Actress Kim Basinger is famous for her Oscar-winning role in L.A. Confidential and her marriage and subsequent divorce to veteran actor, Alec Baldwin, but also, for her financial woes.
When her career was booming, she decided to buy a small Georgia town, which she hoped to transform into a tourist destination but was forced to sell her share after backing out from starring in a film project. Unfortunately, at that time the price had decreased from $20 million to only $1 million, forcing her to file for bankruptcy in 1983.
Mike Tyson
Mike Tyson can hardly be considered broke, with a net worth of $3 million. However, when you take into account that he used to be worth $400 million, you can see that his financial situation has worsened dramatically. Tyson spent most of his money on fancy parties, pet tigers, golden bathrooms, and a costly divorce.
The former boxer was also deeply in debt to the IRS, his legal advisers and numerous other people were not happy when he couldn’t afford to pay what he owed. These days, Tyson is trying to reach financial stability, but it seems like he won’t be able to afford any exotic pets anytime soon.
Toni Braxton
It would seem like releasing several hit records and winning a Grammy should be enough to set you up for life, but that’s not always how it goes. Reports claim that despite selling millions of dollars worth of albums, Tony Braxton was only given $2,000 in royalties!
The singer was forced to declare insolvency in 2010 and 2013. She then went on to star in a reality show with her sisters, titled Braxton Family Values. That may have helped to improve her situation, but she has since admitted that she is on a budget and keeps an eye on how much she spends.
Wesley Snipes
What is it with stars thinking they can get away with not paying their taxes? Wesley Snipes had a lucrative film career and starred in hit films such as the Blade trilogy, White Men Can’t Jump and Demolition Man, but he was not interested in sharing his income with the IRS.
Snipes knowingly filed false tax returns, was caught, and sentenced to three years of prison time. The actor still owed the tax authorities $17.5 million even after he was released. That means he can’t exactly afford the movie star lifestyle he was accustomed to way back when.
Tila Tequila
In the 2000s, Tila Tequila was an immensely famous reality star, and her MTV dating show, A Shot at Love with Tila Tequila, was a huge hit. She was making good money while the show was on air but was loath to give up her extravagant lifestyle even when it ended, and landed herself in some financial hot water.
Seems like the singer and model is definitely not living the glamorous lifestyle anymore. In 2016, she even asked her fans to help pay rent for the apartment she was living in with her daughter, including a link to her own GoFundMe page.