Famous people that died poor

[viljy]

Although I don't understand how it was possible to invest in such a project, because it was clear that this is an ordinary pyramid, in which the participants who invested first will be in the black. And those who are the last, when the pyramid bursts, they will find themselves in bad situation.

Because then almost no one from the population of this country even knew such a thing as a pyramid scheme. Absolutely no one knew or understood anything about economics. So the ending of this story is not surprising. By the way, there's a movie about that pyramid scheme and its creator. Most of all, the famous fraudster is remembered for the introduction of the term "mammoth" into colloquial speech, in the context of the phrase "a fool is not a mammoth - it will not die out" (approximate meaning).

[Floxynice]

One thing I have learnt from all these great men is that one can be very lucky or talented at making money, but unfortunately don't have that money management skill. Alot of people don't know that being able to manage the money you earn and multiplying it to produce more money is a skill on its own. It's too bad that this great men only lived for the present and never made good plans for the future.

Maybe some did make plans for the future by borrowing to fund their investments, then the unfortunate tragedy struck them. Being rich means having high income/purchasing power, it does not mean financial security/freedom. Proper planning and financial discipline can bring about generational wealth.

[Hammer_Summer]

One thing I have learnt from all these great men is that one can be very lucky or talented at making money, but unfortunately don't have that money management skill. Alot of people don't know that being able to manage the money you earn and multiplying it to produce more money is a skill on its own. It's too bad that this great men only lived for the present and never made good plans for the future.

Maybe some did make plans for the future by borrowing to fund their investments, then the unfortunate tragedy struck them. Being rich means having high income/purchasing power, it does not mean financial security/freedom. Proper planning and financial discipline can bring about generational wealth.

I have seen individuals with big pays and yet had nothing just because they did not have a clue on how to handle their earnings. Earning money and retaining money are two totally different artworks and majority of the people concentrate on the former. It is financial discipline that actually makes the difference whether in the short term wealth or long term stability. I also believe that what is actually freeing the people is the act of knowing how to invest wisely and live within one means since having money and not having control of it is purely an illusion of feeling rich.

[Floxynice]

One thing I have learnt from all these great men is that one can be very lucky or talented at making money, but unfortunately don't have that money management skill. Alot of people don't know that being able to manage the money you earn and multiplying it to produce more money is a skill on its own. It's too bad that this great men only lived for the present and never made good plans for the future.

Maybe some did make plans for the future by borrowing to fund their investments, then the unfortunate tragedy struck them. Being rich means having high income/purchasing power, it does not mean financial security/freedom. Proper planning and financial discipline can bring about generational wealth.

I have seen individuals with big pays and yet had nothing just because they did not have a clue on how to handle their earnings. Earning money and retaining money are two totally different artworks and majority of the people concentrate on the former. It is financial discipline that actually makes the difference whether in the short term wealth or long term stability. I also believe that what is actually freeing the people is the act of knowing how to invest wisely and live within one means since having money and not having control of it is purely an illusion of feeling rich.

Fame can indeed be deceptive. With all the fan love and support, one would think the money would still be coming in forever. Well some like Michael Jackson have the privilege of getting that steady revenue even in death.

Thank God for technological advancement, those who are really smart can actually make sure money doesn't stop flowing in for them. Like in the music industry now, musicians can still get paid till eternity as long as their songs are being streamed. It will be rare this present generation, getting these kinds of reports that once famous and rich people died poor and remained forgotten for ever.

[peter0425]

Maybe some did make plans for the future by borrowing to fund their investments, then the unfortunate tragedy struck them. Being rich means having high income/purchasing power, it does not mean financial security/freedom. Proper planning and financial discipline can bring about generational wealth.

I believe that having high income will mean financial security. It does not guarantee it because you might end up losing all your salary but at least you now have the capacity to make sure your money is safe. Which is the first step anyway. You have to have money to secure in the first place before you even try to find a way to secure it.

