Top Ten Celebrity Bankruptcies

I guess we can all say that we’ve been down on our luck at one point or another. But some people, including celebrities, have it worse, and even they can’t dig themselves out of their debt. Here are the top ten celebrities who have filed bankruptcy.

10. Walt Disney: The happy man filed for bankruptcy after the collapse of his popular animation production studio Laugh-O-Gram.

9. Lawrence Taylor: The football player who didn’t want to lose his home. After not filing his tax return in 1990, Lawrence Taylor filed for bankruptcy so his home would not be foreclosed on.

8. Stephen Baldwin: In 2009, this actor along with his wife had to file bankruptcy so that they would not lose their home.

7. Anna Nicole Smith. While alive, Smith owed $850,000 in the case against obtaining her late husband’s estate.

6. Gary Coleman: Another person who gathered debt in his years. Coleman reportedly had $72,000 in debt and filed for Chapter 7 bankruptcy in 1999.

5. Gary Busey has filed Chapter 7 bankruptcy and is rumored to be $1 million in debt and only has $50,000 to his name.

4. Elton John, known for his lavish and very expensive tastes, filed for bankruptcy when he acquired around $2 million in debt in 2002.

3. MC Hammer: In 1997, Hammer found himself with almost $14 million in debt. He then headed to bankruptcy court.

2. Willie Nelson owes $16.7 million in taxes alone. To get everything in order, he had to get rid of things that he didn’t need, which I’m guessing was a lot.

1. Mike Tyson, has made up to $400,000 million in his lifetime. It was reported that the fighter was $23 million dollars in debt, owing both the United States and British government millions in taxes.

I guess I can’t complain after all, especially since I do have some money in the bank. I can consider myself lucky.

Photos Courtesy of TwitPic