This may seem surprising but there are a lot of celebrities who have become bankrupt because of their own actions. There are some who overspent their money. There are also some who lost everything because of bad investment deals. Here are a few celebrities who went bankrupt because of their own actions. 50 Cent used to be a really rich rapper but because he uploaded a revenge sex video of a woman, he had to pay for damages.
He also made some bad investment deals. Lisa Marie Presley, the daughter of the ever-famous Elvis Presley is said to have millions of debts amassed from spending and her huge credit card bills. M.C Hammer used to have an estimated net worth of 33 million but he lived in an exuberant manner and this has caused him to lose all of his money.
Sometimes being a celebrity has its perks. You get a lot of free stuff, you get to do whatever it is that you are famous for and have a gathering of fans who love and support you no matter what. But in other cases, being a high profile celebrity has its disadvantages as well. The biggest and most influential stars in hollywood can make over a million dollars per film and athletes can over 20 million dollars each year.
With all of this vast amounts of money available to them, it seems surprising that these people would also have money problems but it is true. Mike Tyson was one of these stars who made a lot of money, $30 million for each fights to be exact, and still ended up declaring bankruptcy. Also on this list are Donald Trump, 50 Cent, and Nicolas Cage.