by Moneymax, on category "Lifestyle"
June 19, 2014
You may think that these top celebrities have fewer worries in terms of their finances, but since they own more money than most of us, they have more to spare – and more to lose. Here are top celebrities that have their own share of financial nightmares:
Known as the first supermodel in the world, Janice Dickinson was most popular in the 70′s and 80′s. She remained pretty much active with her memorable stints for America’s Next Top Model and The Janice Dickinson Modeling Agency. Her frequent visits to plastic surgeons and dermatologists took a toll on her as she raked in a lot of financial liabilities, which includes dues to her landlord and the IRS. Dickinson filed for bankruptcy in early 2013.
After her divorce from her German husband, Kelly Rutherford saw her financial crumble soon after a court ruled that their kids should live in France with their father, and the Gossip Girl actress must travel to visit them. Rutherford filed for bankruptcy because of debts amounting to $2 million that was primarily due to her divorce and custody dispute.
According to showbiz insiders, Nora Aunor, one of the soon-to-be proclaimed Philippine National Artists, lost a huge percentage of her earnings when she produced movies in the ‘70s. There are also reports that the superstar encountered a lot of financial woes during her long stay in the US and before her comeback.
The renowned Octomom filed for bankruptcy in Los Angeles, citing her inability to pay her bills and liabilities that is estimated to reach a maximum of $1 million. Suleman is known to have signed up for provocative photo shoots and even porn videos just when she admitted her financial difficulty. Suleman said in one of her interviews, “I’ve had to make some very difficult decisions and Filing Chapter 7 was one of them. But I have to do what is best for my children and I need a fresh start.” Suleman has 14 children.
Before Manny Pacquiao rose to fame, Luisito Espinosa is one of the most treasured Filipino athletes who represented our country on the world stage. The former world boxing champion went bankrupt after his boxing manager pocketed most of his pot money. Espinosa is said to be currently working as a warehouse man in the US.
Speaking of boxing, the People’s Champ’s recent victory against Timothy Bradley was clouded by a tax evasion controversy. The eight-division world boxing champion-politician is in a match against the Philippines’ BIR for approximately P2.1 billion and the US’ IRS for $18 million in back taxes.
Who is crazy enough to buy dinosaur skull bones and a funeral pyramid? There’s no one else crazier than Nicolas Cage. The Hollywood actor was charged for tax liabilities of more than $6 million for FY 2007 by the IRS. Cage sold some of his properties and other valuables after his problem with the IRS was made public.
Courtney Love is deeply inlove with her American Express credit card. After a series of news reports that she is caught in a financial crisis, American Express sued the singer for over $350,000 in liabilities from her credit card transactions. The Sun, a British newspaper, stated that Love was allegedly banned from a trust fund set up for her and her daughter.
The Kapamilya actress recently settled an alleged P100-million back account with the BIR to avoid prosecution for tax evasion. BIR reportedly gathered information from Curtis’ clients which showed that she earned more than P350 million over a three-year period. Insiders said the actress’ tax debts included the annual 20% interest and 50% surcharge on deficiency income, value-added, and expanded withholding taxes
There have been a lot of speculations about Willie Revillame’s financial downfall due to a very lavish lifestyle and gambling problems. While Revillame has already denied rumors of bankruptcy, there are reports stating that the actor-TV host is caught in debt and has sold most of his properties, including luxury homes, yacht, and private jet.
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