Young Actors Who Lost Fortunes

The entertainment industry often showers young talent with immense wealth before they have the maturity to manage it properly. Many male actors who achieved fame early in life faced severe financial ruin due to mismanagement or predatory guardians. Legal battles and personal struggles frequently drained the bank accounts of these promising stars. This list explores the stories of men who earned millions during their youth but saw those fortunes vanish.

Jackie Coogan

Coogan became the first major child star in history after starring in ‘The Kid’ alongside Charlie Chaplin. He earned approximately four million dollars during his childhood which would be worth exponentially more today. His mother and stepfather recklessly spent almost his entire fortune on luxuries before he turned twenty-one. His legal battle against them led to the creation of the Coogan Act to protect the earnings of future child performers.

Gary Coleman

Coleman became a household name and one of the highest-paid actors on television through his role in ‘Diff’rent Strokes’. He sued his parents and business manager for misappropriating his trust fund and assets. The court awarded him a significant settlement but legal fees and ongoing health issues depleted his finances. He eventually filed for bankruptcy and worked as a security guard to make ends meet.

Corey Haim

Haim was a teenage icon in the 1980s with roles in hits like ‘The Lost Boys’ and ‘Lucas’. His career momentum slowed significantly as he battled severe drug addiction that drained his financial resources. He filed for Chapter 11 bankruptcy protection later in life after accruing substantial medical and tax debts. His struggle highlights the difficulty young stars often face when transitioning to adult careers.

Dustin Diamond

Diamond achieved fame playing the character Screech Powers in the popular series ‘Saved by the Bell’. He faced typecasting after the show ended and struggled to find consistent acting work as an adult. He encountered significant financial trouble and faced foreclosure on his home due to mortgage arrears. He appeared on reality television and released a controversial tape in attempts to generate income.

Willie Aames

Aames earned fame and fortune playing Tommy Bradford in ‘Eight Is Enough’ and Buddy Lembeck in ‘Charles in Charge’. He later lost everything due to a combination of bad investments and a struggle with substance abuse. The actor found himself homeless for a period and slept under park bushes. He eventually rebuilt his life by taking work as a cruise ship director and financial advisor.

Danny Bonaduce

Bonaduce rose to stardom as the wise-cracking Danny Partridge in the musical sitcom ‘The Partridge Family’. His post-show life was marred by drug addiction and homelessness as his acting funds ran dry. He lived in his car for a time while struggling to find his footing in the entertainment industry. He later found financial stability through a successful career in radio broadcasting and reality television.

Drake Bell

Bell became a teen idol through the Nickelodeon hit ‘Drake & Josh’ and enjoyed a successful music career. He filed for bankruptcy in 2014 and claimed to be hundreds of thousands of dollars in debt. His filings revealed that his monthly expenses far outweighed his income at the time. The actor has since continued to work in music and voice acting to rebuild his standing.

Joey Lawrence

Lawrence was a heartthrob known for ‘Blossom’ and later starred in ‘Melissa & Joey’. He filed for bankruptcy in 2017 after accumulating debt that exceeded his assets. His financial disclosure showed that excessive spending and declining income contributed to the situation. He has continued to work steadily in television movies to manage his financial obligations.

Aaron Carter

Carter gained massive success as a child pop star and actor appearing in shows like ‘Lizzie McGuire’. He faced numerous legal and financial battles including a bankruptcy filing in 2013 to discharge millions in debt. Most of his liability came from unpaid taxes owed from his peak earning years as a minor. His financial instability plagued him until his tragic passing.

Edward Furlong

Furlong made a massive splash with his debut role in ‘Terminator 2: Judgment Day’. His promising career was derailed by severe substance abuse issues and legal troubles. He spent most of his earnings on addiction and legal defense fees over the years. The actor has recently worked toward sobriety and returning to the screen after facing near-total financial ruin.

Leif Garrett

Garrett was a massive teen idol in the 1970s known for both his music and acting roles. His transition to adulthood was difficult and marked by a costly legal settlement from a car accident. Drug addiction further drained his resources and led to him filing for bankruptcy. He has spoken openly about how easily young stars can lose their way and their wealth.

Todd Bridges

Bridges starred alongside Gary Coleman in ‘Diff’rent Strokes’ but faced a turbulent life after the show. He battled a severe crack cocaine addiction that consumed his earnings and led to legal issues. He was arrested multiple times and faced a trial for attempted murder before being acquitted. He eventually overcame his addiction and rebuilt his life after losing his childhood fortune.

David Cassidy

Cassidy was one of the biggest stars of the 1970s thanks to his role in ‘The Partridge Family’. Despite selling out stadiums worldwide he claimed he was cheated out of millions in merchandising royalties. He filed for bankruptcy later in life and auctioned off his home and assets. His final years were marred by health struggles and financial instability.

Mickey Rooney

Rooney had one of the longest careers in Hollywood history and earned millions over several decades. He testified before Congress that he suffered elder abuse and financial mismanagement at the hands of his stepson. He died with a relatively small estate despite his massive lifetime earnings. His situation shed light on the financial vulnerability of aging stars.

Shaun Weiss

Weiss is best known for playing the goalie Goldberg in ‘The Mighty Ducks’ film franchise. He fell into a deep spiral of methamphetamine addiction that led to homelessness and multiple arrests. His mugshots revealed a drastic physical deterioration that shocked fans of the films. He has since entered recovery and received dental implants to repair the damage from his difficult years.

Orlando Brown

Brown starred in ‘That’s So Raven’ and was a prominent figure on the Disney Channel. He faced a series of highly publicized arrests and struggles with mental health and addiction. His friends and fans expressed concern as he appeared homeless and disoriented in various videos. He has been in and out of treatment facilities while attempting to stabilize his life.

