Most people associate being famous with being rich (well, obviously), but that isn’t always the case. As it turns out, wealth and fame are not necessarily synonymous. Thanks to excessive partying, poor financial decisions, legal issues, and taxes – some celebrities end up squandering their fortunes, leaving them with just the fame title. Unfortunately, they don’t realize that the heavy cash flow they have coming in might eventually dry up. So, instead they opt out of saving cash for a rainy day. These types of celebrities are great examples as to why it’s important to be careful with your money and to have savings, no matter how fast it’s pouring in. It’s pretty clear that these lessons apply to all of us, whether we’re rich or not. After all, there’s nothing worse than climbing all the way to the top, only to hit rock bottom in no time. Here are ten famous celebs who lost it all and might actually be poorer than you.
10. Lindsay Lohan ($500,000)
Prior to 2007, Lindsay Lohan had it all – money, fame, a hot career and a very bright future. She starred in a slew of box office hits, including Freaky Friday (2003), Mean Girls (2004) and Herbie: Fully Loaded (2005), solidifying herself as a teen idol and a household name. She was once one of the highest paid actresses in Hollywood and by 2007, Lohan had amassed a net worth of $30 million thanks to endorsements and her acting and music career.
However, due to legal troubles, partying, a bad reputation and poor spending habits, Lindsay had squandered her fortune by 2010. With $233,000 in back taxes, $1,000,000 in legal fees, $200,000 in rehab expenses and reckless spending, Lohan’s net worth dwindled quickly. According to Forbes, Lohan blew $7.5 million on hotels, tanning, clothing, partying and luxury cars, in 2007. By 2010, Lindsay had a net worth of $105,000. For the past five years, Lohan has been trying to revitalize her career and fix her reputation. She now has a net worth of $500,000, but that’s a long way from the $30 million fortune she once had.
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