Ah, the lifestyles of the rich and the famous. While some stars have managed to keep their fortunes, some have flat out blown their millions. That’s right, no matter how much these celebrities made in their early years, it was never quite enough to keep up with the luxurious lifestyles they created.
1990’s “U Can’t Touch This”, sent Stanley Kirk Burrell, better known as MC Hammer, to the top of the charts. Following his fame, Burrell spent millions employing a staff of 200 workers. He also bought 17 cars, a private plane, two helicopters, and a $30-million mansion, which included a baseball diamond, a 33-seat movie theatre, and multiple tennis courts. Those luxuries and a lawsuit over the pirated riff from “Super Freak”, lead him to declare bankruptcy in 1996.
The untamed actor is best known for his wild on-screen antics. Another thing he’s known for? Spending money on stuff no one should ever really own. While his multiple homes and cars aren’t uncommon for celebs of his caliber, the $276,000 dinosaur skull that he outbid Leonardo DiCaprio for might just be. All that and the pyramid tomb he had built in New Orleans caused Cage to owe an estimated $6 million in unpaid taxes during a single fiscal year.
Heidi Montag & Spencer Pratt
The reality TV couple made bank following their hit reality tv show The Hills. In 2013, however, Pratt stated that over the previous year, he and Montag spent their fortune during the Mayan Apocalypse scare. Convinced that an asteroid was going to destroy the earth, the couple recklessly spent their money tipped valets $200 a pop, buying cars for their friends, and dropping serious cash on whatever else they could think of.
Fresh off Tim Burton’s Batman in 1989, the starlet made a rather poor business decision. Basinger invested $20 million toward the town of Braselton, Georgia, hoping to convert it into a tourist hotspot. Needless to say, the endeavor didn’t pan out, causing her to file for bankruptcy in 1993.
Showing us that bankruptcy isn’t a new occurrence, Walt Disney’s first project, the “Laugh-O-Gram” Studio, was a financial failure in 1923. However, it was there that Disney came up with the inspiration for Mickey Mouse, as well as the rough cut of Alice in Wonderland. To end on a high note, Disney’s later years tell us that financial ruin isn’t the end of the road.
Rebound Finance’s Advice For These Celebs?
Consolidate your debt before it gets out of hand. When consumer debt, or debt of any kind, becomes too much to handle on your own, you need to take action right away. Rebound Finance can help with two great options, with a debt consolidation loan or through and a debt management program. For more information on how these options can help you tackle your debt, visit www.reboundfinance.com.