I’m sure you’ve heard the news of rapper 50 Cent going ‘bankrupt’, it has been trending for the past 48 hours everywhere (including here) and there has been plenty of confusion.
How can a man with a net worth of $150 million become bankrupt so quickly, is what people were craving to find out, and we covered the crux of it here.
But we’re not here to solely discuss 50 Cent’s lack of cents (I know, that joke has been done), we’re here to highlight other celebrities who filed for bankruptcy while simultaneously making us realise that if these guys were officially ‘bankrupt’ then WTF does that make us (or me, more specifically)?!
Anyway, here’s the list…
Despite being one of the highest earning boxers in history, earning over $400 million during his glittering 20 year career, Iron Mike filed for bankruptcy in 2003 after accumulating debts of up to £23 million – thanks to a very weighty divorce settlement for Robin Givens and around $18 million collectively owed to the IRS and HMRC.
Today, he’s worth around $1 million, which of course is pretty tidy. But when you consider that he completely squandered over $300 million, it puts it all into perspective. And to be quite honest, it makes me feel a bit sick.
You’re probably wondering why this orange-faced wig-wearing twat is on here, but Donald Trump has actually filed for bankruptcy four times in the past – in 1991, 1992, 2004 and 2009. However, Trump filed for corporate bankruptcy on all of those occasions, and it’s important to understand the VAST contrast between that and personal bankruptcy.
Today, he’s worth about $4 billion. And I don’t want to waste anymore of my precious finger movement on him.
Where else on the internet can you find Kerry Katona on the same list as Donald Trump? Nowhere. Welcome to UNILAD.
Reality ‘star’ Kerry Katona has never been shy of promoting her money troubles. The mother-of-four and former Atomic Kitten singer reportedly amassed around £9 million during the peak of her career, which included winning I’m A Celebrity, Get Me Out Of Here, a £1 million book deal, being the face of frozen food and having a column in OK! Magazine. But she after her I’m A Celebrity appeal wore off, she was dropped by Iceland, sacked by OK! and had her TV show with MTV axed. The industry is brutal.
She was eventually made bankrupt by the High Court after failing to pay the final £82,000 of a £417,000 tax bill.
It’s pretty straightforward for George Best. The former Manchester United wizard said it himself: “I spent 90% of my money on women, drink and fast cars. The rest I wasted.” You can’t really argue with an honest man.
Best suffered from bankruptcy and alcoholism for the majority of his life.
Remember Gary Coleman from hit US show Diff’rent Strokes? Well, at one point he was worth around $7 million.
But the former star didn’t just blame himself for his bankruptcy. He also blamed his accountants, adoptive parents, former agents and lawyers. So, you know, at least that made him feel a little bit better about it.
Meatloaf battled with financial problems at various stages in his career, but mainly during the 1980s, when he faced struggles with his music and had to fall into bankruptcy.
However, after the release of Bat Out Of Hell II: Back Into Hell, he managed to find his feet again and today is apparently worth around $25 million.
Boxing legend George Forman filed for bankruptcy in the 1980s after spending the majority of his boxing fortune, but everything changed for Forman when Russell Hobbs approached him and asked him to be the face of the fat-reducing grill. The rest is history.
Today, George is reportedly worth around $250 million, although he never discusses his finances with anyone.