Some people seem to be made of money, others don't seem to know how to keep hold of it. From costly divorces to lottery winners who spent it all, to dodgy investments and Ponzi schemes, here is our round up of people who made their fortune, then blew it.

Love Actually star Martine McCutcheon was worth $2.5 million (£2m) at the height of her fame but in 2013 ended up going bust with debts of $237,500 (£187k). She declared herself bankrupt after depression and ME meant her work dried up, and later spoke of her devastation when her $31,800 (£25k) engagement ring was seized by bailiffs. 

British TV cook Clarissa Dickson Wright inherited $3.5 million (£2.8m) from her mother in 1975 but blew it all during more than a decade of heavy drinking. Having originally trained as a barrister, Dickson Wright eventually gave up alcohol and reinvented herself as one half of the BBC's Two Fat Ladies alongside Jennifer Paterson. But money woes never escaped her. Upon her death in 2014, she had only $11,460 (£9k) in her bank account and an unpaid tax bill of $21,600 (£17k). 

Ibi Roncaioli and her doctor husband Joseph were already comfortably off when Ibi won C$5 million ($3.7m/£2.9m) on the Canadian Lotto 6/49 in 1991. But all was not well in the relationship. Ibi had two 'secret' sons from previous relationships and gifted them the bulk of the winnings. When Joseph found out in July 2003, he killed his wife by injecting her with a cocktail of lethal drugs. The former gynecologist served seven years in prison for the crime.

The champagne corks were flying when Edinburgh native John Roberts scored a $4.4 million (£3.5m) win on the UK National Lottery in 1998, but Roberts was back to drinking Cava in next to no time. The spendthrift Scot spent a fortune on super cars and dodgy investments, including a money-pit pub. By 2001, Roberts' winnings had disappeared and he ended up moving into a mobile home.

Soul singer Marvin Gaye was forced to declare bankruptcy in 1976 after he owed his wife $600,000 (£473k). To settle the debt, Gaye promised his ex the royalties from his next album, Here, My Dear, which was dedicated to the fallout of his marriage. That particular album was a something of a flop but he was making a comeback in the 80s with Sexual Healing, when he was sadly shot dead by his father a day shy of his 45th birthday. 

 

Hollywood actress Kim Basinger was worth $5.4 million (£4.3m) when she filed for bankruptcy in 1993. She had been sued by Main Line Pictures for breach of contract for more than $8 million (£6.3m) after she pulled out of the film Boxing Helena. Basinger later settled for $3.8 million (£3m). The star, also known for a fiery divorce from fellow star Alec Baldwin, then took a three-year hiatus from acting before making her big comeback in LA Confidential. The role won her a Golden Globe. 

Former soldier Peter Kyle won $6.6 million (£5.1m) when his numbers came up on the UK National Lottery in 2005, and the Plymouth native even won an extra $650 (£500) playing Bingo to celebrate the win. But all this good luck wasn't to last. By 2008, Kyle had lost the lot and was forced to claim unemployment benefit, having pumped his cash into a series of appallingly bad investments.

When Lawrence Candlish landed a UK National Lottery payout of $7.1 million (£5.5m) in 1997, the Gateshead resident lavished his family with gifts, including property and cars. Candlish moved to Spain in the early 2000s and ploughed the rest of his winnings into several failed business schemes, while illegally claiming UK disability benefits. The now penniless ex-pat returned to the UK to face the music in 2012 and received a suspended sentence for the fraud.

A victim of her own generosity, Sharon Tirabassi, 39, from Hamilton, Ontario won C$10.5 million ($7.8m/£6m) in the Canadian Lotto Super 7 back in 2004. Tirabassi spent lavishly on family and friends, splurging on everything from designer clothes to a tricked-out Cadillac. Now, all that's left of her lottery winnings is tied up in trust for her children and Tirabassi is living frugally in a rented house, and taking the bus to work.

