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24 celebrities who lost all their money

Business Insider Logo By Matthew Michaels,Angélica Acevedo of Business Insider | Slide 1 of 25: 
  
    Many celebrities go from being rich and famous to being
    involved in lawsuits or spending sprees that trigger
    bankruptcy.
  
  
    United States President Ulysses S. Grant was broke
    after leaving the Oval Office.
  
  
    
      Michael
    Jackson, MC Hammer, and 50 Cent all went
    from being top musicians with great wealth to bankruptcy and
    debt.
  
  
    Actors like Nicolas Cage and Kim Basinger
    have also declared bankruptcy.
  

  The lives of the rich and famous often seem glamorous, but even
  the biggest celebrities have issues with money.

  Despite many inspiring stories of
  celebrities who came from nothing and worked their way out of
  financial hardship, the opposite also happens. From musicians to
  athletes to movie stars, sometimes fame and wealth result in a
  disastrous spending spree.

  Here are 24 examples of rich and famous celebrities who lost all
  of their money at one point in their careers. Some of them
  managed to bounce back, while others remain in financial trouble.

  • Many celebrities go from being rich and famous to being involved in lawsuits or spending sprees that trigger bankruptcy.
  • United States President Ulysses S. Grant was broke after leaving the Oval Office.
  • Michael Jackson, MC Hammer, and 50 Cent all went from being top musicians with great wealth to bankruptcy and debt.
  • Actors like Nicolas Cage and Kim Basinger have also declared bankruptcy.

The lives of the rich and famous often seem glamorous, but even the biggest celebrities have issues with money.

Despite many inspiring stories of celebrities who came from nothing and worked their way out of financial hardship, the opposite also happens. From musicians to athletes to movie stars, sometimes fame and wealth result in a disastrous spending spree.

Here are 24 examples of rich and famous celebrities who lost all of their money at one point in their careers. Some of them managed to bounce back, while others remain in financial trouble.

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