Things Celebrities Wasted Large Amounts of Money On

May 11, 2016

Sometimes, when you have more money than you know what to do with, you spend it on things you wouldn’t normally buy. What have you bought that you realized was a mistake and a waste of money? When it’s hard to justify a purchase, you may end up with buyer’s remorse. However, if you have plenty of cash, it may not be that big of a deal to you.

Celebrities often go extravagant with their purchases. The over-the-top purchases can seem like a waste of money and sometimes they are. Here are of the top things celebrities have bought that were a waste of money.

Mike Tyson’s Purchases

Mike Tyson with TigerMike Tyson may be one of the best-known celebrities for wasting money on extravagant or foolish things. He has made plenty of money in his life time and spent quite a bit, too. The most prominent purchase was the $140K he spent on two white Bengal tigers, and then the other $140K he spent for the trainer for the tigers.

Along with the purchase of his large cats, Mike Tyson claims he spent about $230,000 on cellphones from 1995 to 1997 and about $2 million on a bathtub. These, however, are minor compared to the millions of dollars spent on drugs throughout the years. One year, he started with about $3 million worth of debt, made about $60 million and still finished the year in the hole. This was due to the massive amounts of cash spent on drugs and other extravagant things.

Kim Basinger’s Town

Very few people get to look at a town and think about buying it. Kim Basinger was in this position in 1989 and decided to buy 1,751 acres of a 2,000-acre town in Georgia. She spent about $20 million for the town with the idea of turning it into a tourist destination. However, she had to file for bankruptcy 5 years later due to the purchase.

Rihanna’s Hair

While some women spend a few hundred or maybe $1,000 on their hair every year, Rihanna wastes about $1 million. She may be known for her hair, but paying a $3,200 retainer fee for her personal stylist just for one way seems a bit out there. In 2011, she reportedly topped the $1 million mark just on the expense of changing her hairstyle regularly.

Paris Hilton’s Dog House

Paris Hilton's Dog HouseWould you consider it a waste of money if you found out somebody spent as much as most people pay for their own house on a dog house? Well, Paris Hilton did exactly that when she forked over $325K for a dog house in 2009. The house has air conditioning, heating, a black crystal chandelier and designer furniture. It was designed to be very similar to Paris’ actual house, but in a smaller version.

Vince Young and The Cheesecake Factory

How much would you spend at The Cheesecake Factory every week if you dined there often? While it’s a pretty popular restaurant, Vince Young took this to extreme when he forked over $5K a week for himself and 7 to 8 teammates. At the time, Young was doing quite well, but he went broke after retiring from football. After doing the math, he had spent about $260K at The Cheesecake Factory in just one year.

Miley Cyrus’s Dog’s Range Rover

Miley Cyrus has so much cash she figured it was no big deal to dish out $150K for a Range Rover just for her dogs. She also owned a Maserati at the time, so it should come as no surprise that the Range Rover was specifically designated for taking the dogs wherever they need to go. It must be nice to be able to buy a vehicle just for the four-legged pets.

Rick Ross’ Strip Club Birthday

Rick Ross with moneyHearing that Rick Ross spent his birthday at a Miami Strip Club called King of Diamonds probably comes as no surprise. Many celebrities are known for partying; however, when you hear he spent $1 million in one night, it may come as a shock. Ross stated that they spent so much money the Brinks truck had to come and that wasn’t even enough.

Related: Which Celebrity Homes Make You Jealous?

Other over-the-top purchases made by celebrities that could be seen as a waste of money include:

  • Jay Z – Spent $55 million on a Racehorse
  • Ke$ha – Spends Thousands every month on Glitter
  • Michael Vick – Spent $85 on a Koi Fish Pond
  • Beyoncé – Spent $80K on a Diamond Barbie
  • Tom Cruise – Spent about $200K on a Sonogram Machine
  • Katy Perry – Spent about $200K on a ticket to space

While some of these purchases were driven by love, others were simply a waste of money.

Edit Search

  • Email Updates
  • Only Update me On
Close
Email Sent! Your email was sent successfully
Close
Register
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    When are you looking to purchase?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need assistance with financing?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need to also sell your property?
A Masterpiece in America's #1 Luxury Market

41 Arvida Parkway with its 8 bedrooms, 9 baths and 3 half baths, epitomizes luxury and bayfront living, with direct access to Biscayne Bay and the Atlantic Ocean