Bryan Magee from Derry, Northern Ireland nabbed a spot on the Sunday Times Top 100 Rich List for young people when he won the UK National Lottery jackpot of $8.14 million (£6.4m) in February 2008. But his affluence was short-lived. Magee lost a fortune when his business crashed in 2013, and eventually had to put the home he bought with his winnings up for sale to help pay off his creditors.

Londoner Lee Ryan was awaiting trial for handling stolen vehicles when he walked away with a $8.4 million (£6.5m) win on the UK National Lottery in 1995. The convicted criminal, who served nine months in prison, spent like crazy on his release. Ryan moved to Kyrgyzstan in Asia in the mid-2000s and was duped out of the rest of his winnings. By 2010, the money had all but vanished, Ryan returned to London and the 'Lotto Lag', as he was nicknamed by the UK press, spent two years sleeping on the streets.

Tragic Keith Gough picked up $11.6 million (£9m) in prize money when his numbers came up on the UK National Lottery in 2005. Keith splurged on luxuries and spoiled family and friends, and as his spending spiraled out of control, his wife divorced him and Keith descended into alcoholism. Broke and in serious debt, he died of a heart attack in March 2010.

"Lotto lout" Michael Carroll won $12.3 million (£9.7m) on the UK's National Lottery back in 2002, but squandered his fortune on fast cars, drugs and partying within 10 years. Earlier this year, Carroll was reported to be earning $12.70 (£10) an hour chopping firewood and delivering coal at a fuel merchant's in Elgin, Scotland. He told the Daily Mail that becoming broke was the "best thing that happened to him", adding that he had a great time doing it.

Winning a bumper $12.9 million (£10m) on the UK National Lottery in 1997, soccer fan John McGuinness quit his $200 (£150) a week hospital porter job and spent like no tomorrow, snapping up troubled soccer club Livingstone in the process for $4 million (£3m). McGuinness hadn't realized he'd be liable for the club's debts and his remaining winnings were swallowed up. By 2009, McGuinness had barely enough cash left for groceries.

William 'Bud' Post III thought he'd lucked out big-time when he won $16.2 million (£12.6m) on the Pennsylvania Lottery in 1988. Not so much when his brother tried to have him murdered to get hold of the money, and his wife successfully sued him for a large chunk of the winnings. His spending out of control, Post eventually ran up debts of of $1 million (£775k) and was living on food stamps for several years before his untimely death in 2006 at the age of 66.

Beverly Hills 90210 actress Tori Spelling has long been known for her financial woes, having inherited only $800,000 (£628,000) of her producer father Aaron's $500 million (£392m) estate back in 2006. She was thought to have blown her inheritance and another $17 million ($13m) within years. Since marrying in 2006, Spelling and her husband Dean McDermott have reportedly been hit with an unpaid tax bill of nearly $1 million (£790,000) and claims over large credit card debts.  

Rich and famous people who refuse to spoil their kids

South Korean immigrant Janite Lee went from rags to riches in 1993, winning a cool $18 million (£14m) on the Missouri Lottery. Overly generous, the former wig maker's American dream soon turned into a nightmare. Lee donated millions to charity and bankrolled the Democrat Party, and bought everything on credit. By 2001, the philanthropist was bankrupt, owing her debtors a staggering $2.5 million (£1.9m).

German tennis star and TV pundit Boris Becker was declared bankrupt in 2017 over undisclosed sums of money owed to London-based private bankers Arbuthnot Latham & Co since 2015. Becker, who made over $25 million (£19m) in career prize money, sought to block an auction of his trophies and memorabilia by claiming diplomatic immunity thanks to his role as a cultural and sport attache to the Central African Republic. But the sale will go ahead in June after Becker withdrew his claim.

Kentucky resident David Lee Edwards won a $27 million (£21m) share of a Powerball jackpot in 2002. Flush with cash, Edwards went on the mother of all spending sprees, blowing the lot in under five years on a huge mansion, fleet of luxury cars and LearJet, not to mention copious amounts of narcotics. Ravaged by drugs and estranged from his wife, the ill-fated lottery winner died in 2013 aged 58, penniless and alone.

