Legends from across the spectrum of the “rich and famous” such as athletes, movie stars, politicians and even famous businesspeople have filed for bankruptcy and lived to tell about it! Here are a few more examples of how bankruptcy does not mean the end of the world for you or your family. Thousands of Americans have come back from bankruptcy stronger and more financially stable. Let’s look at some more examples of famous people who have survived and thrived after bankruptcy.
- Francis Ford Coppola – Coppola was responsible for directing the Godfather trilogy and was the winner of five Academy Awards before he was 40. He was $300,000 in debt before the first Godfather movie came out. He then was able to rebound but began bankruptcy proceedings again after his 1982 musical One From The Heart tanked. Luckily, he borrowed the money from his mother to get into the wine business and again turned his financial future around.
- Lady Gaga– The award winning singer is now reportedly worth $190 million after racking up serious amounts of cash through album sales, tours and endorsements, but there was once a time when she wasn’t living such a life of luxury. Unfortunately Lady Gaga was bankrupt during her 2009 Monsters Ball tour. She put her own personal money into the tour and was able to, thankfully, recoup after the tour finished. Today we know her as the successful multimillion dollar singer she is known for being.
- Meatloaf – Singer and performer Meatloaf was unlucky enough to go bankrupt twice in the same decade. He owed 3 million dollars and was able to make his return both financially and in the world of music.
- Perez Hilton Back in 2005 Perez Hilton had only been blogging and keeping us up-to-date on Hollywood’s “A-List” for four years, and he had to file for bankruptcy due to soaring credit-card bills and sky-high college debts. Thankfully it would appear that he managed to keep his computer. He has since recovered financially and has built his fan base and followers exponentially since that time.