Celebrities Who Went Bankrupt

With all the fame and glory, celebrities enjoy various perks and special treatments that we, the lesser mortals, can only dream about.

Never ending shopping sprees, beautiful mansions around the world, expensive cars, all this and much more is available to the rich and famous. However, there are points in their careers when they realize that they are not much different than the rest of us.

Everyone at some point in their life has to meet this dark force that sucks all the joy from their life. It usually appears in April and causes severe headaches to most Americans. Yes, the IRS is the one and only force that you must take seriously and you shouldn’t play games with.

On our list there some celebs who dared to gaze in the eyes of this ultimate “evil” and have survived to tell the story. Others were just reckless shoppers.

Here’s the list of those who crashed and burned their credit score.

MC Hammer

photo credit: huffingtonpost.com

1. MC Hammer

At the beginning of the 90’s, no one could touch his positions on Billboard top lists. MC Hammer’s career skyrocketed, which increased his net worth to a whopping $33 million.

As his bank account grew bigger and bigger, so did his appetites for expensive and extravagant things. An enormous luxurious mansion, rare exotic animals, golden chains, private chopper, you name it and this guy probably bought it.

He was around twenty when all this fame and money hit him in the head but he didn’t kept all to himself. He was very generous to his closest family, friends and employees, showering them with lavish gifts and throwing spectacular parties.

Just as his rise to the stardom was quick so was his fall. Just few years after his disappearance from playlists, he declared bankruptcy in order to save at least some of his assets.

He later tried to revive his career but that ship sank just like his credit score.

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