The Real Johny Debt : Celebrities with Massive debt problems-Infographic
Every single day we turn on the television and some celebrity somewhere is earning his or her 15 minutes of fame for some act of stupidity – a drunk driving incident, a wardrobe malfunction, or maybe even a not-so-private romantic encounter. What we don't always see is that while our favorite celebs love to live lavish lifestyles, they often have some rather rocky financial issues.
Consider Nicholas Cage. He's an Academy Award winning actor with a net worth of $38 million, yet he somehow owes a whopping $13 million to the IRS. While we'd like to know who his accountant is (so we can steer clear), we'd also like to know why he has not yet considered selling one of his castles to cover his little math error.
Annie Leibovitz, famous celebrity photographer, earns anywhere from $2 to $5 million annually thanks to her lifetime contract with Conde Nast. That said, I can't quite figure out how she managed to stack up more than $24 million in bills to her staff. No number of fantastic photographs can justify that much eccentricity. A lavish lifestyle is fine – if you can do so while living within your means.
Don't forget about Stephen Baldwin! He owes about $800,000 in debt – a small timer compared to some of our other favorites. How he didn't see that he was running out of money due to a lack of work before going into the red that deep is beyond us, especially considering his net worth was only around $4 million to start with.
The average bankruptcy filer in America has a household income of less than $30,000 per year and ends up accumulating debt of almost $47,000 over time. Don't feel bad the next time you're sorting through your bills. These celebrities earn millions and they still can't figure out how to stay in the black.