Celebrities Who Came Back from Financial Ruin
Michelle Marquez on Celebrities Who Bounced Back from Bankruptcy
When we think of financial trouble, we generally experience it through our friends, family members, and in some cases ourselves. It probably shouldn’t be newsworthy that a celebrity runs into financial trouble, but, in our pop-culture-crazed times, for some reason celebrities in financial trouble (or in some cases even financial ruin) continue to make headlines.
Below are a few celebrities who ran into money trouble and bounced back in a big way. This serves as living proof to you, your friends, your family, and anyone who experiences financial hardship can bounce back, too.
Before he was in Men in Black, before he was in Bad Boys, even before he was The Fresh Prince of Bel Air, Will Smith actually was experiencing some real financial troubles. He owed the IRS around 2.5 million — only they gave him the bill after he’d already gone on a spending spree. Smith luckily landed the role of the Fresh Prince, which he used in part to pay off his debt — the IRS garnished 70% of his wages until the debt was paid in full. Sounds like he didn’t make that same mistake twice with the whole forgetting to pay his taxes thing.
Lady Gaga put up every penny of the $3 million she had to her name into constructing a stage for a performance during her 2009 Monster’s Ball Tour, as a way to get Arthur Fogel’s attention. Gaga was penniless for a split second, but the idea worked. Arthur Fogel and Live Nation cut her a check for $40 million as a result.
Walt Disney started his first film company (called Laugh-Oh-Gram) back in 1922, making short advertising films and cartoons. The company ended up getting cheated by a distributor — yes, the entertainment industry was shifty even back then. Laugh-Oh-Gram was bankrupt in 1923. However, Disney would bounce back a few short years later, coming up with his iconic Mickey Mouse in 1928.
So, you see, people can come back from financial hardship or even financial ruin. For some, it even acts as a springboard to new successes. Visit the Michelle Marquez accounting and financial management for more money news and information that can help you get a better foothold in life. Here’s to your financial stability and prosperity.