--- description: 50 Cent is in good company title: 50 Cent and 12 Other Celebrities Who Filed for Bankruptcy image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- * [Entertainment](/section/entertainment/) ## Entertainment Update your preferences in [Account Settings](/account/preferences/) Close * [celebrities](/tag/celebrities/) ## celebrities Update your preferences in [Account Settings](/account/preferences/) Close # 13 Celebrities Who Went Bankrupt by [Sarah Begley](/author/sarah-begley/) ## Sarah Begley Update your preferences in [Account Settings](/account/preferences/) Close Jul 13, 2015 9:17 PM CUT by [Sarah Begley](/author/sarah-begley/) ## Sarah Begley Update your preferences in [Account Settings](/account/preferences/) Close Jul 13, 2015 9:17 PM CUT ### 50 Cent  NEW YORK, NY - JUNE 02: 50 Cent attends the "Power" Season Two Series Premiere at Best Buy Theater on June 2, 2015 in New York City. (Photo by Daniel Zuchnik/WireImage) Daniel Zuchnik—WireImage/Getty Images The rapper filed for bankruptcy [on Monday](http://time.com/3955713/50-cent-bankruptcy/ "undefined"), just days after being ordered to pay $5 million to a woman who said he posted her sex tape online without permission. He listed both his assets and his liabilities in the $10 million to $50 million range. ### Toni Braxton  Toni Braxton is seen at the 20th Century Fox & Fox Searchlight Oscar Party at BOA Steakhouse on Sunday, Feb. 22, 2015, in West Hollywood, Calif. (Photo by Todd Williamson/Invision for Fox Searchlight Pictures/AP Images) Todd Williamson—Invision/AP The “Un-Break My Heart” singer has filed for bankruptcy [twice](http://abcnews.go.com/Entertainment/toni-braxton-reveals-story-bankruptcy-headlines/story?id=17839154 "undefined"), in 1998 and 2010\. She says the first round was due to low royalties from her record label, and the second because she canceled her Vegas show after learning she was ill. ### MC Hammer  MC Hammer attends the SNL 40th Anniversary Special at Rockefeller Plaza on Sunday, Feb. 15, 2015, in New York. (Photo by Evan Agostini/Invision/AP) Evan Agostini—Invision/AP The rapper filed for bankruptcy in 1996, when he was [reportedly](http://www.sfgate.com/news/article/Rapper-M-C-Hammer-files-for-bankruptcy-protection-3148086.php "undefined") already delinquent on several years’ worth of taxes. ### Larry King  Larry King arrives at the 2015 Clive Davis Pre-Grammy Gala at the Beverly Hilton Hotel on Saturday, Feb. 7, 2015, in Beverly Hills, Calif. (Photo by John Shearer/Invision/AP) John Shearer—Invision/AP The talk show host had debts in the amount of [$352,000 in 1978](http://www.people.com/people/archive/article/0,,20075993,00.html "undefined"), forcing him to declare bankruptcy. The same year, he started the radio show that eventually led to his 25-year gig on CNN, which presumably helped refill the coffers. ### Gary Coleman  FILE - In this Feb. 26, 2008 file photo, actor Gary Coleman appears on the the NBC "Today" program in New York. (AP Photo/Richard Drew, file) Richard Drew—AP The _Diff’rent Strokes_ actor said much of the money he made on TV was taken by his parents while he was underage; though some of it was recouped in a lawsuit, he filed for bankruptcy in [1999](http://www.biography.com/people/gary-coleman-15720749 "undefined"). Coleman died in 2010. ### Mike Tyson  Mike Tyson attends a special screening of "Champs" at the Village East Cinema on Thursday, March 12, 2015, in New York. (Photo by Andy Kropa/Invision/AP) Andy Kropa—Invision/AP The boxer filed for bankruptcy with debts of about $23 million in 2003; at the time, the [New York _Times_](http://www.nytimes.com/2003/08/05/sports/tyson-s-bankruptcy-is-a-lesson-in-ways-to-squander-a-fortune.html "undefined") said he had made about $400 million in his career. ### Burt Reynolds  FILE - In this Jan. 27, 2008 file photo, Burt Reynolds is shown in Los Angeles. (AP Photo/Kevork Djansezian, file) Kevork Djansezian—AP The _Boogie Nights_ actor was [$10 million](http://www.ew.com/article/1998/10/07/burt-and-earnings "undefined") in the red when he filed for bankruptcy in 1996. ### Cyndi Lauper  Cyndi Lauper attends the 46th Annual Songwriters Hall Of Fame Induction and Awards Gala at the Marriott Marquis on Thursday, June 18, 2015, in New York. (Photo by Evan Agostini/Invision/AP) Evan