12 Extreme Celebrity Bankruptcies

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We are all used to seeing celebrities getting filthy rich because of the attention we give to them. Some of them are super talented and they deserve every cent of their wealth. Others just take advantage of the human nature and create scandals in order to get the attention and the money (someone mentioned the Kardashians?).

But, most of the members of both groups of celebrities have one thing in common – they simply don’t know their way around money. Sometimes it leads to terrible extravagant spending, even worse investments and, eventually, to bankruptcies.

So we gathered the stories of the 12 most extreme celebrity bankruptcies.

1. Mike Tyson 


Mike was one of the greatest and most paid athletes in the world during the last decade of 20th century. He was also one of the most controversial ones. This time we won’t talk about his jail time, or about the time he bit off a part of another boxer’s ear. This time we will only talk about his disastrous failure to realize that his cash flow wasn’t infinite.

Tyson earned reportedly over 400 million USD during his boxing career, and he managed to accomplish the impossible – to spend it all and go bankrupt! The Iron Mike somehow managed to owe USA and UK governments 17 million USD in taxes, not to mention his debts for services provided to him by various companies. His friend admitted to the media that Tyson’s parties were “unimaginably insane” and that he was really generous to them and to the girls who got close to him. Mike also had an interesting taste for his pets – he bought several Bengal tigers. On top of that, Tyson made some really bad investments when he overpaid when buying a couple of mansions.

He thought he could afford it all. After all, during his prime Mike was receiving about 30 million for each fight. It just couldn’t last for long.

Today, one of the greatest boxers of all time is stripped of his wealth – he lives modestly with his third wife. Not only that, Tyson says he found his peace and happiness at the end, and that he enjoys his “awesome life”.

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