1. 50 CentSource:Splash News
Don’t be fooled by 50 Cent’s lavish bling. Forbes estimated the rapper was worth about $155 million in May, but 50’s lawyer said in court Tuesday that his client’s worth is actually only $4.4 million. P.S. – apparently, he rents most of his bling and returns it after it’s been worn… yikes.
Rihanna had $11 million in the bank at the start of 2009, and $2 million at the end of the year. Plus, her finances doubled, leaving RiRi in the financial gutter. She blames her airhead accountant, who gave her the green light to buy a $7 million+ mansion. She ended up selling the house and losing $2 million on it.
3. Young BuckSource:Splash News
Platinum rapper Young Buck filed for Chapter 13 bankruptcy in 2010, claiming it was “not because [he was] broke.” It’s too bad he never paid back 50 Cent for all the money he borrowed, considering today’s events…
4. KelisSource:Splash News
You probably remember Kelis for her milkshake, (which brings all the boys to the yard), but don’t be fooled by her confident swag just yet. When her ex Nas decided not to pay Kelis any money in child support for their baby, she was left with basically nothing in the bank. Pretty sad, if you ask us.
5. Donald TrumpSource:Getty
We know, we know. Donald Trump is far from broke… BUT, the truth is, Trump has filed for bankruptcy FOUR times in his life – in 1991, 1992, 2004, and 2009. Of course, now he’s worth billions again. Sigh.
6. Mike TysonSource:Splash News
Mike Tyson was reportedly worth $300 million, but blew almost all of his money by 2003. The famous athlete managed to pick himself back up with his one man show “Undisputed Truth,” which became an off-Broadway hit and an HBO special.
7. Lady GagaSource:Splash News
Lady Gaga admitted she went broke in 2009, after spending millions on costumes for her Monster’s Ball tour. Gaga said she was left with millions in debt after the production.
In 2013, ’90s comedian Sinbad filed for Chapter 7 bankruptcy, claiming he owed $10,991,715 in debt. Meanwhile, he only had $131,000 in assets. It was his second time filing for bankruptcy in four years.
9. Allen IversonSource:Splash News
We learned in May that 11-time NBA All-Star Allen Iverson, who earned over $154 million during his 15-season career, is reportedly in deep financial trouble due to “money mismanagement.” Iverson claims the rumors are false, but signs do point to a financial struggle.
TLC’s “T Boz” (left) first filed for bankruptcy in 1995, due to a famously short-shifting record deal. But her financial troubles didn’t end there. She filed again in 2011, after accruing pretty hefty medical bills due to a brain tumor and Sickle Cell Anemia. Meanwhile, the entire group declared debts totaling $3.5 million.
11. Joe FrancisSource:Getty
Joe Francis, the douchey mogul from Girls Gone Wild declared bankruptcy in 2013 after owing more than $16 million in disputed claims.
12. Lindsay LohanSource:Getty
It turns out, Lindsay Lohan isn’t the most financially responsible celebrity in Hollywood… shocker. We know this probably isn’t the most surprising name on the list, but it might be one of the most depressing. The IRS had to take over her bank accounts after she skipped out on paying over $900,000 in back taxes.
R&B artist Ginuwine went “Ginuwinely” broke in 2014, after his divorce with ex-wife, rapper Solé. Robert Rives, executive producer of his album “The Bachelor,” claimed he was owed royalties from a $1.25 million five-album deal Ginuwine signed with Sony.
14. MC HammerSource:Splash News
“U Can’t Touch This.” MC Hammer took living large a little bit too far. He spent so much money that by 1996, he was over $13 million in debt.
15. Toni BraxtonSource:Splash News
R&B star Toni Braxton went bankrupt in 2012, thanks to lousy royalty checks. She somehow managed to score a $3 million mansion next to Justin Bieber only 6 months later, though…
16. George ClintonSource:Splash News
George Clinton is another victim of signing contracts that give most royalties to the record label, not the artist. He was forced to file for bankruptcy in 1985, and has been struggling to make ends meet ever since.
17. Michael VickSource:Splash News
Michael Vick went bankrupt while he paid his debt to society. Vick spent time in federal prison for his conviction on dog fighting charges, and as of 2014 has paid back most of the rest of the debt he accumulated.