7 Celebrities Who Suffered A Reversal Of Fortune

Nicolas Cage

Nicolas Cage was one of the highest paid actors in Hollywood in 2009 according to Forbes, earning over $40 million in the year. It is estimated that during the period of 1996-2011 he earned a sum of $150 million. But his life was extravagant with luxurious expenses. He spent his earnings on exotic animals, private jets, mansions and sports cars. This resulted in him to owe $6.5 million in back taxes and he is still said to be paying back what he owed in taxes.

Larry King

The famous television and radio host Larry King currently has an estimated net worth of $150 million. But back in 1972 when he was struggling to find a journalist job, he was arrested for grand larceny and accused of stealing $5,000 from a business partner. The charges were eventually dropped out. In 1978 he filed a bankruptcy with a total of $352,000 in debt. When CNN offered him a late night talk radio show it ran for 25 years.

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