25 Rich And Famous People That Ended Up Poor

Posted by , Updated on March 1, 2018

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It’s hard to believe that famous people can end up being poor. Still, it happens. From lavish spending to expensive divorces, you might be surprised how fast a celebrity can burn through millions of dollars. It seems to always catch us off guard when we hear about the latest famous person falling from grace and going broke. Curious to see who these famous people are? These are 25 rich and famous people that ended up poor.

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25

Harry and Molly Dotey

no moneySource: http://www.appalachianhistory.net/2016/08/dotey-familys-going-from-riches-to-rags.html

Old patriarch Calvin B. Dotey amassed an amazing fortune from iron and was well known during his time in the 19th century. Unfortunately, his children Harry and Molly squandered all of their inheritance, buying up famous paintings, expensive clothes, and tons of toys. Their lavish lifestyle came to a screeching halt when the money dried up and they both died penniless. Harry died in an insane asylum and Molly died in an old woman’s home.

24

Francis Ford Coppola

ffcSource: http://articles.latimes.com/1992-07-01/business/fi-1253_1_latest-bankruptcy-filing

Famous director Francis Ford Coppola who directed both The Godfather and Apocalypse Now ended up bankrupt not once but three times in a nine-year period. In his third bankruptcy, he owed a long time partner $71 million. Many of his financial woes come from financing his films out of pocket with very little return.

23

Cyndi Lauper

lauperSource: http://popcrush.com/cyndi-lauper-bankrupt-celebrities/

Cyndi Lauper, the pop star who sang “Girls Just Want to Have Fun,” ran into money trouble early in her career. Her band’s first album tanked and her manager sued them for $80,000. Not having that kind of cash, she filed for bankruptcy while she worked at the GAP. However, once her pop career took off, her stars changed.

22

Meat Loaf

Meat_LoafSource: https://www.biography.com/people/meat-loaf-262383

Famous and multi-platinum musician Meat Loaf made great success with his music at first but a beef with one of his writers and some compounding problems lead to a horrible drug habit. When his second album didn’t do very well, things spiraled out of control. He ended up filing for bankruptcy in 1983.

21

Bjorn Borg

Björn_BorgSource: https://money.howstuffworks.com/personal-finance/budgeting/10-bankrupt-athletes6.htm

Famed for his tennis matches against John McEnroe, Bjorn Borg won his first Wimbledon at 20 years old. Retiring at 26, Borg lived in luxury, spending tons of money on his friends. He lived in Monte Carlo to escape the $40,000 in back taxes he owed in Sweden. After three marriages and two divorces, Borg went bankrupt in 1997.



Photo: 25. Pixabay.com (Public Domain), 24. Georges Biard, Francis Ford Coppola Deauville 2011, CC BY-SA 3.0, 23. Eva Rinaldi, Cyndi Lauper Australia 2017, CC BY-SA 2.0, 22. christopher simon, Meat Loaf, CC BY 2.0, 21. Björn_Borg.jpg: C Thomas derivative work: Fyunck(click) (talk), Björn Borg2, CC BY 2.0, 20. Googie man at the English language Wikipedia, SchillingNew, CC BY-SA 3.0, 19. Googie man at the English language Wikipedia, SchillingNew, CC BY-SA 3.0, 18. 350z33, Versailles home in Lake Butler Sound, CC BY-SA 3.0, 17. Wikipedia Commons.com (Public Domain), 16. Bob Jagendorf from Manalapan, NJ, USA, Willie Nelson 2009, CC BY 2.0, 15. Wikipedia Commons.com (Public Domain), 14. Umusic, Toni Braxton press photo 2015, CC BY-SA 4.0, 13. Allan Warren, Debbie Reynolds 6 Allan Warren (cropped), CC BY-SA 3.0, 12. Wikipedia Commons.com (Public Domain), 11. Gerald Geronimo, Nicolas Cage 2011 CC, CC BY-SA 2.0, 10. Jerry Crawford (jcrawford3505), Entertainer Sinbad, CC BY-SA 2.0, 9. Brian Solis, TechCrunch August Capital – MC Hammer, CC BY 2.0, 8. Brian Birzer http://www.brianbirzer.com, Mike Tyson Portrait lighting corrected, CC BY 2.0, 7. Alan Light, Kim Basinger (2105860771) crop, CC BY 2.0, 6. Wikipedia Commons.com (Public Domain), 5. Wikipedia Commons.com (Public Domain), 4. nicogenin, Johnny Depp (July 2009) 2 cropped, CC BY-SA 2.0, 3. photo by Alan Light, Burt Reynolds 1991 portrait crop, CC BY 2.0, 2. Wikipedia Commons.com (Public Domain), 1. Casta03, Michael jackson 1992, CC BY-SA 3.0

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