5 Celebrities and the Bizarre Ways They Spent Their Money
by Troy White
Being famous has its benefits, especially when it comes to money.
Celebrities make millions from their career and likeness. Some use this money to buy mansions in Hidden Hills, go on lavish ‘gram-worthy vacations, or launch major business enterprises like Rihanna’s Fenty. Others, on the other hand, like to spend their money more bizarrely.
This article features just a few of these superstar spenders and their ridiculous purchases.
Tracy Morgan rolls deep and spends deeper.
Tracy Morgan often found himself in funny scenarios every week on Saturday Night Live from 1996-2003. But it seems Tracy also found himself in some maybe not-so-funny situations in his free time.
In 2019, Tracy bought a $2 million Bugatti. The not-so-funny part? He immediately got into an accident only half a mile away from the dealership. Fortunately for Tracy the accident didn’t cause much damage and he was able to easily repair his beloved sports car. But, the incident was certainly expensive.
Besides cars, Tracy also enjoys buying aquatic creatures. He installed a $400,000 fish tank which held seven sharks, two stingrays, and an eel.
Paris Hilton‘s spending? “That’s hot…” or not?
Paris Hilton compiled an impressive resume over her lifetime as a model, business woman, singer, and DJ. Almost as impressive? Her astonishing spending record.
For example, Hilton once bought the smallest Pomeranian in the world for $13,000 and named him “Mr. Amazing”. She then went on to buy a $350,000 mansion to house all of her pets (with an entirely pink interior of course).
These precious pets aren’t the only ones living the lavish lifestyle though. Hilton herself owns a $4.9 million penthouse in New York City. This 2,396 square-foot residence includes a 905-square-foot private rooftop and plenty of closet space for her $1,000,000 shoe collection.
Nicolas Cage doesn’t mind keeping caged animals or spending money on them.
Nicolas Cage is perhaps most known for his starring role in movies like National Treasure, but he has also acquired fame from making incredibly large purchases. Throughout the years, Cage has bought multiple multi-million dollar homes, an island, and several yachts.
What may be most interesting though is his collection of exotic animals which include two king cobras that cost him $276,000 each and a $150,000 pet octopus that apparently helped him become a better actor. (Jury is still out on the better actor part.) He also bought a quarter million dollar dinosaur skull earlier in his career.
Unfortunately, these major expenditures took a heavy toll on Cage’s wallet and even led him to file for bankruptcy in 2009.
Mike Tyson is not afraid of knocking out his bank balance with his bizarre purchases.
Mike Tyson has made millions through his boxing career and celebrity spots on various TV shows.
With his earnings, he purchased a 24 Karat gold Bathtub. This tub cost a record $2.2 million dollars and was a Christmas present to his now ex-wife.
And since buying exotic animals seems to be a theme here, it also seems worthwhile to mention that Tyson bought two bengal tigers worth $70,000 each. The cost of feeding these tigers is thought to be around $60,000 annually.
Like Cage, these big spending decisions (also involving cars, jewelry, and clothes) led Tyson to file for bankruptcy in 2007.
The Beckham Family makes spending a family legacy.
Finally, with one being a former Spice Girl and the other a soccer superstar, Victoria and David Beckham have accumulated quite a large fortune. The Beckhams are not afraid to flaunt their fancy expenditures either.
For instance, Victoria Beckham once bought a gold plated iPhone for $37,000 and currently owns an $8 million necklace. David is no exception to racking up the charges either. His tattoos alone cost more than $70,000, and his watch is worth around $250,000. To top it all off, the couple owns multiple homes, cars, and art pieces that are worth millions of dollars by themselves.
Do all of these numbers have you feeling a little flustered? They don’t have to.
Maybe you don’t even half as much money as these celebrities. But, how you spend and save what you do have IS just if not more important.
While your personal spending may not be in the millions, it is just as important that you start thinking about your own personal spending goals. Even if your list of must-haves doesn’t include tigers, sharks, or a gold-plated telephone, you need to start budgeting and saving now to meet your goals down the road.So, even if you have made some wildly regrettable purchases in the past or do make a mistake or two along the way, you have the time and bandwidth to correct course and stay on track. In other words? Putting aside some extra cash and building a budget are always a good idea.
Luckily, Nav.it can help you do both! With our thoughtfully designed budgeting check-in tools and awesome auto-save feature, you can easily grow your wealth one day at a time. We even have in-app money coaches that’ll help you set those saving goals and talk you through whatever you need along the way. To get started, check out our full set of features here or learn more about navigating your financial future on our blog.
Whether it be a gold bathtub, a pet octopus, or maybe just that new car you’ve been wanting, you have the power to start saving towards those big money milestones. So start budgeting for the things you love and remember Nav.it is always here to help.
Troy is a 4th year student at Cal Poly Slo studying Business Administration with a dual concentration in Marketing Management and Entrepreneurship. While managing money in college and preparing for his future, Troy recognized a lack of financial literacy among young adults. He has since made it his mission to help others achieve financial wellness through education and open communication. His other interests include film, music, reading, and helping the environment.