1. Toni Braxton
Famous for her hit single ‘Un-break my heart’ and other chart toppers in the 90’s, Toni Braxton has reportedly filed for bankruptcy twice. In 1998, she claims to have filed for bankruptcy after she was paid very low royalties by her record label. Secondly, in 2010, she filed for bankruptcy because she was forced to cancel her Las Vegas show due to illness.
2. 50 Cent
50 Cent recently filed for bankruptcy after a court case where he was ordered to pay five million dollars. He was accused of posting the woman’s sex tape online without her consent and the court ruled in the woman’s favor. After he filed for bankruptcy, he listed his liabilities and assets in the range of ten to fifty million dollars.
3. MC Hammer
One of the most popular cases, MC Hammer filed for bankruptcy in 1996. At this time, he was reported to have skipped out on paying taxes for many years. When he filed for bankruptcy, he had blown through his fortune and had a debt of more than thirteen million dollars. After defaulting on his FHA Loan, he was forced to sell his house and other assets for a fraction of the buying price to try recover the debt. Learn more about his turbulent career here.
4. Cyndi Lauper
Famous for her song ‘ Time after Time, Cyndi Lauper is reported to have filed for bankruptcy in the 1980’s. At this time, she was a member of a group that had flopped forcing her to file for bankruptcy. However, her best years were still ahead of her, this resident of Long Island, because her famous single was a chart topper, ultimately helping her recover the money.
5. Marvin Gaye
Perhaps one of the most controversial singers, Marvin Gaye filed for bankruptcy in 1978. At around this time, he had gone through a very expensive divorce from Anna Gordy, his first wife, forcing him to this action.