Celebrities love to spend their money on just about anything. From expensive cars to lavish mansions in the Hollywood Hills, these stars will stop at nothing to have the best of the best. So while celebrities like LeBron James or Katy Perry are out purchasing hot rods and diamond necklaces, or casually posting their excursions on their private jet on Instagram, we can’t help but to feel a little sting of jealousy.
However, there have been quite a few stars that just don’t know how to say no when it comes to spending their millions on ridiculous things. Sadly, these celebs fall into spirals of debt, file for bankruptcy, and even have to sell their million dollar homes. We definitely don’t feel sorry for these stars, especially when we practically saw it coming. Most of the celebs on this list would fall into the C or even D list of stars in Hollywood, so that’s why we have given them the proper title of being “washed up.” You know, those celebrities that sort of had talent when it was relevant and now can’t land an acting gig to save their lives?. Let's check out these washed up celebs who used to be rich.
15. Courtney Love – Lost About $27 Million Of “Nirvana Money”
Courtney Love is most famous for being married to Nirvana singer Kurt Cobain, until his untimely death in 1994. Courtney was a singer and guitarist herself, but her fame didn’t compare to the enormous success and influence Nirvana had on their fans. Most of her wealth came from Kurt’s band. After his death, Courtney inherited Kurt’s writing and publishing rights, which were valued at a staggering $130 million and $150 million. However, Courtney admitted that she “lost about $27 million” of “Nirvana money” and that the rest of her millions went to lawsuits and legal battles between herself and the surviving members of Nirvana. She also admitted that some of Kurt’s work was even lost or stolen, resulting in the loss of millions of dollars.
14. Lindsay Lohan
Lindsay Lohan was once known as the “girl next door,” landing roles in numerous movies as a kid such as The Parent Trap, Disney’s Life Size, and Freaky Friday, making her one of the most recognizable stars in Hollywood. As she got older, her acting career started to fade as she began partying with the likes of Paris Hilton and Britney Spears and falling into a life of drugs. Lindsay was arrested in 2007, having to pay a $100,000 bail and ultimately hit rock bottom when she was hospitalized for her drug addiction. Today, it appears that the star is getting her life together, but her bank account truly suffered.
13. Burt Reynolds – Almost Became Homeless With Financial Problems
In the 1970’s, Burt Reynolds was one of the sexist and biggest stars in Hollywood. He had a bunch of hit films, which included, Smokey And The Bandit, Deliverance, and The Longest Yard. These films made him millions and he became one of the richest men in Hollywood, but that all changed as he got older. Now, at the age of 81, Burt isn’t living large. In fact, he almost became homeless with financial problems. His divorce from actress Loni Anderson stripped him from millions, and addictions to pills and alcohol didn’t help either. In 2014, Burt had to allegedly sell off many of his possessions and memorabilia to pay back a debt of almost $10 million. Burt refuses to state that he’s broke and is probably keeping his fingers crossed that his Florida home doesn’t go into foreclosure anytime soon.
12. Janice Dickinson – Lack Of Assets And Lack Of Income
In her prime, Janice Dickinson was the world’s most successful model. Modeling in the 1970’s through the 80’s, Dickinson was unstoppable, appearing on the covers of numerous magazines and working with the likes of Valentino, Gianni Versace and Oscar de la Renta. Dickinson has been on the cover of Vogue, both U.S. and International editions a total of 37 times! In her late years, she made a hit while on the modeling competition series, America’s Next Top Model. However, in 2013, the star filed for bankruptcy after accumulating almost $1 million in debt. When faced in court with City National Bank, to whom she owed $300,000, the judge ordered she pay $100,000 in a span of three years. City National Bank let out a statement that suggested Dickinson would never be able to pay back the money due to her “age, lack of assets and lack of income.”
