Actor Gary Busey appears onstage at the Comedy Central roast of Larry The Cable Guy at Warner Bros. Studios on March 1, 2009 in Burbank, California. (Photo by Kevin Winter/Getty Images) *** Local Caption *** Gary Busey
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Gary Busey also appears in:
Gary Busey Arrives at LAX
Phil Everly on the Hollywood Walk of Fame
Buddy Holly Star Unveiled On The Hollywood Walk Of Fame
Buddy Holly Hollywood Walk Of Fame Ceremony
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Gary Busey
In one of his many crazy, acronym-filled musings, Gary Busey once stated, "'Gone' stands for Getting Over Negative Energy." Well it appears his income was full of bad vibes because Busey's cash flow has gone bye-bye. Busey went belly up and filed for bankruptcy after reporting $1 million in debt and just $50,000 to his name.
Actress Kim Basinger arrives at the premiere Of Anchor Bay Entertainment's "While She Was Out" on December9, 2008 at the Archlight Hollywood in Los Angeles, California.
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Kim Basinger also appears in:
Kim Basinger at YVR
Kim Basinger at Vancouver International Airport
Premiere Of Senator Entertainment's "The Informers" - Arrivals
Premiere Of Anchor Bay Entertainment's "While She Was Out" - Arrivals
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Kim Basinger
There's extravagant spending and then there's literally buying an entire town. Even as one of the most successful actresses of the '80s, Kim Basinger's financial woes began once she purchased Braselton, Georgia, for $20 million. That, coupled with an $8 million dollar lawsuit for breach of contract, left the blonde beauty in the hands of bankruptcy proceedings.
382639 01: Entertainer Michael Jackson poses with his pet boa constrictor September 15, 1987 in the USA. Jackson, who was the lead singer for the Jackson Five by age eight, reached the peak of his solo career with 1982''s "Thriller," the best-selling album of all time and recipient of eight Grammy awards.
(September 14, 1987 - Photo by Getty Images North America) more pics like this »
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Michael Jackson also appears in:
Ke$ha at the MJ Cirque du Soleil Show
Michael Jackson The Life Of An Icon UK Premiere: A Look Back
Corey Feldman Outside Dan Tanas restaurant in LA
Jurors hear opening arguments in the trial of Michael Jackson's personal physician, Conrad Murray, who is accused of administering a fatal dose of anesthesia to Jackson
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Michael Jackson
The King of Pop was prone to eccentric and lavish spending (a simple once over of Neverland Ranch would reveal that much). Although Michael Jackson never filed for bankruptcy himself, he was so far in debt at the time of his death that his estate was left dealing with more debt than assets.
Former professional boxer Mike Tyson arrives at Comedy Central's Roast of Charlie Sheen held at Sony Studios on September 10, 2011 in Los Angeles, California.
(September 9, 2011 - Photo by Frederick M. Brown/Getty Images North America) more pics like this »
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Mike Tyson also appears in:
Mike Tyson And Family Arriving At Heathrow Airport
Comedy Central Roast Of Charlie Sheen - Show
Comedy Central Roast Of Charlie Sheen - Arrivals
Comedy Central Roast Of Charlie Sheen - Red Carpet
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Mike Tyson
Given Mike Tyson's volatile past, you could assume that sound financial management was never his thing. Iron Mike's lavish spending and forgetfulness when it came to paying the IRS ended up in bankruptcy in 2003.
Celebrities attending the 33rd Georgia Music Hall Of Fame Induction Ceremony at the Cobb Energy Performing Arts Centre in Atlanta, GA.
(September 18, 2011 - Photo by FlynetPictures.com) more pics like this »
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Toni Braxton also appears in:
Toni Braxton Out in Manhattan
Toni Braxton and Family in NYC
The 33rd Georgia Music Hall Of Fame Induction Ceremony
33rd Annual Georgia Music Hall Of Fame Awards - Backstage And Audience
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Toni Braxton
Let Toni Braxton's bankruptcy story be a lesson to all those aspiring pop stars. Although Braxton had earnings in the tens of millions, she was in deep debt at the height of her career due to a bad contract that left nearly all of her money in the hands of agents, managers, and label execs. It got so bad, all of her possessions (including her two Grammys) were sold to pay off creditors.
A slightly orange faced Donald Trump plugs his book 'Time To Get Tough' as he arrives to appear on "The Live With Regis And Kell Show" in New York.
