We’re all aware that budgeting can be hard, and, while slogging through your daily grind can be a chore, making sure that you have enough money at the end of each week can be even more burden. For some it may come easily, but lots of us wish that we could spend and splurge like some of our favorite celebrities.
The reality, however, is that some celebs struggle with overspending, and a few have such massive issues that they’ve either squandered their fortunes or relinquished the ability to manage their own finances. In most instances, it’s understandable — when you have that much cash to burn, it’s difficult to believe that it could ever run out. However, when the well of currency does run dry, it can be a very ugly thing through which to bare. Everyone from overly-ambitious actors, unwise investors, and frivolous movie stars have fallen victim to the compulsive need to spend money. While I sincerely hope nobody reading this has managed to spend themselves into the poor house, if you do happen to be in that situation, it can be comforting to know that you’re at least among famous company.
Others may get a sense of schadenfreude from seeing the once rich and powerful reduced to fiscal ruin. While it may be a source of entertainment, it’s also important to remember that celebrities are people too, and they’re subject to their own hardships. With that in mind, we count 15 celebs who can’t control their money.
15 Sarah Jessica Parker Is Just Like Carrie
Sarah Jessica Parker has been around for quite a while, but it feels like her heydays as an actress have come to an end. With the famous Sex and the City TV show coming to a close well over ten years ago now, Parker has managed to keep her name out there, though I don’t think she’s quite the star she was around the turn of the century.
Of course, a period of major fame can also lead to a major ego. Though I can’t really speak with authority on the actresses conduct, I can confirm that she’s certainly not shy about flaunting her wealth — when it comes to shoes, at the very least. Much like Carrie Bradshaw, the character she portrayed in the aforementioned television mega hit, Parker has an insatiable love for footwear.
She’s confessed to buying pricey shoes on a weekly basis, and her frivolous expenditures have ranged between $300 to $1000 a pop.
In particular, she claims to have an obsession for the style of designer Manolo Blahnik. I suppose there are far stranger or less practical things Sarah Jessica Parker could be spending her money on, and, at the very least, her liberal fiscal nature could be considered to be a prolonged method acting technique thanks to her television alter ego.
14 Lady Gaga Goes Big
Though she’s relaxed the facade somewhat in recent years, most people identify worldwide pop phenomenon Lady Gaga as a mysterious, off-the-wall sort of character. In my mind, her 2017 super bowl halftime show performance helped to peel back the layers of both physical and metaphorical makeup she had been wearing for years. No longer clad in dresses made from literal meat, Gaga has become — in my opinion, at least — a much more relatable songstress.
That said, her outlandish behavior still shines through when it comes to her expenditures. She’s famous for making a myriad of strange purchases, most famously the acquisition of 27 koi fish for a cool $60,000.
For those keeping track at home, that’s roughly $2,000 per fish, all in the name of filling one little pond. While I don’t mean to scold the spending habits of the rich and famous, most people would be absolutely overjoyed to even have that much money in the bank, and it’s almost painful to know that the wealthy and well known will literally toss it to the fish.
That’s not the weirdest thing she’s spent her fortunes on, however. Gaga has also admitted to once spending somewhere around $50,000 on ghost detecting equipment. Yes, that’s right—she spent fifty large to become her own ghost-buster.
13 Victoria Beckham Is Obsessed With Clothes
Business woman, fashion icon, and popstar extraordinaire Victoria Beckham is perhaps well known for her peculiar flair. Though she rose to prominence in the 1990s with th success of the Spice Girls quartet, Posh Spice has managed to stay relevant since her exit from the group.
She still manages to live up to her Spice Girl monicker, though, as she’s admitted to spending upwards of $150,000 on average per year on clothing for herself.
Now, a girl has to look the part, and you can’t exactly live up to a name like Posh Spice without dropping some serious dough on your outfit. That said, I don’t think I’m exaggerating when I say that spending more than the average American household income on clothing alone each year is a bit overzealous. Plus, this doesn’t even account for what she’s spent on her husband and kids, who are all known to wear designer outfits. She’s a fashion industry icon, to be sure, and I suppose expenses like these are to be expected, but racking up six figures on tailored fabrics might even cause someone like Oprah to do a double take. Well, maybe not Oprah —s he’s been known to spend far more on her show’s audience members.
