4 Women who lost it all and then gained it back again


If you're broke, don't despair. You may not have enough money in the bank, but you can grow beyond the challenges you face.

Whether you've shopped yourself into debt, lost your job, or suffered some other kind of financial setback, you can still live recover financially.

In recent years, we've read about how the rich and famous handled their finances from falling into debt at some point in their career to filing for bankruptcy. It's hard to imagine how someone could blow through millions but it happens and it happens a lot.

Despite all of this, there are many who are able to recover. These are individuals who were able to rebuild their fortunes after losing them. They are real life examples that a setback is simply a platform for a comeback. Can I get an AMEN for that? 😉

From bad financial moves, career nose-dives or just sheer bad financial decisions, I look at four powerful women who lost it all and then gained it back again.

#1. Toni Braxton
Remember when Braxton filed for bankruptcy in 1998 and 2010. I vividly remember the interview she did with Oprah about her first bankruptcy. She was honest about her financial woes which she blamed on a combination of small royalty checks and a serious spending habit. At one time, she racked up $170 million in worldwide sales from hits like “Breathe Again,”. So what happened that drove the Toni into filing for bankruptcy, twice nogal? Well the first time Braxton told ABC News she only received a $1,972 royalty check from her first recording contract. This paired with her lavish spending, poor investment practices and even worse saving habits, she couldn’t pay the bills.
In 2010, Braxton filed for bankruptcy again, citing debts between $10 million to $50 million, Reuters reported. She settled her Chapter 7 case for $150,000 in 2013, according to UPI. During her second bankruptcy, she landed the reality show “Braxton Family Values,” which likely paid well, because she bought a $2.9 million home in 2014. She also cited a life-threatening diagnosis as the reason her finances why she went into bankruptcy.
What’s did she do to get back up again? In addition to being on a budget now, Braxton stars on the reality television series Braxton Family Values. She also went back to studio to record new music, starting touring again and today she's worth $10 million.



#2. Joan Rivers
Remember comedic personality, Joan Rivers?  She was married to her professional manager. Like so many successful women making a lot of money today, she was busy and offloaded the responsibility of financial management to her husband. Sadly, he didn't do a very good job and she didn't find out about that until he passed away. So not paying attention was a big mistake. Like so many women she when they start making lots of money, she spent it on things that didn't serve her.
At 54 she was single without a job and broke financially because her husband's suicide and mismanagement of their money. At middle age, she had to pick herself up. So, Joan reinvented herself, became more open to doing whatever she needed to do to succeed and she finally started paying attention to her money and needs.  She wrote 13 best-selling bookssold the line of jewelry and other products she designed and sold on QVC. Between her hosting duties and QVC royalties, it is reported she was earning as much as $50 million per year.  In her will, Joan Rivers left her estimated of $150 million fortune to her daughter, grandson, staff, charities, and beloved dogs.  What a legend!

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#3. Rihanna
You wouldn't think that RiRi, one of the biggest stars in the world, would have money drama. But it turns out the singer was left " effectively bankrupt" in 2009 - thanks to her former accountant's "boneheaded decisions". In 2009, Rihanna started off with $11 million in the bank, but was left with and $2 million. Rihanna's was advised to make a string of bad financial decisions which almost saw her go broke. First, he told her that she could afford to purchase the home when she was running out of cash. She purchased a house priced between $7 and $7.5 million that year ended up selling the property for a $2 million loss. Rihanna also claimed that her 2009 "Last Girl On Earth concert tour" was losing money, but her accountant failed to notify her of the losses.
So what did to bounce back? She had to file a lawsuit against her former accountant. In 2014, she won roughly $10 million in an out-of-court settlement against Peter Gounis of Berdon LLP, according to The Washington Post.
Today, Rihanna has a seriously impressive net worth of $230 million. Her financial accomplishment is due to successful albums, such as “Anti” — which has sold more than 2 million copies — and tours like her “Diamonds World Tour,” which grossed more than $100 million worldwide in 2013, according to Billboard.

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#4. Martha Stewart
She is the first recorded first self-made female billionaire in America. In 1987 when she was about to publish her fifth book, about weddings, her husband walked out on her after 26 years of marriage. Martha then put all her energy in her company, Living Omnimedia. The company went public and the stock's value nearly tripled on its first day of trading in 1999. After her company's 1999 IPO, Stewart's stamp of approval was worth $US2 billion. Going public in October 1999 made her a billionaire and she was spending like one.
In 2002,Stewart was charged with insider trading and other related felonies stemming from statements she made to investigators. After two years of extensive legal wrangling, public humiliation and tabloid fanfare, she was found guilty of the major charges and sentenced to prison. Viacom dropped her television show. She resigned from the board of directors at her namesake brand. She also had to pay the Securities and Exchange Commission $US195,000 to settle related charges.
 After she came out of prison, she faced a lot of challenges but one thing Martha didn't do is quit.
How did she do it? Martha didn't wallow in victim hood. She handled her failure with grace, In one year, she had returned her company to millions in revenue and became a member of its Board of directors in 2011. She is currently the chairman and is worth billions.

So if you’ve suffered a financial setback, remember this: your story isn’t over yet, and you have the power to change your situation, just like these four powerful women. You too can turn your life around with hard work and perseverance. Don't become a cautionary tale. Don't allow your circumstances to write the story that you should be writing for yourself. #Womandla

If you have any other tips I left out, please add them in the comments section below.

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