(November 15, 2011 - Photo by PacificCoastNews.com) more pics like this »
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Donald Trump also appears in:
Donald Trump Endorses Mitt Romney
Donald Trump Endorses GOP Candidate Mitt Romney In Las Vegas
Kelly Osbourne Visits "FOX & Friends"
GOP Presidential Hopeful Newt Gingrich Meets With Donald Trump In New York
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Donald Trump
Somehow Donald Trump has made his name synonymous with wealth, power, and success, but did you know he's declared bankruptcy on multiple occasions? While he has his hands in plenty of different markets, his casino business failed miserably in the early '90s and again in 2004 when Trump claimed losses of close to $1 billion.
CREDIT: ©AXELLE/BAUER-GRIFFIN."G-Phoria - The Award Show 4 Gamers"..Shrine Exposition Center, Los Angeles, CA..July 31, 2004...Anna Nicole Smith.
(July 31, 2004 - Photo by Bauer Griffin) more pics like this »
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Anna Nicole Smith also appears in:
FILE: Anna Nicole Smith at Her Birthday Party
Anna Nicole Smith Backstage
Celebrities Kissing
Anna Nicole Smith at her After Party
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Anna Nicole Smith
Sexually harassing an employee is no joke, especially because it could cost you hundreds of thousands of dollars. Anna Nicole Smith went bankrupt in 1996 following a harassment suit that forced her to pay $850,000 in damages on top of legal fees.
Rapper/TV personality MC Hammer attends the A&E Television Networks' 25th anniversary celebration at The Rainbow Room on May 14, 2009 in New York City. (Photo by Stephen Lovekin/Getty Images) *** Local Caption *** MC Hammer
(May 14, 2009 - Photo by Stephen Lovekin/Getty Images North America) more pics like this »
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MC Hammer also appears in:
Los Angeles Angels of Anaheim v Oakland Athletics
"Thor" Los Angeles Premiere - Arrivals
Premiere Of Paramount Pictures' And Marvel's "Thor" - Arrivals
Celebrities Attending Black Eyed Peas' Benefit Concert
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MC Hammer
In the early '90s, few musicians were as successful as MC Hammer, but his newfound financial boon brought plenty of friends and family out of the woodwork looking for a piece of the pie. The singer reportedly paid half a million dollars a month to his entourage on top of his already fancy spending habits. Hammer time came to an end in 1996 after he announced he was $13 million in debt.
Los Angeles Premiere of "Justin Bieber: Never Say Never". Nokia Theatre L.A. Live. Los Angeles, CA.February 8, 2011.
(February 8, 2011 - Photo by Bauer Griffin) more pics like this »
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Perez Hilton also appears in:
Los Angeles Premiere Of Michael Jackson THE IMMORTAL World Tour By Cirque du Soleil
Opening Night Of Cirque du Soleil's "OVO" - Arrivals
Emmy Rossum wears a sparkling blue dress with a mysterious bump in the midriff as she attends The Ripple Effect Benefiting the Water Project at Sunset Luxe Hotel
Perez Hilton Signs Copies Of "The Boy With Pink Hair"
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Perez Hilton
Perez Hilton is familiar with the life of luxury. After all, he built his gossip empire by hanging out with celebrities and partying with socialites. The good life came naturally to Hilton, who had already been living beyond his means. As a student at NYU, Hilton (then Mario Armando Lavandeira) racked up a ton of credit card debt, which resulted in his filing for bankruptcy.
La Toya Jackson arriving for dinner at BOA Steak House in Los Angeles.
(November 2, 2011 - Photo by PacificCoastNews.com) more pics like this »
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La Toya Jackson also appears in:
Conrad Murray Sentencing And Press Conference
Olivia Holt Out and About
Michael Jackson's Family At The Courthouse For The Dr. Conrad Murray Verdict
Jury Reaches Verdict In Dr. Conrad Murray Trial
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Latoya Jackson
Latoya Jackson may not have had the career of her brother Michael, but she did have similar financial troubles. In the mid-'90s, Latoya gambled everything she had on building a music career. Unfortunately, it didn't take off, leaving her bankrupt.
Actor Burt Reynolds arrives at the 14th annual Screen Actors Guild awards held at the Shrine Auditorium on January 27, 2008 in Los Angeles, California.
