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8 stars who lost all their money

Bad business sense, scams, lavish lifestyles… there are plenty of reasons why certain talents have suffered significant career setbacks. Evidence for eight.

In the Hollywood industry, the temple of glamor and looks, we like to care and display the outward signs of wealth, a glittering showcase.The American way of life, even artificial. Suffice to say, when you’re broke, you certainly avoid shouting too loudly.

Not everyone is lucky enough to have the business acumen of Jessica Alba, who had the idea – drawing on her experience as a young mother – to launch her company Honest in 2011 after teaming up with a former NGO leader. Helps protect children from toxic materials. His cosmetics business is now valued at over $1 billion.

Bad financial investments, expensive and destructive lifestyles, overwhelming legal bills, all kinds of fraud, colossal financial failures at the box office… these are not the reasons that are not lost to explain the bankruptcy of certain Hollywood talents. The point should be brought under the regime Chapter 11 of the US Federal CodeThe so-called “protective” procedure, which allows a company or an individual to avoid bankruptcy through restructuring and not being able to meet its demands on its debtors.

Others are placed underneath Chapter 7 Diet, which also includes a declaration of bankruptcy, allows for a faster court process (3 to 6 months) and above all, allows you to keep your property, in certain cases. It is useful not to be left on the street…

Nicolas Cage

It seems like a long time ago when Oscar-winner Nicolas Cage managed to earn $40 million in 2009… The one-time actor is a prime example of a destructive lifestyle. And he also spoke bluntly in an incredible interview published in the New York Times in 2019.

Acquiring a complete dinosaur skeleton, millions of dollars spent on ultra-rare comics (including a first issue of Superman), several houses, including prisons in Germany and England, many cars of course… In 2012, he stated that he had The US bill is over $14 million. Almost half of that amount was related to taxes on his residences, which he never paid… In 2015, it was estimated that the star spent between 1996 and 2011. Not less than 150 million dollars… Two years later, his fortune was estimated at “only” 25 million dollars. In other words, it was melting like the skin of Dardi…

Hence the extravagant lifestyle that forced him to produce industrial quantities of films just to pay off his debts and fill the box office; But to be able to pay for the treatment of his mother, who died in 2021, at the end of her life.

Kim Basinger

A muse of the 1980s who combined films such as Never, The Best, Batman, The Brimstone 9 1/2 Weeks, Kim Basinger navigated the 1990s with some serenity with other roles such as The Karen McCoy Case, culminating in a 1997 Oscar. Won with his lineup at the excellent LA Confidential.

Financially, it was a little more difficult… In 1989, he spent no less than 20 million dollars to buy it. A large apartment complex in Braselton, Georgia. He took it into his head to develop amusement park Or even in a movie studio. In 1993, he was forced to declare bankruptcy. Trouble that rarely comes alone, he was also sued by Boxing Helen’s producer, Carl Mazzocone, for breach of contract; Basinger to title the film. He was ordered to reimburse the producer and pay legal fees. $8.1 million branch he will manage I passed in 1995. Still, his legal expenses during those two years didn’t really help the finances…

John McTiernan

John McTiernan’s case is truly heartbreaking. Behind the scenes of his obscure remake of Rollerball, a fire was burning under the ice between director and producer Charles Roven. To the point that Mc.T hired a sultry private detective, Anthony Pellicano, to audition the producer. In April 2006, during a public hearing in Los Angeles federal court in what became known as the Pelicano case, McTiernan pleaded guilty to lying to the FBI about his involvement in the case. “Actually, I asked Anthony Pellicano to audition for Charles Rowan in August of 2000. I talked to him about it, I never got the bill (…) about two weeks later, I paid and broke the contract,” the script says. writer. Ultimately sentenced, he spent 328 days in jail before being eligible for parole in February 2014. Paying astronomical attorneys’ fees (as is often the case in the United States…), logically failed to work, and the filmmaker even declared himself bankrupt. during imprisonment. Since Basic was released in 2003, it hasn’t hit the ground running.

Stephen Baldwin

In the Baldwin (great) family, I ask Stephen. Now widely subscribed to direct-to-video bis films, the latter nevertheless made a brilliant debut in the masterpiece The Beast of War. He also played the excellent Michael McManus in the film that became a classic, Usual Suspects.

