Celebrities That Have Gone Bankrupt

More money, more problems. It’s a rule of life, isn’t it? Especially for people who make a lot of money quickly – and at a young age – like celebrities.  I've never had that problem--working in radio, but it's amazing to me how you can have so much money coming in and not even be a little bit smart with it---get a good financial adviser.   But---alas, that is NOT the case, at least not with these superstars!

Here’s a rundown of some celebrities that had big problems managing their money – and eventually went bankrupt.

MC Hammer – He blew through tens of millions of dollars on stuff like two private helicopters.

Gary Busey – At his lowest point, Busey was said to have less than $50,000 in assets, even though he has appeared in over 70 movies.

Kim Basinger – She allegedly paid $20 million to buy a small town in Georgia in 1989. That probably wasn’t a great investment.

Mike Tyson – Tyson had to file for bankruptcy despite earning more than $300 million as a professional boxer.

Willie Nelson – Willie received a bill from the IRS for $16 million in unpaid taxes. (SheBudgets.com)