Ah to be a part of the rich and famous! This is everyone’s dream when they go to Hollywood as that’s where stars are born. But it not as easy as it seems but once you make it big then it’s a party. But what most people tend to forget it is making money is not as easy as it seems in Hollywood but spending money come easier than soft butter on a hot pan. This unfortunately is what happened to John Wayne till he started making better financial decision.
It’s not a secret that the more money you have the more changes that you make to your life style, it becomes more lavish and extravagant and you find you self-doing various things such as investments and charity. This was the story of John Wayne and how he went broke. He started in the silent era of the 1920s and stretching to the late ‘70s, John Wayne seemed synonymous with film stardom and success. However, there was one point in his career that Wayne actually went broke, right in the midst of all that fame. At that point, he had been a little over 25 years in the entertainment industry, meaning this was not the premature flash and sizzle-out of a newcomer making rookie mistakes. Instead, it came down to poor financial decisions by both Wayne and his manager.
Wayne stated that it was poor handling off funds and poor financial decisions that were made by his manager at the time. He quoted “I suddenly found out after 25 years that I was starting out all over again. I just didn’t have it made at all. Until last year I had a business manager who didn’t do anything illegal, but we were involved in many unfortunate money-losing deals. I would just about break even if I sold everything right now.”