11. Mike Tyson – Went From Having $300 Million To Losing It All And Going Bankrupt
You would think the heavyweight-boxing champion of the world would be a multi-millionaire, but sadly, that isn’t the case for Mike Tyson. Now retired, Mike Tyson went from having $300 million at one point to losing it all and going bankrupt. During the early 90’s, Tyson’s life was falling apart, going through a divorce and then firing his longtime trainer Kevin Rooney. He began losing major fights and hit a rough patch when he was arrested and served three years in prison. Tyson made a small comeback in 1995, but two years later, his famous stunt of biting a chunk of opponent Evander Holyfield’s ear off truly showed that he was done with his career. He retired in 2005 and since then, played a small role in the film The Hangover, and has been in other small TV appearances.
10. Erin Moran – Net Worth Was Said To Be $50,000
Erin Moran was best known for her role as Joanie Cunningham on Happy Days. When the show ended, Erin was only 22 and having a tough time finding other acting gigs. She was cast in Joanie Loves Chachi, but the series ended with only a mere two seasons. Moran openly discussed her time on the set of Happy Days and how she was pressured to lose weight and wear seductive clothing. Later, Moran admitted that she was suffering from depression because she couldn’t find any jobs. Her net worth is said to be only $50,000. In 2010, she lost her home in California to foreclosure. For the past years, it was reported that Moran had issues with drugs and alcohol. Sadly, she passed away April 2017, at the age of 56.
9. Terrell Owens – Couldn’t Keep Up With Child Support Payments
Retired football player Terrell Owens, was once one of the best wide receivers in the NFL. Owens played for the San Francisco 49ers, Philadelphia Eagles, Dallas Cowboys, Buffalo Bills and the Cincinnati Bengals. At his peak, Owens earned millions and earned nearly $70 million during his career in the NFL. Terrell Owens went through a tough time in 2011 when he told a judge that he was completely broke. Owens stated that he had no monthly income because he wasn’t playing football and was pleading to reduce payments for four separate child support cases where he would pay a total of $60,000. But, that’s not all. Owens also reportedly pays $63,000 a month for the homes his baby mama’s live in. His own home in Georgia is in foreclosure and he is currently residing in an apartment in Los Angeles. Owens’ net worth is literally $0. Ouch.
8. Heidi Montag and Spencer Pratt – Didn’t Pay Rent For 6 Years
Heidi Montag and Spencer Pratt were the infamous couple on MTV’s The Hills. Betraying her best friend, aka Lauren Conrad, and dating, then eventually marrying the ruthless Spencer Pratt, Montag made somewhat of a name for herself in Hollywood. The villainous duo made a small amount of money while starring on the reality series, however that didn’t last long. In 2016, the couple admitted that they haven’t paid any rent for the past six years because they had been living in Pratt’s parent’s rental property. The couple eventually appeared on TV shows like British Celebrity Big Brother and I’m A Celebrity…Get Me Out Of Here, and claim they appear on reality television shows every year. Whatever they’re doing, it doesn’t seem to be working. Maybe the couple should learn a thing or two on how to be nice.
7. Toni Braxton – Spent $2.5 Million On Makeup And Clothes In 2 Years, and Filed For Bankruptcy Twice
Toni Braxton has a singing career that has spanned 25 years. She has sold over 40 million albums internationally and had produced seven albums, five of them reaching Gold or Platinum status. Anyone with those figures would have a lot of money in the bank, but for Braxton, that’s not the case. Braxton reportedly has an issue with spending money. The singer filed for bankruptcy in 1998 and in 2010, she had to file for bankruptcy yet again, stating she was in $50 million in debt. Toni Braxton owed all that money to the IRS, Tiffany & Co, and big name department stores. It was also said that she spent a whopping $2.5 million on makeup and clothes alone in just two years. Today, Toni Braxton makes about $1 million a year doing shows overseas and personal appearances.
