Marvel Over These Bad Celebrity Investments
Celebs and their money are often parted. Here are a few of the most memorably poor celeb investments, ever. Making an investment as Mark Twa...
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Celebs and their money are often parted. Here are a few of the most memorably poor celeb investments, ever.
Making an investment as Mark Twain
In the late 19th century, Mark Twain invested $150,000 to $300,000 on a machine known as the Paige Compositor for 11 years. That was a ton of money back then to throw into an investment. This renowned writer, called the first modern celebrity in America by some, wanted this typesetter that was intended to be much faster than standard Linotype. The business died pretty easily since the machine was hard to work with and had over 18,000 parts.
Jay-Z
Another example of a very bad investment was when Jay-Z decided to put up a 15,000-square-foot luxury hotel in the Chelsea neighborhood in 2007. He got a $52 million loan, and wound up not being able to pay it when the economy crashed in 2008. He defaulted on the loan, and the lender got the land back. The construction as never finished. It was not until Dec. 2010 that the whole ordeal was over with out-of-court settlements.
The Bono investment
Bono was very profitable in his investments with Facebook, BioWare, Pandemic Studios and Yelp. The only issue was that his confidence grew into investments in Forbes, Inc. ($300 million) and Palm ($460 million). These investments only brought a $25 million return for Bono, and he was called "the worst investor in America" by 24/7 Wall Street. He is the managing director for entertainment equity firm Elevation Partners presently.
Poor investment by Larry King
A life insurance scam that flipped policies was something King accidently got behind. He made $1.4 million in spite of the belief that he gave up two policies worth $15 million.
Losing to Madoff
The Bernard Madoff $65 billion Ponzi scheme wound up stealing money from over 200 investors, many of which were celebs. Many people are attempting to make up for the financial loss now that Madoff is in jail serving 150 years for 11 federal felonies.
Movie star investment
Bert Reynolds really struggled after his film star days. He decided to put $15 million to the restaurant chain PoFolks. He started this restaurant in Texas, Florida and California. It perished off, as would be expected, and he lost everything in the divorce with Loni Anderson. He wound up going bankrupt in 1996, which did not hurt too badly considering he was able to keep all property he owned that was not already claimed by Anderson such as a $2.5 million mansion. This was in spite of the fact that he actually owed $10 million at the time.
Debbie Reynolds
In 1997, Debbie Reynolds would deal with her first bankruptcy due to a Vegas casino she decided to start in 1991. When she started the casino, called Debbie Reynolds Hotel & Casino, she did not realize it would never get business by being off the strip. She ended up handling the bankruptcy and selling the hotel off for $10 million in 1998 to the World Wrestling Federation. Last year, she would also end up selling all things from her film career as her memorabilia museum would also go bankrupt.
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Making an investment as Mark Twain
In the late 19th century, Mark Twain invested $150,000 to $300,000 on a machine known as the Paige Compositor for 11 years. That was a ton of money back then to throw into an investment. This renowned writer, called the first modern celebrity in America by some, wanted this typesetter that was intended to be much faster than standard Linotype. The business died pretty easily since the machine was hard to work with and had over 18,000 parts.
Jay-Z
Another example of a very bad investment was when Jay-Z decided to put up a 15,000-square-foot luxury hotel in the Chelsea neighborhood in 2007. He got a $52 million loan, and wound up not being able to pay it when the economy crashed in 2008. He defaulted on the loan, and the lender got the land back. The construction as never finished. It was not until Dec. 2010 that the whole ordeal was over with out-of-court settlements.
The Bono investment
Bono was very profitable in his investments with Facebook, BioWare, Pandemic Studios and Yelp. The only issue was that his confidence grew into investments in Forbes, Inc. ($300 million) and Palm ($460 million). These investments only brought a $25 million return for Bono, and he was called "the worst investor in America" by 24/7 Wall Street. He is the managing director for entertainment equity firm Elevation Partners presently.
Poor investment by Larry King
A life insurance scam that flipped policies was something King accidently got behind. He made $1.4 million in spite of the belief that he gave up two policies worth $15 million.
Losing to Madoff
The Bernard Madoff $65 billion Ponzi scheme wound up stealing money from over 200 investors, many of which were celebs. Many people are attempting to make up for the financial loss now that Madoff is in jail serving 150 years for 11 federal felonies.
Movie star investment
Bert Reynolds really struggled after his film star days. He decided to put $15 million to the restaurant chain PoFolks. He started this restaurant in Texas, Florida and California. It perished off, as would be expected, and he lost everything in the divorce with Loni Anderson. He wound up going bankrupt in 1996, which did not hurt too badly considering he was able to keep all property he owned that was not already claimed by Anderson such as a $2.5 million mansion. This was in spite of the fact that he actually owed $10 million at the time.
Debbie Reynolds
In 1997, Debbie Reynolds would deal with her first bankruptcy due to a Vegas casino she decided to start in 1991. When she started the casino, called Debbie Reynolds Hotel & Casino, she did not realize it would never get business by being off the strip. She ended up handling the bankruptcy and selling the hotel off for $10 million in 1998 to the World Wrestling Federation. Last year, she would also end up selling all things from her film career as her memorabilia museum would also go bankrupt.
How many times have you expected more details on ways to get a fast cash payday loan, and turned to a web search on "fast cash payday loan?" Look no further, all of the details you need is at MatchFinacial.com.
