Fame Does Not Guarantee Fortune: 14 Celebs Who Failed To Keep Their Money Straight

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December 28, 2012 ‐ By Meghan Williams

Many celebrities have filed for bankruptcy over the years, proving that even with fame, fortune is not a guarantee – a sentiment that these fifteen celebrities can certainly attest to. Their distressing financial circumstances have converted into bankruptcies, illustrating the importance of good money management at any tax bracket.

"Mike Tyson PF"

Source: WENN

Mike Tyson

At his richest, Mike Tyson was worth between $300 and $400 million – an almost unfathomable amount of money to blow. Still, the former heavyweight champ managed to squander his riches on expensive un-necessities  mansions, cars, jewelry, parties, clothing, motorcycles and Bengal tigers. According to his 2003 bankruptcy filing, Tyson owed incredibly large sums of money to a number of creditors; including the IRS, Georgia treasury, and even the British tax authorities. He now lives a comfortable life: not a very wealthy one, but a happy one, he says, with his wife and family.

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  • f

    #16. Former MLB pitcher, Curt Shilling. He lost all his money in a failed video game company

  • AJ389

    Where’s Damon Dash?

  • MLS2698

    Ball responsibly, or don’t ball at all!

  • Say What?

    The only ones I feel remotely sorry for are Gary Coleman and T-Boz. I wish Donald Trump would go broke and stay broke. He spends money on a gold toilet, but he won’t buy a decent lace front? Somebody’s priorities just like their hairline is a mess!

  • Say What?

    The only ones I feel remotely sorry for are Gary Coleman and T-Boz. I wish Donald Trump would go broke and stay broke. He spends money on a gold toilet, but he won’t buy a decent lace front? Somebody’s priorities just like their hairline is a mess!

    • Vintage

      CTFU @ your Donald Trump anger.

No thanks