[coupable]

Take the example Nicola Tesla the famous scientist who contributed in developement of electricity and connectivity, but died poor alone in an hotel room.

I know this story, he should be credited for all of his work and I guess that Elon Musk's Tesla is one way of honoring his contribution in electric vehicles through his work about electricity.

Those initiatives are comsidered too late and even very poor to just honor the name of a genuis who helped humanity much more that he himself has expected. I wish people got aware of his situation at that time and help him overpass his crisis whatever its kind either financially or psychologically. There was a good chance that he could live more and continue his researches in various fields. There is no way to compare Tesla with Micheal Jackson or even Elon Musk himself.

[CageMabok]

...

I believe that having high income will mean financial security. It does not guarantee it because you might end up losing all your salary but at least you now have the capacity to make sure your money is safe. Which is the first step anyway. You have to have money to secure in the first place before you even try to find a way to secure it.

Everyone will certainly look for ways to secure their money once they have it, and this also applies to those who already own Bitcoin. Some people will certainly look for ways to store Bitcoin safely after purchasing it, although some will also research this before owning Bitcoin. But when it comes to money, of course, most people will learn about security after they have money in their pockets or wallets.

And regarding having a high income, that's geared towards businesses and jobs that can generate consistent income without interruption, so it only guarantees income, not security. Because security is an absolute requirement that applies to something specific, like assets or money, as we're discussing now.

[Floxynice]

...

I believe that having high income will mean financial security. It does not guarantee it because you might end up losing all your salary but at least you now have the capacity to make sure your money is safe. Which is the first step anyway. You have to have money to secure in the first place before you even try to find a way to secure it.

Everyone will certainly look for ways to secure their money once they have it, and this also applies to those who already own Bitcoin. Some people will certainly look for ways to store Bitcoin safely after purchasing it, although some will also research this before owning Bitcoin. But when it comes to money, of course, most people will learn about security after they have money in their pockets or wallets.

And regarding having a high income, that's geared towards businesses and jobs that can generate consistent income without interruption, so it only guarantees income, not security. Because security is an absolute requirement that applies to something specific, like assets or money, as we're discussing now.

Alot has changed now and we should be grateful for that. There are lots of opportunities to acquire assets and ensure consistent income inflows. There is really no excuse one can give for being rich and dying poor like these legends. Lots of people are taking advantage of bitcoin now and every other investment they can lay hands on. Only an unserious person will have excuses to give.

[White pawn]

1. Wolfgang Amadeus Mozart lived shortly from 1756 to 1791. He was considered to be one of the most celebrated composers as he toured Europe as a kid to showcase his talent and allowed him to make up quite a fortune. However he had a problem with gambling and he also avoided certain jobs that led him to having massive debt. He was buried in a common grave due to poverty.



2. Thomas Jefferson was the third President of the United States. He had a wonderful career but couldn't control his spending and passed away with massive debts as well. A lot of his property was sold to pay off his debts.



3. Michael Jackson was called King of Pop and unfortunately passed away in 2009. His songs remain to be culturally relevant however at the time of his passing he passed away with around 500 million dollars of debt. Due to this, many of his assets were sold to pay for his debts.

The lesson I got from looking at all these influential people is you can be exceptional in your field but if you do not know how to manage your money you might just die penniless. I personally do not want to pass away after suffering from poverty. I want my last days to be spent in bliss.

There are other people in the list but I only chose three.

Elvis Presley _Despite being one of the best selling artists of all time, Elvis's estate was nearly bankrupt at the time of his death due to poor management and excessive spending.
Jimi Hendrix _the legendary musician died with very little assets and his estates took years to manage and generate significant income

Highlighting the importance of financial management
Effective financial management is crucial for achieving financial stability, security at freedom...and here are some key aspects of financial management
1.Budgeting_creating and sticking to a budget helps to track income and expenses.

saving _Building an emergency fund and saving for long-term goals provides a safety net and helps achieve financial objectives

3.Investing_investing wisely can also help grow wealth over time ,but it's Essential to understand risk tolerance, diversification and investment options.

