The Celebrity Bankruptcy Cases That Will Shock You

Believe it or not, celebrities have financial challenges all the time. Being famous doesn’t necessarily mean powerful and rich. Even though many stories of celebrities made their way up, there are quite a few who did not do anything to get rich.

They call it easy money. And if there’s anything about easy money that all people know but celebrities never seem to think of, is that easy money comes and goes fast. Being all glamorous and inspirational also costs a lot of money. This year has made everybody poorer but the best thing about it is that it made us poorer together. When you’re down, you need to remember that you’re not alone and that you will be able to get through this. In this article, we’re going to show you how a few rich celebrities went bankrupt.

Mike Tyson

Yes, Mike Tyson went bankrupt. You wouldn’t think someone who owns a couple of tigers and some of the most expensive cars in the world would run out of money but ironically enough, he did. What is even more humorous is that Mike is in a lot of financial trouble because he did not hire a financial consultant to help him spend all this money properly. He owes the government taxes that he doesn’t know how to pay for. He also owes a lot of businesses and companies a lot of money. All the gold and diamond necklaces he bought and limousines that he drove around in weren’t particularly paid for. Remember, buying a bathtub that costs more than a million dollars is never a good idea, even if you’re Mike Tyson!

Branden Fraser

We all remember the actor from the film “The Mummy”. Branden had a few unfortunate events that led him to file for bankruptcy at a point in his career. It all started with a very bad divorce that cost him tons of money and forced him to pay child support. However, you think a big blockbuster movie star can make enough money to handle a divorce and take responsibility for his child. But Branden disappeared from movies and took fewer roles because of an injury that made it impossible for him to work for many years.

He was involved in some kind of accident and was injured. If you would like to avoid what happened to Branden you need to make sure you spend enough money on good insurance plans and hire lawyers that will ensure that situations end in your best interest. Professional lawyers from Abels & Annes, P.C state that many personal injury cases that result in financial hardships are easily avoided by filing claims with proper documentation. This is something that you will not be able to do in case of an injury which is why you should hire a lawyer that will take care of everything for you. Lawyers can also guarantee the compensation for medical bills and time taken off of work because of an injury.

Heidi Montag and Spencer Pratt

If you’re a fan of reality TV, then you remember those two from The Hills. The Speidi became multi-millionaires in a few years and spent them all in their 20s and went bankrupt. The reason behind spending the biggest bulk of the cash was the end of the world. Yes, the end of the world. They believed the world would end in 2012 because of the rumors people shared globally and therefore decided to spend around 10 million dollars without worrying about tomorrow. They were in so much trouble they had to move back in with their parents and sell most of their possessions. You will find records of them admitting to gifting random people with a ridiculous amount of cash because there literally is no tomorrow so why not.

People dream of becoming celebrities because they think they lead a perfect life filled with rainbows and butterflies. Because of the image celebrities make sure to maintain, most of us are misled into thinking they don’t go through the hardships normal people go through but that’s not entirely true. In reality, famous people sometimes face problems that normal people don’t because of how they appear to be. Normal people tend to find it hard to feel bad for someone who earns millions and has plenty of assistants and secretaries. A lot of famous people wish they could go back to being nobody and enjoy performing daily tasks as ‘normal’ people do. The lesson learned here is that everyone has problems, and just because you think someone has it all, doesn’t mean that they are not suffering from similar issues to you.

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