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Celebrities Make Dumb Money Moves Too
Posted By Ron On November 25, 2009 @ 7:00 AM In Debt,Money | Comments Disabled
 It’s a natural human tendency to think that money makes you smart, or is it that being smart makes you money? After all, how did rich people get that way in the first place? Surely it had to do with intelligence, right? Maybe, maybe not.
Most people get insanely wealthy by filling a need, whether that need is for cheap Chinese products, mail order computers, life saving medical procedures, or … the escapism that IS Hollywood.
In a recent Fox entertainment article , I read about 19 different celebrities that had made and subsequently lost a great fortune. One, Nicolas Cage, really caught my eye. Nicolas Cage claims his ex-manager, Samuel Levin, lined his pockets with a couple of million in management fees. But Levin points out that “Cage brought about his own financial ruin by living above his means. “ Levin says he warned the actor to scale back his lavish lifestyle. The actor’s purchases included several castles, 15 palatial homes, a large collection of yachts and a fleet of Rolls Royces.”
Who’s right? I guess the courts will have to decide, but for now, the evidence seems stacked against the guy who bought 15 homes … ‘scuse me, 15 palatial homes …