Chapter 11: Celebs Who Went Broke

Rihanna, Ginuwine and more who have filed for bankruptcy.

Chapter 11 - Black Friday and Christmas shopping always seems to highlight our money problems, but us regular folks can feel a little better knowing that celebrities can live outside of their means, too. From Rihanna to MC Hammer, we've got a list of stars who went broke from bad investments, shady business partners or just plain old overspending. Here's a look at celebs who've gone bankrupt.  (Photos from left: Paras Griffin/WireImage, Paul Morigi/WireImage)

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Chapter 11 - Black Friday and Christmas shopping always seems to highlight our money problems, but us regular folks can feel a little better knowing that celebrities can live outside of their means, too. From Rihanna to MC Hammer, we've got a list of stars who went broke from bad investments, shady business partners or just plain old overspending. Here's a look at celebs who've gone bankrupt.  (Photos from left: Paras Griffin/WireImage, Paul Morigi/WireImage)

Photo By Photos from left: Paras Griffin/WireImage

Rihanna - She may be all about strip clubs and dolla bills today, but back in 2009 Rihanna went "effectively bankrupt" due to mismanagement of her fortune by her accountant. According to court docs, RiRi's chief bean counter blew through $9 million of her $11 million fortune in just one year. The singer sued the money manager and was awarded $10 million by the court, more than making her whole. Turns out, the $9 million is just chump change compared to the tens of millions she has earned since. Rihanna is reportedly worth close to $85 million today! (Photo: UPI/Kevin Dietsch /LANDOV)

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Rihanna - She may be all about strip clubs and dolla bills today, but back in 2009 Rihanna went "effectively bankrupt" due to mismanagement of her fortune by her accountant. According to court docs, RiRi's chief bean counter blew through $9 million of her $11 million fortune in just one year. The singer sued the money manager and was awarded $10 million by the court, more than making her whole. Turns out, the $9 million is just chump change compared to the tens of millions she has earned since. Rihanna is reportedly worth close to $85 million today! (Photo: UPI/Kevin Dietsch /LANDOV)

Lady Gaga - Turns out 2009 was a bad fiscal year for Gaga as well. The "Bad Romance" singer's career was booming, but her wallet was empty. Earlier this year, Gaga admitted she spent her entire $3 million fortune on her Monster Ball tour in hopes of making enough of a splash to secure a lucrative contract from Live Nation, making her bankrupt at the same time she was the top-selling artist in the country. Her gamble worked: after the tour, the concert giant offered the pop singer a $40 million contract. (Photo: IPA/WENN.com)

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Lady Gaga - Turns out 2009 was a bad fiscal year for Gaga as well. The "Bad Romance" singer's career was booming, but her wallet was empty. Earlier this year, Gaga admitted she spent her entire $3 million fortune on her Monster Ball tour in hopes of making enough of a splash to secure a lucrative contract from Live Nation, making her bankrupt at the same time she was the top-selling artist in the country. Her gamble worked: after the tour, the concert giant offered the pop singer a $40 million contract. (Photo: IPA/WENN.com)

Ginuwine - Ginuwine could have retired off of the royalties from his 1996 single "Pony," but turns out the R&B artist has to pony up millions to debtors and the IRS. A lawsuit currently underway in New York between the singer and his former producer Robert Reives reveals that Ginuwine lost much of his fortune during his divorce from rapper Solé and owes "a bunch of people money." The singer is "close to filing for bankruptcy" according to his lawyers.(photo: John Ricard / BET)

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Ginuwine - Ginuwine could have retired off of the royalties from his 1996 single "Pony," but turns out the R&B artist has to pony up millions to debtors and the IRS. A lawsuit currently underway in New York between the singer and his former producer Robert Reives reveals that Ginuwine lost much of his fortune during his divorce from rapper Solé and owes "a bunch of people money." The singer is "close to filing for bankruptcy" according to his lawyers.(photo: John Ricard / BET)

