Famous Celebs Who Went Broke In Seconds

Video Statistics and Information

Video

Captions Word Cloud

Captions

famous people who went from riches to rags hey everyone let's welcome back to the screen a becoming famous overnight and getting used to the nicer things in life often leads to a disaster a spending spree a couple of celebrities took things to a whole new level and squatted away more money than most people see in a lifetime they spent so much cash that they could put the king of Arabia to shame and some of it wasn't even used to finance their lavish lifestyle divorce settlements bad deals lawsuits and loans also led to a downfall of some of our favorite celebs the let's declare bankruptcy after going completely broke let's take a look at famous people who went from riches to rags and do remember to press the subscribe button so you could catch up on more fun facts about your favorite Hollywood stars number 9 Nicolas Cage being one of Hollywood's highest paid actors doesn't mean you can't go broke especially if your name happens to be Nicolas Cage the national treasure star has the most bizarre spending habits and wasting away millions of useless crap feels like taking candy from a baby on this case cage blamed his financial adviser for sending him down a path towards financial ruin but one look at his crazy shopping list proves he's not the one to blame that didn't stop this oscar winner for suing him for fraud and negligence after the IRS started knocking on his door with a 6 million dollar tax penalty the list of things Cage bought with his 150 million dollar fortune includes two Bahamian Islands 15 homes around the world two european castles a haunted house in new orleans and several luxury yachts he also purchased a bunch of exotic animals dinosaur skulls and shrunken pygmy heads no one in the right minds would wants anywhere near them no wonder why he accepted every rule that came his way since he'd never be able to afford all of this otherwise number 8 Michael Jackson the King of Pop made more money than anyone can count but he reportedly was on the verge of bank see before his death this news doesn't come as a surprise if you take his lavish lifestyle into consideration his infamous Neverland Ranch came with a price tag of 17 million dollars and he needed around five million dollars for annual maintenance costs Jackson also spent an enormous amount of money on Bentley's antiques art clothes chimpanzees diamond-encrusted gloves and other trinkets dealing with legal troubles also cost him tens of millions of dollars settling a child's molestation lawsuit set him back by about 20 million and he also had to pay out 12 million for a divorce settlement to his baby mama Debbie Rowe Jackson had set aside 5 million dollars in annual interest payments on his debts after taking a huge loan that still wasn't enough to cover them all and the thriller singer was essentially five hundred million dollars in debt at the time of his death in 2009 executors of Jackson's estate somehow managed to pay back his loan and make a profit in the years to come they sold his future music rights to Sony released a profitable concert movie this is it and accepted several lucrative endorsement deals afterwards number 7 Burt Reynolds Smokey and the Bandit was such a big hit that every studio in Hollywood wanted Burt Reynolds in their next movie and they were willing to pay the price he was the highest-paid actor in the world from 1978 to 1982 this American icon spent lavishly at the height of his fame and that eventually led to his downfall he had several luxurious estates in every corner of the US and owned a private jet a helicopter numerous unique sports cars and 150 horses a divorce from Loni Anderson cost him a fortune and so did a couple of failed investments in Florida restaurant chains he filed for bankruptcy in 1996 after falling into more than 10 million dollars worth of debt Reynolds managed to avoid financial ruin after the roll in Boogie Nights put him back on the map after that the call started in did he regret losing a fortune on his over-the-top lifestyle not one bitch Reynolds acknowledged the fact he wasted a lot of money because he hadn't watched it but said he spend even more if he could number six Lady Gaga Lady Gaga's dresses don't come cheap and she almost lost all of her money because of them back in 2009 the eccentric singer admitted that she was on the brink of bankruptcy after spending a fortune on tour costumes while promoting her album The Fame Monster Gaga's unique fashion sense is a part of her charm and showing up on stage without a daring dress would come as a disappointments for everyone who paid a ticket to see her that's why investing a lot in to her crazy outfits makes sense but not if you end up losing millions in the process the weirdest part of the story is the fact that Gaga knew nothing about the extent of her financial problems after her advisors informed her she went bankrupt after the first extension of the Monster Ball tour she couldn't believe what her ears were hearing she had five number one singles and nothing but three million dollars worth of death to show for it fortunately Gaga got back on her feet since that tour eventually grossed an estimated 227 million dollars from 200 shows attended by an audience of 2.5 million people number five 50 cent get rich or die trying' isn't just the title of 50 Cent's first studio album it's also his life story his records were selling like crazy when he burst onto the rap scene back in 2003 but earning millions from sales wasn't enough he started investing money left and right his broad business portfolio included everything