April 4, 2024

5 Stars Who Went Broke

When it comes to movie stars and their lifestyles, all that glitters is not gold. By: Kritchanon Tan Kian Wei

Many of us associate celebrities with wealth. However, some celebrities, including names you’re likely familiar with, have actually gone broke at some point. Read on to find out five of these celebrities!

1. Mike Tyson

Firstly, we have the famous boxer who also happens to have starred in several movies.

Due to reckless spending, Tyson once declared bankruptcy in 2003, falling into a $23 million debt. Tyson lived a very flashy lifestyle, throwing parties and making purchases like a $2.2 million 24-karat solid gold bathtub.

Fortunately, the 57-year-old has since rebuilt his fortune.

2. Johnny Depp

Best known for the Pirates of the Caribbean series from 2003 - 2017, Depp has previously gone into debt.

In 2021, the then 57-year-old revealed he lost his $650 million fortune in the high profile court battle with ex-wife and Aquaman star Amber Heard. His lavish lifestyle also contributed to his financial crisis. Fortunately, a jury ruled in his favour eventually and awarded Depp $10 million in damages.

3. Drake Bell

Most recently subjected to lots of public attention after the release of the exposé docu series Quiet on Set: The Dark Side of Kids TV (2024), the Nickelodeon sitcom Drake & Josh (2004-2007) star Drake Bell has certainly had a traumatic past.

Bell’s income had plummeted between 2012 and 2013. Then in 2014, Bell filed for bankruptcy, with roughly $600,000 of personal debt. The 37-year-old also pleaded guilty to several child endangerment charges in 2021.

Today, Bell, who now goes by the online persona Drake Campana, is pursuing his music career, writing songs in Spanish.

4. Wesley Snipes

Following the Blade trilogy (1998-2004), many reports were coming out in 2005 that Snipes was a difficult actor to work with. The American actor also lost multiple homes in Florida after owing money in taxes and interest, and was sentenced to three years in jail for tax evasion.

Snipes has since turned his life around, continuing to star in projects like the American comedy Back on the Strip (2023).

5. Nicolas Cage

“I was over-invested in real estate. The real estate market crashed, and I couldn’t get out in time,” the 60-year old movie star once told 60 Minutes. “I paid them all back, but it was about $6 million. I never filed for bankruptcy.” At one point, Cage even did four movies a year, all back-to-back.

Though the American actor recently starred in a cameo role as Superman in DC’s The Flash (2023), Nicolas Cage said in December 2023 that he is almost done making movies, telling Vanity Fair: “I do feel I’ve said what I’ve had to say with cinema. I think I took film performance as far as I could… I do want to get much more severe and stringent in my selection process… I want to say bye on a high note,” 

Cage will next appear in Longlegs (2024), a horror thriller film set to be released on July 12 2024.

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