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We often hear about celebrities making big bucks through movies, music and similar ways. You might wonder how could someone as wealthy as them ever have any financial issues. Maybe you can find an answer through these Hollywood celebrities who went bankrupt.
A lot of factors affect one's financial downfall. But, the reasons that lead to the bankruptcy of celebrities are very unusual to common people. We have seen how many celebrities who were once homeless are now extremely wealthy.
Many celebrities fail to realize or ignore the fact that they owe the government a huge amount of tax because of the amount of property they own. But, none likes to just give away a huge chunk from their wealth to the government.
They rather use that amount in building a fancy house for themselves or get an expensive ride. The 'Ghost Rider' actor Nicolas Cage owed the government about $14 Million of taxes. He then promised to pay off his taxes by selling houses, personal yachts and many other things.
Isn't only the non-governmental members who go bankrupt. Even the presidents of the United States have sailed on this boat. Abraham Lincoln, one of many presidential candidates of the United States went bankrupt too. He cleared all his taxes only in 1884.
Many celebrities have become homeless due to extensive amount of illegal practices like drug abuse and gambling. Some have lost their lives, some families and some spent time in rehab and prison to get treated for their addictions.
Even in your wildest you wouldn't have imagined that these celebrities could ever lose everything they have and ask for financial help from the government. Let's look at these Hollywood celebrities who went bankrupt and surprised the world:
The 48 years old American-Canadian actress Pamela Anderson is said to have filed for bankruptcy due to her diva like expensive lifestyle.
Well, we all by now know what exactly made Lindsay Lohan go bankrupt. She couldn't pay debts back in spite of borrowing $100k from Charlie Sheen.
The rapper filed for bankruptcy in July 2015. His lawyer said his net worth was just $4.4 Million when his ex-girlfriend filed a lawsuit for $5 Million as he posted her sex video in absence of her knowledge.
Mike Tyson, the boxing champion's lifestyle and addiction towards sex and drugs made him go bankrupt. The net worth of the amount he earned through his career was $300 Million.
Wouldn't you go bankrupt if you owned a house whose annual maintenance costs you $10 Million? Michael Jackson had to sell his house to pay the taxes.
'The Mommy' lead actor was supposedly earning $200k every month. He went bankrupt after he stopped working due to an accident that left him immobile for months.
Though Donald Trump didn't file for bankruptcy himself, his corporate has. His businesses have filed for bankruptcy not once or twice, but four times!