Celebrities That Went Bankrupt

Bankruptcy, it Happens to Everyone.

Bankruptcy can happen to anyone at anytime.  Make wise investments and hold your money dear or you could end up like the famous people below.

Michael Jackson

Michael Jackson went bankrupt.  He was unable to pay back a 25 million dollar loan!  What did he need that much money for?  The Neverland Ranch of course.  What idiot bank loaned him 25 million?  Much respect for the late and great Michael Jackson but he had to be included.

Stephen Baldwin

Even the Baldwins go broke every now and again.  Stephen Baldwin filed for bankruptcy in 2009.  He had purchased a property that went under during the housing crisis.  His house was worth 1 million and he owed 2.3 million.  I can’t say that I blame him.  Look at him now though, he’s on Celebrity Apprentice busting his rear to make some money for charity.  You’re an alright guy Stephen Baldwin.

Gary Busey

I promise this isn’t a Celebrity Apprentice cast list!  Our funny guy Gary Busey filed for chapter 7 bankruptcy in 2012.  I wonder if he and Stephen bonded over their bankruptcy?

 

Donald Trump

Alright, alright.  Last one, I promise!  Since we are kinda on the Celebrity Apprentice subject, it is known that Donald Trump has filed for bankruptcy several times.  It wasn’t personal, it was business.

 

Mark Twain

Whoa, they had bankruptcy back then?  Yes, they sure did!  Mark Twain filed for bankruptcy because he put all of his money in a bad investment.  He invested in a typesetting machine.  He was determined to pay back those bankruptcy debts and he traveled the world lecturing to repay them.  What a good guy that Mark Twain!

 

Walt Disney

If a man like Walt Disney can file bankruptcy and still be incredibly successful, I think there’s hope for us all.  He was forced to file for bankruptcy before the creation of Micky Mouse.  After his bankruptcy he borrowed money from family and created Mickey Mouse.  We all know how this story ends!

 

Kim Basinger

Kim Basinger was once so rich that she purchased an entire town in Georgia!  She was later sued for a breach of contract for the movie Boxing Helena.  She was unable to pay and had to sell her town and file for bankruptcy in 1993.

Anna Nicole Smith

The former late Playboy model Anna Nicole Smith filed for bankruptcy after her billionaire husband died.  I wonder if there was a prenup?

 

Sarah Ferguson (Duchess of York)

Even people in royalty are filing for bankruptcy these days.  Sarah Ferguson, Duchess of York filed for bankruptcy after reportedly being 7.9 million dollars in debt.  She is the first senior royal to file for bankruptcy.  Maybe she should listen to Dave Ramsey?

Well, there you have a list of some somewhat surprising celebrity bankruptcies.  The most surprising ones IMO were Donald Trump, Walt Disney and the Duchess of York.  How on earth can the Duchess of York go bankrupt?  I feel like that would be the similar to a member of congress going bankrupt.  Donald Trump going bankrupt is just absurd.  This man has more money than he could spend in 10 lifetimes.

Some of these people really need to listen to Dave Ramsey and get on the Total Money Makeover!  Seriously guys, if you really want to turn your financial life around, listen to Dave Ramsey.  He comes on NPR news everyday.  This man can get anyone out of debt, even these crazy celebrities.

Why Celebrities Think They’re Above the Law – Reese Witherspoon is Arrested

Why Celebrities Think They’re Above the Law

Reese Witherspoon is Arrested

Why was Reese allowed to look down in her mugshot?

