Just because you’re rich & famous doesn’t make you immune to going broke or worse, bankrupt. Financial responsibility is something we preach on this site and it applies to everyone of all income levels and social statuses. We’ve all heard the stories of lottery winners who went broke after blowing all their winnings and not exercising fiscal responsibility. Now hear the stories of celebrities who made huge fortunes and wasted it all away.
Donald Trump still flaunts his money around to this day, which is incredible despite the fact that he has filed for bankruptcy a total of four times. Well after some creative accounting, Trump declared for corporate bankruptcy instead of personal. This allowed his company to be bailed out on multiple occasions while protecting his personal assets, which also allows him to keep spending. Could Trump have paid off his company’s debts with his own money? Probably. But taking a look at Trump, you wouldn’t think that he’d be one to give up his own wealth.