Four Stars Who Went Broke and Are Proof That It Can Happen to Anyone
Too much of anything is bad, the famous maxim goes. It is true on so many levels and more so in money matters. If you are not keen enough to be wise in spending and saving, then all the hard-earned moolah on your pocket may soon vanish, and it’s not something you can muster to imagine, worse, to go through.
Celebs are far from immune to this unlucky circumstance and so are businessmen and people with day jobs. Yes, they can make their fortune with just a few projects but they can lose the fruit of their hard work in a blink of an eye, too.
The show host may not look like it but the King was not always living like royalty. In the late 1970s, Larry had a lot of creditors to pay and had to file for bankruptcy after knowing that he had $300,000 in debt!
The recognized radio personality’s image was tainted immensely when his ex-business partner accused him of grand larceny and although charges were later dropped, his reputation greatly suffered. Back then, he wasn’t in the field of journalism all the time but he eventually returned to what he does best. In 1978, the first episode of the “Larry King Show” was aired on WIOD.
Because of his many film credits, you would expect Johnny Depp to have a sky-high net worth. Although it was true for a time, it significantly declined because of a lot of reasons. You would not have any idea that his money situation was becoming dim if not for the countersuit filed by his former managers. This was after the “Pirates of the Caribbean” star sued them for his financial problems, but in defense, they said that the actor’s issue was overspending more than his means.
The 55-year-old’s situation further suffered a blow during the messy and pricey divorce from ex-wife Amber Heard. Johnny’s fortune was once $400 million and it’s not really a surprise if you would analyze some of his wildest expenditures, including paying $3 million just to fire the ashes of Hunter S. Thompson out of a cannon.
“Unbreak My Heart” singer Toni Braxton was highly popular in the 1990s but not so much today. Although her hits were phenomenal at the time, this did not necessarily translate to a fortune because according to an interview in 2012, she revealed that she only got less than $2,000 in royalties for her first contract. Plus, the crooner admitted she was in debt to the recording company.
By 1998 she filed for bankruptcy, which may have stemmed from splurging for home décor. Toni tried coming back on the busy scene once more but unfortunately, she had about with lupus, a life-threatening disease that further hindered her chance at redeeming herself. She had to file for another bankruptcy.
Abby Lee Miller
Choreographer Abby Lee Miller, who was known for being the tough-talking dance guru in “Dance Moms,” faced the music in 2016 when she was caught hiding her earnings from the Lifetime show. Plus, she was said to have smuggled A$120,000 into America.
What she didn’t know was that her life broadcast on TV may have paved way for people to know that she’s making enough money for a luxurious life and appear not as broke as she claimed to be.
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