12 Soulja Boy Was Big At One Point
Cast your mind back to September of 2007. Friends was coming to an end, Halo 3 had just been released, and Soulja Boy’s Crank That was the breakout hip-hop single that was sweeping the nation. The bombastic, drawn out steel drum-laden beat and barely decipherable lyrics were a staple of high school dances across the country and paved the way for a new age of trap artists. Before Lil Jon was for what reason he should turn down, Soulja Boy was crankin’ it to the adoration of pre-teens and behest of adults everywhere. We haven’t heard from him for the better part of ten years at this point, but, during the height of his fame, he was known to be a big spender.
So much so that he actually dropped $35 million dollars on a gulfstream jet for himself, which he later spent $20 million upgrading.
I know I risk sounding like your out-of-the-loop grandmother when I say this, but Soulja Boy’s 2007 debut really does make me think that making millions of dollars has never been easier. No disrespect to the guy, but the song doesn’t exactly exude musicianship. In a way, he feels a lot like a precursor to today’s notoriously awful trap acts like Lil Xan, or, well, anyone who dons the same prefix.
11 Kim Kardashian Is Materialistic
Well, obviously Kim K was going to make an appearance on this list. The most famous of the now extraordinary trendy Kardashian clan, she wouldn’t really be in the headlines every two seconds were she not as liberal with her bank account as she is. Plus, she’s married to Grammy-winning, multi-platinum recording artist Kanye West, so I’m sure they aren’t worried about encountering financial hardship anytime soon. In fact, I would wager that she recoups her losses on each expenditure via the press attention alone. That’s probably somewhat of an exaggeration, but only slightly. Despite Kanye’s famous claim of being million-dollar debtor, Kim has spent hundreds of thousands of dollars on absolutely frivolous items;
she’s spent upwards of $100,000 in one Hermes shopping trip, bought a $10,000 ring on a complete whim, and dropped six figures renting out Los Angeles’ Staples Center so her husband could play a game of basketball with some of his friends.
I guess the community court down the street just wouldn’t cut it. Again, Kim K is a cultural icon the likes of which are only seen a couple of times a decade, and I don’t mean to totally lambast her lifestyle. Plenty of celebs spend wildly, and accusing her of overdoing it feels like accusing the late comedian Joan Rivers of undergoing too many plastic surgery procedures.
10 Lindsay Lohan Loved Online Shopping
Lindsay Lohan’s fall from grace has been well documented, and it seems safe to say that the adorable, talented little redhead that captured everyone’s hearts in 1998’s hit comedy The Parent Trap is pretty much all but gone. In her place we have something of a dyed-blonde nightmare infamous for a series of run-ins with the law over the span of about half a decade. She’s since reformed, thankfully, and she’s spent a good amount of time in rehab overcoming her vices, which is always an encouraging thing to hear. Residents and faculty members of the rehab clinic Li-Lo attended, however, raised the alarm about her extraordinary spending habits.
At one point, the Freaky Friday and Mean Girls actress is said to have spent upwards of $5,000 a day shopping online. Her habits became so much of a problem that the clinic actually ran out of places to store her shopping items.
Though financially shaky at the time, Lohan attributed her online spending sprees to a rich partner in New York, though she never divulged the name. She’s admitted to making more than a few dumb mistakes in her life, though I’m not sure if she’s lumped these actions in with the rest of her follies.
9 Nicolas Cage Buys The Weirdest Things
Famous for his out-there performances and relatively strange persona, Nicolas Cage doesn’t really seem like the kind of person you might go to if you’re looking for sound financial advice. Though he’s been in a good amount of pictures, some of his works are so infamously bad that, on the whole, he’s become synonymous with quirky, often terrible films. That’s not to say he hasn’t been in his fair share of great movies — the National Treasure series is a summer blockbuster extraordinaire, as his rivalry between fellow actor John Travolta in 1997’s Face Off is a compelling watch. He’ll forever be associated with his Con Air mullet and run-in with a basket full of bees in 2006’s Wicker Man remake, but he’s a cherished thespian all the same. With something around $150 million to his name in his heyday, Cage likely didn’t have to worry about money or work.
Today, however, he’s famous for squandering his fortune on bizarre oddities. He’s purchased a private island, an allegedly haunted mansion, and even a dinosaur skull, which alone cost him upwards of $250 million.
