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Celebrities and Their Debt

Apr 12 2011

Celebrities Debt

Famous billionaire Donald Trump owns thousands of hotels and other properties worldwide. This man with a trademark hair style also wants to become president of the United States. Even with all of his properties, companies and television contracts, Trump still has considerable debt. Most individuals are surprised to learn this. Trump’s debts reach into the hundred-millions. He was also ordered to surrender his $25 million mansion in a divorce settlement.

Toni Braxton is a well-known singer. After coming from a small church choir originally, Braxton went on to build her way to the top, winning six Grammy awards and multiple other recognitions. She has sold over 40 million records. Despite her success, fame and fortune, the singer and mother has accrued a debt of more than $10 million dollars. She is certainly not hurting to survive; her record sales are well over $188 million.

M.C. Hammer, legally known as Stanley K. Burrell, also has significant debt. His debt reaches into the $40 million bracket. He is not only a rapper, but an entertainer, entrepreneur, actor and dancer. Even after selling 50 million records worldwide, his monetary problems persist. This could be a result of his desire for luxurious living. To give an example of just how much this famous artist shells out for his accommodations, he spent over $2 million on a marble floor for his bathroom.

Mike Tyson also had debts that reach into the $40 million range. He has spent his life boxing, acting and accepting many other well-paying jobs, but he also has some expensive hobbies. Tyson’s passions include exotic animals. He has several pet tigers, which cost over $4,000 each month to keep.

There are many other celebrities that spend lavishly. Elton John spent $468,000 on flowers, Nicholas Cage reported spending $276,000 on a dinosaur’s skull and Kim Basinger actually purchased an entire town for $20 million. Most average workers read these statistics with their jaws wide open in surprise. Although most people could never fathom spending this much money, it is always possible to earn more than the current salary. Most people simply aren’t in their optimal career field. Take a job aptitude test to determine which fields are the most suitable. Career assessments and job aptitude tests determine the best possible jobs for each person, based on their individual answers.

Debt is something that almost every American is experiencing today. With prices constantly on the rise and wages staying the same or decreasing, it is becoming difficult for many to stay afloat. Many people find themselves taking a career assessment or job aptitude test to find a new better-paying career. Getting a better job is one of the best ways to get out of debt faster. Don’t lose heart, though – everyone experiences debt, even celebrities. It is a well-known fact that celebrities spend a lot of money on houses, clothes and vehicles, but some celebs have gotten themselves into deep debt. Several have spent their money on some strange items, which are certainly not things most people would consider essential.