Big Names Who’ve Gone Bust

You’d think that movie stars and other celebrities raking in the cash wouldn’t have money problems. Think again. There are plenty of the rich and famous that overspent or made terrible financial decisions. More than once.

According to What IVA?, the top ten big names who’ve gone bust starts with Kerry Katona who couldn’t afford the final £82,000 of a £417,000 tax bill. She declared bankruptcy in 2008.

Coming in second is Shane Filan, the singer of Westlife. After investing in property in Ireland, the singer owed £4.5 million in 2011 when prices were 50% lower than when he bought in 2006. He declared bankruptcy in 2012.

Singer and songwriter Elton John declared bankruptcy in 2002. He overspent every month by two million dollars and spent $450,000 a month on flowers alone.

Actor Nicholas Cage owed $6.2 million in taxes and declared bankruptcy in 2009. This was most likely after his $2.3 million purchase of a medieval castle in Germany.

Burt Reynolds was $10 million in the hole after a bitter divorce from Loni Anderson. He declared bankruptcy shortly after in 2009.

Curious to find out who else of your favorite celebrities are no longer financially viable? Read on in the infographic below.

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