9 Stars Who've Filed for Bankruptcy

Some of them have even filed twice

By Evann Gastaldo,  Newser Staff

Posted Mar 8, 2014 1:35 PM CST

(Newser) – Being famous doesn't guarantee you'll never go broke, as these celebrities rounded up by Radar prove. A sampling:

  • Burt Reynolds: He filed for bankruptcy in the 1990s after his divorce; he was $10 million in debt at the time.
  • Toni Braxton: She's declared bankruptcy not once but twice, most recently in 2010.
  • Willie Nelson: He owed the IRS more than $16.7 million when he filed for bankruptcy in 1990.
  • LaToya Jackson: She got into debt thanks to her failed music career, and declared bankruptcy in 1995.

  • Larry King: He filed for bankruptcy in 1978, when he was $350,000 in debt, before making it big on CNN.
  • Cyndi Lauper: After her group disbanded and she was sued by the manager, she filed for bankruptcy in 1981. But then her solo career took off.
  • MC Hammer: He was more than $13.7 million in debt when he filed for bankruptcy in 1996.
  • Donald Trump: Not only has he filed for bankruptcy—he's done so twice, but obviously rebounded both times.
  • Kim Basinger: She had to file for bankruptcy after pulling out of a movie and owing the studio $8.1 million in damages.
Click for the complete list of 18, including one sports star who bounced a check to an escort.

Actress Kim Basinger arrives at the premiere of "Twilight" in Los Angeles on Monday, Nov. 17, 2008.   (AP Photo/Matt Sayles)
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