Celebrities are just like us and sometimes struggle financially. Some take on additional roles, others sell assets and some file for bankruptcy to gain financial relief.
Aretha Franklin – sued by her condo association for over $11,000 in past due condo association fees.
Michael Jackson – at the time of his unexpected death in 2009 he was close to foreclosure on the famous Neverland Ranch.
Nicolas Cage – he is one of Hollywood’s biggest earners but also biggest spenders. At one point, he owed over $6,000,000 to the IRS for 2007 taxes.
Mark Twain – after investing in a publishing house that went bankruptcy, Twain was forced to file for bankruptcy in 1894.
Dennis Rodman – after winning championships with the Chicago Bulls, Rodman claimed broke and unable to pay bank child support. In 2012, he was claimed to owe over $800,000 in back child support.
Kim Basinger – in 1989, Basinger purchased an entire town with the intention of making a tourist attraction or production studio. Instead she filed for bankruptcy and declared a loss.
Toni Braxton – she was diagnosed with Lupus and owed thousands in medical bills. She’s filed for bankruptcy multiple times for financial relief.
Stephen Baldwin – he filed for bankruptcy in 2012 on over $70,000 in credit card debt.
Gary Busey – he filed for bankruptcy protection but did not offer and assistance for his tax debt. He claims to owe over $451,000 to the IRS.