Pop culture information isn't quick on tales about celebrities going bust, or a minimum of dropping primary chunks of their fortunes due to complaints, embezzlement, or simply simple incompetence. Whether it used to be unhealthy business or poor spending behavior, some of the largest names in the inside track lost major bank in 2022.
While maximum on this record went broke, they did undergo major monetary setbacks that yr. From Bill Cosby's loss in a civil go well with to Elon Musk's $44 billion splurge on Twitter, 2022 was once no longer a great economic time for these Eight celebrities.
9 Bill Cosby
Although Cosby was launched from jail on a technicality, he remains a pariah for drugging and sexually assaulting a number of dozen girls. One of those ladies didn't take Cosby's early liberate in silence. A court docket ruled in June 2022 that Cosby owed one of his victims $500,000 for an attack that took place on the Playboy Mansion in 1975 when she was once simply 16 years old. In December 2023, Cosby introduced he can be touring for the first time in several years. $500,000 isn't a lot for a guy price thousands and thousands like Cosby, however more of his accusers are getting ready similar proceedings, and stay in mind, Cosby has 60 recognized accusers. That is going so as to add up.
8 Donald Trump (Allegedly)
The ousted President's funds are a bit of a mystery, he has been accused of some shady deals and proof means that he has been lying about his belongings (both over and underestimating them) to avoid taxes or to side-step trade regulations. According to one of Trump's accounts, via 2022, Trump had lost over $900 million over two years. Trump, reportedly, is still value around $Three billion, with his main asset being Truth Social, his famously glitchy Twitter choice for his supporters. Truth Social makes up roughly $seven hundred million of Trump Media's assets.
7 Amber Heard
Heard was sued by her ex-husband Johnny Depp in 2022 for defamation regarding an op-ed she wrote with the ACLU for the Washington Post, accusing Depp of sexual attack. By the time the object came out, she additionally accused Depp of domestic violence. The jury sided with Depp, and Heard was once ordered by the courtroom to pay Depp $10 million. The jury did however side with Heard on one price of her counter go well with, ordering Depp to pay $2 million. Heard now owes Depp approximately $8 million, she has lost all appeals and has no selection however to pay the overall amount. She declared bankruptcy in July 2022.
6 Kanye West
West was once driving top as one of the few billionaire rap moguls, akin to Jay-Z and Beyoncé. But after stalking his ex, Kim Kardashian, for most of 2021, and intimidating her then-boyfriend Pete Davidson, West went off the deep finish in 2022. West got here out as blatantly anti-Semitic in a series of interviews, even going as far as to praise Adolf Hitler and Nazi Germany. The backlash was swift.
West lost his deals with GAP and Adidas, and therefore quickly lost his billionaire status. He failed to lobby Sketchers to take him on as a partner and hundreds of thousands of fanatics have begun to abandon the rapper. If that were not sufficient, Kanye lost his custody struggle with Kim and can now pay her $200,000 a month in child make stronger.
5 Michael Jordan
2022 was a horrible 12 months for crypto-currency. After a long upward boom, all the marketplace went bust in the summer time of 2022. Before the bust, dozens of celebrities were praising crypto as the future of investing. Also, dozens of stars started to take a position in NFTs, including Paris Hilton and Snoop Dogg. Among the various traders in the NFT marketplace was ball player Michael Jordan. Jordan's "Six Rings" NFT assortment briefly lost value after the buying and selling site FTX collapsed. By the end of 2022, the value of his NFTs fell by 90%. Ouch.
4 Justin Bieber
The fall of crypto and FTX affected every investor, together with the million-dollar ones. Model and pop big name Justin Bieber was once one of the other many celebrities to cash in on NFTs, but he didn't cash out quickly enough. Bieber's property used to incorporate an NFT from the notorious Bored Ape Yacht Club collections reportedly worth $1.Three million. After the collapse of FTX, that NFT is barely $70,000. The most useful NFT in that collection was once simplest worth $75,000 as of November 2022.
3 Stephen Curry
(*9*)Once again, crypto claims some other superstar's pockets. NBA champ Stephen Curry were given into the crypto market like many different sports activities stars did, taking a substantial stake in FTX in 2021. The amount is unknown however the crypto news web page beincrypto.com, predicts that Curry's losses will probably be "substantial." It will also most probably have an effect on Curry's charity, Eat.Learn.Play., which was to receive funding from FTX earnings as section of his partnership with the company.
2 Tom Brady
Another sports famous person to invest in the crypto marketplace, NFL champ Tom Brady was once no longer just invested in FTX, he was once their ambassador and his then-wife Gisele Bundchen was once serving as FTX's marketing consultant of "Environmental and Social Initiatives." Both had a stake of $650 million in the company, which is basically simply gone now that FTX collapsed. Brady is likely to lose much more money over the following few years now that he has begun divorce court cases with Bundchen. The pair introduced their divorce in October 2022.
1 Elon Musk
But the most important financial loser of 2022 is the (former) richest man in the sector, ironically. Tech multi-millionaire and Tesla CEO Elon Musk lost approximately $2 hundred billion in 2022. After spending $Forty four billion on Twitter, he then proceeded to run the company so poorly that it drove hundreds of thousands of users to hand over the app, including some of its post popular pages. It also pressured out more than part of Twitter's personnel. What ensued was a sequence of even worse business moves, he started charging for verified accounts which resulted in a wave of false data and imposter accounts, he fired the janitorial workforce at Twitter, he tried locking out staff after they wouldn't adhere to his ridiculous demands. The record just goes on and on and gets worse and worse from there.
Also, many Tesla buyers began to fret that Musk was once striking an excessive amount of attention on running Twitter and no longer sufficient on his different corporations. The large backlash he received created a lack of accept as true with in his different manufacturers and certain enough, Tesla's inventory price tanked. Also, a lawsuit was filed in 2022 by former Tesla investors who say that Musk's nefarious practices and misrepresentation of the inventory costs cost them dearly. If discovered in charge, Tesla and Musk will have to pay out billions to those traders.
One more thing, that $200 billion loss previously discussed? Yeah, that led to Musk to lose his standing as the sector's richest guy, the name now belongs to Bernard Arnault, a style wealthy person reported to be price $164 billion by Investopedia. Musk is the first individual in historical past to lose $200 billion, which means he's, very literally, the biggest financial loser in history. Calm down Musk stans, that isn't a jab at Elon, it's only a undeniable, simple, unavoidable truth.
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