Famed Celebrity Bankruptcies

Celebrities…they’re just like us. Bankruptcy isn’t something only “common people” deal with. More often than you may think, celebrities and public figures find themselves in financial trouble. These situations are often due to poor money management, miscommunication, or irresponsible spending. With expert Milwaukee legal aid from Burr Law Office, you can work to fix your financial issues. Here are a few names you may recognize and a bit about each of their filings.

M.C. Hammer

You probably know Hammer as the artist that graced us with the dance hit “Can’t Touch This” in the early 90s. His quick rise to fame meant his net worth sky rocketed; Forbes once estimated Hammer to have a net worth of approximately $33 million. Unfortunately, a lavish lifestyle and allegedly large staff brought massive debt, reportedly $13 million, and in 1996 Hammer filed for bankruptcy.

Larry King

Host of Larry King Live on CNN, King found himself in financial difficulty in the mid 70s. A former business partner publicly accused him of grand larceny, brining $352,000 worth of debt. King filed for bankruptcy in 1978 – the same year he was offered the Larry King Live show.

Wayne Newton

The 1983 Guinness Book of World Records holder of the “highest paid entertainer” title, Wayne Newton filed for Chapter 11 bankruptcy protection in 1992. Due to a slew of bad investments, Newtown amassed nearly $20 million dollars of debt.

Long story short, even the rich and famous deal with money problems – though they may be on a different scale. Get expert legal aid from Burr Law Office to help guide you down the path of financial freedom. Call us at 262.827.0375 to schedule your free consultation.