Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • wherediditallgo
    • By wherediditallgo 7th Apr 07, 12:27 AM
    • 2,808Posts
    • 4,319Thanks
    wherediditallgo
    Famous bankrupts, past & present
    • #1
    • 7th Apr 07, 12:27 AM
    Famous bankrupts, past & present 7th Apr 07 at 12:27 AM
    I thought I'd post this to remind us that we're not social outcasts


    King Edward II - 14th century English king. His 14th century attempt to conquer France led to the Hundred Years' War, and the cost of this scheme put him 30 (approx. $60) in debt - over $7,000,000 in today's cash.)

    Rembrandt 1606-1669 - the famous Dutch painter. He filed for bankruptcy at the age of 50 in 1656. Many of Rembrandt's paintings and his house were sold at an auction. After the bankruptcy, he continued to paint but was not allowed to sell his works directly to customers. He was able to circumvent this law by having his son take over his business and sell his paintings.

    Wolfgang Amadeus Mozart, 1756 - 1791, composer. He fell heavily into debt in his early 30s and when he died at age 35, was buried in an unmarked pauper's grave.

    Thomas Jefferson - when Thomas Jefferson died in 1826, his large estate and all his possessions, including 130 slaves, were auctioned off to pay his creditors.

    Milton Hershey - founder of Hershey!!!8217;s chocolate, his first four companies failed, his fifth is now one of the worlds largest chocolate manufacturers.

    Walt Disney !!!8211; Disney founded his first company (the Laugh-O-Gram Corp) in 1921 with $15,000 from investors, went bankrupt two years later when his investors pulled out due to distribution problems. His next company did rather better.

    L. Frank Baum - he ran a store into bankruptcy in Aberdeen, SD, before he turned to writing. He wrote the !!!8220;Wizard of Oz!!!8221;.
    Immanuel Nobel (father of Alfred Nobel, founder of the Peace Prize) - bankrupt twice.
    Henry John Heinz - condiment manufacturer.
    James Abbot McNeil Whistler - Artist
    Abraham Lincoln - American president
    Mark Twain - American author
    Oscar Wilde - poet and author
    Henry Ford !!!8211; first two automobile companies failed.
    William Fox - co-founder of 20th Century Fox
    Charles Goodyear - inventor and tyre manufacturer
    Mickey Rooney - actor
    Lionel Bart - British composer
    Harry Saltzman - film producer of James Bond
    Isaac Hayes !!!8211; Songwriter, composer, singer Soul Ltd.
    Larry King - talk-show host
    Tom Petty - rock star
    Cyndi Lauper - rock star
    Meat Loaf - rock star
    Mick Fleetwood - rock star
    Marvin Gaye - singer
    Andy Gibb - rock star
    Jerry Lee Lewis - Rock n!!!8217; Roll star
    Tammy Wynette - country music star
    Willie Nelson - rock star
    Kim Basinger - actress
    Gary Coleman - star of "Diff'rent Strokes"
    Burt Reynolds - actor
    Debbie Reynolds - actress
    MC Hammer - musician
    Natalie Cole - singer
    Toni Braxton - rock star
    Chaka Kahn - rock star
    Mike Tyson - boxer
    Chris Eubank - boxer
    Anna-Nicole Smith - Playboy centrefold
    Natalie Cole - singer
    Lynne Spears - mother of Britney
    Don Johnson - actor-producer
    Eddie "The Eagle" - ski jumper
    Heidi Fleiss
    Members of the Jackson family - first Michael's parents with debts of $45m , then some of the children - Tito, Jermaine, Randy and Rebbie. Apparently, Michael and his songbird sisters Janet and LaToya did nothing, saying they had no part of the family firm. La Toya Jackson then went bankrupt herself, & Michael is rumoured to be heading for bankruptcy himself. At one point, he'd managed to reduce his spending to 1m a month.


    See, there is life after bankruptcy. It doesn't mark you as a failure for the rest of your life. For many people, the challenge of rising again after it made them that much more determined to succeed in the future. There's no reason why that can't be the case for any of us as well.

    This Forum Tip was included in MoneySavingExpert's weekly email

    Don't miss out on new deals, loopholes, and vouchers

    Last edited by Former MSE Natasha; 22-12-2008 at 3:23 PM.
Page 25
    • fatbelly
    • By fatbelly 21st Jun 17, 3:12 PM
    • 12,539 Posts
    • 9,589 Thanks
    fatbelly
    Boris Becker, just in time for Wimbledon

    http://www.dailymail.co.uk/news/article-4625270/Boris-Becker-declared-BANKRUPT-High-Court.html
    • JCS1
    • By JCS1 21st Jun 17, 6:52 PM
    • 3,642 Posts
    • 7,469 Thanks
    JCS1
    Was just coming to post the same thing http://www.bbc.co.uk/news/business-40358006
    • TheGardener
    • By TheGardener 21st Jun 17, 9:01 PM
    • 2,395 Posts
    • 2,299 Thanks
    TheGardener
    Love it when this thread pops up - regular as clockwork
    sports stars, show business and entrepreneurs - well worn path to cut losses and leave the house and swanky car safely with the 'management company'
    Give us poor skint souls a bad name they do...
    • sourcrates
    • By sourcrates 21st Jun 17, 9:54 PM
    • 14,859 Posts
    • 13,945 Thanks
    sourcrates
    Oh now the mighty have fallen !!
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • poppy10
    • By poppy10 2nd Jul 17, 10:28 AM
    • 5,984 Posts
    • 7,233 Thanks
    poppy10
    Liz Jones, maybe

