17 Artists Gone Bust
From bank to broke, these musicians rose to the top and then lost it all... click through to find out how much!!!
Bank To Broke Artists!
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Michael Lee Aday Meat Loaf declared bankruptcy in 1983 with $1.6 million in debts
Before she realised that 'Girls Just Want to Have Fun,' Cyndi Lauper was strapped for cash. The singer had to file for bankruptcy in 1981 and work in retail because her record contract with Blue Angel music failed
MC Hammer became a household name in 1990 with the song “U Can’t Touch This,” and spent up big, until he was $13.7 million in debt with only $9.6 million in assets, prompting him to file for bankruptcy in 1996. That's a whole lot of 'Hammer Pants'
In 2002, Elton John filed for bankruptcy despite being one of the most famous singers of all time. Apparently the reason for John's astounding debt of $2 million per year comes down to his admitted passion for spending
Billy Joel fired Frank Weber, his long time manager and ex brother-in-law, who defrauded him out of $30 million. Now, Joel’s drummer of 30 years, Liberty DeVitto, alleges he helped Joel create his biggest albums and claims that Joel owes him overdue royalties
Despite selling 25 million albums worldwide, “Un-break My Heart” singer Toni Braxton filed for bankruptcy in 1998 after racking up a $20,000 American Express bill and monthly expenses of over $43,000
David Crosby filed for bankruptcy in 1985 when his solo career failed. He was forced to sell boat Mayan for which he was asking $1 million
George Clinton, lead singer of Parliament, declared bankruptcy in 1985
In 2008 Chaka Khan and her son, Damien Holland, were ordered by a California judge to pay more than $1.3 million to the family of a 17-year-old boy killed by Khan’s son Damien. The lawsuit accuses them of wrongful death and negligence
Dee Snider, metal front man of the band Twisted Sister. Lawsuits over tour advances and endorsements led Snider to bankruptcy
Jerry Lee Lewis was inducted into the Rock and Roll Hall of Fame in 1986 and filed for bankruptcy in 1988 with $3 million of debt and no assets. Lewis is a rock and roll and country music singer, songwriter and pianist
Isaac Hayes was a singer-songwriter, actor, and musician who filed for bankruptcy in 1976 after his record label went broke with debts over $6 million. Hayes lost his home, personal property, and future royalties from his music
Tom Petty filed for bankruptcy in May of 1979 with debts of $500,000
Marvin Gaye filed for bankruptcy in 1976 after the royalties from his next album were promised to his ex-wife as an alimony substitute. The album was titled Here, My Dear.”
Mick Fleetwood member of the band Fleetwood Mac, filed for bankruptcy in 1984. Rumor was he was addicted to cocaine. Fleetwood claims financial woes due to purchasing real estate
We had to put this one in - Wolfgang Amadeus Mozart died poor at the early age of only 35. He left a vast amount of debt behind which totaled over 4,000 florins (the equivalent of more than 8 times the annual salary of a middle-class government employee)
Willie Nelson owed $2 million on taxes and his lawyers and accountants recommended borrowing $12 million to invest in cattle for the tax write-off which the IRS ended up not allowing. This led Nelson to owe $32 million in back taxes