20 Celebrities Who Lost All Their Money

© Jordan Strauss/AP

Actress Kim Basinger once purchased a 1,691-acre town and later had to file for bankruptcy.

In 1989, Basinger paid $20 million for the town of Braselton, Georgia. She was expected to create a tourist attraction such as a theme park or movie studio, but she instead declared bankruptcy in 1993 and had to sell the property.

The bankruptcy was a huge news story at the time. Basinger was sued by “Boxing Helena” producer Carl Mazzocone for backing out of an oral contract to star in the film. The Los Angeles Superior Court ordered her to pay damages and lawyer fees.

Basinger eventually settled with Main Line Pictures in 1995, avoiding the initial $8.1 million judgment.

She has continued to act in movies like 2002’s “8 Mile” with Eminem, 2010’s “Charlie St. Cloud” with Zac Efron, and 2017’s “Fifty Shades Darker.”

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