Fame is a fickle master. Most wealthy celebrities waste their money assuming their earning capacity will stay endless to provide them with everything they want. Celebrities spend their money on luxurious properties combined with luxury cars, private jets, party lives, bad financial advice, and hangers-on yet the tax department alongside these factors can cause sudden loss of their wealth. Several famous actors from Hollywood have lost the ability to maintain their affluent lifestyle.
Nicolas Cage
It’s no surprise that Nic Cage is wasteful with money. He lost millions buying 15 homes across the world, including a German castle and two islands in the Bahamas. He’s also bought four yachts, a $150,000 Superman comic, two king cobras, a pet octopus, and a stolen dinosaur skull for $276,000.

At one point, he owed $14 million to the IRS, and his ex-wife sued him for $13 million! Nic’s career resurgence in films like Pig has helped him recover from his addiction to wasting money.