Celebrities Who Have Less Money Than You

June 24, 2011 By:
Celebrities Who Have Less Money Than You

Just because you’re living a lavish lifestyle doesn’t mean you can afford it. While most celebrities have way more money than they’ll ever know what to do with, there are some out there that just flat broke—or millions of dollars in debt. Some stars made irresponsible mistakes, while others had their wallets emptied from costly divorces.

So if you’re worried whether you have enough in your bank account for your gas bill to clear—well, you should probably be working instead of reading blogs. But also, take solace in the fact that there are some celebs who are poorer than you.

MC Hammer: These days, M.C. Hammer is surely feeling silly for spending hundreds on parachute pants back in the nineties. After releasing a couple of hits, Hammer went nuts and splurged. He bought a $12 million mansion that housed his nineteen Thoroughbred racehorses, among other luxuries. But it wasn’t necessarily his lifestyle that cost him his fortune—Hammer was sued for millions. Can’t Touch This might as well have been about his bank account. Rick James and composer Kevin Christian sued Hammer for copyright infringement, and publishers Simon and Schuster sued him for taking an advance for a book but never writing it. Eventually, the hip-hop hack had to file for bankruptcy.

Kim Basinger: Because the Monopoly board game is apparently not that farfetched, Kim Basinger bought an entire town in Georgia for $20 million. But she had to sell it in 1993 before she filed for bankruptcy.

Don Johnson: The Miami Vice star’s Colorado ranch house was at risk in 2004. Johnson couldn’t afford to pay the $930,000 debt he owed to a bank, and he had $5,500 in grocery store debt. He ended up filing for bankruptcy to avoid selling his home. It’s gotta hurt when you can’t pay your tab for bread and milk.

Stephen Baldwin: Baldwin filed for bankruptcy July 2009, with he and his wife owing more than $2 million. $1.2 million of it was for the two mortgages on their home, and the rest was $70,000 in credit card debt and $1 million in taxes.