Oops: 15 Celebrities Who Went Bankrupt

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3. Meat Loaf

Even though this great musician and actor is equally talented in both worlds, having landed many a role in Hollywood movies, and having sold more than 43 million copies of his albums worldwide, this artist somehow let it all go south.

However, Meat Loaf’s tragic flaw wasn’t lavish lifestyle and overspending, but simply trusting the wrong people.

He was negligent and gullible enough to let his managers almost ruin him completely.

While he was at his prime as a rock star, Michael discovered that his managers were stealing from him excessively.

They even froze all of his assets and began spreading lies and negative rumors about the musician. He was eventually forced to declare bankruptcy on two occasions. In 1981 and then again in 1986 after his album “Blind Before I Stop” wasn’t as successful as he hoped.

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