6. Pamela Anderson – Couldn’t Spend Her Money Wisely
Pamela Anderson is by far the most well known Playboy Playmate. She has graced the cover of Playboy 13 times and is likely the most recognizable face in the industry. She was also the star on the hit show Baywatch, and during its peak, Anderson would earn $300,000 an episode. However, her net worth of $5 million is nothing compared to what she could have had if she spent her money wisely. The model caused a stir when her s*x tape with Tommy Lee was released, and later, shocked the world in 2002, when she announced that she contracted Hepatitis C. The 50-year-old blonde bombshell has had a rocky life, especially as a child, admitting to being molested at the age of 12, and abused by a man at 25. Pamela Anderson has also gone through three divorces. Today, Anderson continues to work in television, and is a vegetarian and recently posed n*de for a French magazine. Hey, if it works, why not?
5. Tionne T Boz Watkins – Couldn’t Pay For Medical Bills
Tionne Watkins, better known as T Boz from the hit group TLC, has had some major money troubles. While the group cranked out numerous hits like Waterfalls, No Scrubs, and Creep, becoming one of the most successful girl groups to date, they had to file for bankruptcy in 1995. Watkins later filed for bankruptcy as an individual in 2011, after she was not able to pay for treatment for sickle cell anemia and a brain tumor. All of her success with TLC went out the window as she admitted to being $1 million in debt. Her net worth is around $500,000. While the star doesn’t seem to be getting on a stage anytime soon, she continues to bring awareness for sickle cell and is the spokesperson for Sickle Cell Disease Association of America.
4. Sinbad – Millions In Debt
Sinbad made a name for himself in Hollywood as a comedian, and later landed acting gigs on A Different World and other various television shows and films. Sinbad, whose real name is David Adkins, also had his own reality show titled The Sinbad Show, but that only lasted for one season. Even though the man is still highly requested to do stand up comedy, Sinbad went through a tough time in his life when he was forced to file for Chapter 13 bankruptcy. Sinbad claimed that he was around $11 million in debt and owed $375 thousand to American Express, $30,000 to Bank of America, and $2.3 million to the state of California. But that wasn’t all; the star also owed a whopping $8.3 million to the IRS!
3. Emmanuel Lewis
We all know Emmanuel Lewis from the hit 80’s television show Webster. In fact, the actor was nominated for not one, but four Young Artists Awards at the time. Lewis was so popular, that he was the official spokesperson for Burger King throughout the 1980’s. Lewis is often compared to Gary Coleman for his small stature (he’s 4 ft. 3), but that didn’t stop him from making a name for himself. In 2012, Lewis’ home in Georgia was in foreclosure and sold at an auction for a mere $56,000. According to documentation, the actor failed to pay state, county and school taxes that were a combined total of $44,000.
2. Stephen Baldwin – Terrible Financial Mishaps
Stephen Baldwin easily makes the list of washed up celebs who used to be rich because of his terrible financial mishaps. Of course, he was in a couple of films, including The Flintstones and The Usual Suspects, and some TV shows, but Baldwin could not save himself from the debt he would later run into. In 2009, Baldwin filed for bankruptcy and had his home foreclosed. The star had over $2 million in debt and around $70,000 in credit card bills. In 2012, Baldwin was arrested in New York for state income tax evasion. His money woes could have landed him in jail. However, so far, the star has avoided seeing any jail time. Baldwin’s daughter, Hailey Baldwin is making a name for herself in the modeling world. We hope she doesn’t fall into the same boat as her father.
1. Gary Busey – $500,000 - $1 million In Debt
Gary Busey has one of the biggest financial woes on this list. Gary was well known for acting in films like Point Break and The Buddy Holly Story, which actually earned him an Academy Award nomination for Best Actor. He later appeared on many television shows such as Gunsmoke, Law & Order, and Entourage, and even had a stint on Celebrity Apprentice. Sadly, in 1988, Gary was in a devastating motorcycle accident, which fractured his skull and he suffered brain damage. It took a turn for the worst when the actor had to file for Chapter 7 bankruptcy protection, stating he was in $500,000 - $1 million in debt.
