The music industry can make you filthy rich and famous or break you forever. For many, signing a record deal is a life’s dream that quickly turned into a nightmare for countless artists who failed to read the small print before signing their life and royalties away.
Here are ten multi-platinum artists who went broke. Take a look.
T-Boz, Left Eye & Chilli are one of the best-selling female groups in music history (65 million worldwide) who filed for bankruptcy after being swindled out of millions by their filthy ex-manager Pebbles.
The Baritone-voiced starlet sold over 20 million albums in her prime and filed for bankruptcy twice because of horrible financial decisions/a predatory record deal with LaFace.
Hammer was the first true Hip-Hop superstar who famously blew over $30 million on his 200-person entourage, lavish mansion and lifetime supply of shiny parachute pants.
The King of Pop signed a landmark record deal worth nearly a billi, sold a billion+ albums worldwide and (shockingly) filed for bankruptcy in 2007 after failing to pay back a $25 million loan on his Neverland Ranch.
The fertile trainwreck owes $1.24 million in child support for his 10 Kids (by 6 women) and recently admitted his brokeness after earning over $20 million during his career.
The beloved Soul icon filed for bankruptcy in 1976 after extravagant spending on cars, booger sugar and houses, coupled with a nasty divorce.
The Muppet-faced icon is the most successful female rapper of her era with THREE platinum albums and 15+ plastic surgeries gone wrong that lead to her filing for bankruptcy.
Everyone’s favorite Funk legend made pennies off his golden catalog because he didn’t own his publishing and was forced to file for bankruptcy in 1984.
Beans’ squandered his star potential with terrible spending habits, tax evasion and countless bad decisions that left him broke and jailed.
Widely considered one of the greatest songwriters/composers ever, he nearly lost everything after his record label folded.