Celebrities Who Were Rich And Famous Before Losing All Their Money

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We often think of celebrities as having it all and then some. And, in many cases, this is correct. However, over the years, people have made it to the top in terms of wealth and fame, only to lose it all for one reason or another.

Aaron Carter

Aaron Carter, the younger brother of Nick Carter of the Backstreet Boys, shot to fame as a youngster in the music world, primarily because of the success the Carter name had already established. And as the saying goes, some people can have it all too soon. Carter was only a kid when the spotlight was shone upon him, and after some success, things soon started to go wrong when he turned eighteen and was hit by a massive tax bill, which has since led to a Chapter 7 bankruptcy being filed and debts exceeding $100,000.

50 Cent

50 Cent is a hip-hop icon and renowned for living the high life. He’s been seen many times at some of Las Vegas’ leading gaming venues. Whether it may be on the actual casino floor or online, playing slots games has always been a favourite for Fiddy, amongst other gambling activities. However, the In Da Club star took many gambles since rising to fame, and after lawsuits mounted up, he declared himself bankrupt in 2015. Reported debts had reached huge amounts of up to $32.5 million. And although claims were made that 50 Cent was still heavily invested profitably in cryptocurrency BitCoin at the time, it’s something the rapper denied.

Mike Tyson

Mike Tyson came on the scene and made a massive impression when he became the youngest man ever to win the world heavyweight title in boxing. Tyson was a knockout artist who specialised in destroying every opponent who stood in his way, leading to him becoming the undisputed heavyweight champion. However, there was one fight he couldn’t win, and that was when he owed millions to the IRS and lawyers, amongst others. Iron Mike also had to pay a $9 million divorce settlement. Ultimately, Tyson had to declare himself bankrupt and serve time in jail. He’s since rebuilt himself professionally with investments in multiple businesses.

Floyd Mayweather Jr.

Floyd Mayweather Jr.’s nickname is “Money Mayweather,” which will be quite ironic shortly. Pretty Boy Floyd is undoubtedly one of the greatest boxers ever to live and ended his professional career on 50-0. So, it’s fair to say that Money Mayweather made a lot of money. However, like Tyson, Mayweather Jr. neglected his duties to the IRS and was slapped with a tax bill said to be worth over $22 million. It’s reportedly why he’s repeatedly come out of retirement to fight in exhibitions. But, one of his most recent opponents, Logan Paul, claims Mayweather Jr. still owes him millions after their exhibition bout. So, maybe Money Mayweather is still struggling on the financial front.

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