This post was part of AOL Money & Finance's Best & Worst of 2007. Voting has now closed and readers have chosen Britney Spears as the celebrity most likely to lose everything. Be sure to let us know in the comments if you are pleased with this result.
I read somewhere that when actress Shirley MacLaine finally got her break in Hollywood, the first thing she bought was a four-unit apartment building. That way, she reasoned, when the gravy train stopped, as she believed could happen, she and her mother would have a place to live, plus units to rent out. That was smart planning. And as it turned out, she needn't have worried.
You don't see a lot of that kind of thinking among the celebrity set today.
Think multi-millionaire celebs can't lose it all? Ask O.J. Simpson about his fortune these days. Here are four celebrities in danger of losing it all, thanks to their ongoing shenanigans and lack of planning for a less sparkly, less-in-demand future.
Britney Spears. Her trainwreck lifestyle keeps making the headlines, but it's clear Brit's star-machine is on the downturn. Although she is reputed to be worth some $100 million, according to Forbes, which placed her in the number 12 slot of its 20 Richest Women in Entertainment list earlier this year, a lot of that is made through endorsement deals. Her music still sells, but not like it once did. It's all about diminishing returns. The more Brit's white trash lifestyle is played out in the tabloids, the fewer endorsement deals she will see. She made headlines recently again for purportedly going through her monthly take-home, a staggering $740,000, without saving a dime. I suppose that's easy to do when you're having to support an ex-husband and your own $100,000-a-month clothing habit. Now, a reasonable person might see the writing on the wall: With your star on the descent, best to sock something away for that fast approaching rainy day. Then again, a reasonable person wouldn't have worn this get-up for a comeback concert.
Amy Winehouse. You do have to wonder sometimes. Where do people with absolutely no talent get to where they are? Are they sleeping with the right people? Is their daddy someone powerful? Does the force of their conviction blind people to the reality of their complete lack of talent? I'm thinking Courtney Love fits into this category. But have you seen this singer? Her first hit was "I don't want to go to rehab..." which sums up the rest of her career. Her voice has been compared to blue's great Sarah Vaughn's.
She has since canceled all dates. Just as well. Any number of chronic inebriants down on Skid Row could probably manage a better show.
Lindsay Lohan. Beautiful and talented, and yet she can't seem to hire a decent driver or keep the coke out of her nose. Lately she's rumored to be running out of cash, so much so that she allegedly shopped staged photos of her family Thanksgiving to tabloids -- her six-figure starting price quickly fell to a mere $20K, however. Or maybe that rumor refers to her being paid to shop at upscale boutiques ... no matter. When people start talking about a celeb running out of money, it's often the beginning of the end. Of course, it's the British tabloids that are pushing these rumors, and some of these rags make People magazine look like the New Yorker in comparison.
Still, there's no denying rumors that Lohan's reputation as a hard-partying gal has hurt her, in terms of being tapped for film roles, as well as for lucrative endorsement deals. One would think this child-actress would have better sense than to blow it all in her '20s. I guess not.
Michael Vick: Funny thing about sports super stars making multi-millions; some of them start thinking they're a Master of the Universe.
But when Atlanta Falcons quarterback Michael Vick indicated that he'd cop to charges of dogfighting, early last week, he not only lost face -- he lost it where it hurts. The admission has certainly cost him a huge sum of money, both on the field and off.
It was ruled that the Falcons were entitled to recoup nearly $20 million in bonuses paid to Vick from 2004 through his bust. The franchise had argued that Vick used part of his $130 million contract to finance his dogfighting operation.
He also lost big on current and future endorsements. Seems not a lot of consumer goods producers want to be associated with dog-killing thugs. And let's not forget about PETA's wrath. Nobody wants that kind of trouble.
AirTran Holdings, Inc. (NYSE: AAI) declined to renew its contract with Vick in May. In late July, Nike Inc. (NYSE: NKE) suspended its contract with him, Reebok stopped selling his No. 7 jersey, and Rawlings terminated its endorsement deal with Vick. Two of the top collector's card makers announced they would stop including him in their new packs as well. Ouch. That's gotta bite.
Indeed, Vick's financial fortunes are dwindling so rapidly that federal prosecutors asked a judge to set aside $1 million to care for the pit bulls left behind when Vick was busted. Only time will tell whether this former player (in both senses of the word) will have enough left over for dog food in a few years' time.
Share the reasons for your pick of the celebrity most likely to lose it all in the comments, or let us know about any contenders we overlooked. Also be sure to see the rest of AOL Money & Finance's Best & Worst of 2007.











Reader Comments (Page 1 of 1)
12-28-2007 @ 7:51AM
Willow said...
I mostly agree with the general population, that Britney is "most likely to lose it all." However, Linds
Lohan is not far behind her... Linds has been in rehab as many times as Britney, and actually got
arrested for DUI. I'm not sure if Brit has ever been arrested for DUI, but I tend to think not, as I think I would have remembered that. Amy Winehouse, which by the way is the best last name for her.. So
ironic: Wine House: How better to describe the drunk that she is! Also, the thing about Amy Winehouse that is different from Brit and L. Lo is she really doesn't seem affected at all by the fact that she is f'ing up. She actually seems to enjoy being mentally ill and basks in that ironic glory. As far as Michael Vick goes, I really know nothing about the sports world, so therefore, I know nothing about Vick...
People say that Britney is going to spend through the $100 million fortune she is sitting pretty on. But
I beg to differ... She received over $700k per month, yes that's per month.. How can one piss through that much money, and end up with zip, nil.
Well, I suppose if Brit is NOT investing wisely, she could surely go bankrupt one day in the far, far
future....
1-30-2008 @ 9:30PM
lindabradley said...
who in the hell cares. is our society so dumbed down that we actually consider these people celebrities. hollywood has gone to hell. maybe they can make some money by going on springer, or povich or the other hollywood trash shows. make them go away please.