Agostini—Invision/AP The “Time After Time” singer filed for bankruptcy in the early ‘80s after her first group flopped, [according to _Rolling Stone_](http://www.rollingstone.com/music/artists/cyndi-lauper/biography "undefined"). Luckily for the pop singer, her best years were still ahead of her. ### Tom Petty  Tom Petty and the Heartbreakers perform at the PPL Center in Allentown. Pa., on Tuesday, Sept. 16, 2014\. (AP Photo/The Express-Times, Matt Smith) Matt Smith—AP When the rocker’s record label was acquired by another company, Petty refused to be traded like a baseball card, and [declared bankruptcy in 1979](http://www.history.com/this-day-in-history/tom-petty-defies-his-record-label-and-files-for-bankruptcy "undefined") to try to nullify his previous contract. The gamble worked: MCA released and re-signed him under a more favorable deal. ### Marvin Gaye  FILE - In this Jan. 17, 1983 file photo, Singer-songwriter Marvin Gaye is seen at the American Music Awards in Los Angeles. Singer John Legend is joining the Kennedy Center in Washington to start a program in honor of the late Marvin Gaye encouraging young artists to engage in social issues. The project announced Tuesday echoes Gaye's lyrics and asks young people to consider "What's Going On ... Now?" They can upload videos, photos, poems, music or any recordings of creative expression to the project's website to answer that question. (AP Photo/Doug Pizac) Doug Pizac—AP The “What’s Going On” singer filed for [bankruptcy](http://www.rollingstone.com/music/artists/marvin-gaye/biography "undefined") in 1978 after an expensive divorce from his first wife, Anna Gordy. ### Mick Fleetwood  Fleetwood shrugs off money woes. File photo dated 16/09/2013 of Mick Fleetwood, as the Fleetwood Mac co-founder says he has "lost count" of how many times he was made bankrupt, he says in an interview. Issue date: Sunday October 26, 2014\. The drummer told The Sunday Telegraph's Seven magazine: "I'm like Donald Trump. I think he's been bankrupt about seven times. See PA story SHOWBIZ Fleetwood. Photo credit should read: Ian West/PA Wire URN:21289126 Ian West—PA/AP The Fleetwood Mac drummer declared bankruptcy in 1984, counting assets of $2,404,430 and debts of $3,697,163, [according to _Rolling Stone_](http://www.rollingstone.com/music/news/mick-fleetwood-bankrupt-19840830 "undefined"). ### Wayne Newton  Singer and event host Wayne Newton arrives at the Luminary Awards benefiting the U.C.L.A Department of Head and Neck Surgery at the Beverly Wilshire Hotel on Wednesday, Jan. 22, 2014 in Beverly Hills, Calif. (Photo by Dan Steinberg/Invision/AP) Dan Steinberg—Invision/AP The “Danke Schoen” singer filed for bankruptcy with debts of $20 million in 1992, [according to the L.A. _Times_,](http://articles.latimes.com/1992-08-18/business/fi-5785%5F1%5Fwayne-newton "undefined") even while he was appearing in a successful Las Vegas show for half the year. ### Gary Busey  Gary Busey arrives at the premiere of "Machete Kills" at Regal Cinemas L.A. Live on Wednesday, Oct. 2, 2013 in Los Angeles. (Photo by Jordan Strauss/Invision/AP) Jordan Strauss—Invision/AP The _Lethal Weapon_ actor [filed for bankruptcy](http://www.reuters.com/article/2012/02/09/idUS63096192020120209 "undefined") in 2012 with a net worth of $50,000 or less and debts between $500,000 and $1 million, _Reuters_ reported. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3956059/bankrupt-celebrities-50-cent/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3956059/bankrupt-celebrities-50-cent/"},"headline":"13 Celebrities Who Went Bankrupt","datePublished":"2015-07-13T21:17:44.000Z","dateModified":"2026-05-11T05:02:31.063Z","description":"50 Cent is in good company","url":"https://time.com/3956059/bankrupt-celebrities-50-cent/","keywords":["celebrities","50 Cent"],"thumbnailUrl":"","author":[{"@type":"Person","name":"Sarah Begley","jobTitle":null,"url":"https://time.com/author/sarah-begley/"}],"articleSection":"Entertainment","image":[],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/entertainment/","name":"Entertainment"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/celebrities/","name":"celebrities"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3956059/bankrupt-celebrities-50-cent/","name":"13 Celebrities Who Went Bankrupt"}}]}] ```