12 Big Time Celebrities Who Lost Their Massive Fortunes

There are, on occasion, celebrities that ride the wave of success a bit too hard, however, and end up penniless despite their massive appeal.

Let’s dive into them and see how many you know.

So famous was the King of Pop that he was tagged as the highest-paid entertainer twice by Forbes. Unfortunately, lawsuits and large spending accounts plagued his estate before he died in 2009.

Michael Jackson

Stints in rehab and lavish spending, like $103,000 monthly rent on a pricey flat in London, have severely dented the actress’s wallet.

Lindsay Lohan

By 1990, the star filed for bankruptcy claiming $20 million in debt. The Internal Revenue Service sued him in 2005 for failing to pay the $1.8 million he owed in taxes on a house he sold.

Wayne Newton

In the early 90s, the Batman actress was the center of several nasty lawsuits that quickly drained her finances. She also sunk $20 million into a small Georgia town she’d hoped to turn into a tourist stop or production studio.

Kim Basinger

Stephen, the youngest of the Baldwin brothers, doesn’t seem to like paying taxes. This issue has caused him serious financial woes. At one point, he was arrested and served five years of probation for three consecutive years of failing to pay taxes.

Stephen Baldwin

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