After rising to fame, these celebrities all crashed and burned too. Find out which stars had to be declared bankrupt - there are popstars, MPs, actors and sportsmen in here. You might just be surprised by a few of them...
It’s not always an easy ride for celebrities… After making their way in the showbiz world, one of the hardest parts it seems, is cash-management. Not only did the following list of celebs make a serious fortune – they lost that serious fortune too and were declared bankrupt.
After rising to fame, these celebrities all crashed and burned too. In lots of cases the reason for bankruptcy was that they could not stump up on their tax bills. But, other famous faces have been quoted saying that they were simply spending more money than they were bringing in. And, one even said that being declared bankrupt was the ‘best thing that ever happened to me.’
How about some clues to help you with your guessing? There are popstars (a few of these in fact), MPs, actors and sportsmen in here. Two of the men on the list actually come from the same boyband and went bankrupt within a few weeks of each other. So, who do you think makes the list?
Click here to find out which stars had to be declared bankrupt. You might just be surprised by a few of the names who have lost everything at some point…
The leader of far-right political party, the BNP, is the latest to run out of cash. He was declared bankrupt on the 2nd January 2014. He tweeted saying: A note for all: Being bankrupt does NOT prevent me being or standing as an MEP. It does free me from financial worries. A good day!’ Hmmm, we’re not sure if we agree.
She was a singer, as well as an actress (well, who could forget her as Tiffany in EastEnders) and even starred in one of our favourite films, Love Actually. But, in 2013 with debts of £187,000, Martine McCutcheon was declared bankrupt.
She’s now opened up about how her bankruptcy, combined with the disease ME, led her into depression.
She told The Sun on Sunday, ‘I’ve had the worst seven years ever. Life felt like hell every day. It’s just been one thing after another. I have not been in a nice place in my head, financially nor with my career.’
George Best’s son didn’t have the best second half to 2013 – he released a statement in October saying: I can confirm that I have made the decision to declare myself bankrupt as a result of being unable to make tax repayments.’ Oh dear.
The Blue Singer was made bankrupt by the High Court on the 12 September 2013. Despite the fact the boyband had a new album out in 2013, it wasn’t enough to keep Duncan James (real name, Duncan Inglis) out of the red.
Simon Webbe followed in his bandmate, Duncan James’, lead and filed for bankruptcy on 25th September 2013. Blue are reported to have earned a massive £80 million from their boyband days – but Simon, saw his income fall dramatically after the band’s split and was even left homeless at one point.
Not our lovely Shane from Westlife! After investing in property at the height of his fame, Shane came crashing back to earth (along with the housing market) in June 2012. He owed the Ulster Bank and the Bank of Ireland around £4.45million – ouch. He is making a musical comeback though, and we’ve got to say we are very excited to see him performing again!
This cheeky chappy was made bankrupt in 2009 when he couldn’t pay a £20,000 tax bill! But, our lovely ex-EastEnders star has made a comeback and now appears regularly on I’m A Celebrity Get Me Out Of Here’s ITV2 chat show.
Kerry’s first bankruptcy came in 2008 when she failed to pay the final £82,000 of a £417,000 tax bill! In 2013, she filed for bankruptcy once again and lost her role as spokeswoman payday loans company Cash Lady as a result. Although, that surely isn’t a bad thing?!
Did you remember that in 2007 Michael Jackson filed for bankruptcy after not being able to pay back a loan on his $25million, Neverland Ranch home?! No, neither did we. Well, if he was going to splash out like that, he should have at least made sure he could afford repayments!
After building up massive law firm and limo service debts, along with owing HUGE amounts to US and British governments, Mike Tyson was made bankrupt in 2004. The boxer has since reinvented himself and appeared in Hollywood films including The Hangover!
Christopher Biggins was made bankrupt 15 years ago, after simply spending more money than he was earning. But, it all turned around for Christopher and he now says that being made bankrupt was the best thing that ever happened to me.’
Where to next?