Jan 10 2009
Did You Know Rembrandt Filed Bankruptcy?
I didn’t realize that little tidbit of historical financial gossip … but it’s true. Back in 1656 Rembrandt van Rijn filed bankruptcy. He was 50 years old, and had accumulated more debt than he could possibly repay. His house, and many of his paintings, were sold at auction to offset some of the debt.
Phineas Taylor Barnum once filed bankruptcy as well. It was due to losses in unwise business ventures in 1871. He eventually went on to successfully create “The Greatest Show on Earth Circus. Later merging it with James A. Bailey’s circus … creating the well known Barnum & Bailey Circus.
Samuel Langhorne Clemens (Mark Twain) filed bankruptcy in 1894. Which discharged all his debts. But he was determined to pay back all he owed. He went on a lecture circuit in America and Europe - eventually earning enough to pay back the debt.
And the bankruptcy list goes on:
- Henry John Heinz
- Oscar Wilde
- Milton Snavely Hershey
- Henry Ford
- Mickey Rooney
- Debbie Reynolds
- Johnny Unitas
- Jerry Lee Lewis
- Burt Reynolds
- Sherman Hemsley
- Marjorie Margolies Mezvinsky
- Wayne Newton
- Kim Basinger
- MC Hammer
- Walt Disney
- Larry King
- Donald Trump
- Mike Tyson
- Sammy Kershaw
- (I excerpted this information from the Laura Margulies & Associates LLC website.)
Interesting list, I think.
personal finance
Very interesting. It’s sad how people can get into so much deb and so easily.
I was watching PBS one night, and they were airing a piece on Rembrandt. I was fascinated when they said he filed bankruptcy. Especially at 50 yrs of age - how disheartening that would be! Anyhow, my curiosity piqued and I did a Google search …