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12 celebrities who went bankrupt

  • <b>Anna Nicole Smith, model</b><br><br>The controversial former Playboy Playmate filed for bankruptcy following the death of her second husband, oil tycon J. Howard Marshall, in 1995. Marshall, who Smith married thirteen months before his death, had not included her in his will. Subsequent claims and court proceedings carried on for nearly 16 years, reaching the Supreme Court in 2011, four years after Smith died of a prescription drug overdose.
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    Anna Nicole Smith and her dog

    Anna Nicole Smith, model

    The controversial former Playboy Playmate filed for bankruptcy following the death of her second husband, oil tycon J. Howard Marshall, in 1995. Marshall, who Smith married thirteen months before his death, had not included her in his will. Subsequent claims and court proceedings carried on for nearly 16 years, reaching the Supreme Court in 2011, four years after Smith died of a prescription drug overdose.
    Steve Granitz
  • <b>Burt Reynolds, actor</b><br><br>Once one of Hollywood's most bankable stars, Reynolds finances were hampered by messy romantic relationships and bad investments, leading to a bankruptcy filing in 1996. In 2011, Merrill Lynch foreclosed on his $1.2 million Florida home.
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    Αγνώριστος ο Burt Reynolds από τις πλαστικές!

    Burt Reynolds, actor

    Once one of Hollywood's most bankable stars, Reynolds finances were hampered by messy romantic relationships and bad investments, leading to a bankruptcy filing in 1996. In 2011, Merrill Lynch foreclosed on his $1.2 million Florida home.
  • <b>Vince McMahon, CEO, WWE</b><br><br>Iconic professional wrestling promoter Vince McMahon, along with his wife Linda, built WWF / WWE into the entertainment giant it is today, but earlier in their career, some bad bets, including an investment in a failed Evel Knievel stunt attempt, pushed them into bankruptcy.
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    WWE: Στο επόμενο Raw SuperShow o Vince McMahon

    Vince McMahon, CEO, WWE

    Iconic professional wrestling promoter Vince McMahon, along with his wife Linda, built WWF / WWE into the entertainment giant it is today, but earlier in their career, some bad bets, including an investment in a failed Evel Knievel stunt attempt, pushed them into bankruptcy.
  • <b>Francis Ford Coppola, filmmaker</b><br><br>The acclaimed director of The Godfather, Apocalypse Now and The Conversation fell into financial ruin following the massive flop of glitzy 1982 musical One from the Heart. Coppola financed the film largely out of his own pocket, and spent the next 10 years trying to recover.
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    A Conversation With Francis Ford Coppola - 2011 Toronto International Film Festival

    Francis Ford Coppola, filmmaker

    The acclaimed director of The Godfather, Apocalypse Now and The Conversation fell into financial ruin following the massive flop of glitzy 1982 musical One from the Heart. Coppola financed the film largely out of his own pocket, and spent the next 10 years trying to recover.
    Getty Images
  • <b>Wayne Newton, entertainer</b><br><br>"Mr. Entertainment" has been involved in several financial disputes over the last 20 years, including a 1992 filing for Chapter 11 bankruptcy protection to aid with the management of $20 million in debts. Earlier this year, his $50 million estate was padlocked and put up for sale, under authorization of the U.S. Bankruptcy Court.
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    Wayne Newton Court Appearance - Las Vegas, NV

    Wayne Newton, entertainer

    "Mr. Entertainment" has been involved in several financial disputes over the last 20 years, including a 1992 filing for Chapter 11 bankruptcy protection to aid with the management of $20 million in debts. Earlier this year, his $50 million estate was padlocked and put up for sale, under authorization of the U.S. Bankruptcy Court.
    Getty Images
  • <b>Walt Disney, entertainer / animator</b><br><br>In 2012, the Walt Disney company brought in $42.8 billion in revenue, making it one of the largest media companies in the world. But in 1923, Disney was a struggling animator, living in his office at Laugh-O-Gram Studio, which eventually declared bankruptcy. He then bought a one-way ticket to Hollywood to give the whole entertainment career another try.
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    Walt Disney in 1954

    Walt Disney, entertainer / animator

    In 2012, the Walt Disney company brought in $42.8 billion in revenue, making it one of the largest media companies in the world. But in 1923, Disney was a struggling animator, living in his office at Laugh-O-Gram Studio, which eventually declared bankruptcy. He then bought a one-way ticket to Hollywood to give the whole entertainment career another try.
  • <b>Larry King, radio/television host</b><br><br>As a Miami radio host in the 60s, King was getting by on a small salary and gradually amassing debt. Arrested in 1971 and accused of stealing from business partner Louis Wolfson (the chargers were later dropped), he lost his job and fell further into debt, eventually declaring bankruptcy in 1978. Not long after, he landed the radio job that would eventually turn into his iconic run on CNN.
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    Larry King a prezentat la CNN emisiunea

