15 Celebrities Who Became Insolvent

Following is a list of very famous celebrities who went bankrupt after a great success.

Donald Trump 
Donald has been successful in managing his personal property apart from the business liquidity whereas he has declared his corporate insolvency in 1991, 1992, 2004 and 2009 which is yet a huge success breakdown.

Nicolas Cage 
Nicolas Cage has to face a sudden downfall in 2009 that he sold all his assets and filed insolvency. He was seeking performing role to meet his current needs through the checks until he regain his wealth back. It downfall explains many things.

Mike Tyson 
Tyson is famous for his good management, extravagance and easy prenuptial agreement which take him to lose the $400 million which he earned in the boxing career.

Courtney Love 
Although, she has not been completely dumped in the bankruptcy, whereas, her creditors are dragging her to insolvency by pleading millions against her. Whereas according to "The Sun" reports, she is trying to cash out her daughter's trust capital.

Betsey Johnson 
In spite of successful designing for "Sex and The City" Betsey Johnson's label also shows insolvency in May 2012 while the house is in a mess. Whereas Betsey argues that she'll continue her career in major department outlets.

Allen Iverson 
Allen Iverson wasted millions of dollars in buying gifts for his family and friends. In February 2012, a jeweler sued him for $860,000 in due credits after which he filed for bankruptcy.

Abraham Lincoln 
Abraham Lincoln filed for insolvency two times in his life. The first time when he was about to begin a prominent career where he let the slave free from the slavery trade and a second time after a lucrative movie deal.
Larry King 
In the year of 1978, Larry King declared himself a bankrupt as well as stolen $5,000 from his business partner (allegedly). Now it’s the time to pay it off, Larry.

Toni Braxton 
Toni’s deteriorating health created liquidity issues for her which resulted in increased medical bills that drove her to two bankruptcies.

Elton John 
Elton John has an interesting craze of spending a lot on the stylish costumes that led him to "bankruptcy" to the IRS in 2002. He is very successful in personal financial management, but he still looks amazing.

Cyndi Lauper 
Cyndi Lauper the famous pop star of the early 80s has also faced bankruptcy and had to work in retail for completing expenditures.

Walt Disney 
You wouldn’t always have a successful first attempt. The first company Walt incorporated with the name of Laugh-O-Gram Studios went insolvent that Walt has to eat beans from a can and spent some time in his office to survive. Whereas when he tried to survive, he was left with enough money left to buy a ticket to Hollywood - the rest is part of history.

Wesley Snipes 
The blade was not able to wipe away the bankruptcy. In 2006, the administration brought legal charges against him for $12 million, whereas he achieved it back by not paying taxes for six years.

Willie Nelson 
Willie has to face the financial instabilities in the year of 1990 when he had to pay around $17 million to the government. To up-rise from the bankruptcy, he has launched an album named "The IRS Tapes: Who'll Buy My Memories."

Chris Tucker 
Chris Tucker's "Silver Linings Playbook" role pushed him out of the bankruptcy as he was facing severe financial difficulties along with the bankruptcy. At the moment he owed more than $15 million to Sun Trust Bank and the central government.