Toni Braxton
If you thought winning a Grammy Award guarantees riches beyond your wildest dreams, it might. Of course, you’ll have to manage your earnings and invest wisely, but for Toni Braxton, that’s not the case. However, her insolvency issues in 2010 and 2013 weren’t entirely her fault. She got the bad end of the deal and only received about two-grand in music royalties, despite selling millions of albums worldwide.
In a reality TV show alongside her sisters, Toni admitted that she’s on a super-tight spending budget. After the fame has faded and the money stops rolling in (did it ever for Toni?), her bank account dried up. All of the luxurious homes and cars were either repossessed or sold off to cover her debts.