Allen Iverson - The 11-time NBA all-star earned $154 million during his basketball career, but squandered it all, and then some, on a huge entourage and bling addiction. By 2012, Iverson had lost everything including his career and marriage. Sadly, it doesn't seem like this NBA legend will bounce back anytime soon. (Photo: Rob Kim/Getty Images for the 2014 Tribeca Film Festival)

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Allen Iverson - The 11-time NBA all-star earned $154 million during his basketball career, but squandered it all, and then some, on a huge entourage and bling addiction. By 2012, Iverson had lost everything including his career and marriage. Sadly, it doesn't seem like this NBA legend will bounce back anytime soon. (Photo: Rob Kim/Getty Images for the 2014 Tribeca Film Festival)

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Gary Dourdan - The CSI actor was riding high on as a series regular on a hit network television show, but blew all his royalty money on drugs and other debts. In 2012, Dourdan went broke. In court docs, he claimed that his monthly disposable income was only $321. Hopefully, a comeback is in the cards for the green-eyed hunk. He has several films in production and is still a commodity in television thanks to CSI's long reign.(Photo: Imeh Akpanudosen/Getty Images)

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Gary Dourdan - The CSI actor was riding high on as a series regular on a hit network television show, but blew all his royalty money on drugs and other debts. In 2012, Dourdan went broke. In court docs, he claimed that his monthly disposable income was only $321. Hopefully, a comeback is in the cards for the green-eyed hunk. He has several films in production and is still a commodity in television thanks to CSI's long reign.(Photo: Imeh Akpanudosen/Getty Images)

Kelis - Her milkshake brings all the boys to the yard, but apparently didn't put enough dough in her bank account. Kelis' financial status was revealed when she filed for divorce from Nas while eight months pregnant, and asked her ex for a massive monthly child support check. "I have run out of money,” she notes in the docs. “My survival is based on [Nas'] will at this time. If he does not want to pay for an expense, it does not get paid." (Photo: Bennett Raglin/BET/Getty Images for BET)

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Kelis - Her milkshake brings all the boys to the yard, but apparently didn't put enough dough in her bank account. Kelis' financial status was revealed when she filed for divorce from Nas while eight months pregnant, and asked her ex for a massive monthly child support check. "I have run out of money,” she notes in the docs. “My survival is based on [Nas'] will at this time. If he does not want to pay for an expense, it does not get paid." (Photo: Bennett Raglin/BET/Getty Images for BET)

Marion Jones - In 2007, Olympic legend Jones (she was the first woman to win five track-and-field medals at a single Olympics) went broke and became disgraced. Not only did she admit to taking performance-enhancing drugs throughout her career, she had a mountain of debt and only $2,000 left to her name. She not only lost her mansion and two other properties, she was stripped of her medals as well. These days, Jones is helping others to learn from her mistakes through her Take a Break program, encouraging young people to think twice before taking life-altering decisions. (Photo: Andy Kropa/Getty Images)

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Marion Jones - In 2007, Olympic legend Jones (she was the first woman to win five track-and-field medals at a single Olympics) went broke and became disgraced. Not only did she admit to taking performance-enhancing drugs throughout her career, she had a mountain of debt and only $2,000 left to her name. She not only lost her mansion and two other properties, she was stripped of her medals as well. These days, Jones is helping others to learn from her mistakes through her Take a Break program, encouraging young people to think twice before taking life-altering decisions. (Photo: Andy Kropa/Getty Images)

Photo By Photo: Andy Kropa/Getty Images

Michael Vick - In 2005, Vick was one of the highest-paid athletes in the world. By 2008, he was broke. Three years of splashing money around on mansions, a double-digit entourage and fruitless business ventures followed by the dog-fighting scandal that landed him in prison cost the Atlanta Falcons player to lose almost every dime he had. (Photo: Christian Petersen/Getty Images)

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Michael Vick - In 2005, Vick was one of the highest-paid athletes in the world. By 2008, he was broke. Three years of splashing money around on mansions, a double-digit entourage and fruitless business ventures followed by the dog-fighting scandal that landed him in prison cost the Atlanta Falcons player to lose almost every dime he had. (Photo: Christian Petersen/Getty Images)

