11 celebrities you might not know have had serious money problems
When a celebrity remains in the public eye for long enough, we all just assume that they are swimming in cash. It doesn't help when they're wearing expensive jewellery, designer outfits and driving luxurious cars to glamorous events.
However, there are plenty of celebs who have gone through some serious financial troubles, but just managed to keep up the image of being wealthy. Even if most of us didn't know anything was wrong, there were some rock-bottom moments for the world's biggest stars.
1. Johnny Depp
The actor is currently in the middle of a lawsuit with his former business managers - after he claimed that they have put him in millions of dollars of debt. He filed a $25 million lawsuit for negligence and fraud in 2017, but his extravagant spending hasn't helped. The actor has allegedly spent $2 million on houses, boats and wine.
2. 50 Cent
The rapper was recently discharged from bankruptcy after paying off his debt - $22 million's worth. But according to Fiddy, it's not a big deal. "Bankruptcy wasn't a big deal for me," he told The Guardian. "It was just me getting my discount. Reorganization isn't broke, you know."
3. Mike Tyson
Tyson filed for bankruptcy in 2003, with more than $27 million worth of debt, $13 million of which he owed to the IRS. He had earned $400 million over two decades, but apparently spent it all on extravagant jewellery, houses, cars, and... Siberian tigers.
4. Cyndi Lauper
The 'Time After Time' singer declared bankruptcy before she even released her first solo album. She was initially the frontwoman for the band Blue Angel, and after their debut album flopped and their manager sued the band for $80,000, she had to declare bankruptcy, put her career on hold, and work in retail.to work in retail.
5. Marvin Gaye
The singer reportedly owed $600,000 in alimony payments when he was forced to file for bankruptcy back in 1976. In the end, he cut a deal with his ex-wife to pay her back with the royalties on his next album, which - ironically enough - was about their divorce.
6. Kim Basinger
Basinger breached an oral contract with Main Line Pictures when she pulled out of the film 'Boxing Helena' in 1993. She owed the studio $8 million, eventually filing for bankruptcy. Four years later, the actress settled with the studio for $3.8 million.
7. Drake Bell
According to the actor, his income sharply dropped from $400,000 to $14,000 in a single year. In 2014, he declared bankruptcy, claiming he owed over $500,000 as well as back taxes. Unable to pay, he had to foreclose on his $2 million home.
8. Nicolas Cage
According to Forbes, Cage earned $40 million in 2009, but his spending was still a problem. That year, the actor foreclosed on several of his properties and received a $6.2 million tax lien from the IRS. He sued his money manager for negligence and fraud, but the manager alleged that it was all Cage's fault.
It was claimed that the actor had blown through $33 million on dozens of vintage cars, four luxury yachts, rare art, expensive jewellery, 15 homes around the world - including two castles in Europe. These lawsuits have now been settled, but he is still having to sell various properties, including an entire island in the Bahamas.
9. Michael Jackson
Allegedly, Jackson was $400 million in debt at the time of his death in 2009. Before his unexpected death, the King of Pop had intended on getting out of his debt - which was earned through various unpaid loans and expensive lawsuits - by going on tour.
10. Floyd Mayweather
Mayweather may have the nickname 'Money', but Deadspin reported that Mayweather has owed the IRS for over a decade. A failure to pay taxes resulted in $22.2 million in debt. After his high-grossing fight with Conor McGregor, it's believed he will come out of retirement (again) to settle his debts.
11. MC Hammer
Ever wonder where MC Hammer went? Well, it may have had something to do with the outrageous spending spree that left him in debt. 1991's 'U Can't Touch This' helped him bank $30 million, but by 1996 he was $13 million in debt. He had bought a $1 million mansion with $30 million worth of adjustments, with 200 on his staff. Oh - and then there are the 19 racehorses he kept in his own stable.
While some of these cases involved bad luck, or are caused by factors unknown to the public, a lot of the problems seemed to stem from overspending. I suppose once you start bringing in millions of dollars in each year, it can be easy to think you're invincible - but the IRS is clearly on the lookout.