Not a terribly smart move if you ask me.
It might mean something if he were still considered a big superstar but those days are 20 years in the past.
I think it's endemic to the entertainment biz. They're gypsies who might occasionally hit the Lotto of stardom, but many toil in obscurity and poverty without ever making it big. Most who do shine sink back into obscurity after a few hits. The difficulty is having to start from scratch after the bright lights and seemingly easy money. I'd say the constant instability and insecurity are prime reasons why showbiz figures will always mostly be welfare statists.