Nicolas Cage, MC Hammer, Courtney Love and Michael Jackson blew through their millions

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Fame and fortune often go hand-in-hand, with stars making millions and sometimes even billions thanks to their careers in the entertainment industry.

But when you've got all that money, it can be hard not to spend it all on lavish purchases, and some stars have managed to spend it all.

Nicolas Cage blew through $150million on private islands and zoo animals, while MC Hammer spent $70m on splurges like a trouser-shaped pool.

Here we take a look at the stars who made millions and spent a lot of money on some seriously lavish purchases.

Nicolas Cage blew through $150million
(Image: Getty Images)

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Nicolas Cage

Cage made his millions from his successful film career with movies including Leaving Las Vegas, for which he won an Oscar, and National Treasure under his belt.

He is known for making unusual purchases, including a $300,000 Tarbosaurus dinosaur skull and a prehistoric bear skull which he accidentally destroyed while playing pool at home.

The actor also bought two private islands, including a sprawling 40-acre island south of Nassau, for which he paid a whopping $7 million.

He once owned 15 residences simultaneously, which included a $25 million waterfront home in Newport Beach, California.

Cage also owned a $15.7 million countryside estate in Newport, Rhode Island, as well as a pricey $8.5 million estate in Las Vegas.

He is known for making unusual purchases
(Image: Getty Images)

The film star also went on to purchase two European castles: an 11th-century Bavarian castle in Etzelwang, Germany, for $8 million, as well as a castle in Bath, England, that cost the same amount.

He then spent millions doing the castles up.

Cage also owned more than 50 rare cars and around 30 motorbikes, worth hundreds of thousands of dollars each.

At one point he owned four gigantic yachts, with the most expensive being worth around $20million.

In 2006 Cage purchased a haunted house in New Orleans that was once owned by notorious serial killer Madame Delphine LaLaurie for $3.45 million.

His lavish purchases left him essentially broke, prompting him to shift blame onto his accountant, who he said sent him "down a path toward financial ruin".

As of 2018, Cage was thought to be worth $25million after spending much of his fortune after taking on lots of acting roles to earn money.

MC Hammer was one of the highest-earning stars in the music industry back in the late 1980s and early 1990s
(Image: NBCU Photo Bank via Getty Images)

MC Hammer

Hammer was one of the highest-earning stars in the music industry back in the late 1980s and early 1990s.

He was thought to be bringing in a reported $30million a year in the early nineties with his fortune estimated at around $70million.

But just five years later he filed for bankruptcy after blowing through his fortune.

He had bought more than 17 luxury cars, a private jet, two helicopters and 21 race horses, with some of the animals valued at around $1million each.

The musician employed a staff of around 200 people, which cost him an estimated $500,000 a month.

He purchased a home in Fremont, California for $12million and spent another $30million doing it up.

MC Hammer's former Mansion

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Hammer installed gold plated front gates emblazoned with his Hammer Time catch phrase.

The home had a bowling alley, basketball court, baseball triangle, recording studio, 17-car garage, tennis courts and two swimming pools.

One of the pools was famously shaped in the outline of his trademark baggy trousers.

The property was decorated marble statues of himself and he also installed a gold hot tub in his bedroom.

In April 1996 he filed for bankruptcy, listing more than 200 creditors as well as mounting tax bills.

He was forced to sell his beloved home for just $6.5million — $5.5million less than he originally paid for it.

His cars, planes and horses were taken away and he had to move to a much smaller home.

Hammer is now thought to be worth around $2million and makes money by touring regularly.

Michael Jackson died in 2009 with a huge amount of debt
(Image: Press Association)

Michael Jackson

Jackson died in 2009 with a huge amount of debt.

The Thriller singer died from an overdose of surgical anaesthetic Propofol, and it was during his wrongful death trial, that his "precarious" finances were laid bare by experts.

He had been worth $500million thanks to his monumental success, numerous worldwide tours, notable endorsement deals and his music catalogue, which included his own work and that of artists such as The Beatles.

Jackson blew through his fortune on gifts, travel, art, zoo animals, jewellery and furniture – as well as making huge donations to numerous charities.

William R Ackerman described Jackson during the trial as being in a "precarious financial position".

His most consistent expenditure when he was alive was the interest he paid on his debt, with The LA Times reporting that Jackson was handing over $30million in annual payments on his debt when he died in 2009.

Jackson's Neverland Ranch
(Image: Corbis via Getty Images)

Accountant Ackerman told the court that as far back as 1993, Jackson owed $30million which grew to $140million by 1998, and when he died in 2009, Jackson was somewhere between $400million to $500million in debt.

He was three or four months behind payments of his San Fernando Valley home where his mother lived at the time of his death.

Jackson's tours in the 1990s had not been great money spinners, and while he broke even on his Dangerous Tour in 1992, he lost $11.2million during his HIStory tour in 1997.

One of his biggest expenditures was his beloved Neverland Ranch which turned out to be a huge money pit.

Jackson went on huge shopping sprees
(Image: Getty Images)

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He paid out huge amounts for the maintenance of the zoo and the train that travelled round the mini-theme park, while his staff payments alone were said to have topped $2.5million a year.

