8 Celebrities Who Have Declared Bankruptcy

Nicolas Cage

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Hey, it happens. Bankruptcy is common among every socioeconomic class. People tend to believe that being wealthy would solve 90% of their problems, but having more money can actually mean more problems.

Whether someone else dealt with the accounting and messed everything up or a big deal fell through to put these celebs in debt, they are living proof that being successful doesn’t necessarily mean you won’t go through financial difficulty of some sort.

Here’s a list of some of the celebrities who have declared bankruptcy in the last decade.

1. Nicolas Cage

Even awesome people have to deal with bad financial decisions from time to time. Nicholas Cage didn’t actually file for bankruptcy, but as The Trust Advisor points out, it was his shopping habit that saw him in the weeds with the IRS.

He’s had to liquidate his collection of 15 mansions, a pile of archaeological and historic artifacts, and a lot full of cars in order to begin paying off the $14 million he owes. Ironically, he’s gone on record to state that he now enjoys living within his means.