You will never tell that these 5 famous stars were in debt

There are many celebrities in television and music today around the world that truly live luxurious lifestyles we could never dream of living. From in home chefs to personal massage therapists, hair stylists, makeup artists, and more, it is easy to see why so many people love to follow one celebrity or another. But despite their popularity and the riches that they obtain over the years it doesn’t always stick with all of them and some have been known to lose their fortunes and face debt at one time or another. Yes, even A-list stars have been known to go broke or face bankruptcy issues etc. once they reach the top does not always mean they will stay there. Here are some that have had their own financial problems reported on over the years.

1. Michael Jackson

   It is widely reported that at the time of his death he was in debt, hundreds of millions in debt. It is no secret that he has a loan for bad credit borrowers and owned thousands of dollars to different banks. It has alleged that Jackson might have owed between $400-$500 million and that he allegedly blew it on cars, houses, and stylish living expenses etc. You might wonder how is this possible seeing as he was so popular with many hit songs and tours around the world but it’s alleged that his royalties weren’t enough to keep him out of debt and that the extreme debt started in the 90s and quickly grew over the years.

2. Kanye West

   Kanye is another celebrity that you always hear about championing one product after another. He has made millions over the years with his shoes and music, his clothing line, so has there ever been any down time? It has been alleged that he isn’t known for being frugal and though he has made a lot of money he also spends a lot too to the point that he previously admitted he was over $50 million in debt on Twitter. How does Kanye make money? It’s alleged that his earnings come from royalties of past music, as well as from being a producer etc, he also has his highly successful footwear brand Yeezy. This is a brand that at one point had been valued as being a multi-billion dollar brand. It was a surprising move that many didn’t expect Kanye West to take when he jumped into the sneaker scene but it is one that has truly paid off for him over the long run and enabled him to pursue other passions.

3. Stephen Baldwin

   Stephen Baldwin is a famous actor who it is reported and alleged that he and his wife defaulted on their mortgage payments and also filed for bankruptcy because they were allegedly over $2 million in debt. This is an actor that has been seen in many hit projects so it might come as a surprise to many of his fans that this would ever happen. But celebrities can also have their own share of financial difficulties even after success.

4. MC Hammer

   MC Hammer has had his fair share of financial problems reported in the media. It’s alleged that he blew through his own fortune and filed for bankruptcy back in 1996. Why would he do that? Well, it’s alleged that Mc Hammer was $13 million in debt at the time and was forced to sell off assets like his house.

MC Hammer is well known as an American rapper, record producer, and dancer. He had tremendous commercial success in the 80s and it’s estimated that he might possibly be worth around $2 million USD today or more.

5. Charlie Sheen

   Charlie Sheen is TV royalty and one of the most well known actors around the United States and world for that matter. He is also one of the highest paid actors in Network TV history with his hit shown Two and a Half Men. However this does not mean he hasn’t been allegedly dealing with debt at one point in his life, struggling with owing millions of dollars allegedly due to his alcohol and drug abuse, mortgages, and things like medical expenses. It’s alleged that Sheen had to sell some of his homes to deal with those money issues at one point and today is estimated to be worth more than $10 million USD. Charlie Sheen has appeared on popular projects like Scary Movie V, Wall Street: Money Never Sleeps, Due Date, The Big Bang Theory, Scary Movie 3 & Scary Movie 4, Spin City, Free Money, Money Talks, Friends, The Rookie, and many other hits.

Given their celebrity and success it might be hard to ever imagine that a celebrity could be in debt or that they would ever need to declare bankruptcy but many of them have and continue to face financial issues. This is because celebrities aren’t perfect and from celebrities, to athletes, and others with fortunes, it’s not always easy to maintain it. These are just some of the celebrities that you would never guess might of had debt at some point during their careers.