(January 26, 2008 - Photo by Frazer Harrison/Getty Images North America) more pics like this »
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Burt Reynolds also appears in:
Burt Reynolds Making An Appearance At The Hollywood Blvd. Cinemas In Illinois
Burt Reynolds Turns 75
14th Annual Screen Actors Guild Awards - Show
14th Annual Screen Actors Guild Awards - Arrivals
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Burt Reynolds
Burt Reynolds is a Hollywood icon, but an expensive divorce in 1996 revealed he was more in debt than his industry status would imply. Most absurd was the fact that Reynolds had a personal wig maker on staff who he owed $100,000.
Cyndi Lauper performing live on her 'Memphis Blues' Tour at the Club Nokia in Los Angeles, CA.
(November 5, 2011 - Photo by FlynetPictures.com) more pics like this »
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Cyndi Lauper also appears in:
Cyndi Lauper Just Wants To Have Fun At LAX
Cyndi Lauper at the Airport
Cindy Lauper Leaving the BBC Studios
Cyndi Lauper Commemorates World AIDS Day
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Cyndi Lauper
Cyndi Lauper dealt with her bankruptcy issues early on. Lauper filed in 1981, a couple of years before her first hit record She's So Unusual.
The 53rd Annual GRAMMY Awards.Staples Center, Los Angeles, CA.February 13, 2011.
(February 13, 2011 - Photo by Bauer Griffin) more pics like this »
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Tia Carrere also appears in:
NBC Universal 2012 Winter TCA Press Tour All-Star Party
2011 Pop Art Halloween Party
Premiere Of Paramount Pictures' "Footloose" - Red Carpet
Premiere Of Paramount Pictures' "Footloose" - Arrivals
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Tia Carrere
Tia Carrere thought she was down and out when she filed for bankruptcy early in her career. Then she landed the role as Wayne's love interest in the breakout hit Wayne's World in 1992. People responded so well to Carrere that she was brought back for the sequel, and she's been financially stable ever since.
Tom Petty performs during day two of the Outside Lands festival on August 23, 2008 at Golden Gate Park in San Francisco, California.
(September 9, 2000 - Photo by Karl Walter/Getty Images North America) more pics like this »
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Tom Petty also appears in:
11th Annual Golden Heart Awards - Inside
11th Annual Golden Heart Awards - Red Carpet
11th Annual Golden Heart Awards - Arrivals
George Harrison Honored On The Hollywood Walk Of Fame
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Tom Petty
Years before he wrote "Free Fallin'," Tom Petty's finances were in a steady descent. Petty found himself a half million dollars in debt in 1979, already two albums into his Rock and Roll Hall of Fame career with the Heartbreakers.
Dorothy Hamill rehearses at "Kaleidoscope" presented by sanofi-aventis US airing nationally on Thanksgiving Day on FOX at Verizon Center on November 16, 2009 in Washington, DC.
(November 15, 2009 - Photo by Paul Morigi/Getty Images North America) more pics like this »
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Dorothy Hamill also appears in:
"RISE" New York Premiere
25th Great Sports Legends Dinner To Benefit The Buoniconti Fund - Arrivals
The 2010 Stand Up To Cancer
Stand Up To Cancer - Arrivals
more Dorothy Hamill pictures »
Dorothy Hamill
Dorothy Hamill, one of America's most beloved Olympians, found herself in financial trouble after pursuing her passion. In 1993, Hamill purchased the rights to the already doomed Ice Capades, and just two years later had to sell the drowning company. Hamill sunk so much of her own cash into the Ice Capades that she soon had to file for bankruptcy.
Actress Lorraine Bracco attends the 10th Annual Elton John AIDS Foundation's "An Enduring Vision" benefit at Cipriani Wall Street on October 26, 2011 in New York City.
(October 25, 2011 - Photo by Mike Coppola/Getty Images North America) more pics like this »
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Lorraine Bracco also appears in:
North American Premiere Of "Lilyhammer", A Netflix Original Series
Robert F. Kennedy Center For Justice And Human Rights 2011 Ripple Of Hope Awards Dinner Honors Former Vice President Al Gore And Dennis Mathisen, Chairman, K2 Capital Group
10th Annual Elton John AIDS Foundation's "An Enduring Vision" - Arrivals
George Clooney at the "Ides Of March" Premiere in NYC
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Lorraine Bracco
Divorce can be a bitch, especially on the finances. Sopranos star and Oscar nominee Lorraine Bracco found this out the hard way when she filed for bankruptcy in 1999 following a bitter divorce and custody battle with ex-husband Harvey Keitel.
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