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From Burt Reynolds to Johnny Depp, why do so many mega-rich celebs go broke?
New York Post ^ | 07/26/2018 | Maureen Callahan

Posted on 07/26/2018 6:18:33 AM PDT by SeekAndFind

Now 64 and enjoying a second career as host of “Comedians in Cars Getting Coffee,” Jerry Seinfeld breathes such rarefied air that guests on his show — who have included Dave Chappelle, Tina Fey and then-President Barack Obama — invariably state some version of this sentiment: “Jerry, why are you here, talking to the likes of me, when you could just be home sitting on your pile of money?”

And Seinfeld shrugs and laughs as if to say, “Yes, that is true.”

So it’s sobering to read the deep and detailed civil complaint filed by producer-director-writer Christian Charles, who has worked with Seinfeld since 1994, over the creation and production of “Comedians.” One scene in particular stands out.

“At a meeting on July 30, 2011, at the Princess Diner in Southampton, New York, Seinfeld expressed to Charles that Seinfeld’s representatives George Shapiro and Howard West (“Shapiro West”) were pressuring Seinfeld to come up with a new television show and/or stream of revenue after the negative reception and cancellation of Seinfeld’s television show ‘The Marriage Ref.’ ”

Could Jerry Seinfeld really need money? Jerry Seinfeld, who made a reported $220 million when his eponymous ’90s sitcom went into syndication? Who, according to Forbes list of 2018 Celebrity 100 Earnings, has a net worth of $57.5 million?

If the allegations are true — and Jerry Seinfeld really did need another “stream of revenue” — how fast could he be burning through cash?

The phenomenon of celebrities going broke is nothing new. From Burt Reynolds to Debbie Reynolds, Elvis to Michael Jackson, Nicolas Cage to Wesley Snipes, Mike Tyson to 50 Cent — all blew through astronomical sums of money.

(Excerpt) Read more at nypost.com ...


TOPICS: Music/Entertainment; Society; TV/Movies
KEYWORDS: bankruptcy; celebrities
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To: SeekAndFind

Same with Mickey Rooney, Marlon Brando, Johnny Depp and others. Can’t handle the money or the success and have no inner resources, I guess.


21 posted on 07/26/2018 6:54:29 AM PDT by miss marmelstein
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To: wmileo

RE: I don’t see Sheep dip Johnny Depp’s name anywhere in the article except the title.

I see you did not click the NY Post link to read the entire article (I only posted an excerpt).


22 posted on 07/26/2018 6:56:52 AM PDT by SeekAndFind
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To: SeekAndFind

They are idiots.

They think “a lot of” money = “unlimited” money.

There is a great series on Reelz about this very topic.


23 posted on 07/26/2018 6:57:41 AM PDT by freedumb2003 ("please pass the winnamins" (/Principled on 6/27/2018))
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To: wally_bert

24 posted on 07/26/2018 6:58:01 AM PDT by knarf (I say things that are true, I have no proof, but they're true.)
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To: woodbutcher1963

Just because you can sing, dance, act or play a sport does not mean you can handle money. It is no different than the person who makes $50K a year but has $35K in credit card debt.


Exactly correct. Most people who win the lottery are broke in five years. They spend, spend, spend, on frivolities. They give away lots of money. They “invest” in get rich quick schemed peddled by people wanting to use their money.

They have never learned to handle money, so they blow it.


25 posted on 07/26/2018 7:00:05 AM PDT by marktwain (President Trump and his supporters are the Resistance. His opponents are the Reactionaries.)
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To: SeekAndFind

“Seinfeld’s representatives George Shapiro and Howard West (“Shapiro West”) were pressuring Seinfeld to come up with a new television show and/or stream of revenue after the negative reception and cancellation of Seinfeld’s television show ‘The Marriage Ref.’ ”

It could be that seinfelds representatives are pushing him not because seinfeld needs the revenue, but because his representatives do. If seinfeld does nothing but sit on his pile of money, his representatives dont make a cent. But when seinfeld pours his money into a new profitable venture, they make money too.


