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Our latest news on celebrities, sports, television, and other various sources.
Midnight Man
Celebrity That Lost A Fortune: Scott Storch
Scott Storch is an American record producer. He produces hip hop music through his label, Storch Music Company. He also has his own music production company called Tuff Jew Productions LLC which is published by Reservoir Media Management. He blew through $30 million in six months, and lost his Miami mansion, $20 million yacht and filed for bankruptcy and owed about $60 thousand to thirteen different creditors in seven states.

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Midnight Man
Celebrity That Lost A Fortune: Sheryl Swoopes
Sheryl Swoopes is a retired American professional basketball player and the head coach of the women's basketball team of Loyola University Chicago. She was the first player to be signed in the WNBA when it was created. Made around $50 million at the height of her career, but lost it all in devastatingly bad investments and bad business management. Eventually, she sold her Olympic medals and Naismith trophy to pay back creditors.

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Midnight Man
Celebrity That Lost A Fortune: Sinbad
Sinbad is an American stand-up comedian and actor, whose real name is David Adkins was featured on his own HBO specials and appeared on television series such as Necessary Roughness, Jingle All the Way, and Good Burger. In 2009, Sinbad decided to file for bankruptcy and then was forced to file for bankruptcy again in 2013. Sinbad claimed that he was not blowing his money on big and fancy cars, but instead invested a lot into himself and other people, and thought he did not make a mistake and would not change his choices for the world. At least he went down with dignity! The second time around, he owed around $11 million, $8 million in back taxes, but claims he didn't live outside of his means.

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Midnight Man
Celebrity That Lost A Fortune: Sly Stone
Sly Stone is an American musician, songwriter, and record producer, most famous for his role as front man for Sly and the Family Stone. In 1993, he was inducted into the Rock and Roll Hall of Fame as a member of the group. After decades of substance abuse and blingy high-living, he now lives in a van parked on a street in Crenshaw, South Central Los Angeles.

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Midnight Man
Celebrity That Lost A Fortune: Stephen Baldwin
Stephen Baldwin is an American actor, director, producer and author, who has starred in many films, and is the youngest out of all the Baldwin brothers. Since he is the youngest, he is definitely the most naïve. This rang true in 2009 when e was forced to file for Chapter 11 bankruptcy. Apparently he had so many debts that just kept piling up and pretty soon he owed millions. From mortgages, credit cards, and even back taxes, Stephen Baldwin definitely got himself into a great deal of financial trouble! In 2009, the baby of the Baldwin family hit rock bottom with debts around $2.3 million. The following year, he narrowly escaped jail for tax evasion.

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Midnight Man
Celebrity That Lost A Fortune: Teresa Giudice
Teresa Giudice is an American reality television cast-member, known for starring in The Real Housewives of New Jersey. She has also written three bestselling cookbooks that were even featured on Donald Trump’s show called The Celebrity Apprentice. It turns out Teresa was not as successful as she let on to be. Teresa began to overspend and brought her and her husband’s debt to over $13.5 million which landed Teresa time in jail.

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Midnight Man
Celebrity That Lost A Fortune: Tionne T-Boz Watkins
Tionne Watkins better known by her stage name T-Boz, is an American singer, songwriter, model, dancer, actress, author, and executive producer. This former TLC singer has lived on a financial rollercoaster. In 1995 she went so broke that she was forced to file for Chapter 11 bankruptcy and just a few years later she filed individually. In 2011 after she received medical treatment for a brain tumor and sickle cell anemia. Recently, she tried to file for debt again after all her medical problems caused her to go broke! The first time she filed for bankruptcy was in 1995, due to a famously short-shifting record deal. The second time was in 2011. By all accounts, the Grammy-winning artist was living a modest lifestyle, but she hadn’t been working much (according to court docs, she only pulled in $1200 a month in royalties), and had accrued crazy medical bills due to the brain tumor and the Sickle Cell Anemia. And then there was her ex, rapper Mack 10, who owed her $250,000 in back child support.

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Midnight Man
Celebrity That Lost A Fortune: Terrell Owens
Terrell Owens is an American football wide receiver who played 15 seasons in the National Football League, and holds or shares several National Football League records. By 2012, the mouthy wide receiver had blown through most of his entire $70 million fortune owing four different baby mama’s child support, upwards of $50,000 a month. A combination of bad investments, large child support payments, and trusting the wrong people have left him with very little to show for his time as a star player.

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Midnight Man
Celebrity That Lost A Fortune: Toni Braxton
Toni Braxton is an American R&B singer-songwriter, pianist, musician, record producer, actress, television personality, and philanthropist. She became one of the best-selling female artists in the 1990s. Her most popular songs are “You’re Makin’ Me High”, “Un-Break My Heart”, “Breathe Again”, “Another Sad Love Song”, and “He Wasn’t Man Enough”. Although quite successful, you would think Toni to be extremely rich because sold more than 40 million albums in her career. She filed for bankruptcy not once, but twice. She filed for bankruptcy in 1998 and then again in 2010. She charged her financial problems to a bum record deal and mismanagement. Braxton owed $3.9 million and filed for bankruptcy in 1998. She sold her household possessions, including her two Grammys, to pay off creditors.

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Midnight Man
Celebrity That Lost A Fortune: Ulysses S. Grant
Ulysses S. Grant was the 18th President of the United States and graduated in 1843 from the United States Military Academy at West Point. After leaving the office the President he settled down in New York and invested his money into a Wall Street firm. Unfortunately, one of the firm's partners wasn't very trustworthy and embezzled much of its investors' money, leading it to declare bankruptcy. Grant did the same soon after.

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