcruptcy.
Nicolas accused and sued his manager for carelessness when he was pummeled with $6.2 million bill by the IRS. However he is a major high-roller purchasing extravagance vehicles, houses, medieval manors, properties in the Bahamas and even an island.
Rodman earned big, making $27 million over the course of his career as a basketball player. However, in 2014 he had to file for bankruptcy.
His cash was spent absurdly, such as going through $30k every month on drinks alone, in addition to he could no longer compensation kid support adding up to $808,395 around then.
His cash was spent stupidly, such as spending $30k every month on drinks alone, in addition to that, he could no longer compensation from youngster support adding up to $808,395 around then.
Forbes Magazine once evaluated MC Hammer's total assets at $33 million. In 1996 he was $13 million in the red and he petitioned for financial protection.
His extravagant lifestyle and large staff put him under.
Dionne was one of the best 40 hit creators for quite a long time - from late 50′s to late 90's. She was a six-time Grammy award winner . Lamentably, this amazing artist needed to seek financial protection in 2013.
She owed the IRS more than $11 million in back taxes.
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