How Did Movie Stars Lose All Their Wealth?

Being a millionaire does not guarantee that you will have enough money to lead the life you want and not worry about the future. In fact, the more you have, the easier you can lose it. Certain Hollywood celebrities know it all too well. Find out which movie stars have lost their wealth or got in debt because of some irrational decisions and reckless choices.

Nicolas Cage

Who would have thought that one of the most recognized movie stars of our generation can have financial problems? Once his net worth was estimated to be around $150 million, but these days are almost certain to be over. His two hit productions, Gone in Sixty Seconds and National Treasure brought him a profit of $20 million each, but since then, the actor has managed to lose a great part of his wealth. He managed to purchase luxury vehicles, homes and even rare artifacts. However, in 2009, the IRS discovered that he failed to pay his tax bills a few years in a row – the total sum of $13.3 million, according to certain sources. Since then, the actor had to get rid of some of his luxurious possessions and his net worth is now no higher than $25 million.

Burt Reynolds

Although younger generations might not be familiar with the name of Burt Reynolds, he was the real Hollywood heartthrob back in the 80s. He was a movie and television series star and his wealth back in the day of fame was astonishing. The actor lost almost his entire fortune estimated to be around $40 million and was not able to pay back his debt. In the times of glory, he spent much money on real estate, horses, and private jets and when the financial difficulties started, he was forced to let go of many of his luxurious mansions.

Stephen Baldwin

Stephen Baldwin might not be as well-known as one of his brothers, Alec, but he still managed to secure himself some wealth during his acting career. At least until he was forced to file for bankruptcy in 2009. The actor is probably most famous for his role in The Flintstones Viva Rock Vegas and The Usual Suspects. The reason for him filing for bankruptcy was the money owned on taxes and mortgages.

Johnny Depp

It’s challenging to name more famous and well-known actors in modern-age Hollywood than Johnny Depp. He’s recognized and appreciated for more than just one role, as everyone knows him from such various productions as What’s Eating Gilbert Grape, Edward Scissor Hands or The Pirates of the Caribbean. However, the actor was named the most overpaid in Hollywood, not one, but two years in a row. With earning as much as $20 million for a movie, it might seem that Johnny Depp should not have any financial problems. In this case, his luxurious, not to say flamboyant lifestyle, led to the actor’s difficulties in this matter. However, he did not file for bankruptcy nor struggled with debts, but he’s definitely not been cautious and careful with his money.

Shia LaBeouf

Shia LaBeouf was predicted to become the next big thing in Hollywood, but as his star was shining bright it actually fell real quick. He might not be the best example of a star that has lost it all, as his fortune is, at least officially, still considerable, but Shia’s erratic behavior has held back the further development of his career and the possible growth of income.

Ben Affleck

Although Ben Affleck is, the same as Shia Labeouf, not exactly a movie star that has lost his wealth, it’s good to mention that some celebrities, just like many of us, have some addictions and problems that might get out of hand. Affleck has a gambling problem that caused him a ban on blackjack in the Hard Rock Casino for alleged cheating. That’s the risk with playing in a real casino, after all. If you are in for real fun, no cheating, and everything safe and secure, you will be better off using the best online gambling site like Vegas Slots Online to make sure that no one cheats there – not even a privileged movie star!