1. Toni Braxton
Toni Braxton blames her money woes on bad business deals & medical bills. She filed for bankruptcy in 2010.
2. 50 Cent
This year 50 filed for Chapter 11 bankruptcy and has been quoted saying that his flashy lifestyle is all a show.
3. Flex and Shanice
Apparently, Flex Alexander & Shanice have been experiencing a financial downfall that’s been going on for a minute. Flex wasn’t booking any gigs and Shanice wasn’t making any music so they along with 9 other family members shared a home and expenses and now . . . they have a reality show on OWN.
4. Warren Sapp
The former NFL star filed for bankruptcy in April 2012 after having blown the $82 million he’d earned in his career–and fans learned of his lavish spending on such items as a rug made out of lion hide and more than 200 pairs of Air Jordans. In 2012, Sapp owed $6.7 million to his creditors — nearly a million of that to the IRS — and only had $6.45 million on hand.
Luda would have us believe he is broke and can’t afford to pay child support for his little girl. He blamed his empty bank account on Paul Walker’s death causing the halt of filming Fast & Furious and apparently causing him to go broke has raised some eyebrows. Really?
6. Dennis Rodman
The former NBA and Celebrity Apprentice player is accused of owing more than $800,000 worth of child support to his third wife, according to TMZ. But court documents said he was unable to pay up because he’s currently broke.
The comedian has filed for bankruptcy twice saying that he owed a debt of about $11 million, $8 million of which was money he owed for back taxes. Sinbad, whose real name is David Adkins, insisted to Oprah, “I didn’t live large. I invested in me. I invested in a lot of other people. I would not change it.”
8. Lauryn Hill
The singer has admitted she’d failed to pay taxes on about $1.8 million of earnings between 2005 and 2007.
9. Dionne Warwick
The famed “Say A Little Prayer” singer will need more than that to get out of debt! In March 2013, the legendary hit maker, 72, claimed in a federal court filing for bankruptcy that she owes $10.7 million, most of it for taxes.
10. Chris Tucker
Incredibly, the Rush Hour star joked about his massive $11.5 million IRS debt two years ago. “That’s the last time I let Wesley Snipes help me out with my taxes,” Tucker laughed about the star who went to prison for being a tax cheat. But the Silver Linings Playbook actor has recently gotten serious about satisfying the taxman himself, reportedly paying back almost a million on his debt.
T-Boz filed for bankruptcy last year. Sickle cell, a brain tumor and no child support from Mack 10 hasn’t helped. (UrbanDaily)
12. Evander Holyfield
Evander Holyfield has earned several million during his career that spanned 20 years. He is now broke.
13. MC Hammer
MC Hammer was worth around 33M in 1990 according to Forbes. He filed for Chapter 11 six years later.
14. Iyanla Vanzant
Iyanla Vanzant lost her multimillion dollar fortune, her marriage and her dream home. She is on her way back. (HelloBeautiful)
15. Sly Stone
Sly Stone went from living in a mansion to being homeless caused by subtance abuse and spending beyond his means.
16. Mike Tyson
Mike Tyson made about $400 million and managed to spend it all. He filed Chapter 11 in ‘o3. He has since resurrected himself.
17. Terrell Owens
The ex-NFL wide receiver blew through almost $70million and wound up broke! Terrell faced mind-boggling mortgage bills and child support payments to four different women. And this February, the IRS filed a lien against him for more than $438,000.
18. Tia Carrere
Tia Carrere filed a lawsuit to get out of her ‘Soap’ contract to act in films, lost the suit & her movie star status.
19. Wesley Snipes
In 2006, the Blade actor was charged with not only failing to pay his taxes, but for filing multiple fake tax returns when he did. He served three years in prison and is currently out and trying to rebuild his life.
20. Willie Nelson
After filing bankruptcy, Willie actually released an album to pay back the IRS ‘The IRS Tapes: Who’ll Buy My Memories’
21. Gary Busey
Gary Busey has appeared in over 70 films. He filed for Chapter 7 with almost $500,000 in personal debts.
22. Chad Johnson
It has been predicted that Chad Johnson will soon be added to this list despite his fame and long career. 2012 not a good year but he seems to be holding his own.