50 Cent was earning around $300 million at a time but he revealed about his bankruptcy in 2015 claiming to be more than $20 million in the hole and shared pictures on social media posing with stacks of $100 bills with the word ‘broke.’
Kim Basinger was rich at one point but she faced a lot of financial difficulties. She was cast in Boxing Helena but left the film after realizing the creepy tone and was asked to pay a judgment of $8.1 million, following which she filed for bankruptcy.
Marvin Gaye had to declare bankruptcy once following his divorce in 1976 where he had to pay all royalties from his next album to his ex-wife to make up for unpaid alimony worth $600,000.
The late Larry King also had some financial issues where he was arrested in 1971. The charges against him were dropped but he became toxic to employers and a four-year stretch without work left him with a debt of $350,000.
Tom Petty declared bankruptcy in 1979 as a legal gambit to free himself from a restrictive contract with his record label. He was in debt because of a practice of paying artists advances against future earnings.
Gary Coleman was reportedly earning around $64,000 per week for his appearances on Different Strokes. But he did not get any other chance after the show ended and had debts of around $70,000 by 1999.
Toni Braxton was once a millionaire and after filing an unsuccessful lawsuit against a record label, declaring bankruptcy in 1998. She filed for bankruptcy in 2010 after facing several lawsuits from creditors.
Comedian Sinbad has two bankruptcies with the first one coming from a massive tax debt in 2009. He once again filed for bankruptcy for his business expenses in 2013.
Despite being a popular boxer, Mike Tyson declared bankruptcy in 2003 and listed debts in around $27 million where $18 million were unpaid taxes. The rest were legal fees worth $600,000 and unpaid child support of $50,000.
Meat Loaf declared bankruptcy in the 80s due to a protracted legal battle involving songwriter Jim Steinman and his record label. He said that he had 45 lawsuits totaling up to $80 million thrown at him.