Basketball player Dennis Rodman had a salary of $27 million ($21m) during his NBA days, not including endorsement deals. But after quitting professional basketball he was left struggling to pay his bills and in 2012 he was in court for the $809,000 (£635k) he owed in child support payments, claiming he was broke and sick. He has also tried his hand at acting and professional wrestling, and became known for his trips to North Korea.

John Hervey, 7th Marquess of Bristol, inherited a cool $6 million (£5m) by his 21st birthday in 1975, around $28.5 million (£22.5m) in today's money. During his 20s, Hervey increased his fortune through investments, but an uncontrollable drug habit and lavish spending spelled his downfall. By the early 1990s, he was virtually bankrupt. He offloaded heirlooms and downsized to control his debt, before passing away in 1999 aged 44.

Eighties rapper MC Hammer was estimated by Forbes to have amassed a $33 million (£26m) fortune over his career. But in 1996, the U Can't Touch This singer filed for bankruptcy as he was more than $13 million (£10m) in debt, which was rumoured to be due to slowing album sales and a lavish lifestyle. Hammer, real name Stanley Kirk Burrell, has now made something of a comeback as a technology entrepreneur and investor. 

Quarterback Michael Vick filed for bankruptcy in 2008 after he failed to resolve a legal dispute with creditor Joel Enterprises Inc, which was owed $4.5 million (£3.5m). His former team, the Atlanta Falcons, were also reportedly owed $6.5 million (£5.1m) as part of a salary settlement. He eventually repaid his debts after joining the Philadelphia Eagles. Vick, who also served 548 days in prison for his role in a dog-fighting ring, eventually paid off the last of his bankruptcy debt in 2017.

Maureen O'Connor, who was mayor of San Diego from 1986-1992, received a huge $50 million (£39m) inheritance when her husband died in 1994. Struggling to cope with the loss, she turned to gambling and, despite the fact she managed to win $1 billion, she lost even more. After being charged with money laundering when she took money from her husband’s non-profit to cover casino debts, she was made to pay back the money and has reportedly been left destitute.

Former NFL player Mark Brunell filed for bankruptcy in 2011, citing debts of $24.8 million (£19.5m) compared to assets of $5.5 million (£4.3m). Despite having earned $50 million (£39m), the former quarterback blew nearly all of it in investments, including nine businesses and projects, five of which nose-dived. This included a failed real estate portfolio and an investment in a doomed Whataburger franchise.

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At the peak of his popularity, Hollywood star Burt Reynolds commanded about $10 million (£7.8m) a film. But a costly divorce from Loni Anderson in the early Nineties accelerated his slide into bankruptcy, which he eventually declared in 1996. His career was revived with his role as Jack Horner in Boogie Nights, for which he won an Oscar as Best Supporting Actor. Reynolds, also known for iconic films such as Smokey and the Bandit, died of a cardiac arrest in 2018. 

People who went spectacularly bankrupt

Patricia Kluge scored $100 million (£79m) after divorcing media billionaire John Kluge back in 1990. She invested in a Virginia vineyard but was hit by the recession and despite auctioning off her jewellery, such as this Cartier watch, Kluge ended up filing for bankruptcy in 2011. The vineyard was sold for a fraction of its earlier value, to none other than Donald Trump.

In 2002, construction boss Jack Whittaker won a whopping $314.9 million (£244.2m) on the Powerball multi-state lottery and opted for a lump sum payout of $113 million (£87.6m). Plagued by bad luck, the Virginia native overspent and frittered away the cash on bad investments – he was even robbed at one point. By 2007, all the money had gone and Whittaker was back to square one.

20 lottery winners who blew the lot

Eccentric designer Betsey Johnson started her career in the fashion industry as editor of Mademoiselle in the 60s, before eventually going on to found her own clothing line in 1978. At the height of her career in the mid-2000s, her brand saw $150 million (£118m) in yearly sales. But expansion coincided with declining sales and her company ended up defaulting on a $48 million loan (£38m). Johnson filed for bankruptcy in 2011. She is still the brand's creative director. 