Alec’s younger brother announced himself He went bankrupt in 2009, can’t pay the bills and pay the mortgage. In 2013, he was arrested and pleaded guilty to the IRS for failing to pay taxes for three years, 2008, 2009 and 2010. Slate Amount: $300,000 and five years probation. in 2017, Even his house was seized and sold at auction,. For six years, he “simply” did not pay $7,000 in monthly payments, and Deutsche Bank estimated the actor’s debt at $1.1 million…

Gary Coleman

Gary Coleman played the character of Arnold on the cult TV series Arnold and Willy for eight seasons, earning up to $70,000 per episode. Before going through a chaotic career, between financial problems, a suicide attempt and domestic violence. He died of a congenital autoimmune disease in 2010 at the age of 42.

He tried 1989 lawsuit against his parents and his financial adviser, Anita de Thomas, whom he accused of siphoning off his income. They ordered him to pay nearly $1.3 million. A charming family… it still wasn’t enough to pay off the actor’s debts, which declared bankruptcy in 1999. After paying astronomical legal fees and a series of bad investments, he was forced to work away from the movie set, cook pot, Security guard at the shopping center

Waltz Disney

Walt Disney’s imprint – and influence – on the cultural world is truly gigantic. If the general public undoubtedly knows certain anecdotes related to Mickey Mouse’s father, which emphasize his creative genius, his visionary spirit and his keen business mind, the latter has also received more than once. His company is in financial difficulties and even on a personal level. For example, to produce Snow White and the Seven Dwarfs, he mortgaged the entire house.

Early in his career, Disney founded Laugh-O-Gram Films Inc. The name of his first animation studio, founded in 1922 in Kansas City, Missouri, when he was 21 years old. The studio and its Laugh-O-Grams production marks Disney’s first foray into the world of film and animation in particular. He also hired future big names in animation such as Ub Iwerks and Hugh Harman.

An inexperienced entrepreneur, his company experienced many financial problems, in particular due to orders for animated films that were not paid by his distributors. As a result, Disney was unable to pay employees’ salaries and rent.

Despite several attempts to save the company, he was forced to declare bankruptcy in July 1923, although he had to wait until 1927 to fully recover from the problem. Thanks to his brother’s financial help, he was able to rebuild Disney Brothers Studios in October 1923. A huge empire is being created…

Burt Reynolds

A star of the 70s who combined classics such as Deliverance, Full mouth or Gator, Burt Reynolds was brought back into the limelight by Paul Thomas Anderson in Boogie Nights, where he played X movie producer Jack Horner. In 2015, he told Vanity Fair : “I lost more money than was possible because I never paid attention.”

And the interested party like a rosary to cover his many expenses: the purchase of land, a private jet, no less than 150 horses and even $100,000 in wigs in the 80s, just to hide his baldness. The expenses of her lavish marriage to Lonnie Anderson in 1988, followed by a very expensive divorce, ended up ruining the comedian. If the couple divorced after 5 years of marriage, The brutal divorce process… took 22 years. Amazing.

As a result, Reynolds was unable to repay a $3.7 million loan, so much so that he filed for bankruptcy in 1996. He reports a debt of 10 million dollars. Died in 2018, he toured in many productions, often direct-to-video, until 2017.

Francis Ford Coppola

Master Coppola’s example is unique and unparalleled in Hollywood. The director went bankrupt three times. In July 1992He filed for Chapter 11 of the United States Federal Code against both himself and his two companies, Zoetrope Corp. and Zoetrope Productions. Ten years ago, he did the same.

If he used his personal assets to finance Apocalypse Now, it was his movie Coup de coeur, a terrible financial disaster that cost him dearly, to the tune of $71 million in debt. Debts that will take 20 years to pay off. It is his masterpiece Dracula that will help him, though not completely, back in the saddle.

In a success story that is ultimately very American, the filmmaker still manages to make a fortune in the wine business. By the late 2000s, his wine empire was generating $500 million in annual revenue. And now, under the brand Francis Coppola presentsHis empire includes wine, an artisanal tomato sauce factory (we don’t deny his origins!), pasta, cigars, two restaurants, five luxury hotels (including two in Belize), shops to sell his products in luxury hotels… This means that Frances strongly believes in her lucky star.

Source: allocine

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