Celebrities who've lost fortunes:

M.C. Hammer
if only he'd have said "can't touch this" about his bank account. The entertainer owed $13.7 million in 1996 and was forced to file for bankruptcy.






Chris Tucker
Funnyman Chris Tucker had big Hollywood hits on his hands with the "Rush Hour" and "Friday" franchises, but it wasn't enough to bring him a stable financial life. Records show that Sun Trust Bank has filed foreclosure papers against Tucker for his $6M Florida mansion. Foreclosure Imminent for Octomom According to TMZ.com, media sensation Octomom and her many babies could soon be homeless. And it seems she has been flirting with foreclosure for some time ... every few months a new report seems to surface. While she never had a Hollywood fortune, "Octomom" likely took home big pay days for her various media interviews and appearances, not to mention that bikini magazine cover. And whether rich or not, she definitely had enough money to get approved for a half-a-million dollar home. Only time will tell how Nadya's finances will eventually fare.

Nicolas Cage
Nicolas Cage saw his financial woes made public back in 2009 and it's been a flood of bad press ever since. The poor guy was even forced to sell his prized comics and castles after a 2008 financial collapse, Cage has put the blame on his former business manager, but a string of poorly reviewed films and personal issues haven't helped

Joe Francis
In 2009, the 'Girls Gone Wild' creator reportedly owed over $34 million in back taxes and was forced to file for bankruptcy. He also went to jail late that year. But it hasn't been all bad for Hollywood's most-hated businessman since he was released from prison. Last month, he won a small victory when a Las Vegas judge tossed out a $2.5M casino debt that Steve Wynn accused him of owing.

Lorraine Bracco
Harvey Keitel's ex wife filed for bankruptcy in 1999, after a pricey custody war over daughter Stella. Luckily, she dug herself out of debt with pay checks from hit HBO series 'The Sopranos.'

Mike Tyson
The famous boxer reportedly earned $300 million in his career, but it wasn't enough to support a lavish lifestyle that famously includes pet tigers. That's a lot of cat food. He filed for bankruptcy in 2003, owing $27 million. Fun Fact: During his divorce, Tyson reportedly paid $9 million in legal fees.

Kim Basinger
Alec Baldwin's ex came across financial problems after reportedly buying the town of Braselton, Georgia for $20 million, then selling it for $1 million. You do the math. Basinger filed for bankruptcy in 1993 when a judge ordered her to pay Main Line Pictures $8.1 million after backing out of a commitment to star in 'Boxing Helena.' Hmm. Maybe her ex Alec Baldwin was on to something.

Randy Quaid
Dennis Quaid's trouble-making brother had to file for bankruptcy after he wound up $1 million in debt. In 2010, he sued his financial advisor for plundering his millions. Late that year, he and wife Evi went on the lamb for felony vandalism and trespassing charges to Canada, citing fears that a group of "Star Whackers" was looking to murder them. It's gotten so bad, in fact, that Dog the Bounty Hunter is now looking for him, publicly declaring the star "fair game." Yikes!

Don Johnson
The 'Miami Vice' star filed for bankruptcy in 2004 to save his $20 million Colorado ranch from being sold at auction. He was able to keep the ranch and later paid off his debts. Nice save, Crockett!

Dorothy Hamill
The Olympic skating champion and bowl cut poster girl was faced financial ruin after buying the struggling Ice Capades. She sold the company in 1995 and filed for bankruptcy in 1996.

Burt Reynolds
Before his 'Boogie Nights' comeback, Reynolds was reportedly $10 million in debt when he filed for bankruptcy after his 1996 divorce.

Meat Loaf
Actor and singer Meat Loaf was $1.6 million in debt when he filed for bankruptcy in 1983. Lucky for him his 1977 album 'Bat Out of Hell' still sells around 200,000 copies a year, so he's bounced back. Hey, good hairpieces are not cheap.

Wayne Newton
Wayne found himself in more that $20 million in debt in 1992, forcing the singer to file for bankruptcy. He found his way out of debt with a stint at Vegas venue the Stardust.

Mickey Rooney
The actor filed for bankruptcy in 1996 when he owed over $1.75 million to the IRS.

Willie Nelson
The singer declared bankruptcy in 1990. The $16.7 million he owed the IRS inspired the release of an album entitled, 'The IRS Tapes: Who'll Buy My Memories?' Willie avoided jail and toured incessantly to pay off his debt, and is on the road to this day.

Donald Trump
Trump may the second highest paid man on television thanks to "The Apprentice," but in 1990 he was $900 million in debt. Thanks, reality TV!

Val Kilmer
In 2009, the IRS filed a $533G lien against the actor. Since then, he's tried to recover by putting the buck of his $33M New Mexico ranch on the market. It sold last month for $18M, which should be enough to help the star crawl out of his financial hole.

Toni Braxton
Oh, Toni. In the 1990s, Braxton was one of the music industry's biggest names with her hits like "Breathe Again" and "Unbreak My Heart." But in 1998, when she should have been living as stable as they come, she was forced to file for bankruptcy. She seemed to recover temporarily in the 00's, but when health problems forced her to cancel her Las Vegas show, she filed a second time in 2010 after her debts reportedly spiraled to between $10 and $50M.

Posted in: