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Celebrities Who Went Bankrupt Because of Their Terrible Decisions

Did you know that Tom Petty once filed for bankruptcy to get out of his contract with his record label and that Burt Reynolds lost millions by investing in a failing restaurant chain? ▬Contents of this video▬ 00:00 - Intro 00:23 - Marvin Gaye 01:18 - Larry King 02:15 - Burt Reynolds 05:18 - Gary Colemon 05:57 - Gary Busey 06:42 - Tom Petty 07:20 - Outro Like this content? Subscribe here: https://www.youtube.com/factsverse?su... Or, watch more videos here: https://www.youtube.com/playlist?list... We all make mistakes – even the best of us. Sometimes we like to think that celebrities are immune to the same kind of woes that us common folk often find ourselves in, but they're not immune to falling victim to the same types of perils we do. In this video, however, we aren’t just going to be discussing celebrities who made a few innocuous blunders that they quickly recovered from. Instead, we’re going to be talking about stars who once resided in the upper echelons of the financial elite only to come crashing down to earth, losing all of their wealth in the process and inevitably having to file for bankruptcy. The celebrities we're about to cover not only made several woeful and wildly ill-advised financial choices, but they ended up broke as a joke, scrambling to salvage what little they had in order to avoid a life of destitution and abject poverty. Sometimes this resulted from a celebrity living a lavish lifestyle that went beyond their means, while others neglected to pay their taxes and wound up with Uncle Sam knocking on their doors demanding them to pay every last penny they had to cover their debts. As you will soon see in this video, there are many different reasons why stars fall. Watch this video in full to learn all about six celebrities who declared bankruptcy and the alleged reasons why they ended up in this precarious financial situation. Celebrities Who Went Bankrupt Because of Their Terrible Decisions