When you think of financial problems and the need to file for bankruptcy, you most likely think of average, hard working people who have caught a rough break in life. Yet you might be surprised to learn that many of your favorite celebrities have filed for bankruptcy.
Here are some of the more high profile celebrities who have had to file….
One of the most recent filings is that of music star Toni Braxton. Originally filing in 1999, Braxton filed for bankruptcy a second time in 2010 after a heart problem caused her to cancel her headlining show in Las Vegas and left her in a spiral of uncontrollable debt.
Donald Trump has famously filed for bankruptcy through a number of his businesses. While still hailed as a financial genius, research into his companies shows that he has actually had more financial woes than many other celebrities.
Actor Burt Reynolds famously filed for bankruptcy in the 1990’s, despite being one of the most popular and successful actors in the world in the 70’s and 80’s. His divorce from actress Loni Anderson was certainly partially to blame, but poor spending choices also contributed to his problems.
One of the most surprising celebrities to ever file for bankruptcy, however, has to be Walt Disney. Known today as a genius and the creator of what is still one of the most recognizable brands in the world, in 1921 Walt Disney filed for bankruptcy when investors backed out of his company. It was this filing, however, that led him to Hollywood where he began animating and became one of the biggest celebrities of all time.
Bankruptcy can happen to anyone and any time. While it may not be fair and may seem like the end of the world, take some small amount of comfort that even those with all the luck in life such as your favorite celebrities have experienced bankruptcy firsthand.