10 Celebrities With Outrageous Financial Problems

mo' money mo' problems.

1. Toni Braxton

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The six-time Grammy award winning artist has filed for bankruptcy twice.The second time around it was believed her debt was as high as $50 million! She attributes her love of housewares to her poor spending. Even worse, her financial troubles resulted in her losing the rights to 27 of her songs. At least she still owns “Unbreak My Heart”.

2. Annie Leibovitz

petapixel.com

Despite her infamous body of work, in 2009 the photographer was forced to take a $24 million loan to help cover her debts! Part of the loan was to pay off the $2.1 million in Federal taxes she owed. In signing the loan Leibovitz signed over the rights to any photograph she has or will ever take as collateral. Basically, she has no legal rights over any of her work!

3. Sophia Loren

acertaincinema.com

In 1980 the Italian star was convicted for under-reporting income in her homeland of Italy. She was found guilty and sentenced to jail time. Despite living abroad at the time Loren decided to return to Italy and serve her sentence, which was 30 days. The amount she failed to report was 5 million lire, around $7,000…

4. Nicolas Cage

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Despite being one of Hollywood’s highest paid actors, earning around $40 million in 2009, the IRS ran after Cage claiming that he failed to pay up to $6.2 million in taxes from the year of 2007. In 2009 his New Orleans home was foreclosed, and currently his home in Nevada faces foreclosure. Cage has a Golden Globe, and has been nominated for two Oscars. He blames his troubles on financial mismanagement.

5. Dionne Warwick

bet.com

The “Walk On By” singer filed for chapter 7 bankruptcy in 2013 upon discovering she owes $10.2 million in taxes. Her debt is the result of years of interest rates and penalties due to poor financial management in the 80’s and 90’s. Warwick started her career over fifty years ago, and essentially has no savings to show for it.

6. Dolce & Gabbana

thetimes.co.uk

In 2013 the design duo, Domenico Dolce and Stefano Gabbana, were convicted of tax evasion in Italy. Apparently they failed to report $1.3 billion to authorities. No big deal. Lucky for them they were found not guilty by Italy's highest court, but the pair still had to pay 343.3 million euros in fines.

7. Marc Anthony

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Back in 2007 Anthony owed around $2.5 million in unpaid taxes. The again, in 2010, the singer was handed a $3.4 million lien on his Long Island home. This all unfolded during his dramatic divorce from Jennifer Lopez.

8. Wesley Snipes

weadiamedia.com

The Blade actor failed to pay over $15 million in income taxes, and was sentenced to three years in prison. He completed a majority of his sentence in April of 2013. Snipes claimed he was unfairly targeted, and made and example of, due to his fame.

9. Martha Stewart

champagnecartel.com

This list would not be complete without Martha! In 2004 the creator of the lifestyle industry, and goddess to housewives everywhere, was charged for insider trading. The Feds indicted Martha on 9 counts including securities fraud, and obstruction of justice. She served her sentence at a federal prison for around 5 months.

10. Lauryn Hill

303magazine.com

After releasing the “Misseducation of Lauryn Hill” in '98 Hill basically disappeared. But, in 2012 she reemerged when the IRS claimed she failed to pay over $1 million in taxes between 2005-2007. She was found guilty and sentenced to three months at a minimum security prison. During her highly publicized trial she wrote an open letter regarding her opinion of the IRS and reverse racism. Long is an understatement.

But, she did release a new song following her release from prison. If you're expecting That Thing Part 2, you'll be disappointed.