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10 celebrities that are worth a lot less than you would imagine

Too much expensive wine and not enough paying their taxes.

1. Lindsay Lohan – $500,000

Lindsay Lohan lifestyle blog Source: PA Wire/PA Images

Lindsay Lohan began her career at the age of three but it really peaked around 2004 when she starred in Mean Girls, launched a music career and starred in movies like Freaky Friday, Herbie: Fully Loaded and Confessions of a Teenage Drama Queen.

In around 2011 she was reportedly close to declaring bankruptcy. Playboy gave her $1 million to pose nude but a good portion of that went to the IRS who she was in debt to. In 2012 the IRS seized her bank accounts to pay federal taxes that she owed them.

Charlie Sheen gave her $100,000 during the filming of Scary Movie 5 in 2013, two years after his own public meltdown.

At one stage the actress had $600,000 in credit card debt, which in combination with the huge amounts of taxes she failed to pay, has left her with the net worth of someone who owns a modern three-bed home in Dublin 7.

2. 50 Cent – $15 million

57th Monte Carlo Television Festival - Closing Ceremony Source: JLPPA/ABACA

$15 million is still a lot to the rest of us, but it’s a bit of a drop from what his net worth was at its highest – $150 million.

In 2004, the rapper earned $70,000,000 from endorsements and sponsorship of products, in 2008 he started a film production company called Cheetah Vision which obtained $200 million in funding, and in 2010 he went on a tour that added $10 million to his bankroll.

Then just five years later he filed for bankruptcy after he was ordered to pay $5 million to Lastonia Leviston (whose sex tape 50 Cent leaked online), 50 Cent filed for bankruptcy. Apparently, his assets at the time of bankruptcy equaled $10-50 million, his debt was pretty much the same amount.

3. Nicolas Cage – $25 million

German sustainability prize 2016 Source: DPA/PA Images

Again, $25 million seems like a lot, but it’s 1/6th of the $150 million he previously had before blowing the majority of his money on ridiculous purchases like Bahamian islands, real dinosaur skulls, two castles, a $150,000 octopus and the most haunted house in America.

The man owns 15 homes, a $30 million private jet, two extremely rare albino King Cobras, 30 motorcycles and dozens of high end luxury vehicles.

After spending so frivolously, Nick Cage was faced with a huge tax bill that meant he had to dump many of his assets. However, this happened during 2009, possibly the worst time to try and sell several mansions at once.

4. Mel B – unknown (but she has wasted a considerable chunk of her $38mil net worth) 

Mel B divorce Source: PA Wire/PA Images

A look at some of the things that Mel B has spent money on over the past few years would make you cringe.

She has $500,000 worth of handbags including four $20,000 Hermès Birkin bags. She spent $200,000 on an armoured car that can resist bombs and chemical attacks and can electrocute people who try to open the doors of it. She owns a $500,000 pair of earrings , a $425,000 ring, a $1 million island and pays $50,000 a year for her children to go to private school.

At the end of each year, she apparently struggled to pay taxes which has left her in quite a bit of debt. Her budgeting sounds like the famous Dril tweet:

Tweet by @wint Source: wint/Twitter

She is currently going through a divorce with director Stephen Belafonte (who is perhaps even worse with cash – he has spent $32,000,000 producing films that flopped and earned $2,000,000 in total in the end).

Belafonte is looking for £3,263 per month from her just for groceries (clearly he does the big shop in Marks), as well as £8,350 per month for rent and multiple other expenses.

He has the audacity to try and claim these expenses after a court heard that he had subjected her to multiple physical beatings as well as threatening to release a sex tape.

5. Spencer and Heidi Pratt – $600,000

Heidi Montag pregnancy Source: PA Wire/PA Images

When they appeared on MTV reality series The Hills, Spencer and Heidi Pratt were making at least $2 million a year. They don’t have much to show for it now, after spending it all on $3,000 bottles of wine and $1,000,000 worth of crystals.

They now regret spending so much money on gifts for friends because they thought that the money would never run out. They now share one steak between them at the Beverly Hills restaurant where they had previously ran up five-figure food bills.

6. Pamela Anderson – $5 million

Pamela Anderson attends the Rock My Swim Fashion Show Source: Hahn Lionel/ABACA

In 2009, Anderson found herself living in a trailer park with her boyfriend after a huge home renovation left her a million dollars in debt. The construction company sued her over unpaid legal bills and in the years following, she managed to find herself $350,000 in debt over unpaid taxes.

Someone tell the celebs to just pay their taxes.

7. Mike Tyson – $3 million

Mike Tyson File Photo Source: PA Wire/PA Images

Now living with 1% of the $300 million that he was worth at the peak of his career, former heavyweight champion Mike Tyson lost a considerable amount of money after serving a prison sentence for raping an 18-year-old college student and getting a divorce.

He owed the IRS $13.4million, British tax authorities were also owed $4 million and several law firms were owed nearly a million.

8. Kelis – $4 million

Annual Baby Ball in honor of World Adoption Day - Los Angeles Source: SIPA USA/PA Images

While still able to back up the lyrics of her song ‘Millionaire’ featuring Andre 3000, Kelis’ $4 million, it’s not a lot to show for the 6 million albums that she sold.

It does not seem sustainable for her to spend $15,000 a month on her mortgage, $3,000 on childcare and a further $15,000 on gifts, entertainment and vacations. Especially when her monthly expenses total $80,000 while she earns $21,000 per month.

9. Janice Dickenson – $500,000

Janice Dickenson sighting - Heathrow Source: PA Archive/PA Images

After a successful career as a supermodel and a number of years being present on the panel of America’s Next Top Model, you’d expect Janice Dickenson to have saved a little bit more money. However, in 2014 she declared bankruptcy after City National Bank were concerned that she would not be able to pay the reduced debt due to her age (she’s 62), lack of assets and lack of income.”

10. Coolio – $100,000

Coolio in Concert - Las Vegas Source: AJM

In the 90s, Coolio made at least $4 million from record sales. He has gradually burned through his fortune. According to this celebrity booking site, CTI, you can have Coolio perform at a private event for as little as $7,500. That explains his reliable presence at college fresher balls over the last decade.

 

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About the author:

Kelly Earley

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