10 actors who went broke after reaching career heights 

The term "Hollywood" is hardly ever dissociated from fame and fortune and the flashy lifestyle that follows. At the top of their game, actors in Tom Cruise's situation usually get paid millions of bucks, live in luxury mansions, and spend extravagantly. Yet many stars have hit rock bottom, being financially ruined through imprudent investments, ostentatious lifestyles, caustic legal battles, or sheer mismanagement of their finances.

For some, the fall from financial grace was quick with brute speed, as the duping costs for their excitement-filled lifestyle included divorces, marital conflicts, unpaid taxes, and unreasonably fierce legal struggles to drain their accounts faster than they could fill them. There were also those whose nonadjustment to the decline of their stardom has led them to bankruptcy and desperate attempts to pick up the pieces. Even a multimillionaire last decade, any entertainer in question soon thereafter found themselves at a different million, down-climbing the ladder of celebrity cred. Put simply, even the biggest names in Hollywood are not free from financial misfortunes.

Here, we look at 10 actors who have been broke after the peak of their careers, shedding light on the unexpected financial derailments of stars like Nicolas Cage, Johnny Depp, and Lindsay Lohan. Some bounced back with shrewd career maneuvers, while others are still struggling with the remnants of their financial blunders. Their stories are a warning.

1. Nicolas Cage

During the height of his career, Nicolas Cage was collecting $20 million per movie and had a fortune of over $150 million. But his affinity for quirky acquisitions such as a haunted house, a dinosaur skull (which he was required to return after smuggling allegations arose), and a private island brought about his downfall. By 2009, Cage owed the IRS more than $6 million in unpaid taxes and was compelled to sell most of his cherished assets. To get back on his feet, he accepted virtually every role he was given, appearing in several low-budget films. Recently, Cage has regained financial standing through critically received roles, such as Pig (2021) and Dream Scenario (2023).

2. Wesley Snipes

Wesley Snipes ruled the '90s and early 2000s with appearances in Blade, White Men Can't Jump, and Demolition Man. He was making millions, and he appeared to be financially set, but he quit paying taxes because he thought he was exempt. The IRS didn't agree, and in 2008, Snipes was sentenced to three years in prison for tax evasion, financially devastating him. Post-release, he failed to regain his A-list status and instead took on minor roles such as Coming 2 America (2021) and Expendables 3 (2014).

3. Lindsay Lohan

Lindsay Lohan was Hollywood's golden girl, earning millions from Mean Girls, Freaky Friday, and endorsement deals. But partying, drug use, and run-ins with the law put an end to it all. By 2012, she was said to owe the IRS $233,000, resulting in the seizure of assets. In a last-ditch attempt, she appeared nude for Playboy for an alleged $1 million. Lohan tried to make a comeback with reality television and entrepreneurial ventures, such as a Greek nightclub, but financial instability trailed her.

4. Johnny Depp

Johnny Depp is arguably one of the few actors to truly dominate the box office. In fact, just from the Pirates of the Caribbean franchise alone, he earned hundreds of millions. His spending, however, has gone as far as $30,000 a month for wine, $3 million blasting the ashes of Hunter S. Thompson from a cannon, and lawsuits against his former managers, leaving him with little fortune. The damages have been aggravated by his legal tussle with ex-wife Amber Heard, which has cost him millions in lawyers' fees.

5. Brendan Fraser

Brendan Fraser was probably among the highest-paid actors of the late 1990s and early 2000s, as the Mummy franchise alone proved profitable for him. However, some medical problems from stunt work, a massive alimony settlement that stood at $900,000 per year, and the lack of high-profile roles made Fraser very financially unstable. At one point, Fraser mentioned that he couldn't afford to pay alimony anymore. He made an inspiring comeback with The Whale in the year 2022, which earned him an Academy Award, proving that an actor's legacy is not bound by his financial troubles. His return to big-budget films like Killers of the Flower Moon suggests an optimistic future.

6. Stephen Baldwin

Stephen Baldwin played in The Usual Suspects and Bio-Dome, and that was pretty much the end of the line for Baldwin, who was affected by bad financial decisions and legal troubles further on in life. Though he did have early Hollywood success, Baldwin was ultimately facing foreclosure on his New York home in 2009 due to unpaid mortgages. In November 2013, Baldwin pleaded guilty to tax evasion, which resulted from failing to pay over $300,000 in back taxes. His brother Alec Baldwin had fully enough with him on his own, but Stephen Baldwin's cautionary debt tale is that it would never really get back to full career recovery.

7. Gary Busey

Gary Busey was once known as a quite well-known actor. There was a point at which he starred in movies such as Point Break, Lethal Weapon, and The Buddy Holly Story. But now, he has been just bones since a lot of fun, blood disease, and financial irresponsibility have drained him dry. As per reports, he filed for bankruptcy in 2012, completely declaring himself broke because of $500,000 in medical bills and taxes. His unpredictable behavior and frequent scrapes with the law further damage his already limited chance of landing stellar roles.

8. Burt Reynolds

Burt Reynolds was among the largest stars of the '70s and '80s, raking in millions from movies such as Smokey and the Bandit and Deliverance. But an expensive divorce from Loni Anderson, poor investments, and fewer roles made him broke in the '90s. He had to sell his most prized belongings, including awards and memorabilia, to survive. Even with the financial woes he faced, Reynolds kept working until his death in 2018. His image is still upstanding, yet his tale was a warning that Hollywood's cash flow is risky.

9. Teri Polo

Teri Polo, who starred in Meet the Parents, was deep in financial distress even after her success in Hollywood. She declared bankruptcy in 2014, listing more than $700,000 in unpaid bills, including taxes. Unlike some on this list, Polo wasn't famous for spending lavishly; her issues were due to a lack of consistent high-paying work and bad money management. She has gone on to act in TV shows such as The Fosters and Good Trouble, but she has yet to regain the financial security that she had lost.

10. Mickey Rourke

Mickey Rourke was a Hollywood heartthrob, but he quit acting in the '90s to become a boxer. The move resulted in serious injuries and financial devastation. When he attempted to revive his career, Hollywood had moved on. He returned with a bang with The Wrestler (2008), earning an Oscar nomination, but financial woes continued. Reputed to spend extravagantly on plastic surgery and high-end pets, Rourke has not had much financial security. In 2023, he confessed that he still takes parts mainly for money, demonstrating that even a return to fame isn't always a correction of previous errors.