- Some celebrities have been known to be frivolous spenders
- Many big stars have gone on to lose incredible fortunes
- Here are some of the worst offenders when it comes to squandering money
It's crazy how it can happen but it's true. Some of us work for years to save up enough for a small vacation. But musicians, athletes, movie stars and more manage to reach new monetary heights and somehow manage to spend it all and even find themselves bankrupt and in debt!
These celebs simply couldn't help themselves
Hollywood is no stranger to people falling from grace. Here are 10 celebrities that made all the money they needed and lost it. Let's start with one of the most famous faces to have ever walked the earth: Michael Jackson!
The King of Pop had to ask for several loans, some of which he never repaid. His famous Neverland ranch was even at risk of being foreclosed. At his passing, a coroner's assistant estimated that he was between $400 and $500 million in debt.
Watch the video above to learn more!