The Surprising Celebrity Bankruptcies

Pamela Anderson

It’s been in the news that the former ‘Bay Watch’ beauty Pamela Anderson is in financial dire straights. In 2009 there were rumors that she filed for bankruptcy because she’d moved into a beachside trailer in Malibu with her sons, while giving up her LA mansion. Instead of bankruptcy though, she was smartly selling her mansion to cut down on its re-construction expenses and pay off big debts, which included the IRS. Since then she’s been busy working Las Vegas stage performances and has put out her own perfume, “Malibu Night.”

Nicolas Cage

One of the highest paid actors, Nicolas Cage has been on the IRS debt radar since 2009. It seems he owed $13 million and blew through $100 million of his fortune! Cage earns an estimated $40 million a year, how could he possibly be in financial trouble? Bankruptcy documents show that he owned a lot of luxury items: various real estate and mansions, exotic cars, yachts and even a private jet, etc. He’s an amazing big budget actor and remains so. He’s been steadily selling off assets, like his prized “Action Comics #1 that sold for a record $2.16 million”. That debt will no doubt be paid off in no time!