from fashion and real estate to health drinks and liquor he reportedly earned around 100 million dollars from a vitaminwater deal alone so how did 50 cent go from being one of the wealthiest hip-hop artists to filing for bankruptcy bad judgments and lavish lifestyles both played an important role in his downfall monthly expenses of 108 and dollars took a toll on his bank account and so did the fails business deals he made in the past he invested two million dollars in sleek headphones and was later ordered to pay seventeen million dollars to an ex-partner who accused him of stealing his design at 50 Cent's also lost five million dollars in a privacy lawsuit filed by last onea Levinson all after posting her sex tape online number four Lindsay Lohan roles in The Parent Trap and Freaky Friday put Lindsay Lohan on the map and she had no trouble securing a huge salary after that she received 1 million dollars for the role of Cady heron in the cult teen comedy Mean Girls but that seems like pocket money in comparison to her future paychecks she wanted 7.5 million dollars for each movie she starred in in the next year or two and some studios were actually ready to cash out that much everything changed after her legal troubles made the headlines and the offer stopped coming in after her hard partying ways and unreliable reputation led to a decline in mainstream acting roles Lindsay's bank account took ahead she spent a fortune on her expensive drug habit and Rehab fees that came after it in 2012 the IRS had seized control of her bank accounts to pay two hundred and thirty three thousand dollars she owned and unpaid taxes it's also been reported that Lohan was kicked out of her apartment in London after she failed to pay one hundred thirty seven thousand dollars owed in rents she went from earning millions to having eight hundred thousand dollars in the bank number three Mike Tyson earning four hundred million over the course of two decades usually means you're set for life but not if your name is Mike Tyson the former heavyweight champion managed to squander a fortune on jewelry mansions fast cars and motorcycles expensive phones a list parties designer cloths and a pair of Siberian tigers Tyson was one of the wealthiest athletes in the world at one point in time but his lavish lifestyle cost him this title no matter how much he earned he always managed to spend more and eventually had to declare bankruptcy in 2002 his boxing success became so lucrative that he felt spending four hundred thousand dollars a month is totally fine one of the weirdest things he'd ever bought were two Pet Tigers worth one hundred and forty thousand dollars to make things even worse Iron Mike had to hire a trainer to take care of them and pay him one hundred and twenty five thousand dollars per year that's one point he even bought a two million dollar bathtub for his wife Robin Givens but their divorce settlement somehow cost him even more she asked for ten million dollars after only one year of marriage and that's exactly what she got number two Debbie Reynolds the Unsinkable Molly Brown maybe one of Debbie Reynolds most iconic characters but in reality the oscar-winning actress sank pretty low she had a tendency to hand over all of the money over to her husbands who took advantage of her tender spirits her second husband Harry Karl reportedly spent around 100 million dollars of her fortune on gambling and bad investments she was forced to file for bankruptcy after he left her with more than 300 million dollars in debt despite the fact most people remember her as one of the biggest stars in Hollywood's golden age Reynolds had several other ventures on the side she became the owner of the Clarion Hotel and Casino in Las Vegas and later renamed it the Debbie Reynolds Hollywood Hotel opening her own Hotel was one of Debbie's biggest dreams but it quickly turned into a nightmare she was forced to declare bankruptcy in 1997 and sold the property at auction a year later number 1 Elton John it's no secret Elton John has expensive tastes but spending over 50 million dollars during a 20-month period sounds like too much even for him that's exactly what happened back in 2002 when he went broke after going on a crazy spending spree for no reason whatsoever this happened years before the pop sensation adopted his sons with David Furnish and it obvious he wasn't worried about leaving money for his kids Elton went on the record saying he likes spending money because he has no one to leave it to all this madness started after 1996 when he signed a 16 million dollar deal with record company Polygram after that he just didn't know how to put an end to it the craziest part is Elton somehow managed to spent around four hundred and fifty thousand dollars on flowers alone the Rocket Man eventually got back on his feet and speaking more sensible with money once he started raising a family thank you very much for watching today's video make sure to subscribe to our channel for more amazing content and don't forget to check out one of the other two videos on your screen

Info

Channel: TheScreeny

Views: 1,364,977

Rating: 4.4821048 out of 5

Keywords: celebs, celebrities, famous people, rags to riches, celebs who went broke, famous celebs who went broke in seconds, celebs who went from riches to rags, riches to rags, famous celebs, nicolas cage, nicolas cage broke, broke celebs, celbs who are rich, review, top 10, top 5, countdown, viral, new, education, entertainment, kid friendly, family friendly, thescreeny, the screeny

Id: i_unOn9h4I8

Channel Id: undefined

Length: 11min 49sec (709 seconds)

Published: Fri Nov 23 2018

Reddit Comments