4.Debt management _Managing debt effectively involves understanding interest rates,creating a debt repayment plan and avoiding high interest debt.

5.Financial planning _setting clear financial goals,such as retirement or buying a home,helps guide financial decisions and ensures progress towards achieving those goals.


By mastering these aspects of financial management, individuals can be able to reduce financial stress and also have increase financial freedom.

[bubilas]

One thing I have learnt from all these great men is that one can be very lucky or talented at making money, but unfortunately don't have that money management skill. Alot of people don't know that being able to manage the money you earn and multiplying it to produce more money is a skill on its own. It's too bad that this great men only lived for the present and never made good plans for the future.

Maybe some did make plans for the future by borrowing to fund their investments, then the unfortunate tragedy struck them. Being rich means having high income/purchasing power, it does not mean financial security/freedom. Proper planning and financial discipline can bring about generational wealth.

It's just that most of us are subject to the stereotype that rich or famous people are always smart people.
But in reality, artists, singers, athletes, or movie stars are often just people who can do one skill well, but their horizons are even smaller than the average person.
For example, people often end up in the cinema by accident, because someone liked their appearance. And at the same time, due to their artistry. These people provide for their lives and they do not need to know: how many planets are in the solar system, or what is the chemical formula of water, they just live, it turns out, their money, and often do not know how to manage it. They are not economists or traders.

[shield132]

We had a very locally famous person who died very poor and he is a national hero and he was even labelled as a saint. His name was Ekvtime Takaishvili. He devoted his life to buying, collecting and protecting the Georgian national treasury. The wealth that he was holding, had an enormous price but he wanted to save it for Georgians and he was living in poverty his whole life, even with thousands of treasury, he didn't even sell one item when just one sale could change his life and no one would notice or judge him for this but no, he sacrificed his life to restore the Georgian National Treasury and cultural artifacts.

[r_victory]

I saw a movie about Tesla, and in it, he is portrayed as someone who was detached from money, much of what he earned went to fund his own experiments. I didn't see him on the list, but Elvis Presley also serves as an example. He didn't die broke, but he had much less money than people thought, and he was a worldwide success who earned a lot of money throughout his career.

[kotajikikox]

It's just that most of us are subject to the stereotype that rich or famous people are always smart people.
But in reality, artists, singers, athletes, or movie stars are often just people who can do one skill well, but their horizons are even smaller than the average person.

Honestly a lot of rich people just got lucky too. I am more talking about the ones who got rich from being a celebrity. A lot of them don’t even have actual talent to begin with. It’s often a running advice in the show business that fame is not forever so you really should be wise with the money you receive and don’t spend it on lavish lifestyle just for it to disappear when you need it the most.

[Versatile_choice]

3. Michael Jackson was called King of Pop and unfortunately passed away in 2009. His songs remain to be culturally relevant however at the time of his passing he passed away with around 500 million dollars of debt. Due to this, many of his assets were sold to pay for his debts.

You're right, but talking about Micheal Jackson did you think all his assets everything is only Worth this $500 million you mentioned here? I will doubt it if you Said that he left without keeping any single asset for his child or his love ones. And yeah, the advice you gave here is indeed a very nice one I most say, because there are some wealthy people that don't know how to manage thier money very. There are some people who are earning millions yet they don't make any difference if you see most of this people you won't believe that they're earning such amount of money.

[TopT3ns]

It's just that most of us are subject to the stereotype that rich or famous people are always smart people.
But in reality, artists, singers, athletes, or movie stars are often just people who can do one skill well, but their horizons are even smaller than the average person.

Honestly a lot of rich people just got lucky too. I am more talking about the ones who got rich from being a celebrity. A lot of them don’t even have actual talent to begin with. It’s often a running advice in the show business that fame is not forever so you really should be wise with the money you receive and don’t spend it on lavish lifestyle just for it to disappear when you need it the most.

