Hollywood may be all glitz and glamour on the surface, with beauty, fame and wealth being the forefront of celebrities’ goals. They enrich the most expensive luxury brand stores with their exorbitant shopping sprees. They give tons of business to plastic surgeons, dermatologists and hair salons to ensure that every inch of their bodies is flawless. But digging beneath this obsession with looking good, it’s plain to see that not all that glitters is gold.
Beauty wilts, wealth depletes, and fame fades. And at the end of the day, their attempts to keep up with the Joneses leave many Hollywood celebrities with nothing save for wrinkles, cellulite, and a mountain of debt. Yes, many of these famous people may be worth millions of dollars now. But this shouldn’t lure them into throwing their money away on stuff that they can easily do without. They must get it into their heads that money doesn’t grow on trees—and that with millions of people around the world living below the poverty line, their spending habits are nothing short of insensitive.
13. Jennifer Lopez
Her net worth is rumored to be over $300 million, but it’s all due to hard work and sound business ventures. Kudos to Jennifer Lopez for being able to build such a vast financial empire. Lopez, though, is said to be the typical diva, making unreasonable demands and expecting everyone to be at her beck and call. Her spending habits further magnify her star complex behavior. When she gave birth to her twins, she reportedly hired a masseuse to be on call 24/7, bought her babies diamond-engraved rattles and one pony each, and shells out $600,000 for a team of bodyguards to watch her kids round the clock.
12. Paris Hilton
Yes, she’s an heiress to a vast fortune and she was certainly born to believe that she had the world at her feet. So it’s no surprise that Paris Hilton blows off her money with nary a care, given she didn’t really have to lift a finger to earn it. Hilton once spent $100,000 in a span of two hours on a shopping binge in Beverly Hills, emerging from stores like Louie Vuitton and Sony Style laden with shopping bags. She’s also known to carry a thick wad of hundred-dollar bills to be spent at her own leisure.
Being a huge success in the entertainment industry for four decades will certainly make you one of the richest ones in it. Madonna is worth approximately $650 million and it’s little surprise that her spending habits are proportional to the amount of money she’s amassed. The ever-evolving pop and cultural icon is a dedicated practitioner of Kabbalah and she spends over $10,000 a month on special Kabbalah water, which she uses not just for herself, but for her children as well. That’s the only kind of water she’ll drink.
10. Shaquille O’Neal
At the peak of his career, Shaquille O’ Neal was earning $20 million a year or $1.6 million a month. With that much money coming out of his ears, it was so easy to become a big spender. The NBA star reportedly spent half the amount he was earning on things like monthly vacations worth $100,000, $23,000 on clothes, and $400,000 on mortgages, among others. Added to that, his divorce left him several million dollars poorer.
9. Victoria Beckham
She truly lives up to her Spice Girls nickname Posh Spice. Though Victoria Beckham made a good amount of money during her days in the all-girl singing group, it was her business acumen and creativity as a designer that brought her net worth up to $300 million. And boy, does she love to flaunt how wealthy she is! Mrs. David Beckham reportedly owns at least thirty Hermes bags, which cost at least $5,000 and her most expensive one features a 3-carat diamond on the lock.
8. Tom Cruise
His acting and producing endeavors have made him worth at least $450 million and he lives a lifestyle proportional to his earnings. Tom Cruise owns several homes, luxury cars, top-of-the-line motorcycles, plus his own private jet, for which he spent $1 million in fuel alone. And he takes the cake as most extravagant gift-giver, when he reportedly gifted his then-wife Katie Holmes with her very own Gulfstream jet worth a whopping $20 million.
7. Brad Pitt and Angelina Jolie
Yes, they are some of the most philanthropic celebrities, fighting for good causes and humanitarian rights. But this doesn’t deviate from the fact that Brad Pitt and Angelina Jolie still live an extravagant lifestyle, though it’s hard to blame them, as they’re collectively worth around $425 million. Jolie reportedly gifted her husband with his very own helicopter worth $1 million. Pitt, on the other hand, bought a painting by a German artist that left him almost $1 million poorer; but not poor by any measure.
6. Nicolas Cage
Nicolas Cage has probably been on every “celebs who almost went bankrupt” list that was ever published and it’s no wonder. The actor is known to be a big spender, owning a dozen houses, two islands, fifty cars, and artifacts that cost thousands of dollars, including a dinosaur skull worth $276,000. He also owns $ 1 million worth of comic books and a $30 million Gulfstream private jet. It’s a miracle that he never actually had to file for bankruptcy, but he came close on a few occasions.
U2’s Bono has been known for his advocacies and causes, but the fact of the matter is, the man is still an artist with his own little quirks. Whether it’s superstition or just plain perversity, he apparently doesn’t like to go anywhere without his favorite hat. So when he accidentally left home without it and only realized it when he landed, he went through extreme measures to make sure the hat was sent to him posthaste. He made arrangements to have his hat put on a plane and spent $1,700 for the hat’s plane ticket.
4. Mariah Carey
Being worth over $500 million, money is no object to Mariah Carey. She spent $1,500 on an 8-hour massage and put her dogs in therapy to prepare them for the arrival of her twins. Additionally, she spent $100,000 on the twins’ nursery and bought a Beverly Hills mansion for a cool $125 million. It was rumored that her lavish spending habits was one of the factors that contributed to the breakdown of her marriage to Nick Cannon.
Pop princess Rihanna makes no secret about how much money she spends on her physical appearance. She may be currently worth $120 million, but there was a time six or so years ago, she had to file for bankruptcy due to her insane shopping sprees and extravagant parties. She has now taken to blowing off her money on looking good and keeping healthy. She allegedly spends $1,500 a day on a personal trainer and $800 a day for a personal chef. To top it off, she spends over $1 million a year for the upkeep of her hair.
2. Mike Tyson
He was once the undisputed boxing heavyweight champion of the world and at the height of his career, Mike Tyson was worth $300 million. He was certainly a lavish spender, purchasing $3 million worth of clothes and jewelry, $4.5 million worth of cars and motorcycles, and buying his erstwhile wife Robin Givens a bathtub worth $2 million. These over-the-top spending habits, plus personal problems and run-ins with the law caused him to lose almost everything. Tyson had to file for bankruptcy and is now only worth $1 million.
1. Toni Braxton
If there’s one celebrity all others must learn from and no one must emulate in terms of spending patterns, it’s R&B singer Toni Braxton. Braxton had to file for bankruptcy twice. The first time, she admitted, was due to an overindulgence in home décor, houseware, and kitchenware. She was able to rise above the financial downturn as she made a successful career comeback. But she fell into debt again and had to file for bankruptcy once more. It didn’t help matters when, despite having declared going broke, she’d talk about how she didn’t mind auctioning off her Hermes Birkin bag because she had two others anyway.