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10 Great Celebrities Who Went Broke
By siliconindia
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Saturday, 29 October 2011, 00:40 IST
Bangalore: The celebrities are famous for their fashion and luxurious lifestyle. The celebrities listed below are extremely famous who made huge money and created a lavish life buying pets, helicopters, villa, town and thoughtlessly spent more than what they earned. They blew off all they possessed and experienced bankruptcy and led a miserable life. The major blunder that all the celebs below did was, ignoring the payment of taxes. Few managed to earn for a decent living and other in fact had to die flat broke.
Willie Nelson:
In the year 1990 Nelson's assets got seized by the Internal Revenue Service. The IRS asserted that he owed $32,000,000 when the Price Waterhouse accountants in U.K discovered that he had been ignorant about paying taxes for many years. Later the American country singer released an album, The IRS Tapes: Who'll buy My Memories? This album helped him big time to pay his debts. All the money he made out of the albums went to the IRS. His properties were gone for public sales and some were bought by his good friends. This helped him to clear his debts by the year 1993.
