Celebrities who died amid financial struggles: James Van Der Beek, Whitney Houston, Michael Jackson, more


Several big-name celebrities had financial struggles at the time of their deaths, including James Van Der Beek, Elvis Presley, Michael Jackson, and more


split photo of james van der beek, whitney houston and michael jackson
Jenni McKnight
Jenni McKnightUS Lifestyle Editor
Updated: February 17, 2026
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Following the death of Dawson's Creek alum, James Van Der Beek, on February 11, his family revealed that his battle with colorectal cancer caused "significant financial strain" and left his wife and six kids "out of funds."

But the late star, who once had a net worth of approximately $3 million, isn't the only celebrity who faced financial struggles before their death.

See below for more stars who lost their fortunes or were in serious debt at the time of their deaths.

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james van der beek pink suit© Variety via Getty Images

James Van Der Beek was once worth $3 million

James Van Der Beek

A GoFundMe campaign set up after the death of James Van Der Beek revealed the "financial strain" his medical care for cancer put on his family.

"In the wake of this loss, Kimberly and the children are facing an uncertain future. The costs of James's medical care and the extended fight against cancer have left the family out of funds. They are working hard to stay in their home and to ensure the children can continue their education and maintain some stability during this incredibly difficult time," it read.

James's once $3 million fortune was reported to be a fraction of that at $100,000 at the time of his death on February 11, 2026.

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Whitney Houston attends the 21st Annual American Music Awards on February 7, 1994 at Shrine Auditorium in Los Angeles, California© Getty

Whitney Houston died $20m in debt

Whitney Houston

Whitney Houston reportedly earned $100 million during her career, but at the time of her death, she was in major debt.

The singer, who battled an addiction to drugs and died in 2012 at the age of 48, owed her record company around $20 million when she died.

However, after she accidentally drowned in a hotel bathtub, her music enjoyed a resurgence, and in just a few months, her estate was able to clear her debts after generating $40 million.

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The iconic Elvis Presley © Bettmann Archive

Elvis died owing the IRS $10m

Elvis Presley

Elvis Presley enjoyed huge musical success throughout his career, but his estate was considered "cash poor" at the time of his death in August 1977.

The late singer died with a reported net worth of $5 million, but his extravagant spending and a contract that gave his manager, Colonel Tom Parker, 50% of his earnings, meant his estate had significant debt.

According to the IRS, Elvis owed nearly $10 million in unpaid taxes, a bill that went to his ex-wife, Priscilla Presley, and his father, Vernon, who both inherited the estate.

Priscilla turned Graceland into a tourist attraction that was worth $100 million when it was passed down to Lisa Marie Presley in 1993. According to reports, Graceland now rakes in over $10 million a year from visitors. 

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Judy Garland© Getty Images

Judy Garland owed $4m to the IRS

Judy Garland

Judy Garland starred in several huge films before her death from an accidental overdose in 1969, including The Wizard of Oz, Meet Me in St. Louis, and A Star is Born.

However, despite her legendary career, when she died aged 47, she was in significant debt and owed $4 million to the IRS, which seized her home shortly after her death.

Judy's financial situation at the time of her death was so dire that Frank Sinatra paid $37,000 to cover her funeral expenses.

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Michael Jackson passed away at the age of 50© Getty Images

Michael Jackson was $500m in debt when he died

Michael Jackson

Michael Jackson's estate may have generated over $2.9 billion since his death in 2009, but at the time of his passing, he was reportedly $500 million in debt.

According to reports, he was spending $20 million to $30 million more a year than he earned in his final years, and his bank balance couldn't keep up with his lavish lifestyle, which included the staggering upkeep costs of his Neverland ranch.

His estate has since recovered and continues to grow, and in 2024, some of his music catalog was sold for $600 million.

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photo of billie holiday on stage© Getty Images

Billie Holiday had 70 cents in her bank account when she died

Billie Holiday

Billie Holiday is said to have had only 70 cents in her bank account when she died from cirrhosis on July 17, 1959, at age 44. According to reports, the legendary jazz singer also had $750 strapped to her leg at the time of her death.

There wasn't enough money for Billie's funeral, so it was paid for by a wealthy fan, although she reportedly didn't have a tombstone until almost a year after her death.

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Actor Gary Coleman arrives at the 6th annual "TV Land Awards" held at Barker Hangar on June 8, 2008 in Santa Monica, California.© Getty Images

Gary Coleman was worth $75k when he died

Gary Coleman

Gary Coleman was the highest-paid child star on TV after he shot to fame at age 10 on Diff’rent Strokes, earning a whopping $70,000 per episode during the show's eight-season run.

In 1989, he suffered from money problems but was awarded $1.3 million after he sued his parents and former business manager for mismanagement of his wealth. 

Gary had several other acting credits to his name in the '80s and '90s, but in 1999, he was forced to file for bankruptcy protection after struggling to find work.

At the time of his death in 2010, the 42-year-old was reportedly worth just $75,000.

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