In 1990, Willie Nelson was one of the most popular country singers of all time, but due to tax debts of over $16 million owed to the IRS, he chose to file bankruptcy.
She may be all about strip clubs and dolla’ bills today, but back in 2009, Rihanna went “effectively bankrupt” due to her accountant’s alleged mismanagement of her fortune. According to court docs, RiRi’s chief bean counter blew $9 million of her $11 million fortune in a single year. The singer sued the money manager and was awarded $10 million by the court, making her more than whole again. Anyway, the $9 million is just chump change compared to the tens of millions she has earned since. Rihanna is reportedly worth $160 million today!
The King of Pop and the holder of the Guinness Record for Most Successful Entertainer reportedly spent much more than he earned when he was still alive. In 2007, he owed $23 million of the $25 million loan he took out on his extravagant Neverland Ranch, which was Jackson’s primary residence and private amusement park-slash-petting zoo.
“Original supermodel” Janice Dickinson declared bankruptcy after raking up debts of nearly $1 million (£650,000).
Rodman, the flamboyant former NBA star, filed documents in court stating that he was broke and extremely sick, therefore unable to payhis child support payments. Reportedly, Rodman owed more than $800,000 in back child support for his 9 and 10-year-old children from his third marriage, and more than $50,000 in “spousal support.”