Financial problems have led to a lot of heartache to millions of people over the years. Whether a celebrity worth millions or not, it’s tough for people to accept that they have limited funds in their bank accounts, allowing it to consume their minds and overtake them. Some, however, bounce back, showing that a little bit of luck and hard work can lead to making money rather than losing it, as these celebs proved after losing all their money and gaining it back.
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15. Betsey Johnson
A fashion icon, Betsey Johnson once declared bankruptcy due to $4.1 million in outstanding debts owed to a variety of manufacturers, banks and accountants. But, since landing on her feet, the 70-something Johnson has come back strong, continuing to show at Fashion Weeks all over the world and landing a reality TV show.
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14. Gary Busey
After 70-plus movie credits, actor Gary Busey might not be the star he once was, but he has helped himself by bouncing back with a few reality TV spots that have earned him some money. With debts of over $1 million in 2012, Busey has since appeared in marketing campaigns and, most-notably, a number of The Celebrity Apprentice seasons, helping him get back on his feet.
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13. Lorraine Bracco
Mostly known for her role as Dr. Jennifer Melfi from “The Sopranos” years ago, actress Lorraine Bracco might have had a tough time following a bitter custody battle/divorce with actor Harvey Keitel in 1999, but her role helped her earn a lot of the money lost, back. Ironically enough, Bracco’s breakout role came the same year that the messy situation with Keitel happened, making her go from sad to happy quite quickly.
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12. Mike Tyson
Once worth more than $300 million, former heavyweight boxer Mike Tyson famously blew it all by 2003, blaming financial advisors who took advantage of him. And while Tyson hasn’t made back nearly that much, he has rebounded nicely thanks to a budding career that has included numerous movie roles and a comedy tour.
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11. Michael Vick
Following a dog-fighting scandal that nearly cost him his NFL career and freedom, NFL quarterback Michael Vick was forced to bankruptcy due to high attorney fees in 2008. After his release from prison, though, Vick inked a deal with the Philadelphia Eagles and parlayed that into a deal worth over $100 million in 2011. Though restructured and no longer making such a salary, Vick has still earned millions back in a fortune twist of fate.
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10. Natalie Cole
Natalie Cole has earned her share of awards and acclaim, but she fell on hard times in 1997 after dealing with some personal problems that included a stone in rehab. Writing about her experiences by releasing a book that turned into a Lifetime movie, Cole may have gone bankrupt in 1997, but she seems to have her financial and personal problems back on track now.
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9. Sheryl Swoopes
Sheryl Swoopes is one of the best women’s basketball players to ever suit up, but she shot an airball on a number of investments that cost her nearly her entire $50 million net worth that she made during her hoops career. Forced to sell numerous awards and medals to pay back creditors, Swoopes didn’t let it get her down, as she started her own basketball camp and became a broadcaster for her college alma mater to at least earn a steady paycheck.
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8. Nicolas Cage
Regardless of your personal opinion of Nicolas Cage, the guy is hands-down an A-lister who has starred in a bevy of notable roles. After skipping out on his taxes in 2009, though—in which he owed $6 million—Cage was forced to put several of his properties on the market, narrowly avoiding bankruptcy. As you would imagine, he has bounced back in a strong way, regularly getting roles that have put him in position to make a lot of money since the hiccup.
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7. Tionne “T-Boz” Watkins
Filing for bankruptcy a few times in her life, TLC’s Tionne “T-Boz” Watkins has, luckily, found her way back after years of hustling. Although she never lived too extravagantly, she had a number of medical bills and child support that put her in a financial hole. Thankfully, she released a new album and scored her own reality TV show, helping her get back a lot of what she was forced to owe.
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6. Willie Nelson
With the IRS seizing his bank accounts and a number of houses he owned following him owing more than $16.7 million in back taxes, legendary songwriter Willie Nelson was forced to losing almost everything. In a bit of humor, Nelson recorded and released an album titled, “The IRS Tapes: Who’ll Buy My Memories” the following year to get back at them. In the 25 years since this all happened, though, Nelson has earned nearly $25 million.
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5. Toni Braxton
Twice filing for bankruptcy due to a number of unfortunate situations, singer Toni Braxton was once left with $50 million in debt. Thanks to a reality TV series and continued success/royalties from her music career, Braxton has caught on as an actress and seems to have found her niche, picking up regular roles that have compensated her nicely.
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4. Cyndi Lauper
All the way back in 1981, singer Cyndi Lauper was forced to bankruptcy after a record with her then group Blue Angel flopped. Three years later, though, Cyndi placed herself as an ’80s legend, gaining international stardom by selling over 50 million records worldwide and appearing on a number of TV shows and numerous musical acts ever since, giving her a current net worth of about $30 million.
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3. Kim Basinger
After losing an $8 million lawsuit to Main Line Pictures for backing out on a movie, the former model was forced to bankruptcy back in 1993, selling a house she had bought for over $20 million. Just a minor hiccup for the longtime actress, though, Kim has scooped multiple movie roles since, helping her get back a lot of money and being more than well-off these days.
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2. Billy Joel
One of the mistakes that many celebs make with their money is trusting family members or friends to handle that portion of their wealth. Musician Billy Joel found out the hard way he shouldn’t have, as his brother-in-law, Frank Weber, mismanaged his funds and cost Joel about $90 million, forcing him to bankruptcy. The singer has bounced back, though, headlining a number of festivals with other iconic acts to gain some wealth back.
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1. Donald Trump
Arguably the biggest name to have gone from wealthy to nothing and back to uber-rich, Donald Trump has actualy filed for bankruptcy four times, working within the laws of the U.S. to negotiate payments from debt. Seeing as how Trump is worth an astounding $2.7 billion today, The Donald has definitely done a solid job working those deals, proving he’s a master businessman.
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