While they managed to amass a huge fortune during their heyday, these popular musicians, actors and TV personalities lost a lot of money due to bad spending habits or other personal issues.
- Dec 11, 2022
AceShowbiz - R. Kelly is one of rags-to-riches stories among celebrities. After gaining recognition in 1993, he released a number of hits, including "Bump N' Grind", "I Believe I Can Fly", "Your Body's Callin' " and "If I Could Turn Back the Hands of Time". He received 24 Grammy nominations, winning three of them. At his peak, the R&B singer's net worth was as high as $100 million.
However, his life dwindled after dozens of abuse lawsuits and a costly divorce. He reportedly paid tens of millions of dollars in settlements with victims and lost a large portion of his net worth after divorcing Andrea Lee. He also faced tax problems with the IRS. His horrific saga concluded with a 30-year prison sentence following conviction on federal racketeering and sex trafficking charges. As his career came to a halt, his net worth now reportedly sits at -$2 million.
