Black Actresses Who Lost Fortunes

Hollywood is often synonymous with immense wealth and glamorous lifestyles that seem untouchable to the average person. However, the entertainment industry is notoriously volatile and can lead to financial ruin just as quickly as it grants riches. Many talented Black actresses have faced severe economic hardships due to predatory contracts or personal mismanagement. Systemic pay disparities and legal battles have also played a significant role in draining bank accounts. The following women experienced major financial setbacks despite their fame and talent.

Toni Braxton

This Grammy-winning singer and actress faced public financial scrutiny after filing for bankruptcy twice. She first filed in 1998 due to a restrictive recording contract that paid her very little despite millions of album sales. Braxton filed again in 2010 after canceling her Las Vegas residency because of health issues related to microvascular angina. She admitted that an addiction to lavish home goods and decor contributed to her money troubles. The star has since rebuilt her wealth through reality television and touring.

Dionne Warwick

The legendary singer and television host enjoyed a career spanning decades with massive international success. She found herself in deep financial trouble in 2013 when she filed for Chapter 7 bankruptcy. Reports indicated that Warwick owed nearly ten million dollars in back taxes to the IRS and the state of California. She attributed the mismanagement of her business affairs to a negligent financial team. Warwick worked tirelessly in her later years to settle her debts and restore her standing.

Mary J. Blige

Known as the Queen of Hip-Hop Soul, this singer and actress faced a grueling financial battle during her divorce from Kendu Isaacs. Blige revealed that she was supporting her unemployed husband with significant spousal support payments while owing millions to the IRS. She claimed Isaacs spent substantial amounts of her money on his girlfriend during their marriage. The star of ‘Mudbound’ had to tour relentlessly to pay off the tax liens and legal fees. Her candidness about the situation highlighted the dangers of mixing marriage with management.

Tisha Campbell

The star of ‘Martin’ and ‘My Wife and Kids’ shocked fans when she and her then-husband Duane Martin filed for bankruptcy in 2016. They reported over fifteen million dollars in debt with only a fraction of that amount in assets. The legal proceedings revealed complex issues regarding hidden money and bad loans. Campbell eventually filed for divorce and had to rebuild her finances as a single mother. She has since taken on numerous hosting gigs and acting roles to regain stability.

Fantasia Barrino

After winning ‘American Idol’ and starring in ‘The Color Purple’ on Broadway, this powerhouse vocalist faced the threat of foreclosure on her North Carolina mansion. Barrino struggled with the rapid pressure of fame and supporting her entire family. She faced lawsuits from creditors and navigated a suicide attempt during her darkest financial period. The singer eventually lost the home but credited the experience with teaching her fiscal responsibility. She has since bounced back with acclaim for her role in the 2023 film adaptation of ‘The Color Purple’.

Lauryn Hill

The former Fugees member and actress experienced a dramatic fall from financial grace due to tax evasion. Hill served a three-month prison sentence in 2013 for failing to pay taxes on earnings of nearly two million dollars. She stopped releasing music and touring for years which dried up her income streams. The artist claimed she withdrew from society to protect herself and her children from the toxicity of the industry. She now tours sporadically to maintain her finances.

Lil’ Kim

This rap icon and actress filed for Chapter 13 bankruptcy in 2018 to save her New Jersey mansion from foreclosure. Court documents revealed that she owed significant back taxes and unpaid legal bills totaling millions. Her bankruptcy plan was initially rejected by a judge for being unfeasible. She eventually sold the home at auction to settle some of the debt. Kim continues to perform and appear on reality television to generate revenue.

Da Brat

The first female solo rapper to go platinum faced financial ruin following a legal judgment in 2000. She was ordered to pay over six million dollars to a cheerleader she assaulted in a nightclub. The judgment swelled with interest while she served prison time for the incident. Da Brat filed for bankruptcy in 2018 to protect her assets from being seized by the plaintiff. She has since found steady work on radio and television to manage her finances.

Stacey Dash

The ‘Clueless’ star has faced intermittent financial struggles following her departure from mainstream Hollywood. Dash claimed indigence during her divorce proceedings and stated she had virtually no income at the time. Her controversial political shifts alienated many fans and limited her casting opportunities in black Hollywood productions. She relied on sporadic appearances and political commentary gigs that eventually dried up. Dash has recently attempted to return to acting to support her family.

Mo’Nique

This Oscar-winning actress sued Netflix for racial and gender discrimination regarding a lowball comedy special offer. She claimed that being blackballed by powerful industry figures like Lee Daniels and Oprah Winfrey cost her millions in potential earnings. The actress refused to play the Hollywood game and saw her offers evaporate for years. She and her husband downsized their lifestyle to survive the dry spell without compromising her integrity. Mo’Nique eventually settled with Netflix for an undisclosed sum and returned to the screen.

Dorothy Dandridge

The first Black actress nominated for a Best Actress Academy Award faced financial ruin due to bad investments. Dandridge was defrauded by people she trusted to manage her money while she focused on her career. By the time of her death, she had less than three dollars in her bank account. The pressure of maintaining her stardom while facing segregation limited her earning potential significantly. She was in the process of reviving her career as a nightclub singer when she passed away.

Ethel Waters

This pioneering actress and singer was once the highest-paid Black performer on Broadway. However, her immense wealth dwindled due to her generosity and the lack of long-term financial planning. Waters spent freely on friends and religious organizations without securing her own future. She lived in poverty in her later years before finding spiritual solace with the Billy Graham Crusade. Her financial decline stood in stark contrast to her earlier groundbreaking success.

