Famous people that died poor

[Jateng]

It will be considered a standard because at the end of the day there will be a lot of factors that must be considered when we are famous including image and style. I think not only those who are famous because of this standard now even most of us are more adhering to where the ego and always showing something fashionable or glamorous is the choice so that the views of others do not become bad for us. Not a few of us always force ourselves with it,

Especially those who are already famous, it is certain that when the prestige begins to fade, they will try to force to increase their prestige again, the most important thing is that they are not lost from the views of many people.

It is not only related to famous people. There are many cases in the world where people became rich but later died poor. they are famous personalities, they got a lot of limelight through social media, Many stories show that even very rich people ended their lives in poverty. This happens because of their lifestyle. They spend a lot of money on branded items, luxury goods and maintaining their appearance, such as plastic surgery, whitening treatments, and expensive cosmetics. The problem is not spending money but spending it without wisdom. When people earn a lot but do not invest and only focus on showing off, they slowly move toward poverty. Spending on brands is not bad if someone also saves and invests.

[DiMarxist]

Looking at the stories of these people especially Michael Jackson who were one of the richest and most influencial Artist of his time, one thing keeps ringing in my mind financial intelligence and investment. No matter how rich you are as a person you have to have financial intelligence and invest the money you are making. This is why the world billionaires always remain rich because from what I have been able to see and learn from the world billionaires is that even though they have the money they don't spend it any how they prefer adding value to their money rather than buying luxuries and living a classy lifestyle. The conclusion of this is that always spend less than you save.

[Joeboy]

Looking at the stories of these people especially Michael Jackson who were one of the richest and most influencial Artist of his time, one thing keeps ringing in my mind financial intelligence and investment. No matter how rich you are as a person you have to have financial intelligence and invest the money you are making. This is why the world billionaires always remain rich because from what I have been able to see and learn from the world billionaires is that even though they have the money they don't spend it any how they prefer adding value to their money rather than buying luxuries and living a classy lifestyle. The conclusion of this is that always spend less than you save.

You are right....Most of those celebrities folks of the past were chronic spenders, but yet they still weren't really fans of investment and it really cost them a lot...To invest is synonymous to creating a future gateway of wealth which can benefit not only you and your family but also you generations to come. Investment build and created more wealth and luxurious lifestyle scatters it, so while investing, folks have to avoid some luxurious lifestyle and out them on a hold so it wouldn't later affect their investment....Let's use MJ as an example, his yearly expenses exceeded his yearly income and this put him in serious debt, and when he died they used most of the proceedings of his investment in settling debts..

[Dictator69]

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.

This post is really constructive and informative. I did not knew even Jackson died in debt, because he was really famous, girls loved him. He was the star of his culture and yet he died in debt? I doubt it but if you are saying truth.

We should learn a simple lesson from this, that everyone, no matter how much they have in their banks and how much they are in debt, they all die. I am saying this obvious thing that many people, when they become rich, start to become evil and forget that money can't save them from death.

Second, I learned from this that, we should never take loans, if we are taking loans, we should strictly pay them back as soon as possible because life is short, we never know if we will wake up tomorrow.

[Rgram]

Micheal Jackson can not be considered to die poor because he has assets that latter become very profitable which was used to pay for the dept that you are referring to. He is still in profit as of today.

It seems the OP just considers anyone in debt to be poor and that context is so unreal. People declare for bankruptcy even when they haven’t gotten to that point but rather, use it as a strategy to hedge against unfair taxation and guide their business to help it grow.

Micheal Jackson had series of lawsuits at the later part of his life that did result in a lot of out of court settlements just to avoid the extensive stress of going about court cases and this did hurt his finances because, people saw it for an opportunity and were just peaking at him and coming up with lots of controversies to paint the king of pop in a bad way.

However, he was never poor, he still listed amongst the wealthiest people on earth and his songs still earns him royalties till date. Even in death, his still earning!

[bubilas]

Often, famous and, as a result, wealthy people aren't always people with a broad outlook or skill with money. I'd even say that very often these people are focused only on what they're good at and how they've earned their fame. But when it comes to finances, they have no understanding whatsoever of how to properly invest money or how to protect it. So, of course, they spend everything and often end up with nothing at the end of their lives, or are deceived by swindlers who are rife in high society like drones. In fact, rich people are often lonely, because real trust is lost when money is big.

[ChainNomad]

Looking at the stories of these people especially Michael Jackson who were one of the richest and most influencial Artist of his time, one thing keeps ringing in my mind financial intelligence and investment. No matter how rich you are as a person you have to have financial intelligence and invest the money you are making. This is why the world billionaires always remain rich because from what I have been able to see and learn from the world billionaires is that even though they have the money they don't spend it any how they prefer adding value to their money rather than buying luxuries and living a classy lifestyle. The conclusion of this is that always spend less than you save.

You are right....Most of those celebrities folks of the past were chronic spenders, but yet they still weren't really fans of investment and it really cost them a lot...To invest is synonymous to creating a future gateway of wealth which can benefit not only you and your family but also you generations to come. Investment build and created more wealth and luxurious lifestyle scatters it, so while investing, folks have to avoid some luxurious lifestyle and out them on a hold so it wouldn't later affect their investment....Let's use MJ as an example, his yearly expenses exceeded his yearly income and this put him in serious debt, and when he died they used most of the proceedings of his investment in settling debts..

Richness is not necessarily financial prudence. An increase in spending can easily consume the money because as long as the income remains steady money will go away.The only way to be actually wealthy is to guard and increase what you earn. There are many billionaires who remain wealthy as they are interested in assets rather than lifestyle. Now is the time to spend money on luxury but your future is taken care of with investments.In my case it is the simple earn save invest and spend the rest without feeling guilty, Financial intelligence does not have to do with the amount of money you earn but the manner in which you spend it.

[Franklyn-wood]

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.

This post is really constructive and informative. I did not knew even Jackson died in debt, because he was really famous, girls loved him. He was the star of his culture and yet he died in debt? I doubt it but if you are saying truth.

We should learn a simple lesson from this, that everyone, no matter how much they have in their banks and how much they are in debt, they all die. I am saying this obvious thing that many people, when they become rich, start to become evil and forget that money can't save them from death.

Second, I learned from this that, we should never take loans, if we are taking loans, we should strictly pay them back as soon as possible because life is short, we never know if we will wake up tomorrow.

Nice, I believe there are factors that contribute toa person  becoming poor after being wealthy at some point in life, which could be as follows
Peer group this set of people if they are not financially intelligent, it is possible for such people to influence the other with there extra vergant lifestyle.
Poor mindset can also affect decision making, because what you know is who you are and who you become.
Having a rigid decision making is when one doesn't take advice from others or willing to learn from others good achievements.
Iliteracy is the lack of knowledge that affects what we learn, know, explore, the information we have and can limit a person who at some point in life was wealthy and later become poor.