Celebrities Who Can’t Handle Their Money

We probably all know someone who could use a little assistance when it comes to managing their money. The same is also true of celebrities. You’ve likely heard the latest news or read a recent headline about a certain celebrity taking on less-than-desirable roles just to pay a hefty IRS debt.

More than a few celebrities have been found guilty of tax evasion or not reporting their taxes properly, which puts them in financial burden, even landing some of them in jail.

Read on for a few of Hollywood’s once A-list names who have fallen into financial trouble, which can bring anyone from any social stature down to their knees in what seems like an instant. But, really, it’s a series of poor decisions and generally has to do with a person living outside of their means — which even celebrities can do!

Johnny Depp

Jack Sparrow himself is not impervious to financial burden. In 2015 Johnny Depp’s former managers filed a lawsuit countering Depp’s own lawsuit earlier that year in which they stated that Depp spends an extravagant amount of money on things like staff, real estate, and, yes, also wine. Court documents also revealed that Depp was living a $2-million-a-month lifestyle, splurging on things like 14 residences, an 18 million dollar luxury yacht, and upwards of $30,000 per month on vino.

Floyd Mayweather

You’ve likely heard of the latest spectacle behind Mayweather as he owes the IRS money, which is partially why he’s been forced out of retirement, to pay $22.2 million that he allegedly owes to the IRS.

Nicholas Cage

Despite many a fan having a lot of love for Nicholas Cage — even though he’s been taking on questionable roles as of late in order to settle debts, Cage is still settling his financial troubles from failing to pay his tax bill in 2007. He had to hand over $6 million to the IRS as a result. He also had to resort to selling his belongings.

Visit this site often and frequently for more of the latest news and information about money management (and mismanagement). Following Michelle Marquez’s financial management advice will help readers and future clients gain perspective and build wealth.