Being rich comes as a given for many celebrities but they don't always retain the money that they earn. Though they earn millions, celebrities still tend to spend a large amount and manage to go into staggering debts that they sometimes can't repay. Whether it's their expensive life, divorce settlements, or just not paying their taxes, the reasons for the celebrities going broke may vary, but it's more common than you might think. These are some of the most popular celebrities who went broke:
At the time of his death, Michael Jackson was 500 million USD in debt due to frivolous spending. After his death, however, his earnings haven't buckled down. If anything, they've gone up. His posthumous documentary was one of the highest grossing musical documentaries of all time. The music icon was the top of Forbes' list of top-earning dead celebrities and has earned over a billion dollars since his death in 2009.
Marvin Gaye was one of the greatest singers of his age, even during his lifetime. Unfortunately, he had to file for bankruptcy when he divorced his wife as he didn't have 600,000USD that he owed her. He released his hit single, Sexual Healing shortly afterward and was on his way to making a successful comeback until he was shot by his father on the eve of his 45th birthday.
The Baywatch star used to receive 60,000 USD per episode for the show that's being turned into a movie due to release in May this year. Anderson's lavish lifestyle was too expensive for her means and she was forced to sell off her Malibu house in order to pay off her considerable debts.
Lindsay Lohan's party-girl life that got her routinely featured in tabloids also got her hundreds of thousands of dollars in debt from unpaid bills and taxes. She was even on the verge of being homeless from being behind on her rent. Charlie Sheen allegedly loaned her some money to help her pay it off. The actress has since tried making a comeback multiple times but hasn't succeeded yet.
Brendan Fraser hurt his back after Hurricane Sandy in 2012 and cited medical issues as the reason for the decline in his earnings. He was unable to afford to pay his annual alimony of 900,000 USD to his ex-wife. The Mummy star has not been seen in any big roles since the past few years but he still retains many fans that hope for his return to the Hollywood A-List.
Which of these celebrities financial troubles surprised you the most? Let us know what you think about these broke celebrities in the comments below.