Taran Noah Smith

Smith played the youngest son Mark Taylor on the hit sitcom ‘Home Improvement’ for eight seasons. He sued his parents for control of his trust fund when he turned eighteen and alleged mismanagement. He later lost a significant portion of his money in bad business ventures and a divorce. He eventually reconciled with his mother and moved away from the entertainment industry.

Adam Rich

Rich was known as “America’s Little Brother” for his role as Nicholas Bradford in ‘Eight Is Enough’. He struggled with substance abuse and legal issues that depleted his earnings after the show ended. He once participated in a hoax regarding his own death to gain publicity. He lived a modest life in his later years before passing away.

Bobby Driscoll

Driscoll was the voice of Peter Pan and a star of ‘Song of the South’ for Disney. The studio released him from his contract when he reached puberty and suffered from severe acne. He turned to narcotics and his life spiraled into poverty and crime in New York City. He died penniless and unidentified in an abandoned building at the age of thirty-one.

Jeremy Jackson

Jackson played Hobie Buchannon on the massive global hit ‘Baywatch’ for several years. He left the show due to a drug problem that consumed his finances and led to legal trouble. He famously appeared on ‘Celebrity Rehab with Dr. Drew’ to address his addiction issues. He has since worked as a personal trainer and fitness model to earn a living.

Stephen Baldwin

Baldwin is the youngest of the famous acting brothers and appeared in films like ‘The Usual Suspects’. He filed for bankruptcy in 2009 with millions of dollars in debt including unpaid taxes. His home was foreclosed upon and he faced probation for tax evasion. He has continued to work in faith-based films to manage his financial situation.

Mekhi Phifer

Phifer starred in ‘ER’ and ‘8 Mile’ but filed for bankruptcy in 2014. He claimed roughly sixty thousand dollars in assets against over a million dollars in debt. The majority of his debt was owed to the IRS for back taxes. He has managed to continue his acting career without further public financial scandals.

Tom Sizemore

Sizemore was a prominent actor in the 1990s with roles in ‘Saving Private Ryan’ and ‘Heat’. His career and finances were ruined by extreme drug addiction and numerous legal battles. He filed for bankruptcy and owed millions to creditors and the IRS. He wrote a memoir detailing his fall from grace and financial destitution.

Gary Busey

Busey was an Academy Award nominee for ‘The Buddy Holly Story’ before facing financial ruin. He filed for Chapter 7 bankruptcy in 2012 with liabilities outweighing his assets. He listed debts to the IRS and various lawyers among his financial burdens. He continues to appear in reality television and films to support himself.

Lorenzo Lamas

Lamas was a soap opera star and action hero known for ‘Falcon Crest’ and ‘Renegade’. He has filed for bankruptcy multiple times throughout his career due to debts and divorce settlements. At one point he worked as a helicopter tour pilot to supplement his income. He has been open about his financial struggles and the fickle nature of fame.

Burt Ward

Ward played Robin in the iconic 1960s ‘Batman’ television series alongside Adam West. He struggled to find work after the show due to typecasting and faced serious financial hardship. He reported that he had to sell sketches to fans at conventions just to buy food. He eventually found success running a dog food company and rescue organization.

Carl Switzer

Switzer played Alfalfa in the ‘Our Gang’ short films and was a recognizable child star. He struggled to find adult roles and worked as a bartender and hunting guide to survive. He was killed during an argument over fifty dollars he believed he was owed. His death marked a tragic end to a once-promising career.

Scotty Beckett

Beckett was a leading child actor in the ‘Our Gang’ series and films like ‘The Jolson Story’. His life unraveled due to alcoholism and drug addiction as he reached adulthood. He faced multiple arrests and was left with no money despite his early success. He died at age thirty-eight after a beating at a nursing home.

Columbus Short

Short was the star of the hit series ‘Scandal’ before his personal life caused his career to collapse. He was fired from the show following domestic violence allegations and substance abuse issues. He revealed in interviews that he had lost all his money due to legal fees and lack of work. He has attempted to rebuild his career through independent projects.

Nicolas Cage

Cage was one of the highest-paid actors in the world and earned over one hundred million dollars. He blew through his fortune on eccentric purchases like castles and dinosaur skulls. The IRS hit him with a massive tax lien that forced him to sell assets rapidly. He spent years appearing in numerous direct-to-video films to pay off his debts.

Chris Tucker

Tucker became the highest-paid actor in Hollywood following the success of the ‘Rush Hour’ franchise. He faced a massive financial setback when the IRS presented him with a bill for fourteen million dollars. His infrequent work schedule contributed to his inability to pay the mounting interest. He reached a settlement and returned to stand-up comedy to generate revenue.

Wesley Snipes

Snipes was a top action star in the 1990s known for the ‘Blade’ trilogy. He served prison time for failing to file tax returns on his substantial income. The legal battle and subsequent incarceration severely impacted his earning potential and finances. He has slowly returned to acting in ensemble action films.

Randy Quaid

Quaid is a Golden Globe winner known for roles in ‘Independence Day’ and ‘Kingpin’. He and his wife fled to Canada claiming there was a conspiracy to kill Hollywood actors. They lost their home and faced legal issues that drained their resources. The couple has lived a transient lifestyle while battling various legal authorities.

Brendan Fraser

Fraser was a massive box office draw with ‘The Mummy’ franchise but faced financial strain. A costly divorce settlement required him to pay significant alimony and child support. He petitioned the court to reduce payments citing a lack of income from acting roles. His recent career resurgence has helped stabilize his financial situation.

Please share which actor’s story surprised you the most in the comments.