Celebrities Whose Fortunes Took A Big Hit

Johnny Depp, a highly acclaimed actor in Hollywood, has reportedly earned over $650 million during his career. However, his extravagant spending habits are notable, including $30,000 monthly on wine, owning a $10 million yacht, and maintaining about 40 full-time employees, costing him $3.6 million annually.

At one point, Tyson was the youngest heavyweight boxing champion and had more than $300 million. But things took a rough turn with a divorce, a rape accusation, and time in prison. After returning to boxing, he made headlines by biting part of Evander Holyfield's ear. Tyson's money troubles led to bankruptcy, and he eventually retired in 2005.

We know about Michael Jackson's fame, but he faced financial problems too. From earning up to $100 million a year, he ended up struggling. He spent a lot on real estate, like Neverland Ranch, and invested $65 million in art projects. Legal fees to fight his 2005 charges also hurt, costing $20 million. Yet, his brand is still strong. After he passed, his estate managed to build his net worth to $500 million, making it the richest on this list.

Lindsay Lohan struggled to get acting roles because of her reputation for being difficult due to her partying lifestyle. Even when the work stopped, the partying, taxes, and legal fees didn't. It got so bad that Charlie Sheen had to help her with bills, TMZ reported. Her original net worth was about $28 million, but now it's estimated to be between $800,000 and $1 million.

In 2019, she was part of an MTV reality series called "Lindsay Lohan's Beach Club," centered around a resort she owned in Greece. Currently residing in Dubai, she occasionally returns to New York.

Courtney Love, known for her marriage to Kurt Cobain, inherited the rights to his music and Nirvana's after his 1994 death. Unfortunately, she struggled with drug use and extravagant expenses, leading to the squandering of over $27 million of the band's earnings.

Burt Reynolds, once a big Hollywood star, hit hard times after a pricey $80 million divorce, a restaurant that flopped, and bad investments. He had to declare bankruptcy in 1996. Although rumors of money troubles popped up in 2014 when he auctioned his things, he denied being broke, explaining it was due to business issues and divorce settlements. Sadly, he passed away from a heart attack in 2018 while rehearsing for a film.

Meat Loaf, the rock singer, filed for bankruptcy in the 1980s due to a legal dispute with a collaborator involving an album. Despite this, the singer of "Bat Out of Hell" found success in the years that followed, including taking on small roles in films.

MC Hammer, known for "U Can't Touch This", experienced a turbulent ride from riches to money troubles. Despite a life of luxury with fancy cars and private jets, he faced bankruptcy within five years, as per Celebrity Net Worth. He filed for bankruptcy in 1996 and owed money to different parties. After his downfall, he turned to preaching and even released religious music. Despite challenges, he attempted a comeback, including a 2012 performance with PSY at the American Music Awards.

Former 'Baywatch' star Pamela Anderson faced financial challenges when a tax bill hit during mansion construction in 2009, per People magazine. Unable to cover the costs for even one project, her financial issues escalated, leading to her appearance on California's list of residents with tax debts, as reported by ABC News. In 2020, Anderson's 12-day marriage to producer Jon Peters made headlines. Amidst the public statements, Anderson described Peters as controlling, while he expressed frustration, stating, "I dropped everything for Pam. She had almost $200,000 in bills and no way to pay it so I paid it. There’s no fool like an old fool."

Kim Basinger, the actress, declared bankruptcy in 1993 after losing an $8.1 million lawsuit for pulling out of the film 'Boxing Helena.' She also had to sell her $20 million investment in the town of Braselton, Ga.