10 Famous American Bankrupts

admin January 29, 2017 Comments Off on 10 Famous American Bankrupts
10 Famous American Bankrupts

We generally keep the notion that the Famous people are always richy-rich and in most of the cases it happens to be the truth as we cannot deny the opulent opportunities one gets when they are famous. But if you think that they are always in the pool of prosperity and wealth then you are quite mistaken. Contrary to your impressions, famous people also have difficult times financially; the reasons can vary from bad investment decisions to extravagant lifestyle or costly divorce. Whatever may be the reason it is quite clear that they also face crisis in the zone of finances and are forced to file for bankruptcy when the situation start slipping from their hands altogether.


If you are still not convinced then here we are going to present you with the10 famous American Bankrupts to prove you that being famous cannot keep you away from financial crisis.

So here we present you the top names!


  1. Mike Tyson

There is no doubt that Mike Tyson is one of the most renowned boxing star and also one of the most recognised faces in the sports world. Yes, we all remember the face tattoo and the famous bling of Mike Tyson. Well this famous sport personality becomes the most controversial celebrity as well due to his lavish and over-the-top expensive lifestyle. Although Mike has earned a lot in his career as a boxer and he used to get whooping sum of $30 million per fight when he was in his top form. But in the 90’s he saw steady downfall in his finances and to make situation worse his divorce also cost him huge sum of money. When this entire downward swirl met his extravagant lifestyle that includes love for expensive cars and Bengal tiger, Mike was forced to file for bankruptcy in 2003.


  1. Kim Basinger

Many of us has the mind picture of Kim Basinger as one of the most successful and beautiful Hollywood actresses; but very few are aware of the fact that she also has filed bankruptcy in 1993 owning to a bad investment decision. Yes, the rich and the famous people also make financial mistakes and in the case of Kim it was about the purchase of the town named Braselton, Georgia. She invested a huge amount in this property with the high hopes of turning this town into a tourist attraction but she faced complication from her movie contract which cost her way beyond her bank balance and hence her filing of bankruptcy.

  1. Mark Twain

This might come as a surprise to you that your beloved author Mark Twain once face serious financial crisis. Mark Twain is the pen name of Samuel Clemens who has made quite a sum of money in his writing career. He was also declared bankrupt in 1984 attributing to some bad investments although he regained his financial glory afterwards. The adversity taught him many valuable lessons and he went on to write amazing books and subsequently made wiser decisions financially.

  1. Stan Lee

We all love comic books and we relate Marvel comics with our favourite superheroes ranging from Captain America, Hulk to spider man and X-men. The person we associate the most with the creation and popularity of these matchless heroes is none other than Stan Lee who has indubitably made lot of money with his association with Marvel comics. Unfortunately, he also filed Bankruptcy in 2001 when his online venture of comics met major meltdown costing him huge amount of money.

  1. Walt Disney

We will always be grateful to this creative genius to introduce us with the world of cartoons and the mesmerising Disney-world. This amazing success story also has a sour twist to it. Before the unprecedented success of the Disney’s animation in Hollywood, he was declared bankrupt when his inventors pulled back from his company named Laugh-o-gram. This bankruptcy becomes a blessing in disguise as after wards Disney moved to Hollywood and a legacy was born with it!

  1. Lawrance Taylor

This New York Giant’s player was declared bankrupt in 1998 when he failed to provide for child support. His career took a downward turn after 1993 when he left the New York Giant and started taking drugs.

  1. Abraham Lincoln

We all look forward to this great American Leader for inspiration. He is the one who immortalised his principles in the famous quote “Failure is the stepping stone to success.” He lived by this quote through and through as he struggled with financial difficulties many times and was even declared bankrupt in 1833. He kept his head high and show real determination by becoming the 16th president of United States after years of financial, political and emotional struggle.

  1. Margot Kidder

Who will ever forget this dew-eyed beauty in the role of Lois Lane in Christopher Reeve starrer “Superman”? She owned her success majorly to this movie. The glories of fame started fading when she met an accident and later diagnosed as manic-depressive. In order to avail medical services she was forced to sell her possessions in the process and was declared bankrupt in the year 1992.

  1. La Toya Jackson

La Toya Jackson is more famous due to her brother Michael Jackson rather than her own career of singing. Her singing career did not bloomed as compared to her sibling and after she declared bankrupt in 1995 she kept herself floating by various options ranging from taking part in reality shows and doing modelling.

  1. MC Hammer

This once upon a time “famous “singer and rapper was declared bankrupt in 1996 all thanks to his lavish lifestyle. As the saying goes “easy come, easy go”, Hammer’s career saw the imitation of this saying through and through as with the quick success, he started off with his uber-expensive spree of buying mansions, cars and so on. His extravaganza sought no limit till it was too late! He then moved on to try his luck in various ventures of being a preacher, host and model.

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