These Celebrities Went Bankrupt and Lost Everything

It’s actually quiet unbelievable to see how many people who’ve obtained so much success can ignore the small things and lose it all. Here’s a list of successful people from the film, music, political and business industries. These celebs went from owning the biggest, most luxurious mansions to losing it all and racking up a ton of debt, and filing for bankruptcy.

Nicolas Cage

attends a screening of Summit Entertainment's "Drive Angry 3D" at ArcLight Cinemas on February 22, 2011 in Hollywood, California.

We all know who Nicolas Cage is, and we also all know that he makes millions of dollars. Numerous websites claim that over the course of 15 years, he earned over $150 million just for acting alone.

So, how does a millionaire go bankrupt? Easily — he spent all the money on mansions, private jets, cars, a medieval castle and even an island in the Exuma Archipelago. He finally put a stop to all his wild purchases when he discovered that not only did he blow through all his money, but now owes the IRS about $13 million.

The only way out of the bankruptcy for him was through selling many of his assets, and suing his financial manager for negligence and fraud.