At the height of his fame, Hollywood star Nicolas Cage made $40 million (£32m) a year with his movies and owned 15 residences, including a $25 million (£19m) home in Newport Beach, California. He also once allegedly outbid fellow star Leonardo DiCaprio for a $276,000 (£217k) dinosaur skull, although it was later found to have been stolen and was returned to the Mongolian government. In 2009, he had to file for bankruptcy after being particularly badly hit by the 2007 property bubble.

Rapper 50 Cent was left with significantly less than that to his name when he filed for bankruptcy in 2015, owing $32 million (£25m). Papers submitted to a Connecticut court showed he owned an $8.25 million (£6.5m) mansion, with 37 bedrooms and seven cars worth $500,000 (£395k), including a Rolls-Royce Phantom Drophea. 50 Cent, real name Curtis Jackson III, finally emerged from bankruptcy two years later.

R&B star Toni Braxton has filed for bankruptcy twice. On the first occasion, in 1998, the Unbreak My Heart singer said she got a measly $1,972 in royalties despite $170 million (£133m) in global record sales. She filed for bankruptcy again in 2010, citing a diagnosis of a life-threatening health condition and subsequent debts of millions of dollars due to the cancellation of her self-financed Las Vegas shows. But things are still a little financially tricky for the star, and in 2018 it was reported Braxton is behind on her taxes to the tune of $780,808 (£615k).

Singer Dionne Warwick was declared bankrupt in 2013 after running up more than $10 million (£7.9m) in unpaid taxes. The five-time Grammy award winner, who had seen global album sales totalling more than 100 million copies and during the 70s was earning as much as $100,000 (£79k) a month, was said to be down to her last $1,000 (£787). A year later, she was excused of paying back the tax debt, which dated back to 1991.

Despite earning more than $300 million (£235m) during his career, controversial former boxer Mike Tyson ended up filing for bankruptcy in 2003. Later admitting he had squandered his earnings on mansions, cars, prostitutes and jewellery, it took Tyson over a decade – and a stint in rehab – to escape bankruptcy. He did start making money again, telling a conference: "I plan on keeping it this time."

Woolworth heiress Barbara Hutton had inherited $50 million (£38m) by her 21st birthday in 1933, that's the equivalent of $959 million (£757m) today. Yet the heiress, who had a troubled childhood, was a compulsive shopper and splurged millions on jewellery, artwork and couture.  This meant that by the time of her death in 1979 the woman nicknamed “Poor Little Rich Girl” was on the brink of bankruptcy.

These people inherited fortunes – and then blew the lot

Former owner of West Ham FC Bjorgolfur Gudmundsson was one of two Icelandic billionaires to make it on to Forbes' Rich List 2008, with an estimated net worth of $1.1 billion (£868m). The tycoon made his money through a Russian brewing business and became a major shareholder in Landsbanki, which failed as part of the Icelandic financial crisis. In 2009, he was declared bankrupt and Forbes revised his net worth down to zero.

Despite being one of the world's most famous and successful pop stars, Michael Jackson was thought to have debts of $300 million ($236m) and liabilities of $400 million (£314m) during his 2005 child molestation trial. Prosecutors described him as a millionaire with a billionaire's spending habit. At the time of his death in 2009, the Internal Revenue Service estimated his worth at $434 million (£342m) but his estate claimed it was a mere $2,105 (£1,660).

Aubrey McClendon was hailed as a pioneer of the fracking industry and built a $1.2 billion ($940m) fortune as co-founder and CEO of Chesapeake Energy. He became the face of the US's natural gas boom but in 2016, McClendon was accused of trying to rig oil prices. A day after his indictment, he died in a single-vehicle car crash. Investigators later ruled it to be an accident, but rumours of suicide persist. McClendon is also thought to have been broke at the time of his death.

