Celebrities who have opened up about their financial issues

Celebrities who have opened up about their financial issues

Sep 08, 2018, 11:11 PM

Pitch black

It's just that when you're in the public eye, everyone then knows that you're going through a tough time financially.

By now you would know that working in the entertainment industry is quite tough, especially when you're trying to make and save money.

It's an industry where at one moment you're receiving money at a fast rate, getting paid thousands of rands on a weekly and monthly basis then all of a sudden the cash flow comes to a halt, and you're no longer getting booked for gigs which means no income. 

This industry is quite tricky, and if you're not careful or smart with your hard-earned cash, you could find yourself poor as a church mouse.

We've heard of many tragic stories of entertainers who passed on poor without a cent to their name, and as a new generation of entertainers emerges, we hope that they surround themselves with people who value and understand money and hopefully invest in educating themselves about the dangers of using money recklessly.

These are just some of the celebrities who have admitted that they are or were having financial issues.

Ishmael

Ishmael
Instagram/@Ishmaelmorabe

Ishmael has always been vocal about his struggles with money and drugs in a recent interview on Tshisa Live, Ishmael admitted that he was very reckless with money and that all the reports about him being broke were true.

"I've been broke a couple of time. The many reports that said I was broke were not lying, I was. There were many times I was reckless with money, buying things I don't need and spending on things that are not at all beneficial, like drugs," he said.

However, Ishmael is now in a better financial state than he was in the past and has learned to save as much as he can and also respect money.

Pitch Black Afro

Pitch black
Twitter

In 2013 News 24 reported that Pitch Black Afro was homeless and was in need of housing assistance from the African Musicians Against HIV/Aids (Amaha) 

At the time, the organisation's chief operating officer, Shakes Mavundla had confirmed that Amaha was working towards building a house for Pitch Black Afro and other artists in destitute.

Pitch Black confirmed to the publication that he had been financially reckless with his money when he was still the hottest entertainer in the game.

“I don’t have an address at the moment. I rented townhouses and wasted my money on cars, which I crashed. I also made a lot of business mistakes by investing money in (the) wrong places. It will be a good start for me because I want to get married, but how do you get married with no house?”

Stitch

Former Kwaito star - Stitch was also another entertainer who had opened up about his financial and housing issues.

He once revealed to the media that he was exploited by record companies and ended up living with his mother because of his financial woes.

Main Image Credit: Twitter

Written by

ZAlebs Team

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