When he turned 18 , Aaron Carter receive out his parent allegedly spent a majority of his earnings and he owe $ 4 million in tax .
1.First,Judy Garland, who, after landing her breakout role as Dorothy inTheWizard of Ozat 16 years old, struggled with money later in her career. In 1966, she parted ways with her agents and found out they were mismanaging her money andallegedly embezzleda lot of her earnings. Shereportedlyended up owing about $500,000 to the IRS near the end of her life.
2.Cole Sprouserecentlyrevealedthat he and his brother Dylan Sprouse had lost “everything from the youngest parts of [their] careers,” aka what they earned from sharing a role inBig Daddyand from Cole starring onFriends.Cole said his mother was “financially the most irresponsible woman ever.”
3.Dustin Diamond, who starred as Screech inSaved By the Bell,filed for bankruptcyin 2001. He revealed that his parents reportedly had spent the money he earned fromSaved By the Belland that he made massive tax miscalculations. In 2006, in order to delay foreclosure on his house in Wisconsin, he wasreportedlyselling $15 T-shirts.
4.Jena Malone, who starred in movies likeContact, Hope,andStepmomwhen she was younger,suedher mom in 1999 for reportedly mismanaging her money and “squandering more than $1 million.” The lawsuit also alleged that Jena owed $20,000 in taxes and her “college fund had been drained.” When she was 15 years old, Jenabecamelegally emancipated.
5.Jackie Coogan, who starred in Charlie Chaplin’sThe Kid, thus making him the first child actor in Hollywood,found outafter his father’s death that all of the money he earned while acting as a child was gone. Hesuedhis mom and former manager for his earnings, which led to the creation of the Coogan Law.
6.Aaron Carterfiled for bankruptcyin 2013, afterreportedlymaking “$200 million in [his] career before [he] even turned 18 years old.” However, Aaron’s parents, who managed his money, made a lot of financial mistakes, which led to him owing $4 million in taxes when he turned 18.
7.Shirley Temple landed a contract with Fox Film thatreportedly earned her$1,000 per week in 1934 at just six years old. However, by the time she turned 17, most of her savings were gone. Of her earnings, which wereroughly$3 million back then, sheonly had$44,000 left because of her dad’s poor financial management.
8.Devon Werkheiser, who played Ned onNed’s Declassified School Survival Guide, said by the time he turned 25 years old, his savings, which hesaidhe’d been living “pretty modestly on,” had run out. Devon explained that it was a “real wake-up call” for him when he had to get a 9-to-5 job for the first time because he couldn’t find a steady acting job.
9.LeAnn Rimes, who became a country music star at just 13 years old, sued her father, Wilbur Rimes, and her former manager forallegedlytaking more than $7 million dollars of her earnings andkeeping"tens of thousands in cash" in a safe that was hidden on her tour bus. The suit also alleged that they made unreasonable fees among other things to take more money.
10.Corey Feldman, who starred inGremlins, The Goonies, Stand by Me, andThe Lost Boysall before he was 18,revealedin his autobiography that when he filed for emancipation from his parents at 15 years old, he allegedly found out that the $1 million he earned through his career was stolen by his parents.
11.Christy Carlson Romano, who starred onEven StevensandKim Possible,revealedthat she lost all of the savings she’d earned as a child actor because she was spending it on expensive purchases. When she was 21, she “parted ways” with her family for about a year because she “didn’t like the way [her] money was being managed.” It was the first time she controlled her own money, which led to her wild spending habits.
12.Gary Coleman, who was known for playing Arnold onDiff’rent Strokes,filed for bankruptcyin 1999. During the peak of hisDiff’rent Strokesfame, he wasreportedlymaking roughly $64,000 per week. Hesaid, “I can spread the blame [of filing for bankruptcy] all the way around. From me to accountants to my adoptive parents, to agents to lawyers and back to me again.”
13.And finally, Joey Lawrence, who starred inBlossomalongside a music career and work with Disney when he was younger,filed for bankruptcyin 2017. Reportedly, Joey and his wife only had $8,000 in the bank at the time they filed. With dwindling residuals fromBlossomandMelissa and Joeyending, Joeyreportedlywas also selling his clothes to try and make ends meet.