There’s no word of whether he resorted to stealing the Declaration of Independence to recoup his losses, but, should it go missing, I know who I would question first.
8 Drake Went From The Kids' Club To The Real Club
In a scene dominated by gruff, harsh voices and personalities, rapper Drake seems like a pretty mellow kind of guy. He got his start as an actor with a recurring gig on Nickelodeon’s teen-oriented live action drama series Degrassi. Those days are long, long behind him, though, and you’d be hard pressed to come across anyone that knows he was an actor before he was a musician.
He didn’t exactly start from the bottom, but he has definitely undergone a drastic change following his day of PG-13 televised drama.
He may be a relatively mild-mannered type (on the surface, at least), but he’s also got a nasty penchant for shelling out a little more than anticipated when he goes out. The young rapper made headlines when, in 2013, he allegedly dropped somewhere around $50,000 at an unspecified gentlemen's club in North Carolina. This seems like typical behavior for most of his ilk, and I doubt I would think twice if someone like Rick Ross or Kanye West did a stunt like this. It could well be that I just don’t know enough about Drake, but, given that most of what I know about him comes from Nick’s show, I suppose I’m not really an authority on the guy.
7 Heidi Montag Is Ready
I’m not saying that the stars of MTV’s celeb-centric series The Hills aren’t intelligent, but it seems that, whenever I hear about them in the news, it’s because they’ve done something a bit half-witted. An oft-disliked and ridiculed 2006 to 2010 reality TV vehicle, it was a veritable who's-who of waning-in-popularity, famous-for-being-famous types. Had the Kardashian clan only been a feature, The Hills would have been gossipy celeb mecca. To each their own, though, and, if you held any particular affinity toward the show, I wouldn’t hold it against you; I would at least place The Hills a notch or two above the televised atrocities featured on Jersey Shore.
Though the show had been over for about two years at the time, Heidi Montag managed to make waves in the closing days of 2012 when she and her husband Spencer Pratt managed to blow $10 million on the "upcoming" apocalypse. Should the world have ended, I suppose they would have been adequately prepared. However, as anyone who's ever played Fallout will tell you, all you really need is a hefty stack of bottle caps. Well, that, and maybe a sturdy suit of power armor. Heidi Montag in Fallout power armor — that’s kind of a scary thought.
6 Mike Tyson Loves His Tigers And Gold
I am not going to be the one to tell Mike Tyson how to spend his money, as that sounds like a really good way to get a really cheap ear piercing. However, I do feel like I can criticize his spending habits over the internet without fear of repercussion. The ex-boxer may have a vicious reputation, but I don’t think he has the time to track down everyone who has poked fun at some of his more lavish, ridiculous spending sprees.
One of the more ludicrous things Iron Mike dropped some coins on was a golden bathtub, which was a Christmas gift to his wife.
Given that my own bath is constructed of now-yellowing acrylic polymers, I can only imagine what it would be like to bathe in a tub made out of gold. Hygiene is important, but I don’t think I would drop $2 million on it.
Tyson is also famous for having an exotic taste in animals. He once purchased three rare white Bengal tigers for a cool $210,000. That’s not all, however, as these lavish pets cost an additional near-quarter million a year in food, and another $125,000 annually on animal handlers. You could just be like the rest of us and get a dog or cat, but, judging by that wicked face tattoo, I’m guessing that isn’t really your style.
5 Ke$ha Loves To Party
Remember when Kesha was big? Much like the aforementioned rapper Soulja Boy, she’s really fallen from the face of the earth in recent years, and we’ve literally heard from Brittany Spears more recently than we’ve heard from this one-hit-wonder pop star. I don’t actually know if most people would qualify Kesha as a one-hitter, but I certainly can’t name a song of hers that isn’t tick-tock. Again, much like Soulja Boy, I’m gonna go out on a limb and say that her one hit song wasn’t really even that good to begin with, and I don’t think that’s an opinion which will be met with too much opposition.
Despite her crazy on-stage antics, she’s actually one of the less ridiculous celebs on this list; she hasn’t quite bought herself a private jet or spent $50,000 on a wild one-night bender. (Well, maybe she has, I don’t know her that well). She’s actually most infamously known for spending thousands of dollars a month on, of all things, glitter. It was a major part of her stage show, and she’s confessed to wanting to cover the whole world in the stuff. I guess you need to have a lot of the stuff to accomplish those kinds of lofty goals.