I agree that many individuals are remembered today by their cameras and the media and not by their extra ordinary talents that they have developed over the years. It is something that people do not consider many times that a fortune, of sorts, comes with ratings but the fortune, of sorts, does not come with its guidelines, in other words. You see, we have to live in an era when the attention can bring instant money but even we understand that attention shifts very quickly to other faces.

I do not entirely fault them because the system does develop such trends. We can however take a lesson out of that, just because something can come through at a fast pace, it does not mean it will be here to stay. Of course, it is not all about making the money but about surviving after being drawn into the spotlight. We the audience should not be laid into the web of what is described to sound glamorous on the surface.

[AmoreJaz]

I saw a movie about Tesla, and in it, he is portrayed as someone who was detached from money, much of what he earned went to fund his own experiments. I didn't see him on the list, but Elvis Presley also serves as an example. He didn't die broke, but he had much less money than people thought, and he was a worldwide success who earned a lot of money throughout his career.

I didn't know about Mozart's case, but as you can see, it is indeed a sad reality that even if you were at the top of your game, if you didn't know how to manage your finances, you will die the same with regular people. And also, a fact that you can't bring any wealth to your grave. A rich grave and a poor grave is the same, still you are under the soil.
Just think of this - if Mozart's music is being monetized every time it is being played, for sure, his family is continuously earning from his legacy. He may have died poor but he left a long-lasting legacy to the humanity.

[Fivestar4everMVP]

Well, I do not completely know or understand how most of us think but personally, I do not consider someone who died oweing debt, but had assets worth millions in dollars to be consider poor, or be considered that such a person died in poverty.
Being wealthy is not about gathering cash and stacking them up on one's account, it's about investing in assets and other profitable things that ensures that our networth keep growing instead of declining due to inflation.

Somebody like Michael Jackson didn't die a poor man, he should have never been included on this list because even if he owed 500 million in dollars before death, he had assets and properties that worth much more than this money he owed, he was rich and not poor.

[Oluwa-btc]

Let me focus on the moral of the lesson rather than the validity of the information. It is important to avoid a careless lifestyle that could lead to the waste of resources. Gambling, drugs, and other forms of addiction could lead to wasteful spending. Living within your means is also good to avoid debt. I prefer to live a modest life rather than spending on luxury and being indebted.

Nevertheless,life is short,fame can be short and as well doesn't guarantee financial security.For some celebrities,they have a short career life span that their wealth depreciates and runs dry immediately they're outta spotlight.You'll see that once their season ends,their income also follows suits.

[Zaka1221]

Let me focus on the moral of the lesson rather than the validity of the information. It is important to avoid a careless lifestyle that could lead to the waste of resources. Gambling, drugs, and other forms of addiction could lead to wasteful spending. Living within your means is also good to avoid debt. I prefer to live a modest life rather than spending on luxury and being indebted.

Nevertheless,life is short,fame can be short and as well doesn't guarantee financial security.For some celebrities,they have a short career life span that their wealth depreciates and runs dry immediately they're outta spotlight.You'll see that once their season ends,their income also follows suits.

People don't know what is investment and where they should invest their money to stay safe in life . There are many people who are dying poor after earning millions of dollars because they don't know the investment purpose but they have skill and they earned a lot of money from that and most of the ethlete have no financial knowledge and they wasted their money on use things because they were in high demand in their peak but with time they lost their money and now they are poor and they will die poor because they have no work and no skill to earn money at that time.They could be entrap in bad habits because they could be habitual of alcohol and visky which are not good for the health .

[Bright0515]

Does it mean that anyone that is In debt is poor? Asking because of the way you are passing across your message. Micheal Jackson had a lot of record deals and till date his hit songs are still played and making a lot of money for his family. I don't know about the other people on that list but Micheal Jackson's name should not be there, when he was alive he was the richest artiste so why would you say that he died poor just because he borrowed money lol. Even the rich people you know are in debt but this doesn't mean that they are poor