Hello, Welcome to Instaloverz, Today we are here to talk about the 10 Celebs Who Went From Rich To Poor. So those who are willing to get the inspiration about 10 Celebs Who Went From Rich To Poor can just read this full article we had created for you. So check out “ 10 Celebs Who Went From Rich To Poor!”
10. 50 Cent-
When the rapper first emerged on the hip hop scene in the 2000’s, he made a big name for herself coming from a crime ridden neighborhood plagued with drugs and shootings. He’s managed to sell more than 20 million albums and has even won a Grammy. He was ranked one of the richest rappers in the American, trailing behind Jay-Z. However, around the mid-2000’s, he started to spend his earnings quickly on a lavish lifestyle. He bought cars, jewelry and even helped support a small group of friends and family members, as well as donating to numerous charity organizations. But things started to go downhill when he publicly shared a sex tape of a rival rapper’s ex-girlfriend. A lawsuit ensued, and he was forced to pay $5 million dollars. He also lost more than $1 million dollars on Sleek by 50 and faced a $17 million dollar lawsuit for allegedly stealing the design. With more than $15 million in liabilities, he filed for bankruptcy in 2015.
9. Gaby Hoffmann-
As a young child, she starred in a number of box office hits that include Uncle Buck and Sleepless in Seattle. She went on to enroll into college and lead a normal life outside of the fame and Hollywood lifestyle. But her life was far from perfect. In a New York Times interview, she revealed the state of her current finances and said she only had a few thousand dollars in her bank. She started off the conversation by showing her love for singing sensation Beyonce and her billboard with the logo “life is but a dream.” Hoffmann then said that under the billboard was a homeless guy and her with $2 bucks. She went on reveal that $2 was a euphemism for $4,000 which she recognizes as a big amount of money. However, the actress states that it’s not that much if you don’t know where the next sum of money is coming from next.
8. Randy Quaid-
With a career that spans over two decades and with over fifty films under his belt, it’s hard to believe that Randy Quaid spiraled downhill. Having been nominated for several Academy Awards, he’s starred in notable films like Brokeback Mountain and Elvis. The first signs of trouble surfaced when Quaid ensued a legal battle with the production company of Brokeback Mountain. The actor was requesting $10 million dollars in punitive damages because he stated the film had no real shot at the box office. The lawsuit was eventually dropped, but in 2009, he and his wife were arrested in California for failing to pay a $10,000 bill. They were due to appear in court but failed to show up. By 2010, there were several warrants out for their arrest. The couple also had burglary charges against them for staying at a property without the owner’s permission. But it doesn’t stop there, he and wife fled to Canada as refugees claiming that several actors were murdered by the “Hollywood Star Whackers,” and that they were next. While living in Canada, he crossed into the United States in 2015. He was arrested while in Vermont, luckily a judge let him out him. The actor and his wife now reside in Vermont and still face arrest if they ever leave the state. As for his career, that is far from over, but he still believes that they are still being targeted by this conspiracy group. He sends out videos and messages online spewing out bizarre and strange beliefs, but he’s focused and sane than he’s ever been.
7. Pamela Anderson-
Best known for her work in Baywatch, the actress has been in the entertainment industry for more than two decades. But in the past years, it seems like the actress was falling on hard times. In 2007, county records showed that the starlet owed over $250,000 dollars in penalties and tax. Then in 2009, it was reported that she owed $1.7 million dollars in tax debt. In that same year, L.A County records showed that five construction companies filed a lawsuit for bills and remodeling work on her Malibu home. One company claimed there was over $500,000 for labor and materials to work on her house. While the actress stated that she wasn’t broke, she released a statement saying her lawyers were reviewing the work to see if the bills were fair. She went on to say that if they were fair, they would be paid and if they weren’t then they wouldn’t.
6. Edward Furlong-
The former teen heartthrob made his mark starring as John Connor in the science fiction action movie Terminator 2: Judgement Day. He was regarded as a breakout star, and people praised him for his performance. He went on to star in several other films through the 90’s, but like several child stars when he reached his early twenties, he started using drugs which led to a crack in his career. Back in 2006, he stated that he was a heroin and cocaine addict. He said he would even have nightmares about abusing hard drugs and wake up, thinking he relapsed. That same year he married Rachel Bella and they had a son. But they split five years later and she alleged that their son tested positive for cocaine which ruled a judge to supervise Furlong’s parental visits. The actor stated that he was unable to make any child support payments because he was broke and was completely out of money. Since then he has faced a multitude of legal problems. Furlong was placed on three years probation after violating a protective order obtained by Rachael Kneeland in 2010. In March 2013, he went to jail for 180 days after violating another protective order prohibiting contact with ex-girlfriend Monica Key. Just two months later, he was arrested but agreed to do rehab in exchange for jail time. Even though the actor looks almost unrecognizable now and is far from his celebrity status, he’s trying to maintain good behavior and get himself on the right track.