Mike Tyson - In his glory days, the former heavyweight champ raked in more than $300 million with his golden gloves. By 2003, all that paper had gone up in smoke. Tyson was broke, and a social pariah for his history of domestic violence. But the boxer has recently proven he still has a second act in him. Tyson's one man show Undisputed Truth became an off-Broadway hit and an HBO special directed by Spike Lee. By encouraging people to laugh at his pain, Tyson is quickly becoming a cultural icon once again.(Photo: Isaac Brekken/BET/Getty Images for BET)

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Mike Tyson - In his glory days, the former heavyweight champ raked in more than $300 million with his golden gloves. By 2003, all that paper had gone up in smoke. Tyson was broke, and a social pariah for his history of domestic violence. But the boxer has recently proven he still has a second act in him. Tyson's one man show Undisputed Truth became an off-Broadway hit and an HBO special directed by Spike Lee. By encouraging people to laugh at his pain, Tyson is quickly becoming a cultural icon once again.(Photo: Isaac Brekken/BET/Getty Images for BET)

Photo By Photo: Isaac Brekken/BET/Getty Images for BET

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Natalie Cole - The daughter of legendary singer Nat King Cole found success as a singer/songwriter in her own right, but lost everything to an addiction to heroin and crack. Cole filed for bankruptcy in 1997, but by 2000 she had cleaned up her act and written a best-selling memoir Angel on My Shoulder. The book was adapted into a television movie that became a ratings bonanza.(Photo: UPI/John Angelillo /LANDOV)

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Natalie Cole - The daughter of legendary singer Nat King Cole found success as a singer/songwriter in her own right, but lost everything to an addiction to heroin and crack. Cole filed for bankruptcy in 1997, but by 2000 she had cleaned up her act and written a best-selling memoir Angel on My Shoulder. The book was adapted into a television movie that became a ratings bonanza.(Photo: UPI/John Angelillo /LANDOV)

Terrell Owens - Despite earning $70 million over his NFL career, T.O. wound up broke in 2012. We're guessing owing upwards of $50,000 a month in child support to four different baby mamas had something to do with that. (Photo: Alberto E. Rodriguez/Getty Images)

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Terrell Owens - Despite earning $70 million over his NFL career, T.O. wound up broke in 2012. We're guessing owing upwards of $50,000 a month in child support to four different baby mamas had something to do with that. (Photo: Alberto E. Rodriguez/Getty Images)

The Cool - From one bald, beared man to the next, its easy to understand why Rick Ross would have a tattoo of R&B/soul legend Isaac Hayes. Photo: Charles Nicholas/Commercial Appeal /Landov

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Isaac Hayes - Hayes and his wife, Mignon Harley, owed over $6 million in 1976. The couple filed for bankruptcy.(Photo: Charles Nicholas/Commercial Appeal/Landov)

La Toya Jackson - La Toya certainly inherited the Jackson gene for financial management. When singing didn't quite pan out as planned and she had to opt out of a contract early, Michael Jackson's sis filed for Chapter 11 bankruptcy in 1995. These days, she's on more stable ground with a regular income from her reality show Life With La Toya.(Photo: Charley Gallay/Getty Images)

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La Toya Jackson - La Toya certainly inherited the Jackson gene for financial management. When singing didn't quite pan out as planned and she had to opt out of a contract early, Michael Jackson's sis filed for Chapter 11 bankruptcy in 1995. These days, she's on more stable ground with a regular income from her reality show Life With La Toya.(Photo: Charley Gallay/Getty Images)

Marvin Gaye - The iconic crooner filed for bankruptcy in 1976 after a court ruled that the royalties from his upcoming album, Here, My Dear, were to be paid to his ex-wife for alimony. The LP hit stores in 1978.(Photo: Detroit Free Press/MCT/Landov)

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Marvin Gaye - The iconic crooner filed for bankruptcy in 1976 after a court ruled that the royalties from his upcoming album, Here, My Dear, were to be paid to his ex-wife for alimony. The LP hit stores in 1978.(Photo: Detroit Free Press/MCT/Landov)

