From Rich To Penniless: 12 Celebrities Who Have Gone Broke In The Last 10 Years – You’ll Be Surprised! (With Pictures)

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BEVERLY HILLS, CA - FEBRUARY 26: Jackie Chan and Chris Tucker attend the 2017 Vanity Fair Oscar Party at Wallis Annenberg Center for the Performing Arts on February 26, 2017 in Beverly Hills, California. (Photo by Taylor Hill/Getty Images)

Celebrities Who Have Gone Broke – There is an old saying: “Easy Come, Easy Go.” Well, celebrities can definitely agree. Maybe it didn’t come that easily, but the quickly earned money can surely disappear as fast as it came. After earning dozens of millions during their careers, it is hard to imagine how in the world these famous people manage to lose their fortune. It seems that you need to have a special kind of talent to declare bankruptcy after obtaining that much money.

You can probably guess the cause – bad management, a crisis in the world of finance, divorces, not paying taxes or just being greedy; the fact is solid – all these celebrities went bankrupt at least once. Their stories can teach us lessons: every time you face financial problems, you can say something like: “This is nothing. If 50 Cent can lose all those millions and be just fine, why should I stress about 2,000$?” It can be a good stress reliever; don’t you think?

These celebrities prove that being rich and famous doesn’t necessarily go hand in hand. If you ever come to the point that you wish to be in their place, consider questioning yourself. They also have problems like we do, they make bad decisions, and face difficulties managing their money. Anyone can face money issues sometimes. You can’t avoid that, and if you have more money, more problems might emerge.

That’s another thought to keep you worriless. Why worry if it’s still gonna happen? Here are 12 celebrities who went from filthy rich to penniless:

12. Toni Braxton

From Rich To Penniless: 12 Celebrities Who Have Gone Broke In The Last 10 Years - You’ll Be Surprised! (With Pictures) 1

Bankruptcy is a sign that you’re beaten to the ground, leveled. But, some people might use it as a tool to avoid massive taxes, bills and obligations. You know the song Unbreak My Heart? Toni Braxton is the author of this all-time classic. You’d think that she’s a fragile person after you hear her sing about a broken heart and tears, wouldn’t you?

Well, it turns out the singer loves to live the life of fraud and misguidance; she accumulated over 50 million dollars of debt by not paying taxes, bills or for services. On the big list of people she owes money to, there is AT&T, multiple healthcare providers, several hotels, jewelers from Tiffany and of course, the IRS. This woman filed for bankruptcy three times so far; 1998, 2010 and 2013. The last time she filed for bankruptcy is the most interesting one; Braxton bought a 3 million dollar mansion shortly after the bankruptcy filing. Isn’t this a bit suspicious?

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is an Associate at MediaHoarders. Communication Manager & Social Media Strategist with a keen interest in writing. Jeffery is a huge fan of the Black Panther fictional character. He is currently at crossroads when it concerns his interests in Hip-Hop & Rock music. e-mail: [email protected]

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