Contrary to what most people think, even the richest celebrities can have money problems. Many interesting biographies are about famous people who came from nothing and went on to do great things, but the opposite is also true. Singers, athletes, and actors are all examples of famous people who have spent all their money on a lavish lifestyle and gone bankrupt because of it.

 

 

 

 

Here, we’ll talk about how even the most famous and wealthy people in the world have had to go bankrupt, change the way their businesses work, and adapt to new situations. Read on to find out about some well-known bankruptcies in Mzansi and to learn how to handle your own money better.

#1-Tinah Mnumzana.

South African actor and poet Tinah Mnumzana has been in many popular TV shows, such as Generations, Isidingo, and Scandal! Ihawu le Sizwe, a political thriller on SABC1, has her play Silindile Mahlangu.

In 2005, the famous person had to give up her home because she couldn’t pay the mortgage. The bank took her house away.

#2- Afro-Black

Thulani Ngcobo is a well-known Kwaito and hip hop artist in his home country of South Africa. He is better known by his stage name, “Pitch Black Afro.” The success of his first album has a big effect on the music business as a whole. Because he was drunk, he blew the family’s life savings, putting them in a tough spot. Thulani moved back into his mother’s house in Soweto, which shows that he needed help with money. As his bills kept coming in, he had to give up trying to stay off the streets.

#3- Phillipos Masinga

Since 2011, when he lost his fame and money, Masinga has been having trouble making ends meet. He has owned nightclubs, gas stations, and high-end shops in the past.

#4- Makhene Blonde

Keoagile A well-known musician named Gerald Makhene made a lot of money in the 1990s. Because he wasted so much, he would never be able to make up for it. Some wealthy people are living on the streets, which is strange. Some people have also died because of what they did, like when they took too much drugs and overdosed. Brenda Fassie, Stitch, Shoes, Prokid, and Baby Dash are all well-known South Africans who made bad decisions with their money.

#5- Pamela Nomvete

After getting divorced from her husband and losing everything she owned, a former actress now lives in her car. She traded her valuables for food and cigarettes, so the story goes.

Some of these South African celebrities couldn’t go on after losing their home, but others have made a full recovery.