Famous Celebrities Who Lost Their Money and Can No Longer Live Luxurious Lives

Fame and wealth often appear permanent, but for many celebrities, financial success does not last forever. Despite earning millions at the height of their careers, poor financial decisions, legal troubles, unpaid taxes, bad investments, and declining popularity have caused some stars to lose most—or even all—of their money. Lavish spending on luxury homes, expensive cars, private jets, and extravagant parties can quickly drain even the largest bank accounts when income slows down.

This list highlights well-known celebrities who once lived incredibly wealthy lifestyles but later faced serious financial problems. Some were forced to downsize their homes, declare bankruptcy, or dramatically change how they spend money. Their stories serve as a reminder that without careful money management, fame and fortune can disappear just as quickly as they arrive.

1. Nicolas Cage

For a period of time, it seemed as though Nicolas Cage was attached to nearly every major film release. Behind the scenes, however, his extravagant lifestyle—including purchases such as exotic animals, a Gulfstream jet, and a private island—placed him under severe financial strain. Compounding the issue, Cage reportedly owed the IRS approximately $14 million in unpaid taxes.

His financial troubles intensified in 2009, when his former wife filed a $13 million lawsuit against him. That same year, a real estate firm also sued him for defaulting on multimillion-dollar loans. As a result, his relentless acting schedule in subsequent years was widely viewed as an effort to stabilize his finances and repay outstanding debts.

2. Lisa Marie Presley

As the only child of Elvis Presley, Lisa Marie Presley was long assumed to be financially secure for life—and for a time, she was. That perception changed dramatically in February 2018, when divorce filings revealed she was carrying roughly $16.7 million in debt.

The financial shortfall was reportedly driven by unpaid credit card balances and a defaulted mortgage. Presley subsequently became embroiled in a contentious legal battle with her former financial manager, alleging that his negligence and mismanagement led to the loss of her fortune. She later filed a lawsuit against him seeking $100 million in damages.

3. Tyga

Rapper Tyga, widely known for his past relationship with Kylie Jenner, has faced a series of legal and financial challenges over the years. In 2012, he was sued by several women who appeared in one of his music videos after footage showing them partially undressed was allegedly not removed as promised.

His troubles continued in 2013, when he reportedly owed an Los Angeles jeweler $185,000 for an unpaid luxury watch, as well as another watch that was borrowed and never returned. Between 2015 and 2016, Tyga failed to pay rent on multiple properties and allegedly caused damage to some of them. By 2016, several of his luxury vehicles—including a Bentley, Ferrari, Lamborghini, and Maybach—had been repossessed.

4. Alexis Bellino

Alexis Bellino, best known for her glamorous image on The Real Housewives of Orange County, has experienced a far less polished financial reality. Following her divorce, it became evident that she and her former husband, Jim Bellino, had been dealing with financial instability for years. In 2010, the couple defaulted on their $4.6 million home.

That same year, Jim Bellino’s business, Global Marine, Inc., filed for bankruptcy, further exacerbating their financial issues. Despite these setbacks, Alexis’s situation improved after the divorce, as she became eligible to receive approximately $16,000 per month in combined child and spousal support.

5. Lauryn Hill

During the late 1990s and early 2000s, Lauryn Hill stood at the pinnacle of hip-hop and R&B, earning widespread acclaim and commercial success. Despite her achievements, the Grammy Award–winning artist encountered serious financial problems related to unpaid taxes.

Between 2005 and 2007, Hill failed to file and pay her taxes, later citing factors such as a hostile environment and industry pressures that she claimed interfered with her creative process. These decisions ultimately led to a three-month prison sentence and a court order requiring her to pay approximately $554,000 to the IRS.

6. Rupert Grint

The Harry Potter franchise generated enormous wealth for its three young stars—Daniel Radcliffe, Emma Watson, and Rupert Grint. While Radcliffe and Watson successfully transitioned into sustained post-franchise careers, Grint faced difficulty securing consistent acting roles.

His challenges were compounded in 2016, when he was ordered to pay more than $1 million to the IRS after relying on flawed accounting advice. Although Grint attempted to contest the ruling, his appeal was unsuccessful, leaving him responsible for the full amount.

