I’m sure that we have all have heard of celebrities who squander their fortune on booze, partying, poor investments, and careless spending. Former stars like Gary Coleman, MC Hammer, TLC, and others have fallen victim to bankruptcy and losing it all (although some have bounced back from the perils of their impoverishment).
With all of the examples that demonstrate how folks should be more careful with their money, stuff like that doesn’t happen anymore, right? Wrong. With that, I decided to compile a list of the top 5 poorest celebrities that are still relevant in social media today .
Honorable Mention Scott Storch (Net worth: $300,000)
Scott Storch is a hip-hop super producer who was responsible for producing several great hits including Fat Joe’s “Lean Back” and Chris Brown’s first smash hit “Run It.” Storch’s first big commercial hit was when he collaborated with Dr. Dre and helped produce the riffs for the song “Still D.R.E.” as well as his involvement on a number of other popular billboard hits. Scott Storch once had a fortune exceeding $70 million, but after filing for bankruptcy, today his net worth is just $300,000.. Scott Storch squandered his fortune on cocaine and an extremely lavish lifestyle that included private jets, jewelry, a $20 million yacht, a $10.5 million Miami mansion, dozens of cars and expensive celebrity girlfriends like Paris Hilton. In January 2008 Storch was arrested for failing to pay child support. In April 2009 Scott was arrested and charged with grand theft auto after refusing to return a leased Bentley that he hadn’t made a payment on in seven months. Storch’s $10.5 million Palm Island mansion was repossessed by a bank and sold for $6.75 million.
5. Mike Tyson (Net worth: $1 Million)
I think everyone knows about this one. Mike Tyson is a retired American boxer who at one point was the undisputed heavyweight champion of the world. During the peak of his career, Mike Tyson earned and squandered an entire $300 million fortune. In August 2003, after years of financial struggles, Tyson finally filed for bankruptcy. Tyson has taken acting roles in movies and television, most famously playing a caricature of himself in the 2009 film The Hangover. With the few performances he has had in TV and movies, Tyson has been able to maintain a modest net worth of only $1 million.
4. Wesley Snipes (Net worth: $1 Million)
Wesley Snipes is an American actor who was born in Florida and currently has a net worth of $1 million dollars. An actor, producer, and martial artist, Wesley Snipes has starred in such films as New Jack City, White Men Can’t Jump, Waiting to Exhale, and most famously, the “Blade” trilogy. He also formed his own production company in 1991. In 2010, Snipes began serving a three-year prison sentence in McKean County, Pennsylvania for misdemeanor failure to file U.S. federal income tax returns and falsely claiming taxes in amounts that exceeded $10 million. He was released from prison in 2013. Snipes now is only worth $1 Million despite his great success.
3. Suge Knight (Net worth: $200,000)
Suge Knight was a producer and the CEO of Death Row Records. Suge Knight signed such as artists Dr. Dre, Tupac Shakur, and Snoop Dogg. Death Row Records fell apart after Mr. Knight was jailed for parole violations in 1996. Suge Knight filed bankruptcy due to civil litigation against him in which Lydia Harris claimed to have been cheated out of a 50% stake in Death Row Records. Prior to filing, Knight had been ordered to pay $107 million to Harris. His civil and criminal woes has Knight’s estimated net worth of $200 thousand.
2. Bow Wow (Net worth: $10,000)
Bow Wow is a rapper, actor, and singer who has released seven albums, beginning with 2000s “Beware of Dog”. He has also performed a number of leading and supporting roles in films such as Like Mike, Roll Bounce, and Lottery Ticket. Bow Wow most recently appeared in filmmaker and playwright Tyler Perry’s film Madea’s Big Happy Family. However, in 2011, Bow Wow revealed that he fathered a child with his ex-girlfriend after months of denying the rumor. During an October 2012 court case regarding child support, Bow Wow told a judge that he has no money. Bow wow claimed he makes just $4000 a month as an employee of Birdman’s Cash Money records, leases a jeep and has an embarrassing $1500 in his checking account. He was eventually ordered to pay $11,500 in back child support and $3000 a month from now on. A year earlier, TMZ discovered that Bow Wow owed over $90,000 to the IRS. It was also revealed that the rapper has had both a $200,000 Bentley and a $220,000 Ferrari repossessed. Bow Wow still owes $280,000 to a luxury car leasing company.
1. Lindsay Lohan (Net worth: $10,000)
Lindsay Lohan is an American actress, model and recording artist whose fame began with her role in Disney’s remake of The Parent Trap, and continued with Freaky Friday (which grossed $160 million worldwide) and Mean Girls (which grossed $129 million worldwide). Lohan also became a household name after releasing platinum and gold recording albums in 2004 and 2005, respectively. However, in spite of her success, she is known for her expensive lifestyle and has faced many legal and personal problems which have eaten up a huge percentage of her net worth. Lohan’s personal and professional lives have been as turbulent as ever in the last year. Her reputation as an unreliable party girl has cost Lindsay many opportunities for quality mainstream work. In December 2012, the IRS seized control of Lindsay’s bank accounts to pay back the $233,000 she owes in unpaid federal back taxes. Recently, with only 10 thousand dollars too her name, it was revealed that Charlie Sheen wrote Lindsay a $100,000 check to help pay her debts. Unfortunately, that amount of money still isn’t enough to help her great debt.