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George Clinton - The Parliament-Funkadelic frontman filed for bankruptcy in 1985, and if that wasn't bad enough, a judge later revoked his rights to his own work when it was discovered he didn't disclose the potential for future income. The court sure dropped the bomb on this funk legend.(Photo: Brad Barket/PictureGroup)

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George Clinton - The Parliament-Funkadelic frontman filed for bankruptcy in 1985, and if that wasn't bad enough, a judge later revoked his rights to his own work when it was discovered he didn't disclose the potential for future income. The court sure dropped the bomb on this funk legend.(Photo: Brad Barket/PictureGroup)

Photo By Photo: Brad Barket/PictureGroup

Suge Knight - Mr. Knight reportedly had $11 in his bank account when he filed for bankruptcy in 2006. The former Death Row boss was being sued by Lydia Harris for $107 million for allegedly being screwed out of a 50 percent stake in the label. They eventually settled out of court for $1 million.(Photo: Frederick M. Brown/Getty Images)

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Suge Knight - Mr. Knight reportedly had $11 in his bank account when he filed for bankruptcy in 2006. The former Death Row boss was being sued by Lydia Harris for $107 million for allegedly being screwed out of a 50 percent stake in the label. They eventually settled out of court for $1 million.(Photo: Frederick M. Brown/Getty Images)

TLC - The trio barely profited from their monstrous success. After amassing a debt of $3.5 million, the group filed for bankruptcy in 1995, citing poor royalties and a breach of contract by Pebbles Reid, their former manager. Word is some of the debt had to do with Left Eye's insurance payments for burning the house of former boyfriend Andre Rison.(Photo: Scott Gries/ImageDirect/Getty Images)

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TLC - The trio barely profited from their monstrous success. After amassing a debt of $3.5 million, the group filed for bankruptcy in 1995, citing poor royalties and a breach of contract by Pebbles Reid, their former manager. Word is some of the debt had to do with Left Eye's insurance payments for burning the house of former boyfriend Andre Rison.(Photo: Scott Gries/ImageDirect/Getty Images)

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MC Hammer - In the early '90s, the rapper was apparently 2 legit 2 live on a budget. Hammer squandered his $33 million fortune on a ridiculously extravagant lifestyle and was $13.7 million in debt when he filed for bankruptcy back in 1996.(Photo: Gary Miller/Getty Images)

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Toni Braxton - How could Toni be broke with all those hits? The singer charged her financial problems to a bum record deal and mismanagement. Braxton owed $3.9 million and filed for bankruptcy in 1998. She sold her household possessions, including her two Grammys, to pay off creditors.(Photo: Gregg DeGuire/PictureGroup)

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Toni Braxton - How could Toni be broke with all those hits? The singer charged her financial problems to a bum record deal and mismanagement. Braxton owed $3.9 million and filed for bankruptcy in 1998. She sold her household possessions, including her two Grammys, to pay off creditors.(Photo: Gregg DeGuire/PictureGroup)

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Ron Isley - Isley reportedly declared bankruptcy and failed to pay taxes several times during a three-year period. Afterward, the IRS seized cars, a yacht and property in 1997. His money problems eventually caught up to him when he was sentenced to three years in prison for tax evasion in 2006. (Photo: Kevin Winter/Getty Images)

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Ron Isley - Isley reportedly declared bankruptcy and failed to pay taxes several times during a three-year period. Afterward, the IRS seized cars, a yacht and property in 1997. His money problems eventually caught up to him when he was sentenced to three years in prison for tax evasion in 2006. (Photo: Kevin Winter/Getty Images)

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Young Buck - A month after his Nashville home was raided by IRS agents, the former G-Unit rapper filed for bankruptcy. Filing under Chapter 13 allowed Buck to pay creditors back under a court-approved five-year plan. He'll also be able to reclaim the items the IRS seized once his debt is paid off.(Photo: Bryan Bedder/Getty Images)