People believe that if they win the lottery, then all their worries are over. For every star that’s hit it big is another that’s fallen hard - Michael Jackson, Pamela Anderson, Nicholas Cage, Larry King, Wesley Snipes, Gary Coleman, Willie Nelson, Lindsey Lohan..

Many Celebrities have ended up broke after making millions. The list is nearly as long as a Disney parade. Even Donald Trump himself has been bankrupt four times!

So, why do so many of these overnight millionaires always seem to get into financial trouble?

Greatest Artist Alive $53 Million Broke

Besides lacking solid financial advisors, a lot of celebrities often lack the skills to manage money. Recently, the self-proclaimed "the greatest living artist and the greatest artist of all time," Kanye West appealed to Facebook CEO and founder Mark Zuckerberg to invest in his genius ideas by giving him one billion US dollars. West claims that he was 53 million dollars in debt on Twitter.

Following the upload of his anticipated (and controversial) new album The Life of Pablo, the rapper took it down off his own website less than 12 hours later.

West claimed that he wanted to give the exclusive stream to Tidal for another week. He pleaded with his 18 million Twitter followers to subscribe to the music service.

Celebrity Ordered Back to Bankruptcy Court to Explain Social Media Posts

Other celebrities can become their own worst enemy. U.S. Bankruptcy Judge Ann M. Nevins ordered rap star 50 Cent back to court after Instagram pictures posted by the artist raised questions about the truth of his financial situation.

Last year Curtis J. Jackson III filed for bankruptcy before it was decided whether he owed ex-girlfriend Lastonia Leviston $7 million in a sex-tape dispute. Recently, two more claimants - headphone maker Sleek Audio, SunTrust Bank - have stepped forward in joining Leviston and claiming that 50 Cent owes $29 million combined.

Now a Justice Department watchdog is demanding an investigation into “potential evidence of serious misconduct.”

So, what do these recent stories have in common?

According to the National Endowment for Financial Education, about 70 percent of people who suddenly receive a windfall of cash lose it within a few years. Like most lottery winners, celebrities often fail to get good financial advice. They rely instead on friends and loved ones who were with them on their rise to the top.

There is a feeling of obligation to share the new found wealth, but unfortunately this often leads to greed and suspicion over who are the real friends versus those along for their share of the wealth. Celebrities often end up in a vicious cycle of distancing from the very help that they need.

The Oracle of Omaha, Warren Buffett, advises that "It's better to hang out with people better than you."

So the next time you’re waiting for a windfall, be careful what you wish for - you might just get it.

Don't miss our page on Facebook!