Once Icons of Fame—Now Bankrupt: The Shocking Downfalls of 15 Global Celebrities
They once walked red carpets, lived in mansions, drove luxury cars, and sparkled in designer jewelry. The glamorous life of a celebrity seems like the ultimate dream—but behind the spotlight, some of the biggest names in the world have faced dramatic financial meltdowns.
Whether from reckless spending, bad investments, tax troubles, or scandals, these famous figures lose it all —sometimes overnight. Fame and fortune offer no immunity from financial disaster. In this article, we’ve ranked 15 world-renowned celebrities who declared bankruptcy. What led them to ruin? Did they manage to rise again? From pop icons to Hollywood legends, we explore the highs and lows of their dramatic journeys—through an entertaining and thrilling lens.
No.15: Nicolas Cage
Hollywood star Nicolas Cage became infamous not only for his acting, but for his extravagant spending habits. At the height of his career, Cage purchased multiple mansions, luxury cars, rare artifacts—including a dinosaur skull he reportedly bought for $276,000.
His wild financial choices eventually led to massive tax debts and mounting liabilities. In 2009, several of his properties were seized by banks, and he came dangerously close to bankruptcy. However, Cage made a major comeback by accepting more film roles, and it’s been reported that he has since paid off his enormous debts in full.
No.14: Mike Tyson
Former heavyweight boxing champion Mike Tyson earned over $300 million throughout his career, but lawsuits, reckless spending, and personal troubles left him penniless.
From owning mansions to exotic pets like Bengal tigers, Tyson’s lavish lifestyle spiraled out of control. In 2003, he filed for Chapter 11 bankruptcy in the U.S., marking a shocking fall from grace. Despite the hardship, Tyson rebuilt his life—appearing in media, exhibition matches, and even launching his own cannabis brand. His story is one of destruction, redemption, and reinvention.