Jackson also splashed out on a $9.5million mansion in Las Vegas, that was nicknamed 'The Thriller Villa.'

He also had an expansive art collection that was estimated to be worth around $90million.

The singer was also a fan of custom-made cars and owned a Rolls Royce Seaph Limousine, a 1990 Rolls Royce Silver Spur II and a white 1998 Lincoln town car, which were all customised.

His infamous shopping sprees could see him racking up thousands of pounds worth of purchases within minutes, and it was said that on occasion he would pick up a catalogue and order everything in it.

In 2008 Jackson stopped by at posh London department store Harrods where he's alleged to have spent £100,000 in 15 minutes.

Courtney Love and Kurt Cobain
(Image: WireImage)

Courtney Love

Courtney was left millions when her husband Kurt Cobain died in 1994.

She inherited $27million, as well as Kurt's personal effects, including expensive guitars and clothing, collectively valued at $120million.

But she admits she blew through her "Nirvana money" following Cobain's death.

She spent a huge sum on various court cases she's been involved in.

In 2014 she won a libel case after a tweet she posted regarding her former lawyer Rhonda Holmes was found to be not defamatory.

She told Australia's Style magazine in 2014: "I lost about -$27million -I know that's a lifetime of money to most people, but I'm a big girl, it's rock 'n' roll, it's Nirvana money, I had to let it go…

"I make enough to live on, I'm financially solvent, I focus on what I make now."

Courtney is now thought to be worth around $100million from her music and film career.

In 2015, 50 Cent, whose real name is Curtis James Jackson III, filed for bankruptcy
(Image: Getty Images for STARZ)

50 Cent

50 Cent achieved huge success in the early noughties with albums Get Rich or Die Tryin', making him one of the best-selling rappers in the world.

At the height of his fame he sold over 30 million albums worldwide and won several awards, including a Grammy Award, 13 Billboard Music Awards, six World Music Awards, three American Music Awards and four BET Awards.

It helped him amass a fortune of £90million.

But in 2015, 50 Cent, whose real name is Curtis James Jackson III, filed for bankruptcy.

At the time he had around $20million in assets but was around $36million in debt.

At the time he had around $20 million in assets but was around $36million in debt
(Image: GETTY)

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It started when a jury ordered him to pay $5million to a woman whose sex tape he posted online.

He also suffered failed business ventures.

In 2014 just over $16million to Sleek Audio after a judge ruled that he had "misappropriating trade secrets, breaching his fiduciary duty owed to Sleek, participating in a civil conspiracy, breaching his confidentiality agreement with Sleek, and being unjustly enriched."

He entered a partnership with them, but after the headphones failed to sell, he later launched his own range which Sleek said were "basically the same design, mechanically".

After filing for bankruptcy, a judge came up with a five-year plan to pay back $8.7million of the debts.

He also received $13.65million in a settlement in a malpractice lawsuit, that also went to pay back his debts.

As of 2021, 50 Cent's net worth is estimated at $30million

Aaron Carter filed for bankruptcy in 2013
(Image: Getty Images for WE tv)

Aaron Carter

Aaron shot to fame in the early noughties as a teen star and released five studio albums.

In 2013, he filed for bankruptcy, claiming to be $3.5million in debt, and had only had a little over $8,000 in assets.

His debt included $1.368million owed to theInternal Revenue Service.

When he filed, he said his monthly income was $2,000 and his monthly expenses were $2,005.

He was able to resolve his tax debt by 2014.

Aaron told the Huffington Post in 2016: "I'm not broke. I mean, I don't make all the money in the world right now, but I'm doing the best that I can. I do a lot of shows and I write a lot of music. I’m rebuilding my life."

Toni Braxton has filed for bankruptcy twice

Toni Braxton

Toni achieved huge success with her song Un-Break My Heart in the nineties, but she didn't make as much money from her music career as you'd expect.

In fact, the singer has filed for bankruptcy twice: first in 1998 and again in 2010.

She said she got a measly $1,972 royalty check from her first recording contract.

Her album generated more than $170 million in sales for her record label Arista/LaFace, but her lawyer told the LA Times that Braxton made less than 35 cents per album.

The popstar's biggest splurges were buying things for her home, including expensive plates, Faberge eggs, and 1,000 thread-count sheets.

In 1997 she filed a lawsuit against her label, and just eight weeks later filed for bankruptcy.

Then in 1999 she reportedly settled the lawsuit for $20million, but The Daily Mail reported that she still owed a lot of money in legal, agent, manager fees, and taxes.

Braxton didn't make much money from her pop success
(Image: GETTY)

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After this, her career picked up and she released her third album, The Heat, in 2000, and starred in a Broadway show.

In 2006 she started a Las Vegas residency but was soon diagnosed with microvascular angina and then lupus, which forced her to cancel the concerts.

She then filed for bankruptcy for a second time in 2010.

She told 20/20: "The Vegas show, I just renewed my contracts with all my vendors, and then a month later, I got sick.

"I couldn't work and could not afford to pay them back."

In July 2013, her second bankruptcy cased was settled, and Braxton only ended up having to pay $150,000 for owed property and $100,000 for performance fees, according to TMZ.

Since then, Toni has released three more albums, gone on several tours and starred in her own TV show, Braxton Family Values.