26 posted on 07/26/2018 7:02:03 AM PDT by lowbridge
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To: miss marmelstein

Same with Mickey Rooney, Marlon Brando, Johnny Depp and others. Can’t handle the money or the success and have no inner resources, I guess.

Well, didn’t Mickey have something like a dozen ex-wives? I can imagine that alimony would have eaten up a lot of his money.


27 posted on 07/26/2018 7:02:14 AM PDT by Pravious
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To: mjp

Depp is poor mouthing to keep his ex-wife from asking for more money.

I had a coworker who got in with a tech-startup and ended up cashing out for millions. Then he got addicted to day trading. He admittedly was just breaking even on it but you can do that when your income is $500k a year. Last I heard, he sold apps and made another fortune. He’s single. His philosophy on women: Why should I own one when I can rent them? I can’t imagine anyone could stand living with him anyway.


28 posted on 07/26/2018 7:03:08 AM PDT by AppyPappy (Don't mistake your dorm political discussions with the desires of the nation)
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To: knarf

Wait a minute! Isn’t that guy on the left in the “Oswald gets shot” photo?! :-O!


29 posted on 07/26/2018 7:03:38 AM PDT by Pravious
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To: SeekAndFind

Because they are rich because they are pretty, not smart.


30 posted on 07/26/2018 7:05:41 AM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
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To: SeekAndFind
2 word solution: Dave Ramsey
31 posted on 07/26/2018 7:06:47 AM PDT by Dubh_Ghlase
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To: Pravious

That was 50 years ago, son.


32 posted on 07/26/2018 7:07:07 AM PDT by knarf (I say things that are true, I have no proof, but they're true.)
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To: woodbutcher1963

You are right about Wayne Rogers being keen investor. In the 70s Peter Falk was talking to Johnny Carson on The Tonight Show. He said he considered Rogers a financial genius. At the time nobody was talking about Roger’s skill in investing and finance and it seemed a little strange, but Falk was pretty enthusiastic.

He said that himself and John Cassavetes had formed a partnership with Rogers and bought large tracts of land in California’s wine country on Rogers advice. I always think about that when I see anything about Rogers. I bet the price they paid for the land seemed like a bargain in just a few years, and they probably made a mint.


33 posted on 07/26/2018 7:08:32 AM PDT by Stevenc131
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To: SeekAndFind

They go broke because they don’t know how to manage money or assets. And, that really doesn’t take many brain cells. And, you can tell they don’t have enough brain cells just by observing their political leanings.


34 posted on 07/26/2018 7:09:35 AM PDT by eastexsteve
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To: SeekAndFind

Saw an interview of Florence Henderson where she said the smartest thing she ever did was hire a business manager early in her career and listen to him.


35 posted on 07/26/2018 7:10:08 AM PDT by GMMC0987
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To: al_c
Netflix has turned into a permanent Nicholas Cage Film Festival - so he must be getting at least some residuals. :)
36 posted on 07/26/2018 7:10:08 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: SeekAndFind

If you buy stuff you’ll soon be broke no matter how much you make. If you buy stuff that generates income and holds value, you’ll never be broke again.

Entertainers seldom think to do the latter. They think the money will always be there, and then comes the day it isn’t, and the popular tastes have changed and moved on, and they no longer have anything the public wants to buy.

The richest people in Hollywood are often not the first tier performers, but lesser lights who have one wife, one family, and spend their money buying property.


37 posted on 07/26/2018 7:11:00 AM PDT by marron
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To: SeekAndFind

Guess that FSU education didn’t serve Burt well.


38 posted on 07/26/2018 7:12:15 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: SeekAndFind

They spend their money like liberals spend our money. Same mentality, same result.


39 posted on 07/26/2018 7:13:28 AM PDT by Spok ("What're you going to believe-me or your own eyes?" -Marx (Groucho) to sun spot6)
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To: Pravious

Yeah! The one who yelled “Jack, you son of a bitch!!” just as Ruby plugged Oswald.


40 posted on 07/26/2018 7:13:40 AM PDT by elcid1970 ("The Second Amendment is more important than Islam. Buy ammo.")
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