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Bankrupt celebrities

There was a time when Nicholas Cage earned $40 million a year. Over the years he amassed a $250 million fortune that was wiped out leaving him with a $14 million bill from the tax man.

US Cities Bankruptcy explained

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Troubled CSI actor Gary Dourdan might not be anywhere near as famous as Nick Cage but that hasn't made his fall from grace any less embarrassing. The star actually blamed CSI for the bankruptcy in official papers sent to court.

US Cities Bankruptcy explained

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Losing everything is one of the worst feelings in the world but it's far harder when bankrupcy comes with a media storm of embarrasment as Kim Basinger found out in 1993. She declared herself bankrupt following the lose of her $8.1 million lawsuit to Main Line Pictures over Boxing Helena.

US Cities Bankruptcy explained

Photos: Getty images

Losing everything is one of the worst feelings in the world but it's far harder when bankrupcy comes with a media storm of embarrasment as Kim Basinger found out in 1993. She declared herself bankrupt following the lose of her $8.1 million lawsuit to Main Line Pictures over Boxing Helena.

US Cities Bankruptcy explained

Photos: Getty images

Mike Tyson is a man who had it all and then lost it. In August 2003 the retired boxer filed for bankrupcy.

US Cities Bankruptcy explained

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Crack cocaine is said to be the reason Whitney Houston lost her fortune. She was worshipped for her singing voice but her drug addiction meant that she died penniless.

US Cities Bankruptcy explained

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The Miami Vice actor Don Johnson is another who's lost it all. In filed for bankrupcy in 2004 to avoid paying a $1 million bank loan.

US Cities Bankruptcy explained

Photos: Getty images

The Miami Vice actor Don Johnson is another who's lost it all. In filed for bankrupcy in 2004 to avoid paying a $1 million bank loan.

US Cities Bankruptcy explained

Photos: Getty images

Michael Jackson had everything. Talent to spare, loads of cash and plenty of time because he made his money at a very young age. Only those who have things easy let it slip through their fingers like Jacko did.

US Cities Bankruptcy explained

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Former Chicago Bull Scottie Pippen earned $120 million during his illustrious career but he squandered it all. He went from rags to riches and then back again.

US Cities Bankruptcy explained

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At one point Forbes Magazine published an article saying that MC Hammer had a net worth of $33 million. Not bad for someone with limited musical success. Dwindling album sales and unpaid loans led him to file for bankruptcy in April 1996 at a California court.

US Cities Bankruptcy explained

Photos: Getty images

At one point Forbes Magazine published an article saying that MC Hammer had a net worth of $33 million. Not bad for someone with limited musical success. Dwindling album sales and unpaid loans led him to file for bankruptcy in April 1996 at a California court.

US Cities Bankruptcy explained

Photos: Getty images

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