Celebs are individuals, too. They make poor investments and lose cash like everyone else. Here are a few bad celebrity investments individuals remember.

Information on Mark Twain

A famous author and humorist who has been known as America’s first modern celebrity, Mark Twain spent $150,000 to $300,000 (a huge amount of money back then) over 11 years during the late 19th century on a machine known as the Paige Compositor. This was a typesetter that was said to be faster than standard Linotype. Unfortunately, the machine had more than 18,000 parts and needed constant care, so the business died.

Poor Jay-Z investment

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 wasn’t until Dec. 2010 that the whole ordeal was over with out-of-court settlements.

Enormous losses for Bono

The media and entertainment firm Elevation Partners is actually managed by Bono. The website 24/7 Wall Street said that Bono is „The worst investor in America“ when he only got a $25 million return on investments in Palm ($460 million) and Forbes, Inc. ($300 million). He was very successful when he invested in BioWare, Pandemic Studios, Yelp and Facebook.

Larry King

A life insurance scam that flipped policies was something King accidently got behind. He made $1.4 million regardless of the fact that he gave up two policies worth $15 million.

Kevin Bacon and many more

Bernard Madoff is currently in jail for 11 federal felonies and serving a 150 year prison sentence. His $65 billion Ponzi scheme stole from over 200 investors, many of which were celebrities. Now, all those investors try to figure out what to do to make up for the lost cash.

Film star investment

The most popular film star of the 1970s, Burt Reynolds ended up dealing with the urge many celebs face: opening a restaurant chain. The chain was PoFolks, and outlets existed in California, Texas and Florida. By the late 1980s, however, the cupboard was bare and Reynolds was out $15 million. His eventual divorce from Loni Anderson and diminished star power led to a 1996 bankruptcy. Even though he was more than $10 million in debt, bankruptcy court allowed him to keep his $2.5 million mansion and all of his personal property that Anderson had not already claimed.

Reynolds investment

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. In 2010, she would also end up selling all things from her movie career as her memorabilia museum would also go bankrupt.

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