More Bad Celebrity Investments
Being famous doesn’t insulate you from losing money on bad investments. In fact, it may increase your chances of going belly up, since celebrities are bigger targets for scam artists.
Bono lost $140 million on an investment in PalmPilots.* Always remember, bad tech investments could happen to U2.
Mark Twain saw the future in an automated typesetting machine called the Paige Compositor, but lost $150,000 — about $5 million in today’s dollars. He was bankrupt at age 59.
Dorothy Hamill, skating darling of the 1976 Olympics, earned a then unheard of $1 million annual contract with the Ice Capades. When the show ran into trouble, Hamill bought it out of bankruptcy, but two years later, she hung up her skates and unloaded the show.**
David R. Evanson is a financial journalist in Philadelphia.
* Getlen, Larry, (May, 2015). Celebrity investments gone sour. Bankrate. Retrieved December, 2019
** Getlen, Larry, (May, 2015). Celebrity investments gone sour. Bankrate. Retrieved December, 2019