Hattie McDaniel

The first African American to win an Oscar died with significant debts and a small estate. McDaniel faced a lack of roles after her historic win because the NAACP criticized the maids she played while white studios offered nothing else. Her health declined rapidly which led to medical bills that drained her resources. A final estate sale of her possessions was held to pay off creditors. Her Oscar plaque went missing and remains one of Hollywood’s great mysteries.

La Toya Jackson

The middle Jackson sibling filed for bankruptcy during her marriage to Jack Gordon. She claimed Gordon was abusive and forced her into projects she did not want to do while controlling all her finances. Jackson left the marriage with nothing and had to rebuild her life from scratch. She lost lucrative contracts and family support during the years she was under his control. Jackson eventually regained her footing through reality television and books.

Nene Leakes

The breakout star of ‘The Real Housewives of Atlanta’ faced a massive tax lien from the IRS. Reports surfaced that she owed over eight hundred thousand dollars in back taxes for the year 2014. Leakes had to navigate this debt while dealing with the illness and eventual death of her husband Gregg. She expanded her business ventures to include a lounge and clothing line to generate cash. Leakes continues to handle legal battles regarding her time on the Bravo network.

Maia Campbell

The star of ‘In the House’ lost her fortune and career due to severe mental health struggles and addiction. Campbell was filmed on the streets looking disheveled and asking for money which shocked fans of the sitcom. Her bipolar disorder went untreated for years after she stopped taking medication. She lost custody of her daughter and drifted into homelessness for a period. Campbell has had stints of sobriety but struggles to maintain the wealth she once had.

Lark Voorhies

Best known as Lisa Turtle on ‘Saved by the Bell’, Voorhies faced financial and personal struggles post-stardom. Her mother revealed that the actress battles bipolar disorder which has affected her ability to work consistently. Voorhies published books that were criticized for being incoherent which further damaged her professional reputation. She lives a quiet life and is reportedly supported by family and residuals. Her absence from the initial reboot of the show highlighted her disconnection from the industry.

LisaRaye McCoy

The actress known for ‘The Players Club’ served as the First Lady of Turks and Caicos before a messy divorce. She claimed her ex-husband Michael Misick misappropriated funds and cut her off financially. McCoy had to return to the United States and restart her acting career to support herself. She spoke openly about the difficulty of downsizing from a life of political luxury. McCoy now works consistently in television and radio.

Towanda Braxton

Following in her sister’s footsteps, Towanda filed for Chapter 7 bankruptcy in 2019. She listed over half a million dollars in debt with very little monthly income and zero savings. Her debts included a substantial amount owed to her sister Tamar Braxton for personal loans. The bankruptcy filing revealed the financial instability that plagued the reality TV family. She has since used her platform to launch skincare products.

Trina Braxton

The third Braxton sister also faced significant money troubles during her time on reality television. She faced foreclosure on her home and struggled with business debts related to a bar she opened. Her financial issues were compounded by a divorce from a husband who was also her business partner. Trina worked hard to rebrand herself and open new ventures. She successfully leveraged the family’s fame to regain stability.

Mel B

The Spice Girl and actress claimed to be down to her last thousand dollars during her divorce from Stephen Belafonte. She alleged that her ex-husband controlled her finances and made bad investments that wiped out her fortune. Mel B had to move back in with her mother in England to get back on her feet. The legal battle revealed that she had spent nearly fifty million dollars during the marriage. She has since rebuilt her wealth through touring and television judging roles.

Sherri Shepherd

The comedian and actress faced a draining legal battle regarding a child born via surrogate. A judge ordered her to pay child support for a baby she tried to disavow during her divorce. The legal fees and ongoing payments cost her a significant portion of her savings. Shepherd also dealt with the cancellation of her talk show which reduced her income. She worked relentlessly on the stand-up circuit to recover financially.

Nina Simone

The High Priestess of Soul faced tax troubles that forced her to live as an expatriate. Simone refused to pay taxes as a protest against the Vietnam War and racial injustice in America. She lost access to her royalties and had to perform constantly in Europe to survive. Her finances were often in disarray due to her mental health battles and volatile relationships. Simone died in France without the massive fortune her legacy warranted.

Billie Holiday

One of the greatest jazz singers of all time died with only seventy cents in the bank. Holiday battled heroin addiction which drained her earnings and led to legal troubles. She was defrauded by managers and husbands who took advantage of her vulnerability. In her final days, she was arrested on her deathbed for drug possession. Her estate was minimal despite the enduring value of her recordings.

Eartha Kitt

The ‘Batman’ actress was blacklisted by the government after making anti-war comments at a White House luncheon. For nearly a decade, she was unable to find work in the United States and lost her primary source of income. Kitt had to tour extensively in Europe to maintain her livelihood. The CIA dossier on her made it impossible for studios to hire her during her prime. She eventually made a triumphant return to Broadway and animation voice work.

Countess Vaughn

The star of ‘The Parkers’ and ‘Moesha’ has dealt with tax liens and financial instability. Vaughn settled a significant debt with the IRS after years of non-payment. Her reality television appearances revealed struggles with maintaining the lifestyle she achieved as a child star. She also faced health issues related to lace front glue and thyroid problems that impacted her work. Vaughn continues to work on rebuilding her brand.

Shar Jackson

The actress and mother of two of Kevin Federline’s children faced financial dips after their high-profile breakup. She stepped away from acting to raise her family and saw her income decline. Jackson appeared on reality shows like ‘Celebrity Fit Club’ to generate paychecks. She has dealt with the challenges of being a single mother in Hollywood without a steady sitcom role. Jackson remains a beloved figure but operates on a smaller financial scale.

Please share your favorite performances by these resilient women in the comments.