 

Reese Witherspoon is arrested, I can’t say that I saw that one coming.  Early last Friday morning, Reese Witherspoon and her husband Jim Toth were both arrested in Atlanta, Georgia.  Jim Toth was reportedly driving in the wrong lane and was pulled over by a trooper that had suspicions of intoxication.  It didn’t take long for the trooper to realize that the driver of the Ford Fusion (Jim Toth) was in need of a sobriety test.  While the officer was administering a sobriety test to Jim Toth, Reese Witherspoon (obviously drunk) started to get disorderly.  She started “mouthing off” to the trooper saying things such as , “You are going to be on National News”, and “I don’t think you’re a real police officer”.  She was hanging out of the window and yelling things at this officer that was only doing his job.  The trooper later arrested Toth because his blood/alcohol level was over the legal limit.  While the officer was arresting Toth, Witherspoon was still mouthing off and being disrespectful.  The officer told Witherspoon to stay inside of the car.  Then, Witherspoon allegedly stated that she was “an American citizen and was allowed to stand on American soil”.   The trooper decided enough was enough and arrested Witherspoon as well.  While the trooper was arresting Witherspoon, she turned into the typical narcissists (that many celebrities are) as she spouted off the following words….

“Do you know my name?”

How would you feel if you were that officer?  Her question was just another way of saying ,”I’m better than you.”  I’m above the law because I’m important, I am a celebrity.”  That one question tells me that Reese Witherspoon believes that she is better than the rest of us.  She was belittling her arresting officer by saying those words.  She believed that she was better than him.  I guarantee it.

“It’s Only Because She Was Drunk.”  Go Ahead and Say It…

I know a lot of you will stick up for Reese and say that she was drunk.  Have you ever been drunk?  I’m sure most of you have at some point and if you haven’t, then you won’t understand this.  When you are inebriated (drunk), you loose your inhibitions.  To be inhibited is to “hold back.”  So, if you loose your inhibitions while intoxicated, you are more likely to say the things that you are really thinking.  This is why I say that Reese really meant what she said.  I know that she apologized, but that was is expected of her.  This is typical narcissistic behavior.  She was just “saving face”.  She couldn’t let the world think that she was a narcissist, could she?

Have You Ever Known a Narcissist?

A true narcissist will simply do anything to save face.  They may act out but in the end they will always try to cover up, or find a reason for their bad behavior.  A narcissist does not want you to see their true self but eventually that true self will be shown.  None of this is meant to state that all celebrities are narcissists.  Many are and so are many non-celebrity people.  A narcissist will invent the persona that they want others to see.  Once you’ve known a narcissist, you will always see that they are fake.  A narcissist is ashamed of who they truly are.  They don’t like the person they are deep down, so they hide it and pretend to be something they are not.  A narcissist can be great fun as long as you worship the ground that they walk on.  Once they sense even the slightest disdain, the monster inside comes out.  You will quickly see that they are not the person you thought they were.

This drunken outburst is obviously not the sweet Reese Witherspoon that everyone “thinks” they know..  Again, she portrays herself as the person she wants to be seen as.  People think they know celebrities, but they don’t.  Many of these celebrities are narcissists and we have never and will never see their “true selves”.

Here is her “apology” to her adoring fans.

“Out of respect for the ongoing legal situation, I cannot comment on everything that is being reported right now. But I do want to say, I clearly had one drink too many and I am deeply embarrassed about the things I said,” the statement says.

It continues: “It was definitely a scary situation and I was frightened for my husband, but that is no excuse. I was disrespectful to the officer who was just doing his job. The words I used that night definitely do not reflect who I am. I have nothing but respect for the police and I’m very sorry for my behavior.”

I believe that in this public apology, she should have apologized directly to the officer.  Most importantly, why didn’t she apologize for her husband driving drunk and being an endangerment to the public.  He was swerving and could have injured or killed someone.  How could she leave that part out of this apology?  Also, notice how she is trying to justify her behavior by saying it was a scary situation and that she was frightened for her husband.  People get arrested everyday.  What she should have been “frightened” of was the fact that her idiot husband was driving drunk.

One should read up on narcissism if this is not recognized as narcissistic behavior.  Many celebrities are narcissists and they believe they are above and better than us “regular people.”  I get so tired of hearing people say, “Oh, so and so [Insert Celebrity Name] is down to earth, he/she is a regular person just like you and I.”  It’s most likely that the narcissistic celebrity is a product of our making.  People worship celebrities and call themselves “regular people” when compared to them.

This is why celebrities think they’re above the law.  Some may have been narcissistic before being a celebrity, but most are a byproduct of their fans worshiping them and having them on a pedestal.