24 celebrities whose millions disappeared
Some people excel at the “penny earned” part of the equation, becoming multimillionaires at their peak. It’s that whole “penny saved” part that’s the real problem.
These celebrities made headlines due to money mistakes — which is not exactly the type of fame they signed up for. Some even filed for bankruptcy or ran into trouble with the IRS.
By comparing their lifetime earnings to their current wealth on the site Celebrity Net Worth, you clearly see just how far a star can fall. Here are some of the biggest winners that ended up losers.
Lauryn Hill
Grammy-winning R&B artist Lauryn Hill, a former member of the Fugees, made an estimated $25 million at the peak of her career in the 1990s. However, the following years weren’t kind to her.
In 2001, she paid $5 million to settle a lawsuit with four musicians who said they weren’t properly credited on her critically-acclaimed debut solo album The Miseducation of Lauryn Hill.
In 2013, Hill served a three-month prison sentence for failing to report more than $2.5 million in income and for failing to file tax returns.
At the time of writing, Hill’s net worth was estimated at $9 million.
Stephen Baldwin
The American actor, producer, and author, who is known for his films, The Usual Suspects” and Bio-Dome.” He is also a member of the famous Baldwin family of actors, including his brothers Alec, Daniel, and William.
He’s also the father of Hailey Bieber.
In 2009, Baldwin’s New York home was auctioned off due to more than $800,000 in defaulted mortgage payments, with tens of thousands in unpaid taxes.
That same year he filed for Chapter 11 bankruptcy and faced a $300,000 back tax penalty for failing to file New York state income taxes for three consecutive years.
Baldwin’s net worth is currently sitting at $1 million.
