Famous bad investments

Not ready for some football Although baseball had always reigned as America’s favorite pastime, by the late s sports tastes were turning to football. Click ahead to get started. Its digital camera patent had expired in Both networks fumbled, however, fearing the impact of a live sports event on their schedules filled with nicely performing sitcoms.

Surprisingly Good Jobs Report Could Shock Mortgage Borrowers

While Arnold Schwarzenegger had famous bad investments his ties with Planet Hollywood by the yearBruce Willis and Sylvester Stallone maintain their involvement with the chain, which now has fewer than 20 locations worldwide, down from more than at its peak. Twain famously observed that he’d learned two things from his disastrous investment experience: not to invest when you can’t afford to, and not to invest when you. In the s, Charles Ponzi inspired the term «Ponzi scheme,» after taking millions of dollars from thousands of Boston investors with the promise of incredible returns on International Postal Reply coupons. Instead, he collected money from new investors to pay earlier ones without conducting any legitimate business. Actor Kevin Bacon and his wife actress Kyra Sedgwick, and director Steven Spielberg were some of the better known investors to lose big when Bernie Madoff’s scam unraveled in December

Nicolas Cage was one of Hollywood’s biggest stars — earning $40 million in 2009 alone — but also one of its biggest spenders.

Finance skills don’t just appear out of thin air! Those who come from wealthy families are ahead of the pack for a number of reasons: 1 they have access to money, 2 they get the best education money can buy, and 3 they have some financial training or at least access to good money managers. This immediately puts them at a disadvantage because financial literacy isn’t a natural skill and because money management is not a major or even minor part of most school curriculums! Many celebrities come from fairly humble beginnings with no more finance training than the average public school kid. And although they make it big, the harsh realities of bad investments, divorce, and other financial crises are able to lay waste to their hard-won fortunes. There’s a lot to be learned from their stories. Here’s a list of celebrities who made it big and lost it all through some really bad investments.

Michael Jackson was reportedly at least $400 million in debt when he died unexpectedly in 2009.

While Arnold Schwarzenegger had severed his ties with Planet Hollywood by the yearInvestents Willis and Sylvester Stallone maintain their involvement with the chain, which now has fewer than 20 locations worldwide, down from more than at its peak. Twain famously observed that he’d learned two things from his disastrous investment experience: not to invest when you can’t afford to, and not to invest when you. In the s, Charles Ponzi inspired the term «Ponzi scheme,» after taking millions of dollars from thousands of Boston investors with the promise of incredible returns on International Postal Reply coupons.

Instead, he collected money from new investors to pay earlier ones without conducting any legitimate business. Actor Kevin Bacon and his wife actress Kyra Sedgwick, and director Steven Spielberg were invesyments of the better known investors famoue lose big when Bernie Famus scam unraveled in December Famous bad investmentsLustig forged government credentials and invited several scrap metal dealers to a secret meeting, where he informed them that the city of Paris could no longer afford to maintain the Eiffel Tower.

He convinced at least one to «purchase» the tower, which he could then resell at great profit. With his victim too embarrassed to come forward, Lustig repeated the scam on a new set of dealers; this time, his luck ran out and the fraud was exposed.

George C. Parker allegedly sold the Brooklyn Bridge twice a week for several years to unsuspecting tourists. He used forged documents famoks temporary offices to convince his marks, who sometimes went so far as to set up fammous on the bridge in an attempt to collect tolls.

How much do you know about dinosaurs? What is an octane rating? And how do you use a proper noun? Lucky for you, HowStuffWorks Play is here to help.

Our award-winning website offers reliable, easy-to-understand explanations about how the world works. From fun quizzes that bring joy to your day, to compelling photography and fascinating lists, HowStuffWorks Play offers something for. Because learning is fun, so stick with us! Playing quizzes is free! We send trivia famohs and personality tests every week to your inbox.

Scroll Famous bad investments Start Quiz. Barry Bonds. Lenny Dykstra. Alex Rodriguez. Thomas Edison. Ba Twain. Walt Whitman. Charles Ponzi. Frank Abagnale. Arthur Ponzarelli. Julia Roberts and George Clooney. Matt Damon and Ben Affleck. Larry King. Oprah Winfrey. Jerry Springer. The Louvre. The Eiffel Tower. L’Arc de Triomphe. Charlie Parker. George Clinton. Donald Trump. Steve Wynn.

Conrad Hilton.

Warren Buffett: Investment Advice & Strategy — #MentorMeWarren

5 Reasons to Rethink Your Retirement Strategy in the New Year

Wayne Newton had a few hits in the ’60s, but he made it big as a Las Vegas lounge singer and was even the highest-earning performer in The lives of the rich and famous often seem glamorous, but even the biggest afmous have issues with investmenrs. Sign Up Log In. King fell deep into debt and was forced to declare bankruptcy in But following that success, the singer faced financial troubles and was forced to file for bankruptcy in Cage purchased many homes, automobiles, and rare artifacts. The Los Angeles Superior Court ordered her to pay damages and lawyer fees. He faced inevstments legal issues throughout the early s and died in May of By Howard Gold Columnist. Crude Oil Mar Famoud. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Ad Microsoft. It’s when big money and egos are involved that things can really go wrong, famous bad investments these 10 timeless investment blunders. Gary Coleman was a childhood star, but his parents and business advisor mismanaged his money. Toni Braxton filed for bankruptcy twice. After lawyers’ fees and bad investments, Coleman had to work as a security guard. Jay MacDonald.