7. Chris Tucker

Chris Tucker enjoyed massive success in the early 2000s, starring in hit films such as Friday, The Fifth Element, and the Rush Hour trilogy alongside Jackie Chan. At the height of his career, he was among the highest-paid actors in Hollywood.

However, in 2014, the IRS determined that Tucker owed approximately $14 million in back taxes, largely due to financial mismanagement. While he was able to negotiate an agreement and avoid jail time, his income declined significantly. With his last film released in 2016, Tucker’s lifestyle has reportedly become far more modest compared to his peak years.

8. Bow Wow

Anyone who followed hip-hop in the early 2000s likely remembers Shad Gregory Moss, widely known at the time as Lil’ Bow Wow. As he matured artistically and rebranded himself simply as Bow Wow, his mainstream appeal declined, and his financial stability followed suit. In 2012, a court ordered him to pay $3,000 per month in child support, yet he asserted that he had only $1,500 in total assets.

His financial credibility took another hit in 2017, when a fellow airline passenger exposed him on Twitter for posting an image of a private jet on Instagram while he was, in fact, traveling on a standard commercial flight.

9. Drake Bell

Drake Bell is another former child star who struggled to sustain his early success into adulthood. Best known for the hit Nickelodeon series Drake & Josh, Bell largely faded from the spotlight after the show concluded.

Following the end of the series, he attempted to transition into a music career, but it failed to gain significant traction. By 2014, Bell was unable to maintain mortgage payments on a home he had purchased in 2007, resulting in the property being foreclosed.

10. Courtney Love

Singer and actress Courtney Love has faced well-documented financial and tax-related challenges. Beginning in 2012, she made multiple substantial payments to the IRS, totaling hundreds of thousands of dollars, and reportedly spent approximately $27 million on legal fees.

Despite these setbacks, Love inherited a considerable estate from her late husband, Kurt Cobain. While she may have had to reduce her spending, her long-term financial outlook remains relatively secure.

11. Toni Braxton

Earning Grammy Awards and selling millions of records does not always translate into lasting financial security, as Toni Braxton’s experience illustrates. Despite her commercial success, she reportedly received as little as $2,000 in royalties from album sales.

The singer filed for bankruptcy in both 2010 and 2013. Although she later appeared on a reality television series alongside her sisters, Braxton has openly acknowledged that she must closely manage her finances and live within a strict budget.

12. Kim Basinger

Academy Award–winning actress Kim Basinger, known both for her acting career and her high-profile marriage to Alec Baldwin, has also encountered serious financial difficulties. At the height of her success, she invested in the purchase of a town in Georgia with plans to turn it into a tourist destination.

Her financial situation worsened after she withdrew from a film project, leading to the sale of her stake in the town at a significant loss—from an initial valuation of $20 million down to approximately $1 million. She ultimately filed for bankruptcy in 1983.

13. Mike Tyson

Although Mike Tyson still maintains an estimated net worth of around $3 million, this figure pales in comparison to the roughly $400 million he earned during his boxing career. Much of his fortune was spent on lavish indulgences, including luxury homes, extravagant parties, exotic animals, and a costly divorce.

Tyson also accumulated substantial debts to the IRS, legal teams, and other creditors. While he has worked to stabilize his finances in recent years, he can no longer support the extravagant lifestyle he once enjoyed.

14. Pamela Anderson

Pamela Anderson serves as another reminder that fame and wealth do not exempt anyone from financial obligations. She encountered significant difficulties after being found to owe hundreds of thousands of dollars in unpaid taxes.

Despite these issues, Anderson largely continued living as she had before. Although public perception might suggest a higher figure, her net worth is generally estimated to fall between $8 million and $15 million.

15. Abby Lee Miller

Abby Lee Miller, widely recognized as the formidable dance instructor from Dance Moms, became nearly as famous for her legal troubles as for her television career. She was convicted of concealing approximately $775,000 in income while attempting to file for bankruptcy.

Miller served time in prison before being transferred to a medical facility following a diagnosis of lymphoma. Since then, she has pursued a professional comeback, returning to television with Dance Moms Season 8 and rebuilding her finances to an estimated net worth of $2 million.