Another woman who was born into money and fame was the daughter of The King of Rock and Roll, Elvis Presley. His daughter, Lisa Marie Presley is music royalty and had the fortune to go with it. Nevertheless, according to her divorce papers from February 2018, she was actually in enormous debt, to the tune of $16.7 million.
According to reports, the debt was caused by a defaulted mortgage and unpaid credit card payments, leaving Presley in an ongoing legal battle with her money manager. Before passing, she stated that he is the only reason for that situation because he negligently mismanaged her vast fortune. She was determined to rectify the situation because she began legal proceedings to sue him for the astounding sum of $100 million before her untimely death.
What is it with stars thinking they can get away with not paying their taxes? Wesley Snipes had a lucrative film career and starred in hit films such as the Blade trilogy, White Men Can’t Jump and Demolition Man, but he was not interested in sharing his income with the IRS.
Snipes knowingly filed false tax returns, was caught, and sentenced to three years of prison time. The actor still owed the tax authorities $17.5 million even after he was released. That means he can’t exactly afford the movie star lifestyle he was accustomed to way back when.
In the 2000s, Tila Tequila was an immensely famous reality star, and her MTV dating show, A Shot at Love with Tila Tequila, was a huge hit. She was making good money while the show was on air but was loath to give up her extravagant lifestyle even when it ended, and landed herself in some financial hot water.
Seems like the singer and model is definitely not living the glamorous lifestyle anymore. In 2016, she even asked her fans to help pay rent for the apartment she was living in with her daughter, including a link to her own GoFundMe page.
Mike “The Situation” Sorrentino
Jersey Shore reality star Mike Sorrentino, nicknamed “The Situation,” was at the top of his game when the show ended. He was an international celebrity, everybody knew his name and he even had his own Comedy Central roast!
Unfortunately, Sorrentino’s dubious financial decisions, which included not paying taxes on his almost $9 million income, caused him to end up in jail. But not to worry, "The Situation" claims that he is working on his comeback for 2019.
Named the fifth highest-paid actor in Hollywood in 2016, Johnny Depp, famous for his portrayal of Jack Sparrow in the Pirates of the Caribbean franchise, sure knows how to spend money. Over the years, he has spent millions of dollars on a failed record label and a 150-foot yacht, among other things.
Depp got into it with his business managers in 2017, blaming them for his financial problems and suing them for making bad financial decisions without his knowledge. They turned around and decided to counter-sue him. These days, some people estimate the actor may be dealing with a debt of roughly $40 million.