    Watch this space
    Originally posted by fatbelly
    She confirms today that she was made bankrupt on May 10th

    http://www.dailymail.co.uk/femail/article-4658020/Like-Mel-m-broke-s-shame-hurts-most.html




    Still blaming others for her bankruptcy despite the fact that she as been pretty much boasting about being so crap with her money for years.

    2010 Liz Jones: I've Come Clean About My Debts
    I discovered I had 2,596 to go before I hit my overdraft limit but instead of thinking 'Oh dear, I'm nearly 13,000 in the red', I thought: 'Hoorah! I can go to Sweaty Betty and buy a 100 pair of Stella McCartney trainers!'
    2007 Liz Jones: Yes, I'm a Subprime Borrower
    In order to get a mortgage two years ago, I had to pay 10,000 to Savills Private Finance to secure it, and endure the life sentence of a higher rate of interest, which means I can only afford to pay the interest of my huge debt. Yes, my London house made me 500,000 in 18 months, but these 'profits', for normal people like you and me, are merely relative.
    • TheGardener
    • By TheGardener 2nd Jul 17, 11:46 AM
    • 2,395 Posts
    • 2,299 Thanks
    TheGardener
    Who?....never heard of her
    • peterkay369
    • By peterkay369 2nd Jul 17, 12:12 PM
    • 164 Posts
    • 68 Thanks
    peterkay369
    Who?....never heard of her
    Originally posted by TheGardener
    Glad I'm not the only one
    • sourcrates
    • By sourcrates 2nd Jul 17, 12:59 PM
    • 14,859 Posts
    • 13,945 Thanks
    sourcrates
    Glad I'm not the only one
    Originally posted by peterkay369
    Nope, me neither !!
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Deep In Debt
    • By Deep In Debt 3rd Jul 17, 9:10 PM
    • 8,193 Posts
    • 12,881 Thanks
    Deep In Debt
    I wonder how long it will be until Mel B goes bankrupt?
    https://uk.news.yahoo.com/mel-b-just-961-bank-account-squandering-fortune-150555045.html

    Wish I had 961 in my bank account!
    • peterkay369
    • By peterkay369 3rd Jul 17, 9:22 PM
    • 164 Posts
    • 68 Thanks
    peterkay369
    I wonder how long it will be until Mel B goes bankrupt?
    https://uk.news.yahoo.com/mel-b-just-961-bank-account-squandering-fortune-150555045.html

    Wish I had 961 in my bank account!
    Originally posted by Deep In Debt
    I'd be happy with 61!

    So how do all of these celebs apparently declare bankrupt with no affect on their lifestyles?!
    • TheGardener
    • By TheGardener 3rd Jul 17, 9:35 PM
    • 2,395 Posts
    • 2,299 Thanks
    TheGardener
    ...So how do all of these celebs apparently declare bankrupt with no affect on their lifestyles?!
    Originally posted by peterkay369
    Put very simplistically - All their 'assets' are owned by their 'management company' and leased back to the 'star' who then 'allegedly' 'can't afford' the 'rent' and goes BR - but still has use of the house and the car etc because the 'assets' 'belong' to the 'management company' (not the BR) - which of course wouldn't exist if they were not a 'star' in the first place ...
    Last edited by TheGardener; 03-07-2017 at 9:38 PM.
    • TheGardener
    • By TheGardener 7th Aug 18, 8:57 PM
    • 2,395 Posts
    • 2,299 Thanks
    TheGardener
    'Skin of' and 'teeth'...

    https://www.msn.com/en-gb/entertainment/celebrity/katie-price-swerves-bankruptcy-as-shes-given-12-weeks-to-pay-off-debts/ar-BBLBi0Y?ocid=spartanntp

    There are 'assets' to protect...
    • JCS1
    • By JCS1 8th Aug 18, 10:08 PM
    • 3,642 Posts
    • 7,469 Thanks
    JCS1
    I was just popping on the thread to post this, seems like she is going for an IVA

    https://www.thesun.co.uk/tvandshowbiz/6959881/katie-price-not-declared-bankrupt/
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,517Posts Today

8,725Users online

Martin's Twitter
  • Ta ta... for now. This August, as I try and do every few yrs, I'm lucky enough to be taking a sabbatical. No work,? https://t.co/Xx4R3eLhFG

  • RT @lethalbrignull: @MartinSLewis I've been sitting here for a good while trying to decide my answer to this, feeling grateful for living i?

  • Early days but currently it's exactly 50 50 in liberality v democracy, with younger people more liberal, older more? https://t.co/YwJr4izuIj

  • Follow Martin