With fancy cars, insane bling and private jets, most people think that celebrities have so much money, they can never go broke. But, unfortunately for these bottle servicing, fur coat wearing famous faces, that’s simply not the case.
It takes a lot of cash to maintain the lifestyles of the rich and famous — after all, jet fuel ain’t cheap and someone’s gotta polish those two dozen diamond tiaras. Couple that with bad (or even malicious) advice from managers, money grubbing family members, and the “too rich, too fast” syndrome that plagues many of the newly wealthy, and you’ve got a recipe for financial disaster.
Celebrities do go broke – read on to learn more about a few famous folks who went from prosperous to penniless.
Even though Willie Nelson really wants to get back “On the Road Again,” he may have to hold off until he can raise some more money after filing for bankruptcy in 1990. Apparently this good time loving country singer hit a few more problems than just heart ache – the IRS chased him around and raided his home numerous times before Mr. Nelson decided to call his banker and officially go bust. At least the whole experience will give him more material to craft into a hit song.
While Mr. Disney himself didn’t go bust, his company Laugh-O-Gram Studios declared bankruptcy in 1920. Lucky for him, he penned a little mouse by the name of Mickey seven years later and began a career climb matched by few.