6 Common Money Mistakes Made by Celebrities

October 2, 2008 by JS · 2 Comments 

Sure, they might be famous and they might have made a lot of money, but that doesn’t mean they don’t run into financial troubles just like all the rest of us. That’s right, celebrities make money mistakes too. In fact, they make even more money than most of us so their mistakes are bigger too.

Here’s a look at 6 huge money mistakes celebrities have made over the past couple of years.

He Get’s Half of What?

That just might be what Madonna is saying in a few weeks. Reports are that she and husband Guy Richie are on the verge of calling it quits.

And you know what? There was no pre-nuptial agreement. So that means Mr. Richie will get half of everything Madonna has.

Just ask Paul McCartney how that feels. He paid his ex-wife, Heather Mills, nearly 49 million dollars.

This is Too Sad

The early death of Heath Ledger was bad enough.

But to make matters even worse, he hadn’t updated his will in nearly 5 years. So his daughter and his girlfriend Michelle Williams, who is also the mother of his child, received no money from him.

Ledger failed to update his will to include these loved ones whom he didn’t even know when his last will was written.

I Don’t Make Enough Money to Save Anything

Recently Britney Spears’ father had to take over control of her finances. Apparently Brittany loves to spend money. In fact, it must burn a hole in her Louis Vuitton because she has not saved one cent of her earnings.

That’s right. She makes roughly $738,000 a month, but she spends every last penny of that money, every single month.

Say what you want, but that takes a lot of work.

The Tax Man Cometh

But Wesley Snipes must not have remembered his taxes or the tax man.

Because he failed to pay an estimated 15 million dollars in taxes.

Now he’s doing three years in prison for his lack of good judgment.

Stars Get Scammed Too

Hopefully you haven’t been taken by the Nigerian email scam or the phone call scam that asks for your bank account number.

If you have fallen for such a scam then you have something in common with Larry King.

Recently King lost millions of dollars on a complex insurance investing scam.

It’s horrible how these scam artists prey on the elderly.

I Bet You Can’t Lose More Money then These Guys

An estimated 9,000,000 people have an addiction to gambling. Ex-sports stars make up a portion of that 9,000,000.

The best basketball player ever, Michael Jordan, reportedly lost a cool $1,000,000 on just one game of golf. Another basketball player, Charles Barkley, admits he’s lost about $10,000,000 to gambling in the past year. Golfer John Daly claims to have lost between $50 and $60 million.

Wow. Perhaps these guys should join some type of softball league or something.

Top 10 Highest Paid Male Athletes

August 9, 2008 by JS · 1 Comment 

Why do they Make So Much?

In honor of the Olympics I thought it would be fun to explore the idea of money in sports. So I headed over to Forbes’ list of the 10 highest paid male athletes.

This list is based on earning for the period of June 1, 2007, and June 1, 2008. Some things that are interesting to me about the list. Michael Jordan has been retired since 1999 and earns all of his money from endorsements. It shows just how big of a star he was, that 9 years later he is still the #3 earning athlete.

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