Celebrities who Lost It All #7 Michael Jackson
You might be surprised to find out that the “King of Pop” is in this list, but yet here he is. In his last years, his music was almost left aside to only report things about Michael’s bankruptcy and the child molestation rumors. The problems began in the mid-’90s when he was first accused of molestation by one child.
From that point, his career started to slow down from what it had been the ’80s and he began borrowing money here and there. Also, he was overspending every year by about $30 million, and when he passed away he had debts of 500 million dollars. The Internal Revenue Service also believes his estate was undervalued and that he still had to pay $700 million in taxes. But on the bright side, even after his death, Michael’s music is still bringing in profits.