11 rich and famous people who became poor

It's hard to believe that famous people can turn out to be poor. However, it happens. From lavish spending to expensive divorce, you'll be amazed at how quickly a celebrity can burn millions of dollars. Curious to know who these famous people are? Here are 11 rich and famous people who turned out to be poor.

11 PHOTOS

1. Francis Ford Coppola.

Renowned director Francis Ford Coppola, who directed The Godfather and Apocalypse Now, went bankrupt not just once, but three times. In his third bankruptcy, he owed a partner $ 71 million. Many of his financial problems are related to financing his films from his own pocket.

2. Ulysses S. Grant

Civil War general and 18th President of the United States, Ulysses S. Grant may have found success on the battlefield and in politics, but not in private life. Before and after his military and political career, his business ventures were very unprofitable. After his presidency, he made bad business decisions that led him to bankruptcy.

3. Toni Braxton.

Toni Braxton was a massive pop star, selling 15 million albums worldwide and winning five Grammys. She grossed $ 170 million from her albums, but only retained $ 5 million, less than 3 percent. She also owes millions to managers, lawyers, and banks.

4. Nicolas Cage.

During his massive popularity as an actor, Nicolas Cage made $ 150 million. He wasted it all. From luxury yachts, islands, shrunken pygmy heads, the first Superman comic - it's safe to say that Cage's habits and spending were abnormal. And that wasn't even the tip of the iceberg. Due to his bankruptcy, he had to sell a ton of his belongings and star in as many films as possible to pay off his debts. This is why you've probably seen him in super-budget movies over the past few years.

5. MC Hammer.

In the 80s and 90s, MC Hammer amassed a huge fortune, bought a massive mansion and a host of other luxury items. By 1996, he filed for bankruptcy.

6. Mike Tyson.

One of the most famous boxers in the world, Mike Tyson has earned $ 300 million over the course of his career. But in the early 90s, he faced a prison sentence for rape and divorce that cost him millions. He later returned, earning millions more, but eventually filed for bankruptcy, spending it all.

7. Kim Basinger.

Kim Basinger was forced to file for bankruptcy when she was unable to meet the required payments for the violation of the court order.

8. Mark Twain.

Renowned American author Mark Twain made a number of bad investments, including pumping millions into an invention that became obsolete when it was released.

9. Johnny Depp.

Known for his roles in Edward Scissorhands and Pirates of the Caribbean, Johnny Depp was a mindless waste. Depp filed a lawsuit against his management company, blaming them for his financial problems.

10. Walt Disney.

]Before he became wildly successful and insanely wealthy, Walt Disney's first business venture was a complete failure. In 1922, he started his first film company, but after being defrauded by distributors in New York, Disney couldn't pay his bills and was forced to file for bankruptcy.

11. Michael Jackson.

How could the king of pop make this list? The number of lawsuits against him was enormous. This is especially true in cases of child abuse. At the time of his death, he said he owed almost $ 500 million.