These Celebrities Made, Lost and Earned Their Fortunes Back Again in these Amazing Redemption Arcs
Celebrities often appear to live a charmed life on the outside. They get to wear designer clothes to attend the most exclusive of events where they rub elbows with fellow wealthy people.
There’s more to being famous than this perfect exterior though. For a variety of reasons, many celebrities actually go broke after earning their multimillion-dollar fortunes.
Fortunately, some of them are able to bounce back and earn back a portion of their former wealth.
Michael Jackson is among the most successful and controversial musical acts to ever rise to fame. But despite selling millions of records and performing sold-out concerts throughout his decades-long career, the King of Pop was reportedly $400 million in debt when he died in 2009.
His famous residence, Neverland, was even at the brink of being foreclosed on him. The roots of his financial troubles seem to be a mix of the expensive lawsuits he faced paired with large amounts of unpaid loans.
Luckily, his estate managed to turn things around. These days Jackson has been consistently topping the list of top-earning deceased celebrities since 2012.
Actress Kim Basinger was one of the it girls of the ‘80s and made a name for herself for starring in films like Tim Burton’s ‘Batman’, and ‘9 ½ Weeks’.
Despite earning millions from acting, her lavish ways soon caught up with her. After purchasing a town in Georgia for $20 million to create a tourist attraction, Basinger declared bankruptcy in 1993 and ended up selling the property.
Fortunately, she was able to continue working as an actress and rebuild her personal fortune, which now stands at $40 million.
Larry King has been a fixture in American media for decades and continues to be so to this day. Once upon a time in the ‘70s though, he found himself bankrupt after financial and legal troubles.
However, his luck soon changed as he received an offer to host a national radio talk show the same year he hit rock bottom. That same show would turn out to be ‘Larry King Live’ on CNN.
Another musician who’s found themselves in dire straits is R&B diva Toni Braxton.
Her first brush with bankruptcy happened in 1998 when her spending habits finally caught up with her less-than-stellar earnings from a bad record contract. A decade later, she filed for bankruptcy again when she canceled her Las Vegas residency due to health issues.
Thanks to the reality show ‘Braxton Family Values’ and her going on tour again, the 52-year-old singer has earned back a $10 million fortune.
More in Wealth
Meet Emma Grede, Khloe Kardashian’s Business Partner and Woman Behind This Amazing Brand
The Kardashians are great businesswomen, no doubt. Over the years, they’ve built themselves an empire of companies that seem to be...December 7, 2021
Is Olivia Jade Staging a Comeback amid Mom Lori Loughlin’s Sentencing for Bribery Scandal?
Celebrity kids often deal with unwanted scrutiny from the public because of their famous parents. Olivia Jade, a social media influencer...December 5, 2021
Demi Moore and Bruce Willis Are Social Distancing Together with Kids — Is It a Bad Idea to Spend Time with an Ex?
The current Covid-19 pandemic has brought so much sadness to our communities with a harrowing number of infected as scientists have yet to find a cure. However,...November 30, 2021
5 Ways Your Body Is Warning You About a Potentially Toxic Relationship
Being in tune with one’s own body won’t just help people catch illnesses early on. It can also warn a person...November 25, 2021
Signing Up For An Online Course? Here Are Some Strategies That’ll Help You Make The Most Out Of It
Ever since the pandemic hit, many people decided to switch their well-paid full-time jobs to small businesses and start-ups. While some...November 25, 2021
Reach New Heights in Your Business With These 3 Proven Strategies
You start a business today; wake up the next day, and find your brand’s name on the cover of a leading...November 10, 2021
Don’t Have a College Degree? You Can Still Land these Well-Paying Jobs
Going to college is a path that’s highly encouraged for young people to take. With the rising costs of university tuition,...November 5, 2021
Are You An Attention Seeker or People Pleaser at Work?
Everyone wants to be liked – it’s a classic human trait. Yes, this includes even that one colleague who seems too perfect...October 21, 2021
A Woman Built the Most Unconventional Home for Retirement — These Photos Will Make Your Jaw Drop
For working millennials, living in a tiny house may seem a more viable and affordable shelter option considering the skyrocketing home...October 17, 2021