4 Kanye West Spends Money On Everyone
I’ve made mention of Kanye’s debt already, but it isn’t a good sign when one of your most prominent moments of the past few years was announcing to the world that you’re not nearly as well-off as you seemed to be. He’s won music awards, had multiple records go platinum, and interrupted Taylor Swift’s music video award, but even that couldn’t save him from the poorhouse, apparently.
It seems that most of his spending stems from his wife on whom he’s imparted countless fancy, expensive gifts. I suppose he wants Kim to look good, given that he once threw out everything in her wardrobe of which he didn’t personally approve. You’d think it would take quite a while to blow through the kind of cash he must have had, but, when you’re married to a Kardashian, I suppose it isn’t as difficult as it would seem.
In fact, Kim’s wedding ring is said to cost somewhere around $3 million, which is indicative of the kind of money he spends on his better half. He’s also known to have purchased a golden skull for $34,000 as a gift to fellow rapper and close confidant Jay-Z.
I don’t intend to judge Kanye too harshly—he’s entitled to spend his earnings however he sees fit, but I guess he should have seen his millions of debt coming well before the debt collectors showed up at his door.
3 Sean Combs Is A Baller
Sean Combs, better known by his onstage monicker of P. Diddy, is something of a media mogul these days. Once mainly a rapper, he’s expanded to become a record producer, something of a mentor to young rappers, and even a fashion designer. Now, that’s quite the resume, and it only follows that all of that work has left him rather wealthy. That’s true, but Combs has also gotten really, really good at spending it.
Diddy is known to have spent up to $900,000 per week on fancy yacht rentals (well, what kind of yachts aren’t fancy, come to think of it). I haven’t been able to keep up with the price of yachts recently, or ever, so I’m not exactly sure how much they cost, but you’d think that if you’re shelling out nearly $1 million a week on rentals, you might as well just go ahead and buy one and save yourself some trouble.
He’s also pretty charritable with his money: I don’t know if he’s contributed to any charities recently, but he sure does love to spend money on his family and friends. He once purchased a $400,000 sports car for his son as a reward for doing well in school. I don’t know about you, but, when I was 16, I bought a used Volvo for $4,000, and I was thrilled.
2 Allen Iverson Spent More Than What He Made
Iverson will always primarily be remembered for his skills as a basketball player, and, in my mind, he’s only one or two notches below greats like Michael Jordan or Lebron James. Nicknamed “The Answer,” he may have been as much on the court, but these days he likely wishes he could find an answer for his financial qualms. He’s famous for talking a big game and living large, but his lifestyle and attitude quickly caught up with him, and it wasn’t long before his NBA earnings dwindled to nothing. Iverson has stated that, though he was making $20 million per season at one point, he was spending it nearly as quickly as he made it.
He’s said that he would bring in about $60,000 a month, yet he’d have to shell out somewhere around $360,000 monthly to keep up with his debts.
That’s not a great way to plan for your retirement, Allen, but I’m sure you’ve learned that lesson by now. Going broke following a career in sports is actually more common than you would think, and tons of athletes across multiple platforms have lamented their inability to conserve money. I sort of feel bad for Iverson, though he’s of a large enough caliber that he could probably land some kind of sponsorship deal and have his fiscal woes quickly amended.
1 M.C. Hammer Blew All His Money
If you were looking for a perfect example of what not to do after striking it rich, look no further than M.C. Hammer. When 1990’s mega hit "U Can’t Touch This" came out, he was an instant success, and he quickly celebrated his fortune by spending tons of cash on lavish mansions, 17 car garages, and backyard baseball diamonds. It also stands to reason that, if you buy a mansion with a 17 car garage, you probably have enough dough to fill it with pricey vehicles.
These expenditures have been estimated to cost up to $30 million, and the rapper only made around $33 million the year the record came out.
Now, I wasn’t sure about Kesha’s discography but I’m fairly certain that M.C. Hammer never released a comeback album, so it’s safe to say he budgeted pretty poorly for the future. He was so famously broke in the aftermath of all this spending that other rappers actually began to mock him. Jay-Z poked fun at the unfortunate financial situation of his counterpart in his song So appalled, referencing the fact that, unlike Hammer, he could spend more than $30 million. I just hope those golden pants weren’t made of real gold, because that’s probably another $2 million right there.