5. Lena Headey-
Best known for playing an evil queen on HBO’s hit show Game of Thrones, the actress found herself struggling to stay afloat during a financial bind back in 2013. Headey filed a divorce from her ex-husband the year prior and claimed she was broke with less than $5 in her bank account. She was met with demands from her ex who wanted half of their $46,000 dollar tax refund from 2011 which might have been community property from their marriage. However, the actress states that she needed the money from the refund just to survive with her two-year-old son. The judge tossed out her proposal and rejected her ex’s motion to receive half the money. In 2016, she received a huge pay raise on the show and is reportedly making more than $1 million per episode, and her ex is also planning on raking in on some of that cash. He filed a new motion requesting that she pay the legal fees in their custody battle, which he claims is fair considering he is jobless.
4. Toni Braxton-
The songstress is best remembered for her iconic song “Unbreak My Heart.” She topped charts for weeks and earned the status as a global superstar. But the singer has been on a roller coaster of financial trouble since the late 90’s. Fifteen years after her claim to fame, she told 20/20 back then that she was thinking of posing nude for a Playboy cover to help pay the bills. Even though she earned over $150 million dollars in sales from her songs, she stated that she only received less than $2,000 from royalties. She also filed two bankruptcies, one in 2010 and another one just three years later. She mentioned her second bankruptcy was much more difficult and felt that she let her fans down. Braxton stated she hoped her financial struggles would serve as a warning for other young aspiring stars. The singer has learned a big lesson to managing her money better and in support of her two children, she is on a much better path to success.
3. Michael Vick-
The NFL quarterback is notably known for the horrific dog fighting scandal that ruined his career and soured his reputation. But before his 2007 conviction, he was already struggling to stay afloat. ESPN reported that he earned nearly $40 million per year during the height of his career. Once he started bringing in big bucks, he helped out thirty family members and friends, even buying his younger brother a new car every year on his birthday. But after his fighting ring was seized and he was sentenced, his earning power came to a stop. His first agent was also pursuing a $45 million dollar lawsuit from a 2001 contract disagreement. In 2008, they both settled on $4.5 million dollars before Vick finally declared bankruptcy. He lost most of his physical assets during the proceedings. Also, the Atlanta Falcons were also entitled to 20% of the athlete’s 37 million dollars signing bonus. Since Vick completed house arrest, the Falcons released him and he ended up playing for the Philadelphia Eagles. From 2011 to 2014 he experienced several injuries before going to the Pittsburgh Steelers in 2015. In 2016, he announced he was retiring at the end of the season.
2. Mike Tyson-
Ranked as one of the greatest boxers of today’s era, Tyson emerged as a junior boxer in the 1980’s. In the first 18 years of his career, The New York Times reported that he earned approximately $400 million. But during the peak of his stardom, he started blowing his cash on cars, jewelry, cell phones, clothing, limousines, parties, clothing and even Siberian tigers. One noteworthy expense was a gold chain that was more than $170,000 that he put on credit. In 2003, the heavy hitter found himself $27 million dollars in debt which lead him to file bankruptcy. Other debts included a $17.4 million dollar in tax liabilities, a $9 million divorce settlement from his ex-wife Monica Turner and a $100 million dollar lawsuit he was pursuing against Don King. In 2004, he received $14 million dollars from King, but unfortunately, this wasn’t enough to cover his debt. After his bankruptcy, he continued his boxing career to regain his reputation and even dabbled in acting. After a string of arrests and trying to abstain from alcohol, he released a book in 2013 and worked on turning his life around.
1. MC Hammer-
Decades after making it big in the music industry, MC Hammer made his mark by producing strong songwriting and award winning songs. By 1991, during the height of his career, he was making $33 million dollars a year. While touring, he kept a staff of 200 people to handle everything you can imagine. It was reported that he was dishing out $500,000 a month support everyone. The music mogul also bought a $30 million dollar home equipped with two swimming pools; gold plated gates and Italian marble floors, a 17 car garage, a tennis court and a 33 seat theater. He also dropped some serious cash to own a private jet, a stretch limo, and two private helicopters. But his glamorous lifestyle didn’t last too long. He faced several lawsuits that included copyright infringements from Rick James, claiming he ripped off the bass from two of his songs. It wasn’t too long until he blew through half of his fortune and by 1996, he was over $10 million dollars in debt. He was forced to sell his lavish mansion for half the price and even became a minister to help pay the bills. He also became a consultant for several tech companies. He’s also tried his hand in acting and has appeared in different films and tv products to rebrand himself.