    Larry King, radio/television host

    As a Miami radio host in the 60s, King was getting by on a small salary and gradually amassing debt. Arrested in 1971 and accused of stealing from business partner Louis Wolfson (the chargers were later dropped), he lost his job and fell further into debt, eventually declaring bankruptcy in 1978. Not long after, he landed the radio job that would eventually turn into his iconic run on CNN.
  • <b>MC Hammer, rapper</b><br><br>With his records relegated to dustbins, it's easy to overlook how successful MC Hammer was in the early 90s. His breakthrough album, <i>Please Hammer, Don't Hurt 'Em</i> became one of the most successful in rap history. He developed a huge entourage and lavish lifestyle, and when his follow-up albums failed to approach the sales of <i>Please Hammer</i>, he eventually filed for bankruptcy in 1996.
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    MC Hammer and Psyhe 40th Anniversary American Music Awards 2012, held at Nokia Theatre L.A. Live - PressroomLos Angeles, California - 18.11.12Mandatory Credit: Adriana M. Barraza/WENN.com

    MC Hammer, rapper

    With his records relegated to dustbins, it's easy to overlook how successful MC Hammer was in the early 90s. His breakthrough album, Please Hammer, Don't Hurt 'Em became one of the most successful in rap history. He developed a huge entourage and lavish lifestyle, and when his follow-up albums failed to approach the sales of Please Hammer, he eventually filed for bankruptcy in 1996.
    Mandatory Credit: Adriana M. Barraza/WENN.com
<b>Anna Nicole Smith, model</b><br><br>The controversial former Playboy Playmate filed for bankruptcy following the death of her second husband, oil tycon J. Howard Marshall, in 1995. Marshall, who Smith married thirteen months before his death, had not included her in his will. Subsequent claims and court proceedings carried on for nearly 16 years, reaching the Supreme Court in 2011, four years after Smith died of a prescription drug overdose.
<b>Burt Reynolds, actor</b><br><br>Once one of Hollywood's most bankable stars, Reynolds finances were hampered by messy romantic relationships and bad investments, leading to a bankruptcy filing in 1996. In 2011, Merrill Lynch foreclosed on his $1.2 million Florida home.
<b>Vince McMahon, CEO, WWE</b><br><br>Iconic professional wrestling promoter Vince McMahon, along with his wife Linda, built WWF / WWE into the entertainment giant it is today, but earlier in their career, some bad bets, including an investment in a failed Evel Knievel stunt attempt, pushed them into bankruptcy.
<b>Francis Ford Coppola, filmmaker</b><br><br>The acclaimed director of The Godfather, Apocalypse Now and The Conversation fell into financial ruin following the massive flop of glitzy 1982 musical One from the Heart. Coppola financed the film largely out of his own pocket, and spent the next 10 years trying to recover.
<b>Wayne Newton, entertainer</b><br><br>"Mr. Entertainment" has been involved in several financial disputes over the last 20 years, including a 1992 filing for Chapter 11 bankruptcy protection to aid with the management of $20 million in debts. Earlier this year, his $50 million estate was padlocked and put up for sale, under authorization of the U.S. Bankruptcy Court.
<b>Walt Disney, entertainer / animator</b><br><br>In 2012, the Walt Disney company brought in $42.8 billion in revenue, making it one of the largest media companies in the world. But in 1923, Disney was a struggling animator, living in his office at Laugh-O-Gram Studio, which eventually declared bankruptcy. He then bought a one-way ticket to Hollywood to give the whole entertainment career another try.
<b>Larry King, radio/television host</b><br><br>As a Miami radio host in the 60s, King was getting by on a small salary and gradually amassing debt. Arrested in 1971 and accused of stealing from business partner Louis Wolfson (the chargers were later dropped), he lost his job and fell further into debt, eventually declaring bankruptcy in 1978. Not long after, he landed the radio job that would eventually turn into his iconic run on CNN.
<b>MC Hammer, rapper</b><br><br>With his records relegated to dustbins, it's easy to overlook how successful MC Hammer was in the early 90s. His breakthrough album, <i>Please Hammer, Don't Hurt 'Em</i> became one of the most successful in rap history. He developed a huge entourage and lavish lifestyle, and when his follow-up albums failed to approach the sales of <i>Please Hammer</i>, he eventually filed for bankruptcy in 1996.