50 Cent has filed for bankruptcy in the US, just days after being told by a court to cough up $5m in damages for posting someone else’s sex tape online. The rapper isn’t alone. Many entertainment and sports starts – including some Indian personalities – have made headlines for raking up millions in dues. Here are some of them.
The actor has a lot going for him at the moment, but back in 2000, that wasn’t the case. His production company ABCL was over Rs 90 crore in debt, and his famous Juhu bungalow, Pratiksha, had been mortgaged. The TV quiz show Kaun Banega Crorepati was offered to Bachchan around that time, and its success led to a complete reversal of fortunes.
The senior actor passed away at the age of 97 in 2012. Just a couple of years before that, it was widely reported that he had beenleading a life of penury. Apparently, he was struggling to pay even his medical bills. Following the revelation by the media, actors like Jaya Bachchan and Salman Khan, along with the Cine and TV Artistes Association, apparently stepped in with financial help.
He might be a multi-billionaire who is running for U.S President in the 2016 elections , but Donald Trump has filed for corporate bankruptcy four times – in 1991, 1992, 2004 and 2009. It’s interesting to note that none of these are cases of personal bankruptcy.
The celebrated TV show host had amassed $352,000 in debt after being accused of larceny by a former business partner. This led to him filing for bankruptcy in 1978. Fortunately, he was offered his eponymous show in the same year.
Despite earing $400m over his career, the boxer filed for bankruptcy in 2003, stating that he had debts of $23m. This included a $ 9 million divorce settlement, $13.4 m to the IRS (Internal Revenue System) and $4 million to HMRC.