Econ4U: Celebrity Financial Mistakes

Comments: See if you can match the celebrity with the mistake:

  • Mike Tyson (also has a biting issue!)
  • Willie Nelson (this one is easy!)
  • Michael Jackson (he also has the problem of the nose that falls of!
  • M.C. Hammer
  • Ed McMahon ("Heeeeeeeeeeeeeeere's Johnny!")
  • Dorothy Hamill
  • Britney Spears
  • Barron Hilton

Celebrity Financial Mistakes


Since the dawn of Hollywood, financial illiteracy has caused dramatic falls for some of America’s wealthiest and most famous names. But even as certain celebrities’ net worths tumble, their mistakes remain valuable – as lessons. ...

[the list]

  1. Poor Financial Planning
  2. Bankruptcy
  3. Money Hungry Relatives
  4. Bad Investments
  5. Tax Evasion
  6. Big Spending
  7. Foreclosure
  8. Loans and Credit Card Debt


  1. Lol, I still chuckle about Ed McMahon almost losing his house because he couldn't pay the mortgage. I have no idea, but I'm guessing he's made millions over the years. Didn't Trump come in and do a personal bailout for him? I just remember this as being sort of a funny story.

  2. What was so strange about this story is that this just happened recently, many years after Ed first became a celebrity. I could understand more if he was nouveau riche and just acquired wealth in the last 6 months, but like the previous post, I'm guessing that Mr. McMahon has made many millions throughout his life. What was so odd about this story is that all of a sudden now he is having mortgage problems. Poor guy, I actually sort of feel sorry for him. I hope it works out for him. I wonder if he made some very terrible investments over the years that caused him to have money problems. How else could a person with his income potential have these sort of financial difficulties?


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