Celebrities Who Went Broke in 2012

The higher the climb, the steeper the fall: stars know that better than anyone else

By Elena Gorgan on December 24th, 2012 10:41 GMT

With this year nearly on its last legs, it’s time to draw the line and analyze the good and the bad in the celebrity world. Let’s just hope that your 2012 was far better than that of the celebrities we’re about to speak of.

As of late, there’s been a considerable peak in interest in bankrupt celebrities. Whether they drink and party away their vast fortunes or invest badly, or whatever the reason, whenever a star files for bankruptcy, it makes headlines.

Presumably, this happens because we know for a fact that these celebrities make a fortune doing what they do, so it seems almost unfathomable that they could spend all their hard-earned money like that, until they’re left with nothing, covered in debt and struggling to make ends meet.

As they say, the higher the climb the steeper the fall.

Thanks to the guys over at Bossip, we have a list of celebrities who have gone broke in 2012, which we will include in full below.

Warren Sapp – He earned millions upon millions and is still owing $6.5 million [€4.94 million] to the IRS. And he has a job on NFL Network too!

Vince Young – He was on Twitter saying he needed a job because all of those $5,000 [€3,800] Cheesecake Factory

Allen Iverson – He’s losing $300K [€228,015] a month and making 1/5th that much.

Lauryn Hill – She’s heading to the clink for refusing to pay taxes… smh.

Young Buck – He can’t even hardly afford his own damn name.

Terrell Owens – He got cut by his minor league team and can barely pay all that child support.

Evander Holyfield – He also has damn near a baker’s dozen of kids and he had his house foreclosed because he can’t deal with all of that.

Beanie Sigel - He’s also going to clinktown for not paying off his taxes. Not gangsta, Beans.

Chris Tucker - He is on tour right now to pay the IRS and get over his debt to the government. Maybe now he’s going to actually be not so broke anymore.”

As you can see, whether boasting achievements in sports, movies, music or other fields of activity, no one is safe from financial problems, because they don’t discriminate, as neither does the IRS.

However, these are not all the celebrities to make headlines in recent months for their desperate financial situation.

Lindsay Lohan, for one, is said to be in such a bad state that she can no longer make rent, while Toni Braxton is still struggling after filing for bankruptcy for the second time.

“CSI” star Gary Dourdan has also landed in very troubled waters, filing for bankruptcy to shake off his creditors, as also did actor Gary Busey.

As it turns out, no matter how much money stars make or the kind of respect / exposure they get, where bad judgment or just bad luck are involved, they are just like us.

Here’s to a better, more profitable 2013! Happy Holidays!
Celebrities who went broke in 2012 made headlines throughout the year
   Celebrities who went broke in 2012 made headlines throughout the year
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