Clint Murchison Jr. was bequeathed $200 million (£153m) when his oil tycoon father died in 1969, which works out as $1.4 billion (£1.1bn) today. He invested in a football team, oil, radio and real estate, but the ill-judged investments left him laden with debt in the late 1980s. Suffering from a rare nerve disease which confined him to a wheelchair, Murchison filed for bankruptcy protection in 1985, and died two years later, having sold most of his assets.

Once worth about $1.5 billion (£1.2bn), Indian businessman Vijay Mallya built his fortune on Kingfisher beer before branching out into cricket and F1. He also set up Kingfisher Airlines, which ran into difficulties and closed its doors in 2012. Mallya, who was known as the "King of Good Times", arrived in the UK in 2016 after defaulting on debts of more than $1 billion (£790m) and is currently appealing an extradition order to India, where he faces charges of fraud and money laundering.

Allen Stanford sure enjoyed the trappings of his $2.2 billion (£1.7bn) fortune, indulging in private planes and yachts during his heydays as an American financier and sponsor of professional sports. But in 2009 it was revealed that his wealth was acquired by orchestrating the second-largest Ponzi scheme in history, according to CNBC. He’s now penniless and behind bars after being sentenced to a 100-year prison sentence in 2012.

Jocelyn Wildenstein, known as 'Catwoman' due to her extensive plastic surgery, acquired a $2.5 billion (£2bn) fortune when she divorced French art dealer Alec Wildenstein in 1999, and $100 million (£78.6m) each year for the following 13 years. But in 2018, she filed for bankruptcy at a US federal court, where a filing listed her only source of income as being a $900 (£709) Social Security cheque she receives each month. Wildenstein regularly made the papers for her lavish lifestyle, once buying a capuchin monkey as a pet. 

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Elizabeth Holmes became renowned for being the youngest and richest female entrepreneur in the US as CEO of Theranos, which promised to revolutionise healthcare through a cheap and simple blood test. Once worth $4.5 billion (£3.6bn), Forbes revised down her net worth to zero after the blood tests were revealed to be fraudulent. Holmes was made to pay a fine of $500,000 (£394,000) and give up her shares and, last year, she was indicted on charges of wire fraud. She denies the charges.

Sean Quinn was the richest man in Ireland back in 2008, worth a whopping €4.7 billion ($5.2bn/£4.1bn). His company, the Quinn Group, had been involved in everything from insurance to manufacturing, but his undoing came after he acquired a 25% stake in Anglo Irish Bank, using mostly borrowed money. In 2012, Quinn was jailed for nine weeks for contempt of court over his family's refusal to pay back nearly €3 billion ($3.4bn/£2.6bn) in assets to the then-nationalised Anglo Irish Bank.

German industrialist Adolf Merckle was once one of the richest people in the world thanks to a career which earned him an estimated $12.8 billion (£10bn) net worth. But the businessman, who was known for living modestly and cycling to work, was very hard hit by the recession of 2008 and his family said seeing his wealth ebbing away had left him a "broken" man. In early 2009, he took his own life.

Bernie Madoff made billions as a hedge-fund investment manager, founding Bernard L Madoff Investment Securities. But in 2009, he pleaded guilty to operating the world's largest Ponzi scheme, a scam which sees early investors being repaid with money acquired from later investors, rather than through investment income. Madoff was sentenced to the maximum of 150 years in prison over the swindle. 

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Brazilian mining magnate Eike Batista was once worth about $34 billion (£27bn) but lost most of it when his empire collapsed. Once deemed the seventh richest person in the world, and the wealthiest in Brazil, last year he was sentenced to 30 years in jail after a corruption trial. The self-made billionaire had been found guilty of bribery, having paid over $16.5 million (£12.9m) into foreign bank accounts held by Rio de Janiero governor Sergio Cabral in exchange for contracts with the state. Batista is now under house arrest, as he waits the result of his appeal against his prison sentence.

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