America is the land of opportunity, where someone can start from humble origins and grow wealthy through hard work and a little bit of luck.
The opposite of this is true too – someone can start from a position of privilege and power and lose it all, by making bad choices or having bad luck or all of the above.
Is there something in common, something that connects the stories of celebrity millionaires who somehow lost it all? Let’s take a look at the individual stories of ten such celebrities, people who became famous for being rich before going completely broke.
Donald Trump is a reality-show star and real-estate developer with a powerful passion for the limelite, leading to him clenching the Republican nomination in the 2016 election. Central to his success has been him cultivating a persona of success and business smarts, claiming competence in everything from the hotel industry to selling Trump steaks with his name on them. Despite these declarations, Trump has managed to find himself filing for bankruptcy multiple times over – Trump filed for corporate bankruptcy in 1991, 1992, 2004, and as recently as 2009. This hasn’t deterred the people who voted for him, of course – but the facts remain what they are. In reality, Trump was born rich and simply maintained his wealth in pace with inflation – in short, this mogul could only be described as mediocre, at best.