Troubled rock star Courtney Love recently admitted to losing an estimated $27 million left to her by her late husband and Nirvana front man, Kurt Cobain.
“I know that’s a lifetime of money to most people,” Love told Britain’s Daily Mail. “But I’m a big girl, it’s rock ‘n’ roll, it’s Nirvana money, I had to let it go,” she said.
The 50-year-old singer, songwriter and actress seemed pretty cavalier when she described the financial loss and says she can still maintain a comfortable lifestyle.
“I make enough to live on. I’m financially solvent. I focus on what I make now,” said Love.
The Hole singer attributed most of her devastating money troubles with her hard-rock living and a number of settled lawsuits.
Love is among many stars, including Janice Dickinson, Kim Basinger and Stephen Baldwin that have made millions of dollars and then almost lost it all.
See which stars have fallen from financial grace.
Courtney Love recently confessed to losing $27 million of so-called “Nirvana money” through her “rock ‘n’ roll” lifestyle.
Pamela Anderson reportedly had to put her real estate assets on the market to help pay over $1 million in back taxes to the American government, reports Radar Online.
Kim Basinger filed for bankruptcy after she was sued by Main Line film company after reneging on her role in 1993’s Boxing Helena. The suit was reportedly settled for close to $4 million.
Donald Trump has reportedly filed for corporate bankruptcy four separate times, in 1991, 1992, 2004 and 2009 however, the tangerine-tinted mogul has never filed for personal bankruptcy.
Hollywood legend Burt Reynolds filed for bankruptcy in 1996 after a failed restaurant venture and a pricey divorce from ex-wife Loni Anderson.
In 2013 CNN reported that the other Baldwin brother, Stephen Baldwin, only just escaped jail time by pleading guilty to three years of failing to file tax returns and paying $300,000.
According to People magazine, Meet the Fockers star Teri Polo filed for bankruptcy in April 2014, largely due to credit card and IRS debt.
According to the Huffington Post the IRS froze Lindsay Lohan’s bank accounts because she owed them nearly a quarter of a million dollars. Charlie Sheen reportedly helped the young star pay the debt, but she still owed about $3 million in debt to numerous creditors.
Self-proclaimed “supermodel” Janice Dickinson, 59, allegedly filed for bankruptcy in April 2013 after she racked up nearly $1 million in debt.
Crooner Marvin Gaye allegedly filed for bankruptcy in 1979 and spent time living in a bread van.
Hunk actor Gary Dourdan filed for bankruptcy in 2011, reports Business Insider. The CSI star was said to have owed $1.73 million to creditors, while reporting $1.8 million in assets.
The New York Post reports TV host Larry King filed for bankruptcy in 1978 but fortunately got an offer for his first talk show the same year.
In perhaps one of the most famous falls from grace rapper MC Hammer, reportedly made $33 million in 1991 but quickly spent the entire fortune on a lavish lifestyle that included extravagant property, fancy cars, planes and a huge entourage. Rolling Stone reported that by 1996 the parachute-pant wearing star was $14 million in debt and had to file for bankruptcy.
Singer Meat Loaf filed for bankruptcy in 1983 but has since enjoyed enough musical success to keep himself well out of the poor house.
Business Insider reports that Nicolas Cage owed $14 million in back taxes dating back to 2007 which caused him to sell off real estate, rare relics, yachts and a funeral pyramid (yes, really).
Former Baywatch star, Donna D’Errico, filed for bankruptcy in February this year. The actress reportedly claimed her main source was alimony from ex-husband, Nikki Sixx.
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